Location Analytics Market is segmented by Component, Location, Application (Risk Management, Supply Chain Optimization, and Customer Management), End-Use Industry (Smart Cities, Healthcare, Retail, Government, Logistics, Utilities, Agriculture, and BFSI), and Region.
The Location Analytics Market is expected to reach $29 billion by 2028, at a CAGR of 11.1% during the forecast period 2021 to 2028.
To have more valuable contexts and insights on a business data’s assets, Location Analytics further adds a layer of geographical data to it. This offers a new understanding regarding the trends and relativity of gathered data. The process’ main goal is to gather insight from the location or geographic element in a business data.
Location Analytics Market Growth and Trend
Business decision making is crucial especially to emerging markets so the growing need for predictive analytics is quite high. There needs to be a consistent innovation with regards to geospatial technologies and responsible usage of spatial data, analytic tools and awareness on this market. These could be the driving factors that will lead the market to successfully grow. Opportunities are further created because there is a growing demand for social media usage in terms of customer service and engagement.
Challenges in the time of pandemic
Being unaware of the benefits of location analytics market, privacy concerns and data security are the major set backs hindering the market growth. Additionally, the impending effects of the pandemic where COVID-19 has adversely affected economies and disrupted the operations of key players in the market where they have encountered decline in attracting new customers, failure to connect with their existing clients, and having difficulty with accessing required information and data remotely.
With the limited operations caused by restrictions and safety protocols, decline in location analytics demand dropped considerably since the affected are workforce, facility operations and poor coordination and management. Regional areas whose investments in this market are of high value have also halted their operations to comply with government restrictions.
But the Location Analytics market is still thriving despite irregularities in the usual operations brought about by the effects of the pandemic. With remote communication being demanded and adopted by industries to comply with safety protocols, majority in the healthcare sector have been utilizing location-based analytical tools to ensure quality services and logistics.the use of location intelligence plays a vital role in treating and diagnosing patients and their diseases. Industries and various businesses supports this market and the new operational processes and ways of working suited in this pandemic is slowly being adapted.
Key Findings in the Location Analytics Market
In terms of location analytics components, in 2020, software segment is projected to have the largest share of the over all location analytics market. The software component is systematically developing and innovated, making it possible for the incorporation of modern technologies that can aid in the users’ location-related queries effectively. This segment is also projected to have the highest growth rate during the forecast period of 2021-2028. in terms of component, software segment is also expected to record the highest growth rate.
In terms of location, it is segmented into indoor and outdoor. Indoor segment has the largest share in the market compared to the outdoor segment in 2020. this is attributed to the high usage of smart devices with high technology location-based applications and services integrated into its system. The ever growing investments in the modernization and advancements with respect to infrastructure and technology are also growth factors to be considered. Rate of using location analytics for retail has also increased especially consumer applications in electronic commerce transactions.
With respect to application, the sales and marketing is expected to have the largest share accounted for in 2020. it is mainly attributed to the increase in the adoption of location analytics for boosting sales and marketing.
Regional Market Analysis
North America is projected to have the largest share of the overall location analytics market in 2020, next would be Europe, Asia-Pacific, Latin America, and the Middle East & Africa. But Asia Pacific is projected to have the fastest growth during the forecast period. This is because of the increasing number of consumers adopting spatial analytics tool and devices especially in China, India and Japan.
Market Key Players: Share and Competition
The leading players in the location analytics market are, Google LLC (U.S.), SAP SE (Germany), IBM Corporation (U.S.), TIBCO Software, Inc. (U.S.), Oracle Corporation (U.S.), Alteryx, Inc. (U.S.), SAS Institute, Inc. (U.S.), Microsoft Corporation (U.S.), ESRI (U.S.), Precisely (U.S.), Hexagon AB (Sweden), GaliGeo (France), Trimble, Inc. (U.S.), and Pitney Bowes, Inc. (U.S.). these key players have established competitive landscape, adopted business strategic developments along with a strong product portfolio.
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• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Component Analysis (Revenue, USD Million, 2021 - 2028)
• Integration & Deployment
• Support & Maintenance
Location (Revenue, USD Million, 2021 - 2028)
Application (Revenue, USD Million, 2021 - 2028)
• Risk Management
• Supply Chain Optimization
• Sales & Marketing Optimization
• Facility Management
• Remote Monitoring
• Emergency Response Management
• Customer Experience Management
End-use Industry (Revenue, USD Million, 2021 - 2028)
• Infrastructure and Smart Cities
• Retail & Consumer Goods
• Government & Defense
• Industrial Manufacturing
• Transportation & Logistics
• Energy & Utilities
• Telecom & IT
• Media & Entertainment
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Location Analytics Industry Research Report
• Europe Location Analytics Industry Research Report
• Asia Pacific Location Analytics Industry Research Report
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