The new report by Expert Market Research titled, ‘Global Location Analytics Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global location analytics market, assessing the market based on its segments like component, deployment type, location, services, application, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020 ): USD 9.8 billion
- Forecast CAGR (2021-2026 ): 15.4%
- Forecast Market Size (2026 ): USD 23.3 billion
The market for location analytics has seen substantial growth due to factors such as the rising demand for location-based services and market intelligence among business organizations. The retail industry’s expanding demand for technology is predicted to propel the business ahead. Privacy concerns, connectivity issues, and data integration are all key challenges for the sector, which must be addressed carefully to maintain data protection. The industry’s growth is being aided by the increased embrace of technology by industries such as healthcare.
Industry Definition and Major Segments
The method or capability of obtaining the flow of data from the geographic component of a company’s data is known as location analytics.
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Based on the component, the industry is divided into:
Based on the deployment type, the industry is divided into:
Based on the location, the industry is divided into:
Based on the services, the industry is divided into:
- Risk Management
- Emergency Response Management
- Customer Experience Management
- Remote Monitoring
- Supply Chain Planning and Optimization
- Sales and Marketing Optimization
Based on the application, the industry is divided into:
- Banking, Financial Services and Insurance
- Government and Defense
- Media and Entertainment
- Transportation and Logistics
- Energy and Utilities
The regional markets for location analytics include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Geographically, North America is the fastest-growing region for the market. The expansion of location analytics in this region is being fueled by strong technological backing and rising automation tendencies. Real-time data analytics in defense technologies paved the door for larger location data applications in a variety of industries, including retail, BFSI, and healthcare. The adoption of technology by major corporations is propelling the sector forward. Leading companies employ tactics like price optimization and selection, location analytics, and customer-driven marketing to gain a major competitive advantage over their industry’s competitors. Multiple organisations employ geographic information to analyse, evaluate, and interpret location-based data while making business decisions, propelling the location analytics industry forward. To understand distinct trends and patterns, location analytics uses past client profile information and preferences from all across the world.
Key Market Players
The major players in the market are SAS Institute Inc., Environmental Systems Research Institute, Oracle Corporation, Pitney Bowes Inc., Microsoft Corporation, Galigeo SAS, Cisco Systems Inc., IBM, Alteryx, Inc., CleverAnalytics, IndoorAtlas Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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