Selbyville, Delaware, Dec. 02, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on location analytics market which estimates the global market valuation for location intelligence will cross US$ 30 billion by 2026. The increasing demand to extract additional insights from the geolocation information of business data is expected to contribute significantly to the industry growth.
The enterprise-wide demand to extract additional business supportive information from combined transactional and geolocation data is anticipated to fuel the location analytics market growth. Location analytics solutions help enterprises to combine both location and sales data to map profitable areas. Companies can also compare sales revenue based on territories and marketing campaigns. In addition, advanced capabilities including analytical and mapping tools are helping professionals to analyze business information efficiently and support business growth.
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The reporting and visualization solution segment is likely to grow significantly from 2020 to 2026. This location analytics solution is commonly used to visualize and report business data in conjunction with geographic components. Companies are also customizing geospatial reports for specific business decision making. Companies are emphasizing on extracting actionable insights from spatial data and leveraging advanced reporting capabilities of location analytics solutions.
The outdoor positioning segment is predicted to capture a major market share over the forecast period. Enterprises operating across wider geographies use location analytics solution to map business assets across the outdoor environment. It also provides in-depth insights through outdoor location intelligence. Companies can formulate business plans for outdoor spaces with the help of advanced analytics and location awareness capabilities. It also assists in locating customers and objects in real-time outdoor locations.
The use of location analytics solutions & services for supply chain planning and optimization is expected to grow significantly over the forecast timeline. Location analytics solutions help enterprises to identify bottlenecks and potential delays in the supply chain. This further enables companies to reduce lead times and increase damage performance. Similarly, companies can monitor and schedule orders in accordance with real-time inventory information. The use of location analytics can help enterprises in optimizing the overall supply chain performance.
The demand for location analytics solutions across the healthcare sector has increased drastically since the past couple of years. In addition, with the current COVID-19 pandemic, the use of geospatial data has increased exponentially. Several companies are providing advanced location-based platforms to public and private healthcare agencies. For instance, in June 2020, in co-operation with the Ministry of Health, Saudi Arabia, ESRI Saudi launched a COVID-19-based dashboard with geography-based statistical data. The dashboard provides real-time location-based information to monitor and analyze the COVID-19 cases across the country.
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Asia Pacific location analytics market is estimated to hold around 25% share in 2026. The growing demand for location-based insights for decision making across enterprises in countries including China, India, and Japan are supporting the regional market growth. For instance, in June 2020, ZENRIN, a Japan-based location data provider, partnered with Here Technologies to deliver location data services to enterprise customers. Under the partnership, the company leveraged Here’s Marketplace platform to serve customers with location data.
Companies operating in the market are serving government defense agencies with a comprehensive suite of location analytics solutions. For instance, in July 2020, the UK Ministry of Defense and ESRI UK established a three-year strategic geospatial partnership. Under the partnership, ESRI UK assisted the Ministry of Defense in strategizing air, land and maritime technology services. The company provided its comprehensive suite of ArcGIS and supportive services to support MOS’s location-based defense decision-making.
Some major findings of the location intelligence market report include:
- The growing need to gain location-based insights for business potential and performance is expected to support the location analytics technology development in the market.
- North America is expected to hold a major market share due to the widespread presence of enterprises providing location analytics solutions such as TIBCO Software Inc., Google, etc.
- Asia Pacific is anticipated to witness exponential growth due to the growing penetration of location-based services and expansion in the logistics industry.
- Major players operating in the location analytics market are Cisco Systems, Inc., Google, LLC, , Microsoft Corporation, ESRI Global, Inc., and SAP SE.
- Companies operating in the market are emphasizing on strategic partnerships to integrate location data with analytics technologies.
Partial chapters of report table of contents (TOC):
Chapter 3 Location Analytics Industry Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Impact of COVID-19 outbreak
3.3.1 Global outlook
3.3.2 Regional outlook
3.3.2.1 North America
3.3.2.2 Europe
3.3.2.3 Asia Pacific
3.3.2.4 Latin America
3.3.2.5 Middle East & Africa
3.3.3 Industry value chain
3.3.3.1 Location analytics providers
3.3.3.2 Marketing & distribution channel
3.3.4 Competitive landscape
3.3.4.1 Strategy
3.3.4.2 Distribution network
3.3.4.3 Business growth
3.4 Location analytics industry ecosystem analysis
3.5 Technology & innovation landscape
3.5.1 Real time data streaming
3.5.2 Location intelligence based social media
3.5.3 Autonomous mobility
3.6 Regulatory landscape
3.6.1 North Carolina Geographic Information Coordinating Council (GICC)
3.6.2 American Society for Photogrammetry and Remote Sensing (ASPRS)
3.6.3 Environmental Protection Agency (EPA), U
3.6.4 Bureau of Geographic Information Systems, New Jersey
3.6.5 National Spatial Data Infrastructure (NSDI) Act, Japan
3.6.6 National Oceanic and Atmospheric Administration (NOAA)
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Rising use of spatial data and analytical tools
3.7.1.2 Growing need of geographic predictive analytics
3.7.1.3 Increasing use of location-based applications among consumers
3.7.1.4 Growing uptake of location analytics technology in disaster management applications
3.7.1.5 Integration of location-based mapping systems with business intelligence systems
3.7.2 Industry pitfalls & challenges
3.7.2.1 Lack of uniform regulatory norms
3.7.2.2 High initial cost of deployment
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 PESTEL analysis
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/location-analytics-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.