Location Analytics Market Worth $33.2 Billion By 2027, Growing at a CAGR Of 13.1%: Report by MarketsandMarkets™

Chicago, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The Global Location Analytics Market size is projected to grow from USD 18.0 billion in 2022 to USD 33.2 billion in 2027, at a compound annual growth rate (CAGR) of 13.1% during the forecast period, according to a new report by MarketsandMarkets™. Increasing importance of asset management across industries is to boost the growth of the Location Analytics Market.

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240 - Tables
46 - Figures
260 - Pages

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Scope of the Report

According to Geoblink, LI/location analytics is collecting and analyzing many geospatial data sources. These geospatial data are transformed into strategic insights to solve a variety of business challenges. The technology has the ability to compile and enrich different types of large datasets, such as GPS data, transactional data, socio-demographic data, footfall traffic, and points of sale data, to be used for deep geospatial analysis. The information is then displayed on a simple and map-centric interface, which allows users to visually conceptualize the factors that affect the performance of their businesses in various locations.

According to Carto, Location Intelligence (LI)/location analytics is the methodology of deriving insights from location data to answer spatial questions. LI goes beyond simple data visualization on maps to analyze location data as an integral part of a business or societal problem.

The Location Analytics Market has been segmented on the basis of component into solutions and services. The solution segment includes geocoding and reverse geocoding, data integration and ETL, reporting and visualization, thematic mapping and spatial analysis, and others (DBMS and socio-demographic data). The services segment includes professional services and managed services. The application type is segmented into risk management, emergency response management, customer experience management, remote monitoring, supply chain planning and optimization, sales and marketing optimization, location selection and optimization, and other applications (including predictive asset management and inventory management). The location type is further segmented into indoor and outdoor locations. The deployment type is segmented into cloud and on-premises. Organization size is segmented into SMEs and large enterprises. Verticals in the report include retail; manufacturing; government & defense; media & entertainment; transportation & logistics; energy & utility; telecom & IT; healthcare, pharma, and life sciences; tourism & hospitality; banking & financial services; insurance; real estate; and education. The regional analysis of the Location Analytics Market covers North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

By component segment, the services segment in the Location Analytics Market is estimated to grow with the highest CAGR during the forecast period. The need for accurate location solutions and technology is growing rapidly.

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By deployment type, the on-premises-based location analytics segment is estimated to grow with the highest CAGR during the forecast period. Implementing solutions and technologies on the market incurs high accuracy, cost, and implementation time, which is a major concern in terms of adopting location analytics solutions.

The indoor location segment is estimated to grow at the highest CAGR during the forecast period. The demand for indoor location solutions is growing globally to enhance the navigation and tracking facility within the building.

The healthcare, pharma, and life sciences vertical are projected to grow at the highest CAGR during the forecast period. To bring about the assets effectively and increase the hospital’s efficiency, authorities can use location intelligence technologies to track assets and people in real time.

The Location Analytics Market is studied across five major regions: North America, Europe, the Middle East & Africa, Asia Pacific, and Latin America. North America is estimated to account for the largest market share during the forecast period. In North America, emergency and response management and risk management-based solutions are considered highly effective by most organizations and verticals.

Key Players

Major Location Analytics Market vendors include IBM (US), Google (US), Oracle (US), Microsoft (US), Esri (US), SAS (US), Precisely (US), SAP (Germany), CISCO (US), TomTom (Netherlands), Hexagon (Sweden), Zebra Technologies (US), Alteryx (US), HERE (US), Purple (UK), Galigeo (France), Geomoby (Australia), Quppa (Finland), CleverMaps (Czech Republic), IndoorAtlas (Finland), Lepton Software (India), CARTO (US), TIBCO (US), Sparkgeo (Canada), Ascent Cloud (US), Foursquare (US), MapLarge (Georgia), SedimentIQ (US), Ariadne Maps (Germany), Locale.ai (India), Geoblink (Spain), Nrby (US), Mapidea (Portugal), GapMaps (Australia), and LocationsCloud (US).

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