Pune, May 27, 2020 (GLOBE NEWSWIRE) -- The global location analytics market size is projected to reach USD 26.75 billion by the end of 2026. The increasing investment in product R&D will have a direct impact on the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Location Analytics Market Size, Share & Industry Analysis, By Component (Solution, Services), By Location Type (Indoor, Outdoor), By Deployment Type (Cloud, On-Premises), By End-User (Retail, Government, Energy and Utilities, Healthcare, Travel and Transportation, Telecommunications, and Others) and Regional Forecast, 2019-2026,” the market was worth USD 8.16 billion in 2019 and will exhibit a CAGR of 16.5% during the forecast period, 2019-2026.
Location analytics is used to derive insights into the analytical and demographical information of a specific region. The system is inclusive of the location-based learning or business data management. Technological advancements have played a major role in the development of efficient location analytics systems in recent years. The applications of these products in diverse industry verticals including healthcare, engineering, construction, supply chain, and manufacturing have led to a wider product adoption in recent years. The high investment in the research and development of efficient products will emerge in favor of market growth. Several large scale businesses and a few SMEs are looking to adopt location analytics with a view to gaining valuable insights into the strategies of competitors as well as derive proper business insights and enhance decision making. The presence of several large scale vendors will constitute an increase in the overall market size.
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An Overview of the Impact of COVID-19 on this Market:
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Increasing Number of Company Mergers and Acquisitions Will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. It highlights the latest strategies adopted by major companies and discusses their impact on the growth of the market. It is observed that company mergers are a growing trend among major companies across the world. IN October 2019, Alteryx Inc. announced that it has completed the acquisition of Feature Labs. Through this acquisition, the company will help businesses integrate the data science and machine learning algorithm. This will help bridge the gap between worker talent gap within the organization. Alteryx’s latest acquisition will not just help the company, but will have a direct impact on the growth of the overall market in the coming years. The report highlights a few of the other company mergers of recent times and discusses their impact on the growth of the overall market in the coming years.
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North America to Emerge Dominant; Presence of Several Large Scale Companies to Aid Growth
The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in North America is likely to emerge as the dominant region in the coming years. The presence of several large scale location analytics vendors in numerous countries across this region will aid the growth of the market in this region. The increasing product applications in BFSI, healthcare, and life-science sectors will lead to a wider product adoption. The increasing product adoption will open up a huge potential for the companies operating in this region. As of 2019, the market in North America was worth USD 2.77 billion and this value is projected to increase further in the coming years. The increasing internet penetration will also bode well for the growth of the market in the coming years.
Industry Developments:
October 2019 – Quuppa announced that it has collaborated with Orange Business Services to develop Smart Tracking. The product is an innovative real-time locating solution for locating assets in industrial environments in real-time.
List of companies profiled in the Location Analytics Market Research Report are:
- SAS Institute Inc.
- Oracle Corporation
- Esri
- Pitney Bowes Inc.
- Galigeo
- GeoMoby
- Alteryx Inc.
- IBM Corporation
- Microsoft Corporation
- IndoorAtlas Ltd.
- Quuppa
- TIBCO Software Inc.
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Detailed Table of Content
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Global Location Analytics Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Component (Value)
- Solution
- Geocoding
- Spatial Analysis
- Reporting and Visualization
- Others
- Services
- Consulting
- Integration and Implementation
- Support and Maintenance
- Solution
- By Location Type (Value)
- Indoor
- Outdoor
- By Deployment (Value)
- Cloud
- On-Premises
- By End-User (Value)
- Retail
- Government
- Energy and Utilities
- Healthcare
- Travel and Transportation
- Telecommunications
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Component (Value)
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