Pune, India, Aug. 30, 2021 (GLOBE NEWSWIRE) -- The global location analytics market size is expected to gain momentum by reaching USD 36.22 billion by 2028 while exhibiting an impressive CAGR of 15.1% between 2021 to 2028. In its report titled " Location Analytics Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, Services), By Location Type (Indoor, Outdoor), By Deployment (On-Premises, Cloud), By Application (Disaster and Emergency Response Management, Sales and Marketing Optimization, Supply Chain Management), By Vertical (BFSI, Transportation and Logistics, Government and Defense, Tourism and Hospitality), and Regional Forecast, 2021-2028." Fortune Business Insights mentions that the market stood at USD 11.80 billion in 2020.
In recent years the geospatial services have become very popular. It is highly in demand in various business applications such as retail and others. Moreover, innovative technologies such as Cloud Computing, Artificial Intelligence (AI), Internet of Things (IoT), Blockchain, and Big Data play an important role in widening the application area of location analysis. Thus, the involvement of such advanced technologies in location systems is expected to drive the market during the forecast period.
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List of Key Players Profiled in the Location Analytics Market
- Microsoft Corporation (New Mexico, United States)
- Google LLC (Alphabet Inc.) (California, United States)
- Zebra Technologies Corporation (Illinois, United States)
- Esri (California, United States)
- Precisely AB (Gothenburg, Sweden)
- SAP SE (Weinheim, Germany)
- International Business Machines Corporation (New York, United States)
- Pitney Bowes (Connecticut, United States)
- TomTom (Amsterdam, Netherlands)
- SAS Institute Inc. (North Carolina, United States)
- Oracle Corporation (California, United States)
- Cisco Systems, Inc. (California, United States)
- Hexagon Software (Stockholm, Sweden)
- GaliGeo (Paris, France)
- Here Technologies (Amsterdam, Netherlands)
- Geomoby (West Perth, Australia)
- Alteryx (California, United States)
- IndoorAtlas Ltd. (Oulu, Finland)
COVID-19 Impact
The global economy felt a state of shock due to the virus outbreak. Due to the pandemic, the market declined marginally in 2020 due to the sudden lockdown to curb the virus's spread. However, several key players worldwide are working on using location-based systems to track down the movement of COVID-19 positive patients. For instance, the Indian Ministry of Healthcare launched AarogyaSetu, an innovative Bluetooth and location service-based smartphone application that helps know the nearby location of COVID-19 positive patients, thus helping keep users safe. The market for location analytics is expected to boom back again in upcoming years.
Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 15.1 % |
| 2028 Value Projection | USD 36.22 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 13.52 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 160 |
| Segments covered | By Location, By Deployment, By Application , By Vertical and By Region |
| Growth Drivers | Artificial intelligence (AI) and Machine Learning (ML) based Solutions to Propel the Market |
| Increasing Adoption of Location-Based Applications among Several Industries to Favor Market Growth | |
| In an environment of increasingly developing digitization, businesses are relying on data to provide the best customer services and thereby grow their business revenues.. | |
| Pitfalls & Challenges | Concerns Associated with Geo Privacy and Confidential Data to Limit Market Growth |
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Market Segmentation:
By component, the market for location analytics is divided into Solution Services. By location type, it is bifurcated into indoor and outdoor. Based on deployment, it is divided into on-premises and cloud. Based on the application, it is segmented into disaster and emergency response management, sales, and marketing optimization, supply chain management, customer experience management, risk assessment and mitigation, and others. By vertical, it is divided into BFSI, transportation and logistics, government and defense, tourism and hospitality, manufacturing, healthcare, retail, IT and telecommunications, and others.
- Based on vertical, the retail segment held the highest share of 22.2% in 2020. This is attributable to the increasing use of GPS and spatial analytical tools to enhance indoor retail operations. Furthermore, efficient geographical data analysis helps retailers know about consumer behavior in terms of the product and service demand in a geographical context.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
What does the Report Provide?
The market report for location analytics provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth.
Driving Factor
Rising Adoption of Geospatial Tools to Cater Targeted Products to Fuel Market Growth
The rising digitization has made businesses rely on applications that provide them with data to know their customer behavior. By combining the location data, business knows consumer location that helps them in catering targeted products, know the regional demand ratio of specific products, and provide consumers guidance to nearby shops based on their needs. For instance, in May 2018, a leading technology and location intelligence company, Pitney Bowes Inc., announced the launch of their latest version of MapInfo Pro. This new version will help provide custom solutions for businesses and analysts for simplified user interfaces with robust GIS software, thereby driving location analytics market growth.
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Regional Insights
North America to Remain at Forefront; Rising Demand for Location Intelligence Solutions to Aid Growth
North America is expected to remain at the forefront and hold the largest global location analytics market share during the forecast period. This is due to the rising demand from government, defense, retail, and others for location analytics solutions. During the pandemic, the government relied heavily on geolocation tools to track down people's social distance. For instance, in March 2020, the US government announced its collaboration with Google, Facebook, and others to help them in locating people suffering from viruses. The market stood at USD 4.52 billion in 2020.
Asia Pacific is expected to showcase significant growth in the market. This is attributable to the rising industrialization in developing economies such as China and India. Additionally, increased investment in IT infrastructure and availability of low-cost smartphones promoting the regional market.
Competitive Landscape
Key Players Focus on Collaborations to Strengthen the Market Growth
The market is consolidated by major companies striving to maintain their position by focusing on new acquisitions and collaborations. For instance, in February 2019, TomTom consumer electronics company based in Amsterdam, collaborated with Microsoft Corporation to bring its traffic and map data on Microsoft's cloud services. Moreover, other key players adopt proactive strategies such as new partnerships, mergers, and new product launches to favor the market's growth in the upcoming years.
Industry Development
- January 2021 –The global leader in location technology, Esri announced the launch of ArcGIS Platform. This platform will help in integrating location capabilities in certain applications. This geospatial platform uses web frameworks and APIs of their preference and thus allows developers access to Esri's efficient position services.
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Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Location Analytics Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled (Covered for key 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Location Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Component (Value)
- Solution
- Geocoding and Reverse Geocoding
- Thematic Mapping and Spatial Analysis
- Reporting and Visualization
- Data Integration and ETL
- Others (Demographic Data, Route Optimization, Etc.)
- Services
- Consulting
- Integration and Implementation
- Support and Maintenance
- Solution
- By Location Type (Value)
- Indoor
- Outdoor
- By Deployment (Value)
- On-Premises
- Cloud
- By Application (Value)
- Disaster and Emergency Response Management
- Sales and Marketing Optimization
- Supply Chain Management
- Customer Experience Management
- Risk Assessment and Mitigation
- Others (Location Optimization, Remote Monitoring and Management, Etc.)
- By Vertical (Value)
- BFSI
- Transportation and Logistics
- Government and Defense
- Tourism and Hospitality
- Manufacturing
- Healthcare
- Retail
- IT and Telecommunications
- Others (Energy and Utilities, Education, Etc.)
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Component (Value)
- Global Location Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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