Pune, India, April 12, 2022 (GLOBE NEWSWIRE) -- The global location analytics market size was USD 13.66 billion in 2021. The market is projected to grow from USD 15.76 billion in 2022 to USD 43.97 billion by 2029, exhibiting a CAGR of 15.8% during the forecast period. This information is provided by Fortune Business Insights, in its report, titled, “Location Analytics Market Forecast, 2022-2029.”
Industry Developments:
April 2021: Quuppa, which is a location intelligence company, collaborated with Actility, a supplier of LPWAN connectivity solutions. Through this collaboration, Quuppa and Actility intend to provide consumers accurate indoor and outdoor location services utilizing Abeeway’s ATEX licensed tags.
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Economic Recession to Deter Market Growth amid Pandemic
The demand for location analytics intelligence solutions has grown considerably in the past few years. Nevertheless, owing to the spread of the COVID-19 pandemic, the market has deteriorated slightly in 2020. This is on account of the negligible adoption of location intelligence solutions among verticals. Numerous market players functioning in the market perceived a fiscal depression and opposing influence on revenue growth.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 15.8% |
| 2029 Value Projection | USD 43.97 Billion |
| Base Year | 2021 |
| Location Analytics Market Size in 2021 | USD 13.66 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 160 |
| Segments covered | Component, Location Type, Deployment, Application, Vertical and Geography |
| Location Analytics Market Growth Drivers | Vertical Segment to Dominate during Forecast Period |
| Surging Acceptance of Location-Based Applications among Numerous Industries to Foster Market Growth | |
| North America to Dominate Stoked by Rising Demand for Services from Various Industries |
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Driving Factors:
Surging Acceptance of Location-Based Applications among Numerous Industries to Foster Market Growth
In an environment of expansively establishing digitization, businesses are depending on data to offer the best customer services and thus bolster their business incomes. Businesses shall utilize the capability to predict advanced data to thereby administer their business plans, such as deciding regional preferences, suitable pricing tactics, and peak buying phases. Additionally, by merging geospatial data with GIS, businesses can access any customer's location to provide apt product details and supervision to nearby shops based on their requirements. This is expected to bolster the location analytics market growth during the forecast period.
Segments:
Vertical Segment to Dominate during Forecast Period
Based on component, the market is segmented into solutions and services.
Based on location type, the global location analytics market is segmented into indoor and outdoor.
By deployment, the market is diversified into cloud and on-premises.
By application, the global market 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, the global market is segmented into BFSI, transportation and logistics, government and defense, tourism and hospitality, manufacturing, healthcare, retail, telecommunications, and others. The retail segment has captured the largest market share owing to the increasing use of GPS and spatial analytical tools to enhance indoor retail operations.
Geographically, the market is segmented across five major regions, North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
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Report Coverage:
The location analytics market report presents a methodical review of the market and an analysis of the leading segments of the market. It delivers an expansive breakdown of dominating companies and their perceptive notions to boost the market growth for financial gains. It also shares tangible insights that help business experts with their investment viewpoint. The regional aspects and their role in shaping the market positively are offered in the following report. Besides, COVID-19 effects have been added for surplus information and how it is anticipated to sway the demand for location analytics in the forthcoming future.
Regional Insights:
North America to Dominate Stoked by Rising Demand for Services from Various Industries
North America is predicted to hold the largest location analytics market share. The growth is supported by the surging demand for position intelligence and geospatial analytics solutions among industry verticals such as government, defense, retail, and others.
Asia Pacific is projected to display the greatest CAGR during the forecast period. Significant augmentation in the acceptance of location intelligence solutions by governments in the area for public security intentions has fueled the growth.
Europe is estimated to demonstrate a significant CAGR. The surging significance of geospatial data in infrastructure management and planning is predicted to fuel growth.
List of Key Players Mentioned in the Report:
- Microsoft Corporation (U.S.)
- Google LLC (Alphabet Inc.) (U.S.)
- Zebra Technologies Corporation (U.S.)
- Esri (U.S.)
- Hexagon Software (Sweden)
- Here Technologies (Netherlands)
- Precisely AB (Sweden)
- SAP SE (Germany)
- TomTom (Netherlands)
- SAS Institute Inc. (U.S.)
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Major Table of Contents:
- Global Location Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- 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 (USD)
- Indoor
- Outdoor
- By Deployment (USD)
- On-Premises
- Cloud
- By Application (USD)
- 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 (USD)
- BFSI
- Transportation and Logistics
- Government and Defense
- Tourism and Hospitality
- Manufacturing
- Healthcare
- Retail
- IT and Telecommunications
- Others (Energy and Utilities, Education, Etc.)
- By Region (USD)
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Location Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- 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 (USD)
- Indoor
- Outdoor
- By Deployment (USD)
- On-Premises
- Cloud
- By Application (USD)
- 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 (USD)
- BFSI
- Transportation and Logistics
- Government and Defense
- Tourism and Hospitality
- Manufacturing
- Healthcare
- Retail
- IT and Telecommunications
- Others (Energy and Utilities, Education, Etc.)
- By Country (USD)
- United States
- Vertical
- Canada
- Vertical
- United States
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