According to the latest report of the IMARC group titled “Location Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which includes information on Location analytics industry share. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market. The market reached a value of US$16.12 billion in 2021. The global location analytics market to reach a value of US$45.77 billion by 2027 exhibiting a CAGR of 18.20% over the period 2022-2027.
Location analytics, also known as geoanalytics, refers to tools that help interpret and analyze real-time or historical geographic data. It is generally used to predict consumer behavior or buying habits. Location analytics relies on data collected through sensors, cameras, mobile devices, Global Positioning System (GPS), social media channels, etc. It offers lucrative and actionable insights into business strategies and thus facilitates the decision-making process for businesses in many industries. , including BFSI, healthcare, IT, retail, etc.
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Like the novel coronavirus (COVID-19[female[feminine) the crisis is taking over the world, we are constantly monitoring the changes in the markets, as well as the purchasing behavior of consumers around the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic.
Market trends:
Growing usage of Internet of Things (IoT) devices and rising levels of digitalization across industries are some of the key factors driving the location analytics market. Additionally, the inflated advancements in network infrastructure and rising sales of smartphones, laptops, tablets, and other consumer electronics are further catalyzing the growth of the market. Additionally, the growing need for organizations to access consumers’ dynamic location information to expand their customer base and increase brand awareness acts as another significant growth driver. Moreover, the increasing adoption of asset management tools to optimize business processes, generate more revenue, detect new opportunities, mitigate potential risks, etc., is also increasing the global market. Apart from this, the integration of cloud computing, Artificial Intelligence (AI), Blockchain, Big Data and other new era technologies in geoanalytical applications across industries is expected to fuel the market for location analysis in the years to come.
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Competitive landscape with key players:
The report has also analyzed the competitive landscape of the market with some of the key players.
- Alteryx Inc.
- Cisco Systems Inc.
- Esri
- Galigeo
- Google LLC
- HERE Technologies
- Hexagon AB
- International Commercial Machinery Society
- Microsoft Corporation
- Oracle Corporation
- Pitney Bowes Inc.
- SAS Institute Inc.
- Sisens Inc.
- TIBCO Software Inc.
Location Analytics Market Segmentation:
Our report has categorized the market based on region, component, mode of deployment, type of location, application, and end-use industry.
Breakdown by component:
Breakdown by deployment mode:
Breakdown by location type:
Breakdown by application:
- Remote monitoring
- Sales and Marketing Optimization
- Asset Management
- Risk management
- Facilities Management
- Others
Breakdown by end-use industry:
- BFSI
- Health care
- Hospitality
- Government
- Transport and logistics
- IT and Telecom
- Retail and consumer goods
- Media and Entertainment
- Others
Breakdown by region:
- North America (USA, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
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