Location Analytics Market is valued at USD 7.95 Billion in 2017 and expected to reach USD 29.47 Billion by 2027 with a CAGR of 14% over the forecast period.
Location Analytics Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Fast & Automatic Location Services, Sales growth demand and Improved Efficiency are key driving factors for the growth of Location Analytics Market.
The process to develop the insights from geographic component or location for business data is known as location analytics or geoanalytics. The process helps to extract valuable insights across industries which include events, people, assets, transactions and more. For different business processes, it helps to understand about relationship and new trends in the data and location-specific data helps to optimize the business procedures based on the predictions made from location data values. These strategies help to understand the consumer behavior and target the specific customers based on their biggest needs and personalized content. The location analytics can create new sales opportunities, reduce cost and bring changes in operational efficiency for companies using geoanalytics for their business strategies. The geoanalytics can be implemented in wide variety of applications including logistics, assembly, manufacturing and distribution. Recent technology like IoT, smart vehicles, smart cities and others also depends on location analytics.
During the COVID-19 pandemic, Data analytics helped the health experts to study the COVID-19 spread globally and predict its further spread and create new plans and treatments for clinical tests. Location analytics helped the global leaders to come up with lockdown strategies in particular with region wise density of COVID patients. The pandemic has also changed the consumer behavior in order to maintain the social distancing practices. Location analytics have found the way for different businesses to study the behavior patterns in different regions and adopt strategies accordingly to boost their productions.
Global Location Analytics Market report is segmented on the basis of Analytics Methods, Components, Location Positioning, End-User and Region & country level. Based upon Methods, Global Location Analytics market is classified as Descriptive, Predictive, Diagnostic and Prescriptive. The market is classified on the basis of components as Solutions and Services. Based on Location Positioning, market is classified as Indoor and Outdoor Positioning. On the basis of End-User, market is divided as Manufacturing, Logistics, Healthcare, Food, Retail and Others.
The regions covered in this Global Location Analytics Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Location Analytics is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia, Africa, etc.
Some major key players for Global Location Analytics Market are
News: Fulcrum data insights extends to Esri platform
January 29, 2021; New integration of mobile application with Esri platform announced by Fulcrum. The location based data of Fulcrum then can be used in products like Esri ArcGIS which helps to increase productivity for quality assurance teams, safety and asset management inspectors and improves location intelligence and data integration among cross-functional teams.
The Spatial Distillery Co. and Lepton Software partnership
January 29, 2021; Ex-MD of Pitney Bowes software and Lepton Software, India’s leading location intelligence solution provider joined hands to form The Spatial Distillery Co., an Australian based entity to bring world class location intelligence solutions in various public sectors like Retail, Telecommunication, Transport and others in New Zealand and Australian markets.
The major factors driving the growth of Global Location Analytics Market are Fast & Automatic Location Services, Sales growth demand and Improved Efficiency. Furthermore, other integrated technologies like hyper-local intelligence turn the data automatically to location-based insights and help developers, scientists, analysts and other business users to improve information. It also helps to enhance business collaboration with other teams and make improved decisions for increasing revenue and reducing cost. However, Data privacy issues, high initial cost and lack of uniform regulations and policies are certain factors expected to limit the market growth. On the other hand, other hybrid technologies like Artificial Intelligence (AI), Machine Learning (ML), augmented data management and Blockchain can create ample opportunities in the Location analytics market.
North America is expected to dominate the Global Location Analytics Market within the forecast period attributed to early adoption to technologies in this region. The U.S. dominates the market in terms of largest location service providers. There is a rising trends of automation and technology support in this region which creates lot of data from businesses across holds a great opportunity for location analytics market to grow. Other important factors which help to grow market in this region is IT infrastructure, policy framework and rising demand in geoanalytics. Asia Pacific is also expected to develop at a significant rate owing to the high internet penetration in the region supported by the increasing use of location based services and collaborations.
|2015 - 2020
|2021 - 2027
|Market Size in 2020:
|USD 7.95 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2027:
|USD 29.47 Billion
|Tables, Charts & Figures:
|Esri, Mapinfo, Lyft, Domo, Near, Anaplan, Lookout, Localytics, GoodData, Alteryx, Outbrain and others
|By Analytics Methods, By Components, By Location Positioning, By End-User
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
Middle East and Africa
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