PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1193422
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1193422
Location Analytics Market size was valued at USD 17,609.3 Million in 2021, expanding at a CAGR of 15.6% from 2023 to 2028.
Location analytics is solution that augments organisational data with a layer of spatial information to forecast customer purchasing trends. This technology employs data gathered from cameras, mobile devices, sensors, GPS, and social media platforms to provide both current and historical geographic information.
Market Dynamics
The market will expand quickly as a result of the expanding location analytics market, which is based on smartphone technology and is used primarily for advertising purposes. There is a high need for this technology as a result of the expansion of mobile location analytics in the retail industry. The market will be driven by the technology's quick consumer access and ease of integration. Smartphones are used in commercial settings to improve productivity, mobility, and safety as well as to advance customer service and maintain effective communication with clients and suppliers. This makes it possible for workers to work effectively and remotely. A campaign to encourage small businesses to invest in their mobile presence was started by Appify in 2019. Similarly to this, large corporations like IBM, Microsoft, and others strive to make significant investments to entice SMEs to develop software. According to 31% of businesses, the public cloud is their top priority. 6% of businesses will aim for a hosted private cloud, while 9% would prioritise an on-premises private cloud. Therefore, it is determined that these developments will fuel the market between 2023 and 2027. Due to its operational flexibility and real-time deployment simplicity for businesses, cloud deployment is expanding quickly. Additionally, it provides many advantages like lower operational expenses, an easy implementation process, and greater scalability in terms of connected resources.
Segmental Analysis:
Based on industry vertical, the transport & Logistic segment is expected to dominate the market over the forecast period. Location intelligence has become more popular in the transportation and logistics industry because it makes it easier to grasp the distance and travel times between locations with precise geographic coordinates and the current routable road network. Additionally, it provides several routes with travel time and real-time traffic analyses to get to the destination. Additionally, it lists road closures and actual daily closures at the location. Retail challenges such as drive time and distance profiling, site selection planning, franchise area evaluation and overlap analysis, sales & market share analysis, market size & demand estimation by location/product, territory optimization & planning, and customer segmentation & profiling are all resolved by location intelligence.
Regional Analysis:
North America is expected to hold the largest market share over the forecast period due to greater usage of automation and technical advancements like the Internet of Things (IoT) and Machine Learning (ML). Additionally, because of the vast amounts of data produced by computers, GPS, and other devices, businesses are eager to utilise these data through analytical solutions. The region's location analytics market is expanding due to the rising need for real-time data analytics solutions across numerous industries, including retail, government and defence, BFSI, transportation, and others, to enhance corporate performance and efficiency.
Recent Development:
In October 2021, Digital Envoy, the pioneer of IP intelligence and high-quality consent-based location data, acquired the analytics business of Location Sciences, a location verification provider. With this acquisition, Digital Envoy will be able to deliver reports and visualisations in addition to its existing solutions for non-ad-tech clients in Consulting, OOH, Hedge-Funds, and Real-Estate. Clients will get access to the analytic data without having to reveal any Ad-IDs or geographic coordinates.
Key features of the study:
This proposed research study on the Location Analytics market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2023-2028), considering 2021 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Location Analytics market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Location Analytics market
The impact of COVID-19 on the Location Analytics market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Location Analytics market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Location Analytics market, we have also included a competitive landscape and key innovator analysis for the Location Analytics market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Location Analytics market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Location Analytics market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL LOCATION ANALYTICS MARKET KEY PLAYERS
Microsoft Corporation
Oracle
Trimble Inc.
Hexagon AB
Alphabet Inc.
IBM Corporation
SAS Institute Inc.
Cisco Systems, Inc.
ALTERYX, INC.
SAP
Galigeo
Clever Maps
GLOBAL LOCATION ANALYTICS MARKET, BY COMPONENT
Software
Services
GLOBAL LOCATION ANALYTICS MARKET, BY LOCATION TYPE
Indoor
Outdoor
GLOBAL LOCATION ANALYTICS MARKET, BY DEPLOYMENT MODE
Cloud
On-premise
GLOBAL LOCATION ANALYTICS MARKET, BY APPLICATION
Remote Monitoring
Sales & Marketing Optimization
Asset Management
Risk Management
Facility Management
Others
GLOBAL LOCATION ANALYTICS MARKET, BY INDUSTRY VERTICAL
BFSI
Retail & Consumer Goods
Healthcare
Hospitality
Transport & Logistic
Government
IT & Telecom
Media and Entertainment
Others
GLOBAL LOCATION ANALYTICS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA