According to IMARC Group latest report titled “Location Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on location analytics market share. The report also includes competitor and regional analysis, and 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% during 2022-2027.
Location analytics, also called geoanalytics, refers to the tools that aid in interpreting and analyzing real-time or historical geographical data. It is usually used to predict consumer behavior or buying patterns. Location analytics relies on data collected through sensors, cameras, mobile devices, the global positioning system (GPS), social media channels, etc. It offers lucrative and actionable insights into business strategies and thus eases the decision-making process for companies across numerous sectors, including BFSI, healthcare, IT, retail, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The elevating utilization of Internet of Things (IoT) devices and the escalating digitalization levels across industries are among the key factors driving the location analytics market. Additionally, the inflating advancements in network infrastructures and the rising sales of smartphones, laptops, tablets, and other consumer electronic products are further catalyzing the market growth. Besides this, the increasing need among organizations to access the dynamic location information of consumers to expand their customer base and increase brand awareness is acting as another significant growth-inducing factor. Moreover, the growing adoption of asset management tools to optimize business processes, generate more revenue, detect new opportunities, mitigate potential risks, etc., is also augmenting the global market. Apart from this, the integration of cloud computing, artificial intelligence (AI), Blockchain, Big Data, and other new-age technologies in geoanalytical applications across industries is projected to fuel the location analytics market in the coming years.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Alteryx Inc.
- Cisco Systems Inc.
- Google LLC
- HERE Technologies
- Hexagon AB
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Pitney Bowes Inc.
- SAS Institute Inc.
- Sisense Inc.
- TIBCO Software Inc
Location Analytics Market Segmentation:
Our report has categorized the market based on region, component, deployment mode, location type, application and end use industry.
Breakup by Component:
Breakup by Deployment Mode:
Breakup by Location Type:
Breakup by Application:
- Remote Monitoring
- Sales and Marketing Optimization
- Asset Management
- Risk Management
- Facility Management
Breakup by End Use Industry:
- Transport and Logistic
- IT and Telecom
- Retail and Consumer Goods
- Media and Entertainment
Breakup by Region:
- North America (United States, 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, Other)
Key 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
- Comprehensive Mapping of the Competitive Landscape
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