Global Location Analytics Market 2021 Net Worth is US$ 36.22 billion and Forecasts by 2028 | With Top Key Players are: Microsoft Corporation, Google LLC (Alphabet Inc.), Zebra Technologies Corporation, Esri, Precisely AB, SAP SE, International Business Ma

Location Analytics Market 2021-2028

New study report " Location Analytics Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.

Market Overview:

The global location analytics market size is expected to gain momentum by reaching USD 36.22 billion by 2028 while exhibiting an impressive CAGR of 15.1% between 2021 to 2028. In its report titled "Location Analytics Market, 2021-2028," Fortune Business Insights mentions that the market stood at USD 11.80 billion in 2020.

In recent years the geospatial services have become very popular. It is highly in demand in various business applications such as retail and others. Moreover, innovative technologies such as Cloud Computing, Artificial Intelligence (AI), Internet of Things (IoT), Blockchain, and Big Data play an important role in widening the application area of location analysis. Thus, the involvement of such advanced technologies in location systems is expected to drive the market during the forecast period.

Key Players in this market are:

Microsoft Corporation (New Mexico, United States)
Google LLC (Alphabet Inc.) (California, United States)
Zebra Technologies Corporation (Illinois, United States)
Esri (California, United States)
Precisely AB (Gothenburg, Sweden)
SAP SE (Weinheim, Germany)
International Business Machines Corporation (New York, United States)
Pitney Bowes (Connecticut, United States)
TomTom (Amsterdam, Netherlands)
SAS Institute Inc. (North Carolina, United States)
Oracle Corporation (California, United States)


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COVID-19 Impact-

The global economy felt a state of shock due to the virus outbreak. Due to the pandemic, the market declined marginally in 2020 due to the sudden lockdown to curb the virus's spread. However, several key players worldwide are working on using location-based systems to track down the movement of COVID-19 positive patients. For instance, the Indian Ministry of Healthcare launched AarogyaSetu, an innovative Bluetooth and location service-based smartphone application that helps know the nearby location of COVID-19 positive patients, thus helping keep users safe. The market for location analytics is expected to boom back again in upcoming years.

Competitive Landscape-

Key Players Focus on Collaborations to Strengthen the Market Growth

The market is consolidated by major companies striving to maintain their position by focusing on new acquisitions and collaborations. For instance, in February 2019, TomTom consumer electronics company based in Amsterdam, collaborated with Microsoft Corporation to bring its traffic and map data on Microsoft's cloud services. Moreover, other key players adopt proactive strategies such as new partnerships, mergers, and new product launches to favor the market's growth in the upcoming years.

Segmentation-

By component, the market for location analytics is divided into Solution Services. By location type, it is bifurcated into indoor and outdoor. Based on deployment, it is divided into on-premises and cloud. Based on the application, it 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, it is divided into BFSI, transportation and logistics, government and defense, tourism and hospitality, manufacturing, healthcare, retail, IT and telecommunications, and others.

Based on vertical, the retail segment held the highest share of 22.2% in 2020. This is attributable to the increasing use of GPS and spatial analytical tools to enhance indoor retail operations. Furthermore, efficient geographical data analysis helps retailers know about consumer behavior in terms of the product and service demand in a geographical context.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Regional Insights-

North America to Remain at Forefront; Rising Demand for Location Intelligence Solutions to Aid Growth

North America is expected to remain at the forefront and hold the largest global location analytics market share during the forecast period. This is due to the rising demand from government, defense, retail, and others for location analytics solutions. During the pandemic, the government relied heavily on geolocation tools to track down people's social distance. For instance, in March 2020, the US government announced its collaboration with Google, Facebook, and others to help them in locating people suffering from viruses. The market stood at USD 4.52 billion in 2020.

Asia Pacific is expected to showcase significant growth in the market. This is attributable to the rising industrialization in developing economies such as China and India. Additionally, increased investment in IT infrastructure and availability of low-cost smartphones promoting the regional market.

What does the Report Provide?

The market report for location analytics provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth.

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Table Of Content:

Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Key Takeaways
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Porter’s Five Force Analysis
Global Location Analytics Key Players Market Share Insights and Analysis, 2020
Continue….

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