Location Analytics Market Global Key Players, Covid-19 Impact Analysis, Application, Size, Share, Demands, Trends and Forecasts to 2026

The location analytics size is projected to grow from USD 15.7 billion in 2021 to 29.9 USD billion in 2026, at a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period. The location analytics industry is driven by increasing use of spatial data and analytical tools. However, rising in the use of location-based applications and use of location data and analytics to fight COVID-19 further contributes to the growth of the location analytics market.

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Based on Component, the service segment is expected to grow at a higher CAGR during the forecast period

The service segment of the location analytics market is further segmented into professional services (consulting, support and maintenance, and deployment and integration) and managed services. This section discusses each service subsegment's market size and growth rate based on type (for selected sub segments) and region.

Based on deployment mode, cloud segment is segmented to account for a larger market size during the forecast period Most
Cloud computing refers to the storage, management, and processing of data via networks of remote servers, which are typically accessed via the Internet. According to Statista, cloud computing would generate more than USD 300 billion in revenue in 2020 as a component of IT services. At the same time, PwC shows the COVID-19 crisis has accelerated the cloud transition even further as per data during the first quarter of 2020, cloud spending increased by 37% to USD 29 billion. The increasing generation of data leads to various challenges for several organizations. These challenges include storage, privacy, and affordability.

Based on application Sales and marketing optimization segment to grow at a higher CAGR during the forecast period
The location analytics market based on application is segmented into risk management, emergency response management, customer experience management, remote monitoring, supply chain planning and optimization, sales and marketing optimization, location selection and optimization, and others (predictive asset management and inventory management). The sales and marketing optimization segment is expected to grow at a rapid pace during the forecast period. Location analytics can help analyze campaign responses for sales and marketing optimization based on different demographics, individual time merchandising, and the time when campaigns get maximum responses. The sales and marketing information, when plotted on maps, can help understand customer preferences based on their surroundings and products purchased leading to its adoption in sales and marketing optimization segment.

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Indoor location segment to grow at the highest CAGR during the forecast period
The location analytics market by location type has been segmented into outdoor location and indoor location. Indoor location technologies modernize the use of smartphones by incorporating GPS and other positioning technologies with style mapping, which provides navigation services inside malls, megastores, offices, airports, casinos, universities, and hospitals leading to the growth of the location analytics market across the globe in this segment.
Based on organization size, large enterprise segment to account for a larger market size during the forecast period Most Large enterprises collect customer and market data to help improve experiences and drive business growth. Most organizations are adopting location analytics solutions to provide better navigation and tracking ability to track people and object indoor and outdoor. Predicting revenue for stores is quite critical. It allows retail leaders to be agile, makes informed decisions regarding store operations and also effectively plan new store openings. Leveraging spatial data science can help businesses, small or big, gain a competitive edge, and pursue continual growth.

APAC is expected to grow at a higher CAGR during the forecast period
Asia Pacific (APAC) has continually presented lucrative market opportunities for location analytics Solutions providers with a notable increase in location analytics across its developed and emerging countries., Japan, China, and India have displayed ample growth opportunities in the location analytics market. Owing to a rapidly proliferating technology-backed economical structure, APAC is expected to emerge as the fastest-growing region in location analytics Solutions demand during the forecast period.

Given below is the breakup of the primary respondents:
• By Company Type: Tier 1 – 34%, Tier 2 – 43%, and Tier 3 – 23%
• By Designation: C-level – 50%, Directors – 30%, and Others – 20%
• By Region: North America – 30%, Europe – 30%, APAC – 25%, MEA – 10%, Latin America– 5%.

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Some prominent players profiled in the study include IBM(US), Google(US), Oracle(US), Microsoft(US), Esri(US), SAS(US), Precisely(US), SAP(Germany), CISCO(US), TomTom(Netherlands), Hexagon(Sweden), Zebra Technologies(US), Alteryx(US), HERE(US), Purple(UK), Galigeo (France), Geomoby (Western Australia), Quppa (Finland), CleverMaps (Czech Republic), IndoorAtlas (Finland), Lepton Software(India), CARTO(US), TIBCO(US), Sparkgeo (Canada), PlaceIQ (US), Ascent Cloud(US), Foursquare(US), MapLarge (Georgia), SedimentIQ(US), Ariadne Maps (Germany), Locale.ai (India), Geoblink (Spain), Nrby(US), Mapidea (Portugal), GapMaps (Australia), LocationsCloud(US).

Research coverage:
The market study covers the location analytics across different segments. It aims at estimating the market size and the growth potential of this market across different segments, such as Component (Solutions and Services), Location Type (Indoor Location and Outdoor Location), Application, Deployment Mode, Organization Size, Industry Vertical, and Region. The regional analysis of the location analytics covers North America, Europe, APAC, MEA, and Latin America

The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report :
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall location analytics and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

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This release was published on openPR.