The new report by Expert Market Research titled, ‘Global Location Analytics Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global location analytics market trends, assessing the market based on its segments like components, deployment types, locations, services, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 14.80%
The increasing adoption of cloud-based location analytics software by medium and large enterprises, aimed towards increasing business profitability, is driving the market growth. Over the forecast period, the anticipated increase in application of location analytics in the BFSI sector is likely to bolster the risk management, prevent frauds, and spearhead the sales and marketing, is likely to augment the market growth.
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Moreover, the rapid industrialisation and commercialisation across the emerging economies are anticipated to propel the need for optimisation of assets. In terms of region, North America accounts for a significant share of the market owing to the technologically advanced digital infrastructure in countries like the United States of America.
Location Analytics Industry Definition and Major Segments
Location analytics, also known as geoanalytics, is defined as the process of adding geographical data to the data assets of a business in order to provide valuable insights. In this system, the maps are positioned uniquely which offer insights on events, transactions, assets, and even on people. It is an integral part many businesses.
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On the basis of component, the market can be segmented into:
- Geocoding and Reverse Geocoding
- Data Integration and ETL
- Reporting and Visualisation
- Thematic Mapping and Spatial Analysis
- Integration and Deployment
- Support and Maintenance
Based on deployment type, the market has been segmented into:
By location, the market has been divided into:
On the basis of services, the market has been segmented into:
- Risk Management
- Emergency Response Management
- Customer Experience Management
- Remote Monitoring
- Supply Chain Planning and Optimisation
- Sales and Marketing Optimisation
The significant applications included in the market are as follows:
- Banking, Financial Services and Insurance
- Government and Defense
- Media and Entertainment
- Transportation and Logistics
- Energy and Utilities
The regional markets for location analytics include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Location Analytics Market Trends
The key trends in the location analytics market include the increasing adoption of smartphones, laptops, and tablets by the working-class population, which is bolstering the operational efficiency of location analytics. The increasing integration of artificial intelligence in location analytics is further penetrating location analytics in organisations.
The technological advancements in transport and logistics and retail industry are propelling the demand for cloud-based location analytics software. Furthermore, another crucial trend in the market includes the thriving e-commerce industry, which heavily depends on the location analytics for greater customer satisfaction, improved feedback, and accuracy of delivery.
Key Market Players
The major players in the market are SAS Institute Inc., Oracle Corporation, Microsoft Corporation, IBM Corporation, Cisco Systems Inc., Environmental Systems Research Institute Inc., Pitney Bowes Inc., Galigeo SAS, and Alteryx, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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