Pune, Oct. 14, 2020 (GLOBE NEWSWIRE) — The global location analytics market size is expected to gain momentum by reaching USD 25.48 billion by 2027 while exhibiting a CAGR of 13.0% between 2020 and 2027. This is attributable to factors such as the increasing adoption of advanced location analytics-based application across the retail sector and the significant emergence of ecommerce platforms across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Location Analytics Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, Services), By Location Type (Indoor, Outdoor), By Deployment (Cloud, On-Premises), By Application (Disaster and Emergency Response Management, Sales and Marketing Optimization, Supply Chain Management, Customer Experience Management, Risk Assessment and Mitigation, Others), By Vertical (BFSI, Transportation & Logistics, Government & Defense, Tourism and Hospitality, Manufacturing, Healthcare, Retail, IT and Telecommunications, and Others), and Regional Forecast, 2020-2027.” The report further observes that the market stood at USD 9.70 billion in 2019.
Surging Demand for Location-based Services to Track Patients amid COVID-19
The widespread effects of the global pandemic have put a tremendous stress on the healthcare services. The increasing rate of COVID-19 patients is propelling the medical institutions to adopt advanced technologies to track and analyze the patient count. This is driving the demand for location intelligence services that is expected to bode well for the market in the forthcoming years.
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Location analytics is a vital tool that extracts valuable insights from business data by including the geolocation information. They are widely adopted to analyze transactional data such as logistics, sales, and supply chains across several industrial applications. They further add a new dimension to aid businesses draft effective sales strategies by contextualizing required figures and reduce operational costs largely.
What does the Report Include?
The market report includes a detailed assessment of various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
Increasing Adoption of Location Intelligence in Retail Sector to Aid Growth
The increasing adoption of advanced technologies such as cloud and artificial intelligence (AI) has surged the competition amongst retail companies. The retail sector is witnessing a paradigm shift in the handling of operations and services as the players are focusing on developing effective sales strategies by adopting location analytics to deliver best customer services. The emergence of ecommerce is further propelling the demand for advanced location intelligence services to track, monitor, and manage operations. These factors are expected to positively contribute to the growth of the global location analytics market during the forecast period.
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Outdoor Segment to Dominate the Market Owing to Increasing Adoption of Geospatial Services
The outdoor segment, based on location type, is expected to experience a significant growth backed by increasing adoption of geospatial and positioning services to gain insights on weather forecast, geographical maps, and land mapping by the companies during the forecast period.
Presence of Established Geospatial Service Providers in North America to Augment Growth
Among all the regions, North America is expected to experience an exponential growth in the global location analytics market in the forthcoming years. The growth is attributable to the presence of established location analytics manufacturers that provide advanced geospatial services in the countries such as the U.S. The region generated USD 3.21 billion in 2019 in terms of revenue.
The market in Asia-Pacific is expected to showcase a considerable growth owing to the increasing government investments to develop location analytics-based geographical information system (GIS) applications between 2020 and 2027.
Major Companies Focus on Product Expansion to Strengthen Their Positions and Boost Sales Revenue
The global location analytics market is fragmented by the presence of major companies that are striving to maintain their stronghold by expanding their location analytics services to cater to the growing demand from the enterprises. In addition to this, other key players are adopting strategies such as merger and acquisition, collaboration, and partnership to strengthen their positions in the fiercely competitive market in the forthcoming years.
- March 2020: IBM Corporation extended its free location analytics-based tools and applications to aid in tracking and informing COVID-19 positive cases across the U.S. and other parts of the world. According to the company, the AI-based tools efficiently detect and map data based on geographic context.
List of the Companies Profiled in Location Analytics Market:
- Alteryx, Inc. (California, United States)
- CartoDB, Inc. (New York, United States)
- Cisco Systems, Inc. (California, United States)
- Cuebiq, Inc. (New York, United States)
- Environmental Systems Research Institute, Inc. (Esri) (California, United States)
- Galigeo (Paris, France)
- GapMaps (Docklands, Australia)
- Geobis International (Miami, United States)
- GEOBLINK SL (London, United Kingdom)
- GeoMoby (Australia)
- Google LLC (California, United States)
- HERE Global B.V. ( Amsterdam, Netherlands)
- IBM Corporation (New York, United States)
- IndoorAtlas Ltd. (Oulu, Finland)
- InnoQuant Strategic Analytics (MOCA) (Madrid, Spain)
- Ixsight (India)
- Jakala S.p.A. (Milan, Italy)
- Maptive (San Francisco, California)
- Microsoft Corporation (Washington, United States)
- Oracle Corporation (California, United States)
- PaeDae, Inc. dba Gimbal (California, United States)
- Pitney Bowes Inc. (Connecticut, United States)
- Placed, LLC (Colorado, United States)
- Precisely (New York, United States)
- SAS Institute, Inc. (North Carolina, United States)
- Sisense Inc. (New York, United States)
- TIBCO Software, Inc. (California, United States)
- X-tract.io (New York, United States)
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Detailed Table Of Contents
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- 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 Market Share Analysis and Matrix, 2019
- Key Market Insights and Analysis, By Segments
- Global Location Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Component (Value)
- Geocoding and Reverse Geocoding
- Thematic Mapping and Spatial Analysis
- Reporting and Visualization
- Data Integration and ETL
- Others (Demographic Data, Route Optimization, Etc.)
- Integration & Implementation
- Support & Maintenance
- By Location Type (Value)
- By Deployment (Value)
- By Application (Value)
- Disaster and Emergency Response Management
- Sales and Marketing Optimization
- Supply Chain Management
- Customer Experience Management
- Risk Assessment and Mitigation
- Others (Location Optimization, Remote Monitoring and Management, Etc.)
- By Vertical (Value)
- Transportation and Logistics
- Government and Defense
- Tourism and Hospitality
- IT and Telecommunications
- Others (Energy and Utilities, Education, Etc.)
- By Region (Value)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
- By Component (Value)
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