The global location analytics market size is expected to grow from $16.15 billion in 2021 to $18.75 billion in 2022 at a compound annual growth rate (CAGR) of 16.1%. The global location analytics market size is expected to grow to $32.35 billion in 2026 at a CAGR of 14.6%.
What is the Global Location Analytics Market?
The location analytics market consists of sales of location analytics services by entities (organizations, proprietors, partnerships) that contain a geographical component of the data which allows for new dimensions of analysis and insights. Location analytics uses visualization and analysis of geospatial data. This is most commonly used for transactional data including sales, logistics, and supply chains to add a new dimension that helps contextualize specific figures and show the flow of items, sales, and supplies with depth and distance.
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What drives the Global Location Analytics Market?
Increasing use of spatial data and analytical tools is expected to propel the growth of the location analytics market going forward. The spatial data and analytical tools enhance the understanding, insights, decision making, and prediction by adding layers of geographic data such as traffic, weather, geography, and others. Location data has the power to forecast demand, identify supply chain disruptions, facilitate infrastructure planning, and others. For instance, according to Impact Networking, a US-based integrated business technology company, the average return on investment for enterprises using business intelligence and analytics is 1300%. Also, according to a 2020 survey by Forbes, an American business magazine, 75% of retailers regarded location intelligence (LI) as crucial for their revenue growth strategy. Therefore, the increasing use of spatial data and analytical tools drives the growth of the location analytics market.
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Global Location Analytics Market Segments
The global location analytics market is segmented:
By Location Type: Outdoor, Indoor
By Component: Solutions, Services
By Deployment Mode: On Premise, Cloud
By Application: Risk Management, Customer Experience Management, Remote Monitoring, Supply Chain Planning and Optimization, Emergency Response Management, Location Selection and Optimization, Others
By Industry Vertical: Transportation and Logistics, Retail, BFSI, IT and Telecommunication, Healthcare, Energy and Utilities, Manufacturing, Others
By Geography: The regions covered in the location analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Location Analytics Global Market Report 2022provides market size and growth forecasts for the global location analytics market, global location analytics market share, location analytics market segments and geographies, location analytics market competitive landscape including leading competitors’ revenues, profiles and market shares. The location analytics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Location Analytics Industry Playersinclude Alteryx Inc, Cisco Systems Inc., CleverMaps, Environmental Systems Research Institute Inc. (ESRI), GaliGeo, Google LLC, Here technologies, Hexagon, Indoor Atlas ltd, Lepton Software, Microsoft corporation, Pitney Bowes Inc., PlaceIQ, Precisely, Purple, SAP, SAS Institute Inc., Sparkgeo Consulting Inc, TIBCO Software Inc, Tom Tom, Zebra Technologies Corporation., CARTO, GapMaps, Hardcastle GIS, Locale.ai, Mapidea, Newgrove Limited, Orbica, and Placens. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
