A recent report published by Infinium Global Research on location analytics market provides in-depth analysis of segments and sub-segments in the global as well as regional location analytics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional location analytics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global location analytics market. According to the report, the global location analytics market is projected to grow at a CAGR of 16.3% over the forecast period of 2020-2026.

Market Insight

Location analytics helps to gain important insight from the location or geographic part of the business data. The organizations can enhance their business insights by adding a geographic location to the business data and mapping it. Maps and spatial analytics offer an entirely new dimension, which is normally not achieved with tables and charts. It can also be applied to scientific and disaster prevention efforts. This can help visualize the areas that are affected by calamities including floods and earthquakes in the maps. Location analytics provides additional insights into the business data by adding a layer of geolocation information. Location analytics is been extensively used to derive transactional data including sales, logistics, and supply chains to enable a new context that helps realize specific figures. With the help of location analytics, organizations can leverage the geographic data to create new insights and provide several points of comparison. It is very important to understand the geographical aspect of a business for organizations that have multiple locations or operations across the globe.

The increasing use of spatial data and analytical tools is majorly driving the growth of the location analytics market. Spatial analysis is used by people around the world to derive new information and make informed decisions. A wide range of organizations such as local and state governments, national agencies, businesses of all kinds, utility companies, colleges and universities, and NGOs use spatial analysis for their operations. Moreover, the growing use of location-based applications among consumers is augmenting the adoption of location analytics. Some of the most widely used mobile applications used for geosocial networking, navigation, traveling, searching for retail and real estate, and mobile marketing and advertising use location data to improve the mobile experience. Additionally, the rising need for predictive analytics for business is further propelling the demand for location analytics. Predictive analytics is mainly used to determine customer responses or purchases along with promoting cross-sell opportunities. Several businesses use predictive models to forecast inventory and manage resources. However, legal concerns and data privacy issues pose a major threat to the growth of the location analytics market. Nonetheless, advancements in the Global Navigation Satellite System (GNSS) is anticipated to offer favorable opportunities to the market.

In terms of region, North America holds the largest market share in the location analytics market. Sale in the U.S. is the major driver for the North American location analytics market. The global leaders in the Location Analytics focus on the U.S. as an important market owing to the significant market potential offered by the U.S. The US government and the defense, telecommunication, and IT industries in the U.S. are expected to majorly contribute to market growth. Moreover, Consistent growth in the retail market, growing adoption of analytical business intelligence and geographic information systems technology and also, the growing focus on the needs of customers and their satisfaction are some of the factors that have fueled the growth of the market. The major location analytics suppliers such as Oracle Corporation, Microsoft Corporation, TIBCO Software Inc, IBM, CISCO, Google Inc., and Trimble, Inc. are located in the North American region. This, in turn, is augmenting the growth of the market in North America. On the other hand, Asia-Pacific is estimated to grow at the fastest rate in the global location analytics market. The location analytics market in Asia-Pacific is largely driven by technological advancements and internet penetration rates in developing economies, such as China and India.

Segment Covered

The report on the global location analytics market covers segments such as component, location type, and application. On the basis of component, the sub-markets include solutions, and services. On the basis of location type, the sub-markets include indoor, and outdoor. On the basis of application, the sub-markets include remote monitoring, and risk management.

Companies Profiled:

The report provides profiles of the companies in the market such as Oracle Corporation, Microsoft Corporation, TIBCO Software Inc., Trimble, Inc., Hexagon AB, Alphabet Inc., IBM Corporation, SAS Institute Inc., Esri, and Precisely.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the location analytics market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.