Press Release: April 11, 2020
Location Analytics is a process of deriving insight from locations and geographical data. Location analytics uses to visualize information or data, especially data generated by the business that often contain geographic component. Location analytics can be done for real-time and historical-geographical data. Real-time location analytics can be applied to track live locations such as courier services and postal services, which need to keep track of package delivery in real-time. Location analytics is common uses for military purposes. Whereas historical, geographical data, commonly uses in the retail sector to analyze customer habits and increases sales and customer retention through advertisement and product distribution ways. Location analytics solutions are solving various location-related problems across multiple industries like retail, defense, manufacturing, transportation, etc. to improve efficiency and effectiveness of business.
The major factors driving the market growth are increases the emergence of Internet and Things (IoT) and the growing large amounts of spatial data by several data sources like smartphones, tablets, laptops, GPS devices, cameras, sensors, and social media. In addition, growing requirement of predictive analysis and increase use of location-based analytics among customer to increases business are also propelling the market growth. Furthermore, increases use of location analytics by small and medium-sized enterprises. The low cost of location analytics solutions and growing demand for a location analytics solution to enrich risk analysis are also fuel the market growth during the forecast period. However, data privacy, data connectivity, and integration are hindering the market growth.
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North America is expected to hold the largest market size in the location analytics market and expected to at significant growth rate during the forecast period owing to rising technological development and support such as IoT and Machine Learning (ML) and growing adoption of automation. In addition, due to the massive amounts of data is generated through computing devices, GPS etc, companies are looking forwards to utilizing these data through the analytical solution. Moreover, growing demand for real-time data analytics solutions across multiple industries such as retail, government and defense, BFSI, transportation etc to enhance business performance and efficiency is also driving the market growth of location analytics in the region.
Various notable players in the market include SAS Institute, Esri, Oracle Corporation, Microsoft Corporation, Cisco Systems, Inc., Pitney Bowes, Inc., Galigeo, IBM Corporation, Alteryx, Inc., GeoMoby and among Others. Major players are focussing on product launch, acquisition, collaboration to expand their global reach and become a market competitive.
The Global Location Analytics Market has been segmented based on component, location, application, verticals and key geographies. Based on the component, the global location analytics market has been segmented into solution and services. On the basis of location, the market is segmented into indoor and outdoor. Based on application, the market has been segmented into Risk Management, Emergency Response Management, Customer Experience Management, Remote Monitoring and Others. Based on verticals, the market is segmented into Retail, Manufacturing, Transportation and Logistics, Energy and Utilities, Government and Defense and Others.
The research report “Global Location Analytics Market” provides an in-depth analysis of the global location analytics market based on technology, application and major geographies for the forecast period from 2019 to 2026. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the global location analytics market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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Key questions answered in this research report:
1- At what pace is the global location analytics market growing? What will be a growth trend in the future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global location analytics market?
4- What are the various application areas and how they are poised to grow?
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