Location Analytics Market

Analysts at GMI Research estimates that the Location Analytics Market size reached USD 17.2 billion in 2022, and forecast to touch USD 51.9 billion in 2030, growing at a significant higher CAGR of 14.8% from 2023-2030 attributed to emerging need for geographic analytic predictive analytics and growing demand for professional services.

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Major Location Analytics Market Drivers

Global location analytics market includes increasing penetration of smartphone, growing use of Global Positioning System (GPS)-enabled devices, rising use of geospatial data and analytical tools and surge in investments in Internet of Things (IoT) technology and network services by businesses. Moreover, to gain competitive edge other over major companies, various organizations across different verticals are adopting location analytics solutions to increase efficiency and productivity and optimize safety and user experience. Location analytics solutions find its application in various projects such as climate change modelling and forecasting human population. Market dynamics have changed post-covid, organizations are increasingly adopting location analytics services to analyze and share data in the form of location of customers.

Small and Medium enterprises (SMEs) across verticals such as BSFI, Healthcare and Retail are increasingly adopting location analytics solutions as these solutions are cost-effective, increases agility and scalability, offers geospatial data which helps in making informed decisions and improves overall performance. The adoption of IoT and connected devices are increasingly rapidly, as per our research, the number of IoT connected devices is expected to rise to 43 billion by the end of 2023, which will create huge amounts of location-based data. As the number of IoT and connected devices are rising, SMEs are expected to increase the adoption of location analytics solutions to derive meaningful insights from data and increase their business operation capabilities, which will create lucrative opportunities for location analytics market in coming few years. While large enterprises are increasingly adopting location analytics solutions as it enables them to provide better navigation and tracking to people and objects, which are located indoor and outdoor.

Integrating location analytics with Enterprise Resource Planning (ERP) and Customer Relationships Management (CRM) becomes quite challenging for enterprises as data gathered from geospatial data is unstructured and needs to be processed efficiently for making it compatible with existing database. However, major organizations worldwide don’t have adequate skills and knowledge amongst workforce, which restricts them in adopting location analytics based on advanced technologies such as Artificial Intelligence (AI) and Blockchain. To overcome these challenges, enterprises need to invest heavily in training and development of their workforce, so they can leverage benefits of location analytics solutions.

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Based on Component, Solutions segment is projected to hold a major share in the global location analytics market owing to growing demand for customized geospatial reports for decision making.

Location analytics tools and platforms captures data by using technologies such as location sensors and mobile devices to find trends in relationship between people and places. In addition, geospatial reports help businesses for making forecast, improving marketing plans and planning budgets. While developments in custom applications, has increased the demand for integration and implementation services, which is driving the growth of services segment.

According to location analytics market report, Outdoor segment is expected to hold the largest market share due to developments in apps which uses geospatial and positioning systems.

Outdoor location analytics solutions help businesses to reduce their cost. Airlines can leverage these solutions to determine location of their planes and inform passengers about arriving time in case of delays. Furthermore, companies are increasingly adopting location based marketing by companies to target customers at personal level and offline or online messaging based on their location, which is accelerating the segment’s growth.

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Based on Region, North American region is estimated to dominate the market

North American location analytics market is propelled by technological advancements in the field of Machine Learning (ML) and Internet of Things (IoT), increasing focus of companies on analyzing risks to expand their business operations and huge amounts of data generated by cloud computing devices. Additionally, location analytics solutions are gaining popularity in Europe due to its increasing adoption in transportation and logistics sector to provide sustainable services. Logistics vendors across are planning to introduce new business models, which will create growth opportunities for the market.

Top Market Players

Various notable players in the location analytics market include SAS Institute, Esri, Oracle Corporation, Microsoft Corporation, Cisco Systems, Inc., Pitney Bowes, Inc., Galigeo, IBM Corporation, Alteryx, Inc., and GeoMoby among Others. Major players are focusing on product launch, acquisition, collaboration to expand their global reach and become a market competitive.

Key Developments:

• • In July 2022, IBM announced that it has acquired Databand.ai, a developer of data observability software based out of Israel. This acquisition will mark company’s 5^th acquisition in 2022. Acquiring ai helped IBM to strengthen its portfolio across data, Artificial Intelligence and Automation.
  • In July SAP, a leading developer of enterprise software based out of Germany, completes acquisition of Askdata. This acquisition enabled SAP to provide products to its clients which can help them in making decisions by leveraging AI driven natural language searches.
  • In April 2022, Google entered into a partnership with Orient to for helping retailers to improve their in-store experience. Through this partnership, both company plans to develop solutions which can provide retailers easy access to features such as product-locator, and in-store foot traffic analytics.
  • July 2021, Wireless announced that it has acquired Things Mobile, a major IoT connectivity provider. This acquisition helped the company to expand its presence in Europe.
  • In May 2021, Esri, a leading location intelligence company partnered with Wejo, to jointly develop solution, by integration Esri GIS technology with actual road data provided by Wejo.

Segments Covered in the Report:

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.

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Market Segmentation

Global Location Analytics Market by Component

• • Solution
  • Services

Global Location Analytics Market by Location

• • Indoor
  • Outdoor

Global Location Analytics Market by Application

• • Risk Management
  • Emergency Response Management
  • Customer Experience Management
  • Remote Monitoring
  • Others

Global Location Analytics Market by Verticals

• • Retail
  • Manufacturing
  • Transportation and Logistics
  • Healthcare
  • BSFI
  • Tourism and hospitality
  • Energy and Utilities
  • Government and Defense
  • Others

Global Location Analytics Market by Region

• • North America Location Analytics Market (Option 1: As a part of the free 25% customization)

    • By Component
    • By Location
    • By Application
    • By Verticals
    • US
    • Canada
    • Mexico

  • Europe Location Analytics Market (Option 2: As a part of the free 25% customization)

    • By Component
    • By Location
    • By Application
    • By Verticals
    • UK
    • Germany
    • Spain
    • Rest of Europe

  • Asia-Pacific (Option 3: As a part of the free 25% customization)

    • By Component
    • By Location
    • By Application
    • By Verticals
    • China
    • Australia
    • India
    • Rest APAC

  • ROW Option 4: As a part of the free 25% customization)

    • By Component
    • By Location
    • By Application
    • By Verticals
    • Brazil
    • South Africa
    • GCC countries

  • Rest of world (remaining countries of LAMEA region)

Leading Market Players

• • SAS Institute
  • Esri
  • Oracle Corporation
  • Microsoft Corporation
  • Cisco Systems, Inc.
  • Pitney Bowes, Inc.
  • Galigeo
  • IBM Corporation
  • Alteryx, Inc.
  • GeoMoby