Location Analytics Market Size, Industry Analysis Report, Regional Outlook, Industrial analysis report, Growth Potential, 2020 - 2026
Report ID: GMI4663
Location Analytics Market size is poised to witness substantial CAGR during the forecast period as the technology enables cost reduction, high accessibility to customers, and real-time location-based insights on business data. The location or geographic components of business data helps enterprises in numerous ways, which is also supporting market growth, as it not only gives industries an insight about what kind of data is generated but also gives information about where that data is being generated. These organizations can reduce costs and keep their accessibility high by using location analysis. Private and public sector organizations can use location-allocation analysis to find the optimal site for a new facility that will service the demand points in the most efficient way possible.
Also, modern businesses can leverage real-time insights due to availability of real-time data due to technological advancements for enhancing service delivery and customer experience. For instance, UBER Technologies Inc., provides real-time information about the availability of cabs to users and how much time it will take to reach at the pickup point, optimizing the profit for the company because all the customers will be in loop, leading to higher customer retention.
On the basis of components, the location analytics market has been segmented into solutions and services. Based on solutions, the global market is categorized into reporting & visualization, thematic mapping & spatial analysis, geo-coding & reverse decoding, and data integration & ETL. These tools enable saving hours of time spent on analyzing large datasets. Users can get an instant view of visual-based analytics of locations and demographic data that help them draw insights for various business decisions from the tools. Based on services, the global market can be divided into system integration, operational services (consulting), and support and maintenance services.
Based on applications, the market is segmented into workforce management, asset management, facility management, risk Management, remote monitoring, sales & marketing optimization, and customer management. Location-based marketing platforms such as HYP3R, Reveal Mobile, bluedot, etc., allow businesses to target customers when they’re in the proximity of the store.
On the basis of end use, the location analytics market is segmented into energy & utilities, government & defense, retail & consumer goods, transportation & logistics, media & entertainment, Banking, Financial Services and Insurance (BFSI); healthcare & life sciences, manufacturing, telecommunications & IT, travel & hospitality, and real estate. Location analytics can provide insights to an insurance company to identify actual affected people in a particular geographical area due to a natural calamity, for instance, an insurance company can quickly pinpoint the exact geographic coordinates of the claim in real-time, overlay the storm’s path over that location and determine whether the claim location is actually affected by the storm, or is it outside the boundaries.
Based on deployment model, the market is segmented into on-premise model and cloud model. Companies using public or private cloud systems can face some issues with achieving full compliance. Cloud model has characteristics such as flexibility to access and efficiency in process or infrastructure. To overcome the challenges of handling large volumes of private data in on-premise infrastructure, location analytics models are deployed on cloud model.
North America dominated the overall location analytics market in 2019, as most of the top players operate from this region. In addition, North America has high availability of location-based IT infrastructure due to its well-developed regional infrastructure, which, in turn, is expected to boost market growth in this region. In addition, Asia Pacific is expected to witness the highest growth rate, in terms of CAGR, during the forecast period. The factors that drive market growth include rising IT spending capability in Asia Pacific, rising demand for location-based services from the transportation & logistics sector in this region, and growing availability of high bandwidth network connectivity, enabling efficient real-time data collection and transmission.
The major companies are investing in location analytics to gain a competitive advantage in the rapidly growing market. In 2019, Salesforce, the world’s leading CRM software company, made six acquisitions, and two of them were location and data analytics companies, MapAnything and Tableau. The total investment for the two companies runs into billions of dollars. Also, In June 2019, Alphabet Inc. announced an investment of USD 2.6 billion in cash for data analytics tool maker, Looker. Another BI company, Qlik, also made some significant acquisitions including Attunity (data streaming) and Crunch Data (conversational analytics) and partnered with DataRobot (automated machine-learning modeling).
Some of the key players in the global location analytics market are Alcatel-Lucent Enterprise, Apple Inc., AT&T Inc., Alteryx Inc., Cisco Systems Inc., Google Inc., Galigeo, GeoMoby, HERE, IBM Corp., Microsoft Corp., Oracle Corp., Qualcomm Inc., SAS Institute Inc., and Waze Inc.
Market by Component, 2015-2026 (USD Million)
- System integration
- Operational services
- Support & Maintenance services
Market by Enterprise Size, 2015-2026 (USD Million)
- Large Enterprises
- Small and Medium Enterprises (SME)
Market by Deployment Model, 2015-2026 (USD Million)
Market by Application Model, 2015-2026 (USD Million)
- Workforce Management
- Asset Management
- Facility Management
- Risk Management
- Remote Monitoring
- Sales & Marketing Optimization
- Customer Management
Market by End User, 2015-2026 (USD Million)
- IT & Telecom
- Healthcare and Life Sciences
- Energy and utilities
- Government and defense
- Transportation and logistics
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Southeast Asia
- Latin America
- South Africa
- Saudi Arabia
- Alcatel-Lucent Enterprise
- Apple Inc.
- AT&T Inc.
- Alteryx Inc.
- Cisco Systems Inc.
- Google Inc.
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Qualcomm Inc.
- SAS Institute Inc.
- Waze Inc.
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