USD 13.9 billion
Location Analytics Market Size, Share, Growth Analysis, By Component(Software, and Services), By Location Type(Indoor, and Outdoor), By Deployment Mode(On- Premises, and Cloud), By Application(Remote Monitoring, Sales & Marketing Optimization, Asset Management, and Risk Management), By Industry Vertical(BFSI, Retail & Consumer Goods, Healthcare, and Hospitality), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45D2076 |
Region:
Global |
Published Date: July, 2024
Pages:
165
|Tables:
151
|Figures:
78
Location Analytics Market Insights
Location Analytics Market size was valued at USD 18.68 Billion in 2022 and is poised to grow from USD 21.2 Billion in 2023 to USD 58.39 Billion by 2031, growing at a CAGR of 13.5% in the forecast period (2024-2031).
Location analytics are the integration of business and geographic data for location-based intelligence. In recent years, demands from such services and solutions have increased considerably from government, retail industries, and other businesses, which has fueled market growth. Advanced technologies expected to further increase location analysis use include cloud computing, big data, artificial intelligence (AI), and the Internet of Things (IoT). The significant adoption of GPS technology by the automobile market, portable phones, and other portable devices have given it a considerable facelift. In addition, a lot of retail establishments include location data in their marketing strategies. Walgreens, for instance, uses location data to notify users to open the app whenever they are in a particular area, which increases customer loyalty. Users can confirm further promotional offers by gaining access to their account information. Therefore, the product's adoption by the retail sector will facilitate the market's expansion. Furthermore, the availability of vast volumes of dispersed location-based data across all industries has created issues with data correlation and analysis using traditional BI tools. It is thought that businesses require geographical data and analysis to comprehend shifting business patterns and cross-border problems. This knowledge is leading to an expansion of the market.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Outdoor
Fastest Growth
Outdoor
Growth Rate
15.6% CAGR
Global Location Analytics Market ($ Bn)
Country Share for North America (%)
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Location Analytics Market Segmental Analysis
The Global Location Analytics Market is segmented into component, location type, deployment mode, application, industry vertical, and region. By component, the market is bifurcated into software and services. Depending on the location type, it is fragmented into indoor and outdoor. According to deployment mode, the market is categorized into on-premises and cloud. As per the application, it is classified into remote patient monitoring, sales & marketing optimization, asset management, and risk management. Based on industry vertical, the market is divided into BFSI, Retail & Consumer Goods, Healthcare, and Hospitality. Regionally, it is analyzed across North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa.
Location Analytics Market Analysis By Location
The outdoor segment experienced the highest percentage growth in 2023. Outdoor analytics solutions take into consideration all the online consumer behavior, retail experiences, location data visualization, and online customer behavior to help organizations find prospective clients based on these factors. Businesses that specialize in analytics and business intelligence tools have begun offering mapping and geographic-based data. Analytics and business intelligence tool providers are expanding their offerings to include mapping and geographic data. Businesses will benefit from this understanding of client behavior in areas such as asset management, business planning, geomarketing, and advertising.
The indoor category is expected to grow at the highest compound annual growth rate (CAGR) during the projection period. Indoor analytics solutions show data gathered from interior devices like smartphones and Wi-Fi networks, through which business decisions can be taken by organizations and government groups. Moreover, the industry of indoor location analytics provides other services to the firms, including asset tracking, real-time mapping, and inside location tracking.
Location Analytics Market Analysis By Industry Vertical
The retail segment has captured the greatest share of the market due to the increasing usage of GPS and other spatial analytical tools to enhance interior retail operations. As the GIS platform can analyze the spending patterns of customers from different places, retailers may create more precise sales approaches. Effective geographical data analysis can help retailers better understand the demand for their goods and services within a particular geographic area. In addition, several partnerships to bring new technology to the retail sector have increased demand for location analytics solutions. For instance, Google Cloud will be teaming up with Oriient, an indoor location services software provider, to offer one solution for proximity marketing and retail navigation on Google Cloud in April 2022. Oriient can be purchased through the Google Cloud Marketplace as part of a bundled package solution for Google Cloud.
Location-based solutions are being adopted by the healthcare industry at a rapid pace. Big data and location analysis, when combined with Internet of Things (IoT) solutions, enable healthcare organizations to track patient vitals and statistics, such as sleep patterns, heart rates, levels of exercise, and distance traveled. The solutions provide hospitals and healthcare organizations with a wide range of applications, such as performance management, territory management, healthcare factor analysis, and site planning for healthcare operations.
Global Location Analytics By Location
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Location Analytics Market Regional Insights
North America held the dominant share in the location analytics market and is likely to continue so during the forecast period as well. The increasing demand is driving the market expansion for position intelligence and geospatial analytics solutions among many industrial verticals, such as government, defense, retail, and others. For instance, in March 2020, the U.S. Government implemented analytics tools in collaboration with Google LLC, Meta Platforms, Inc. (Facebook), and other digital businesses and medical specialists. To curb the virus's spread, this has enabled organizations to monitor people's social distancing behavior and use location data that they have obtained from individuals.
During the projection period, Asia Pacific is expected to have the fastest CAGR. This is attributed to the exponential consumption of location intelligence solutions for public safety by governments in the region. For instance, Quadrant.io, one of the world's leading location intelligence platforms, in June 2020 announced the APDA-Asia Pacific Data Alliance-comprising over 100 consulting, geospatial, and data analytics companies. The program decreased the hazards associated with the virus's spread by providing mobile location data to eminent companies, governments, and academic institutions.
Global Companion Diagnostics Market Size By Geography
- Largest
- Fastest
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Location Analytics Market Dynamics
Location Analytics Market Driver
Increasing Use of Big Data and IoT
- The growth of big data and Internet of Things (IoT) technologies has had a significant impact on the location analytics market. Given the inflow of data from sources such as social media, mobile apps, and GPS devices, location-based insights can improve decision-making, accelerate processes, and allow better reach for customers. The integration of big data, IoT, and location analytics technologies is driving real-time analytics for actionable insights, thereby driving market growth.
Increasing Interest in Geographic Information
- Growth in the demand from many sectors for geospatial data drives the market demand for location analytics solutions for operational efficiency, such as retail, logistics, and transport, among others. Geospatial data helps retailers decide on appropriate shop locations and further keeps control of the inventories, while it helps in enhancing logistics businesses to better fleet management and route planning. As geographic data is increasingly used, Location Analytics too has begun to grow, thereby enabling any business to gain a competitive advantage because of improved operational insight.
Location Analytics Market Restraints
Privacy and Data Security Concerns
- Utilizing location data raises significant privacy and security issues. Businesses must manage complex legal frameworks to be compliant with regulations like the CCPA and GDPR. The need to protect sensitive user data may limit the amount of location data that companies can collect and use, which could impede the growth of the location analytics market. Concerns about data breaches and exploitation further complicate the adoption of location-based solutions.
High Implementation Costs
- Advanced location analytics solutions, which demand equipment, software, and expert personnel, have a high upfront cost. It will not be viable for small and medium-sized firms to apply location analytics and make use of it, as these costs might be beyond the reach of an SME. The cost being relatively high to implement and maintain, especially in regions where new technologies are being adopted rather slowly, this market may not be able to grow.
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Location Analytics Market Competitive Landscape
The location analytics market is extremely competitive due to the large number of suppliers offering analytics solutions to both domestic and international markets. It appears that the industry is rather fragmented because major vendors are using strategies such as mergers and acquisitions, strategic partnerships, and others to increase their market share and stay competitive. Companies in the field, such as Microsoft Corporation, IBM Corporation, Google LLC (Alphabet Inc.), Esri, HERE Technologies, Zebra Technologies Corporation, and others, are introducing cutting-edge solutions that are paired with a variety of strategic alliances and cutting-edge technologies.
Location Analytics Market Top Players Company Profiles
- Oracle
- IBM
- Microsoft
- SAS
- Precisely
- Hexagon
- HERE
- Galigeo
- IndoorAtlas
- TIBCO
- Locale.ai
- Nrby
- GapMaps
- Ascent Cloud
Location Analytics Market Recent Development
- January 2024: Cognite and ANYbotics collaborated to provide integrated robotic inspection solutions. The solutions automate real-time data collection to improve digital twins and simplify location, analysis, and reporting.
- November 2023: Enterprise location intelligence supplier Gravy Analytics and location analytics and data provider Unacast reached a formal merger agreement to create one of the largest and most comprehensive location analytics platforms on the market. The location intelligence growth through this combination would help customers across retail, telecommunication, real estate, and financial businesses.
- March 2023: BetterMile, a supplier of intelligent spatial software for package delivery, announced that it strengthened its partnership with HERE Technologies to enhance its offering. Drivers using BetterMile from all around the world may now receive real-time location data on their devices due to HERE's custom fleet delivery geocoding.
Location Analytics Key Market Trends
- Artificial Intelligence (AI) and Machine Learning (ML) Driven Analytics Solutions: Over the past few years, the domains of artificial intelligence (AI) and machine learning (ML) have expanded in tandem. AI and ML-enabled location data are created from data collected location signatures and pattern recognition. Further, technologies are used in developing practical simulators and HD maps for data visualization. Major companies are investing judiciously in AI and machine learning to gain a competitive advantage.
- Proliferation of Drone and Satellite Imagery Technologies: Since drone and satellite imagery technologies have been used so extensively recently, conventional computing techniques can now be used to process any type of data. By completing tasks such as product identification and image recognition, AI and machine learning technologies save a lot of time and effort. Location analytics service providers will provide customers with cutting-edge solutions and execute them even more effectively as AI and machine learning advance. It is anticipated that the market will grow rapidly as AI and ML advance.
Location Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest Analysis, the global location analytics market for geographic predictive analytics is growing due to rise in the focus of businesses on components of the physical environment, such as infrastructure, sociocultural characteristics, and geographical features. Geographic coordinates and distinct IDs are used in geospatial data analytics to facilitate effective analysis. Establishing data visualization and spatial models results in accurate trend predictions and modeling. Production deadlines, maintenance needs forecast, and infrastructure assessment are driving the market demand for location predictive analytics.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 18.68 Billion |
| Market size value in 2031 | USD 58.39 Billion |
| Growth Rate | 13.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered | |
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Location Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Location Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Location Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Location Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Location Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Location Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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