What is the global market size of Location Analytics Market?

Global Location Analytics Market size was valued at USD 13.9 billion in 2021 and is poised to grow from USD 16.09 billion in 2022 to USD 51.25 billion by 2030, growing at a CAGR of 15.6% in the forecast period (2023-2030).

Who are the key vendors in the Global Location Analytics Market?

The Location Analytics Market is highly competitive due to the numerous vendors offering analytics solutions to both domestic and international markets. The market appears to be moderately fragmented, with major vendors pursuing strategies such as mergers and acquisitions, strategic partnerships, and others to expand their reach and remain competitive in the market. 'Microsoft Corporation', 'IBM Corporation', 'Cisco Systems, Inc.', 'Oracle Corporation', 'SAP SE', 'SAS Institute, Inc.', 'Pitney Bowes Inc.', 'Galigeo SAS', 'Alteryx, Inc.', 'Trimble Inc.', 'ESRI Inc.', 'TIBCO Software Inc.', 'Hexagon AB', 'Caliper Corporation', 'Precisely, Inc.', 'TomTom International BV', 'PlaceIQ, Inc.', 'MapLarge, Inc.', 'Foursquare Labs, Inc.', 'CartoDB Inc'

What is the key driver of Global Location Analytics Market?

Rising use of spatial data and analytical tools across multiple verticals

What is the key market trend for Global Location Analytics Market?

AI and machine learning (ML) technologies have grown in popularity in recent years. AI and ML-enabled location data is used to generate pattern recognition and position signatures from the data it receives. Furthermore, the technologies are employed to create high-definition (HD) maps and practical simulators to view data. To gain a competitive advantage, major corporations are proactively investing in AI and machine intelligence. For instance, in October 2021, Google LLC improved its Google maps SDKs for Android to improve user experience, such as supporting drivers in making deliveries and assisting stores in visually checking an order's delivery address.

Which region accounted for the largest share in Global Location Analytics Market?

North America is predicted to dominate the growth of the global location analytics market share. The rising demand for position intelligence and geospatial analytics solutions in industries such as government, defense, retail, and others is fueling the expansion. For example, the United States Government cooperated with Google LLC, Meta Platforms, Inc. (Facebook), and other technology providers and health professionals to deploy analytics tools in March 2020. This has aided organizations in combating viral spread by exploiting location data acquired from individuals, including tracking people's social distancing behavior.

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 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
Google
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 Market Report Snapshots

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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).

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.

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.

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.

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Location Analytics Market Competitive Landscape

Location Analytics Market Report Snapshots

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What is the global market size of Location Analytics Market?

Who are the key vendors in the Location Analytics Market?

What is the key driver of Location Analytics Market?

What is the key market trend for Location Analytics Market?

Which region accounted for the largest share in Location Analytics Market?

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