DUBLIN--(BUSINESS WIRE)--The "Global Location Analytics Market, By Solution, By Component, By Location Type, By Application, By Vertical, Estimation & Forecast, 2017 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global location analytics market in 2019 was valued at $10,813.6 Million and is projected to reach $29,878.5 Million by the year 2026. The market is anticipated to register a CAGR of 15.6% over the projected period.
Location analytics is used for adding a layer of geographical data to a business's data assets for extracting more valuable insights. Increasing use of spatial data & analytical tools coupled with the rising need for predictive analytics for business are expected to boost the market growth. Furthermore, increasing use of location-based applications among consumers, rise in the adoption of advanced technologies, and growing adoption of social media for customer engagement is also expected to fuel the market growth.
Despite the driving factors, legal concerns and data privacy issues are expected to hinder the market growth during the forecast period. Lack of uniform regulatory norms and high initial cost of deployment are also estimated to restrain the market growth.
Growth Influencers:
Increasing use of spatial data and analytical tools
Spatial data consists of the relative geographical information regarding the Earth and its features. Geometric data used in floor plans is an example of spatial data. Analytical tools collect raw data and convert them into useful insights, which businesses can use for effective decision making. Examples of analytical tools include Tableau, Power BI, Microsoft Excel, R, and Python, among others. Use of spatial data and analytical tools is increasing for creating insightful geographical analysis quickly without having to learn specialized geographic information system (GIS) tools. Hence, increasing use of spatial data and analytical tools owing to their various benefits is expected to fuel the market growth.
Rising use of location-based applications among consumers
Location-based applications deliver information and services, which are most relevant to the user at a particular location. They provide mobile notifications, information filter, personalized suggestions, and route navigation, which increase their adoption. They are also used as store locators for identifying nearby stores & on-demand locations; as travel information for delivering real-time information such as traffic updates & weather forecasts; for proximity-based marketing by pushing ads to specific individuals within a particular geographic location; and for fraud prevention by enhancing security by matching the customer's location through a mobile app to a credit/debit card transaction. Hence, rising use of location-based applications among consumers owing to their various features and advantages are likely to boost the market growth.
The global Location analytics market report answers questions such as:
- What is the market size and forecast of the Global Location analytics Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Location analytics Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Location analytics Market?
- What is the competitive strategic window for opportunities in the Global Location analytics Market?
- What are the technology trends and regulatory frameworks in the Global Location analytics Market?
- What is the market share of the leading players in the Global Location analytics Market?
- What modes and strategic moves are considered favorable for entering the Global Location analytics Market?
Segments Overview:
The global location analytics market is segmented the solution, component, location type, application, and vertical.
By Solution,
- Geocoding & Reverse Geocoding
- Data Integration and ETL
- Reporting and Visualization
- Thematic Mapping and Spatial Analysis
- Others
By Component,
- Solution
- Services
By Location Type,
- Indoor Location
- Outdoor Location
By Application,
- Risk Management
- Emergency Response Management
- Customer Experience Management
- Remote Monitoring
- Supply Chain Planning and Optimization
- Sales and Marketing Optimization
- Predictive Assets Management
- Inventory Management
- Others
By Vertical
- Retail
- Manufacturing
- Government & Defense
- Media & Entertainment
- Transportation
- Energy & Utilities
- Others
Companies Mentioned
- SAS Institute
- Esri
- Oracle
- Cisco Systems, Inc
- Pitney Bowes
- International Business Machines (IBM) Corporation
- Microsoft
- Galigeo
- Purple
- GeoMoby
- Alteryx, Inc.
- CleverAnalytics
- IndoorAtlas
- Lepton Software
- Quuppa
For more information about this report visit https://www.researchandmarkets.com/r/10xs1x
