Global Location Analytics Market Report and Forecast 2023-2028

Global Location Analytics Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global location analytics market reached a value of USD 13.7 billion in 2022. Aided by the surge in the need for geospatial data, coupled with the rise of real-time analytics in various sectors, the market is projected to further grow at a CAGR of 14.80% between 2023 and 2028 to reach a value of USD 31 billion by 2028.

Location analytics merges geographical data with business data, allowing organisations to garner novel insights from location-based information. This form of analytics is increasingly integral in sectors such as retail, logistics, urban planning, and disaster management. With tools that can pinpoint and analyse the significance of a particular location, businesses are better positioned to make informed decisions, optimise operations, and understand market dynamics.

The omnipresence of mobile devices, the Internet of Things (IoT), and wearable technology has created a surge in location-based data. This, in tandem with growing consumer expectations for personalised and location-based services, is fuelling the location analytics market expansion. Retailers, for instance, leverage location analytics to strategise store locations, plan marketing campaigns, and offer on-the-spot promotions to consumers.

Furthermore, with the rise of smart cities and the need for efficient urban planning, location analytics plays a pivotal role. Municipal bodies and urban planners employ this data to enhance public transportation routes, manage traffic congestion, and develop infrastructure based on population density and movement patterns.

Additionally, industries such as logistics, and supply chain management, among others, are generating a significant location analytics market demand. Businesses can track shipments, streamline delivery routes, predict potential delays, and subsequently improve customer satisfaction. Additionally, in the realm of disaster management, location analytics aids in predicting areas of high risk, streamlining evacuation routes, and optimising the distribution of emergency resources.

The integration of artificial intelligence (AI) and machine learning (ML) in location analytics platforms heralds another dimension of location analytics market growth. These technologies enable predictive analytics based on location data, allowing businesses to forecast trends, consumer behaviour, and potential challenges. As AI and ML become more entrenched in data analytics, their intersection with location data is set to redefine the contours of geospatial analysis.

Nevertheless, with advancements in cloud computing, data storage solutions, and more sophisticated analytics platforms, these challenges are increasingly surmountable. Furthermore, as businesses globally recognise the competitive edge offered by location-based insights, investments in this sector are set to soar.

Market Segmentation

The market can be divided based on component, deployment type, location, services, application, and region.

Market Breakup by Component

Solution

Geocoding and Reverse Geocoding

Data Integration and ETL

Reporting and Visualisation

Thematic Mapping and Spatial Analysis

Others

Services

Consulting

Integration and Deployment

Support and Maintenance

Market Breakup by Deployment Type

On-Premise

On-Demand

Market Breakup by Location

Indoor

Outdoor

Market Breakup by Services

Risk Management

Emergency Response Management

Customer Experience Management

Remote Monitoring

Supply Chain Planning and Optimisation

Sales and Marketing Optimisation

Others

Market Breakup by Application

Retail

Banking, Financial Services and Insurance

Government and Defence

Media and Entertainment

Transportation and Logistics

Energy and Utilities

Others

Market Breakup by Region

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global location analytics market. Some of the major players explored in the report by Expert Market Research are as follows:

SAS Institute Inc.

Oracle Corporation

Microsoft Corporation

IBM Corporation

Cisco Systems Inc.

Environmental Systems Research Institute Inc.

Pitney Bowes Inc.

Galigeo SAS

Alteryx, Inc.

Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.