Location Analytics Market by Offering (Solutions (By Type & By Deployment), and Services), Location Type (Indoor Location and Outdoor Location), Application, Vertical, and Region (North America, Europe, APAC, MEA, Latin America) - Global Forecast to 2028

Location Analytics Market by Offering (Solutions (By Type & By Deployment), and Services), Location Type (Indoor Location and Outdoor Location), Application, Vertical, and Region (North America, Europe, APAC, MEA, Latin America) - Global Forecast to 2028

The market for location analytics is estimated to grow from USD 20.6 billion in 2023 to USD 38.5 billion by 2028, at a CAGR of 13.4% during the forecast period. The top driving factor of location analytics is data-driven decision-making. location analytics empowers organizations to make informed choices based on geospatial data, enabling them to optimize operations, improve customer experiences, and gain a competitive edge. By analyzing location data, businesses can understand customer behavior, streamline logistics, enhance resource allocation, and respond effectively to various challenges, such as disaster management or urban planning. The ability to harness the power of location data to make better decisions is a fundamental driver behind the growing adoption of location analytics across industries.

The BFSI vertical is projected to be the largest market during the forecast period.

In the BFSI sector, location analytics is a strategic tool driving competitive advantage. It enhances risk assessment, enabling banks and insurers to evaluate geographical factors impacting lending and insurance. Precise customer insights gleaned from location data allow for personalized marketing, improving engagement. Smart branch and ATM placement optimization, using foot traffic and demographic analysis, boost operational efficiency. Fraud detection benefits from location-based transaction monitoring. Credit scoring models are refined with location history data. Market expansion, asset management, and disaster recovery planning all benefit from location analytics. Compliance, real estate investment, and supply chain finance strategies are also enhanced, making it a crucial asset in BFSI decision-making.

Among application, the emergency response management segment is registered to grow at the highest CAGR during the forecast period.

Location analytics is a valuable tool for emergency response management for businesses. It enhances situational awareness by integrating real-time data from various sources, enabling faster response times. Businesses can optimize resource allocation with precise location data, ensuring quicker dispatch of personnel and equipment. Evacuation planning becomes more efficient as location analytics identifies safe routes and estimated evacuation times. Predictive analytics helps anticipate and prepare for emergencies. Traffic management and resource tracking ensure seamless operations during crises. Post-incident analysis aids in response improvement, and community engagement through mobile apps enhances communication. Cross-agency collaboration is streamlined, promoting coordinated and effective emergency response, ultimately safeguarding businesses and communities.

Among offering, the solutions segment is anticipated to account for the largest market size during the forecast period.

The market for location analytics software is experiencing significant growth driven by several key factors. Solution providers across industries are integrating location analytics to enhance their offerings. Geographic Information Systems (GIS) providers such as Esri and IoT companies incorporate location analysis into their solutions for urban planning, asset tracking, and more. Business Intelligence (BI) platforms such as Tableau leverage location data for market insights, and fleet management systems optimize routes with real-time location monitoring. Retail analytics companies use location analytics to enhance the in-store shopping experience, while emergency response and public safety solutions improve response times with location data. Supply chain and logistics providers optimize operations, real estate tech companies offer property insights, and healthcare systems use location analytics for patient tracking and resource allocation. These applications enhance decision-making, efficiency, and customer experiences in various industries.

North America to account for the largest market size during the forecast period.

North America is estimated to account for the largest share of the location analytics market. The global market for location analytics is dominated by North America. The location analytics market is experiencing significant growth globally, with North America expected to dominate the market share. The increasing demand for position intelligence and geospatial analytics solutions among industry verticals such as government, defense, and retail is driving this growth. Companies are using location-based services to gain valuable insights into customer behavior, market trends, and operational efficiency. The development of advanced location analytics solutions by key players in the industry is also contributing to market growth. With the adoption of wireless devices and location-based sensors, the demand for location analytics solutions is increasing globally. In North America, the U.S. government collaborated with technology players to deploy analytics tools in response to the COVID-19 pandemic. As businesses gain a competitive edge, sales and marketing optimization strategies with location intelligence solutions would play a significant role.

Breakdown of primaries

In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the location analytics market.

By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%

By Designation: C-Level Executives: 35%, Directors: 25%, and Others: 40%

By Region: North America: 40%, Europe: 20%, APAC: 30%, MEA: 5%, Latin America: 5%

Major vendors offering location analytics solutions and services across the globe are IBM (US), Google (US), Oracle (US), Microsoft (US), Esri (US), SAS (US), Precisely (US), SAP (Germany), Cisco (US), TomTom (Netherlands), Hexagon (Sweden), Zebra Technologies (US), Alteryx (US), HERE (US), Purple (UK), Galigeo (France), GeoMoby (Australia), Quuppa (Finland), CleverMaps (Czech Republic), IndoorAtlas (Finland), Lepton Software (India), CARTO (US), TIBCO (US), Sparkgeo (Canada), Ascent Cloud (US), Foursquare (US), MapLarge (US), SedimentIQ (US), Ariadne Maps (Germany), Locale.ai (India), Geoblink (Spain), Nrby (US), Mapidea (Portugal), GapMaps (Australia), and LocationsCloud (US).

Research Coverage

The market study covers location analytics across segments. It aims at estimating the market size and the growth potential across different segments, such as offering, application, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market for location analytics and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Growth in adoption of spatial data and analytical tools across several verticals, Rise in use of location-based applications among consumers, Greater need to gain competitive advantage across verticals), restraints (Legal concerns associated with geo privacy and confidential data, High initial cost of deployment), opportunities (Increase in adoption in small and medium-sized enterprises, Growing in penetration of advanced technologies), and challenges (Lack of uniform regulatory norms, Lack of skilled workforce) influencing the growth of the location analytics market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the location analytics market.

Market Development: Comprehensive information about lucrative markets – the report analyses the location analytics market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in location analytics market strategies; the report also helps stakeholders understand the pulse of the location analytics market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players such as IBM (US), Google (US), Oracle (US), Microsoft (US), Esri (US), SAS (US), Precisely (US), SAP (Germany), Cisco (US), TomTom (Netherlands), Hexagon (Sweden), Zebra Technologies (US), among others in the location analytics market.