Location Analytics Market:
Location Analytics denotes the business intelligence (BI) process implemented to improve insights from geographic or location-based business data. It helps companies and organizations across industries to amalgamate 3-D data with conventional BI data. This spatial data is gathered using various data sources such as cameras, sensors mobile devices, global positioning systems (GPS), and social media channels. Location data consists of a wide range of data relating to longitudes, latitudes, altitudes, existing points, the direction of travel and a record of the users last location. Location analytics use the collected data with Business intelligence tools to assess, analyze and process the data collected into actionable information and enable effective business outcomes. Moreover, the increasing use of Spatial Data and analytical tools drives the market towards growth. Moreover, the rising adoption of the technology in the multiple end-use industries specially the retail sector drives the market. According to American Society for Quality’s report of April 2019, 63% of manufacturers consider IoT products will increase profitability over the next five years and will invest USD 267 billion in IoT by 2020. This investment demonstrates the increase in use of IoT technology in the country. As the spatial data generated helps retailers uncover the relationship between stores, products, demands, preferences, and customer types across different parameters and metrics that affect the overall sales performance. However, legal concerns and data privacy issues impedes the growth of the market over the forecast period of 2020-2026. Although, the rise in adoption of advanced technologies such as IoT, AI, and ML in multiple verticals leads to the adoption of analytics solutions as it aids in enhancing the efficiency of the enterprises.
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The regional analysis of global Location Analytics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to large contribution from the government and defense sector along with the IT and Telecom. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising disposable income and rising industrialization would create lucrative growth prospects for the Location Analytics market across Asia-Pacific region.
Major market player included in this report are:
Tibco Software Inc.
ESRI (Environmental Systems Research Institute)
Cisco Systems Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
IT & Telecommunications
Energy & Utilities
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Location Analytics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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