CHICAGO, Aug. 31, 2023 /PRNewswire/ -- IoT integration, improvements in 5G, the use of AI, and the uptake of AR/VR will all be significant trends in the location analytics industry in the future. It will encompass indoor settings, place a focus on data ethics, and strengthen predictive analysis. By encouraging cross-industry collaboration and innovation, this sector will have an impact on everything from smart cities and supply chains to healthcare and climate analyses.
The Location Analytics Market 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, according to a new report by MarketsandMarkets™. Location analytics is a global game-changer for businesses, utilizing geospatial data to provide insights for strategic decisions and operational excellence. It optimizes market expansion, customer engagement, and supply chain efficiency. With location-based insights, companies proactively manage risks and enhance urban planning. In healthcare, it refines patient care and disease tracking. For retailers, it drives personalized strategies, while emergency responders benefit from optimized disaster responses. Overall, location analytics empowers businesses globally, transforming data into actionable insights for informed decision-making and superior performance.
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353 - Tables
58 - Figures
350 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2017–2028 |
Base year considered | 2022 |
Forecast period | 2023–2028 |
Forecast units | USD Million/Billion |
Segments Covered | Offering, Location Type, Application, Vertical, and Region |
Geographies covered | North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America |
Companies covered | 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) and many more. |
Healthcare & Lifesciences to account for higher CAGR during the forecast period.
Location analytics is swiftly gaining ground in the healthcare and life sciences sector. By amalgamating geographic data with patient information, it offers insights crucial for optimized healthcare delivery, resource allocation, and disease tracking. From enhancing patient outcomes through personalized treatment plans to streamlining supply chain management for pharmaceuticals, the sector benefits immensely. Real-time geospatial analysis empowers efficient emergency response, epidemiological studies, and healthcare infrastructure planning. However, concerns over data privacy and interoperability challenges must be diligently addressed to fully harness the potential of location analytics, ensuring it becomes an indispensable tool for evidence-based decision-making across the healthcare and life sciences landscape.
Services Segment to account for higher CAGR during the forecast period.
The market for location analytics is bifurcated based on offering solutions and services. The CAGR of services is estimated to be highest during the forecast period. Professional and managed services have a significant impact on the Location Analytics Market by offering a range of valuable services to businesses. Further, the professional services are bifurcated into consulting, training, support and maintenance, and deployment and integration. As business recognition of location analytics' value grows, consulting services experience heightened demand, pivotal in optimizing location analytics solutions.
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Asia Pacific to exhibit the highest CAGR during the forecast period.
The CAGR of Asia Pacific is estimated to be highest during the forecast period. Location analytics is rapidly growing in the Asia Pacific, which includes China, India, Japan, South Korea, ASEAN, and ANZ (Australia and New Zealand). Location analytics is experiencing a remarkable surge in the Asia Pacific region. With its diverse geography and rapidly evolving technological landscape, this region is embracing location-based insights to drive innovation and informed decision-making. Organizations across sectors are recognizing the strategic advantage of harnessing geospatial data to gain deeper insights into consumer behaviors, optimize supply chains, and enhance operational efficiency. The region's dynamic business environment, coupled with the proliferation of mobile devices and IoT technologies, fuels the growth of location-based services. Governments and enterprises are investing in infrastructure to support the collection and analysis of geospatial data, fostering a vibrant ecosystem for location analytics startups and established players alike.
Top Key Companies in Location Analytics Market:
Major vendors in the global Location Analytics Market 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).
Recent Developments:
- In June 2023, IBM acquired Agyla SAS to bolster IBM Consulting's capabilities in providing localized cloud solutions to clients in France. By integrating Agyla's expertise, IBM will enhance its portfolio of hybrid multicloud services and strengthen its commitment to advancing hybrid cloud and AI strategies within the region.
- In May 2023, TomTom and Alteryx partnered to seamlessly incorporate TomTom's Maps APIs into Alteryx products and location insights packages. This integration extends to Alteryx Designer and the recently introduced Location Intelligence offering on the Alteryx Analytics Cloud Platform.
- In May 2023, Hexagon AB and Hitachi Zosen Corporation signed a deal to bring the TerraStar-X Enterprise correction service to Japan. Under the agreement, Hexagon will receive GNSS data from Nippon GPS Data Service (NGDS), a subsidiary of Hitachi Zosen.
- In January 2023, Precisely acquired Transerve to enhances businesses' ability to make faster and more confident decisions by providing them with SaaS visualization, data enrichment, and analysis capabilities that offer valuable spatial context.
- In October 2022, Zebra Technologies partnered with PartnerConnect Location and Tracking Specialisation for partners focused on selling RFID and real-time location systems (RTLS). Developed as a strategic component of Zebra's award-winning PartnerConnect program, the new Location and Tracking Specialisation would provide resellers with the tools they need to drive RFID and RTLS sales and help businesses successfully deploy these solutions for transformational business benefits.
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Location Analytics Market Advantages:
- Location analytics enables deeper insights into patterns, correlations, and trends that conventional data analysis may have overlooked by placing data in its spatial context.
- By exposing geographical correlations and assisting businesses in choosing the best places for growth, resource allocation, and risk assessment, location analytics helps well-informed decision-making.
- Based on location data, businesses are able to target their marketing efforts, provide individualised client experiences, and improve service delivery.
- By examining routes, distances, and demand patterns, location analytics optimises supply chain, logistics, and resource management, resulting in lower costs and greater effectiveness.
- Businesses can undertake thorough market analyses to find untapped opportunities and evaluate competitive landscapes by integrating geographical data with demographic and economic information.
- By assisting in the assessment of environmental risks, natural disasters, and infrastructure weaknesses, location analytics enables businesses to execute proactive planning and risk-reduction measures.
- Organisations may monitor assets, vehicles, and resources in real time with the use of live geospatial data feeds, enabling quick response to emergencies and dynamic operational modifications.
- Based on regional demand and customer preferences, retailers can utilise location data to optimise shop layouts, inventory control, and product assortment.
Report Objectives
- To define, describe, and forecast the Location Analytics Market by offering (solutions and services), location type, application, vertical, and region from 2023 to 2028, and analyze the various macroeconomic and microeconomic factors that affect market growth
- To provide detailed information related to the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
- To analyze subsegments with respect to the individual growth trends, prospects, and contribution to the total market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape of the market
- To forecast the revenue of the market segments with respect to all the major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America (LA)
- To profile the key players and comprehensively analyze their recent developments and positioning related to the Location Analytics Market
- To analyze competitive developments such as mergers and acquisitions, new product launches and developments, and research & development (R&D) activities in the market
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