DUBLIN, Nov. 2, 2020 /PRNewswire/ -- The "Location Analytics Market by Component (Solutions and Services), Location Type (Indoor Location and Outdoor Location), Application (Remote Monitoring, Risk Management), Vertical (Retail, Government and Defense), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Location Analytics Market Size is Expected to Grow from USD 13.8 Billion in 2020 to USD 26.7 Billion by 2025, at a CAGR of 14.1%
Location analytics is a process or the ability to gain insights from the location or geographic component of business data. It is focused on thematic mapping and spatial analysis for business analytics. Location analytics solutions have simple mapping and spatial analysis capabilities that work directly with business analytics packages and enterprise data systems, without custom integration efforts.
The location analytics industry is driven by the increasing use of spatial data and analytical tools. However, the rising need of predictive analytics for businesses and the growing use of location-based applications further contributes to the growth of the location analytics market.
Sales and marketing optimization segment to grow at a higher CAGR during the forecast period
The location analytics market based on application is segmented into risk management, emergency response management, customer experience management, remote monitoring, supply chain planning and optimization, sales and marketing optimization, location selection and optimization, and others (predictive asset management and inventory management). The sales and marketing optimization segment is expected to grow at a rapid pace during the forecast period.
Location analytics can help analyze campaign responses for sales and marketing optimization based on different demographics, individual time merchandising, and the time when campaigns get maximum responses. The sales and marketing information, when plotted on maps, can help understand customer preferences based on their surroundings and products purchased leading to its adoption in the sales and marketing optimization segment.
Indoor location segment to grow at the highest CAGR during the forecast period
The location analytics market by location type has been segmented into an outdoor location and indoor location. Indoor location technologies modernize the use of smartphones by incorporating GPS and other positioning technologies with style mapping, which provides navigation services inside malls, megastores, offices, airports, casinos, universities, and hospitals leading to the growth of the location analytics market across the globe in this segment.
APAC to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR of 14.9% during the forecast period. The existence of a large population, introduction of emerging technologies, and high growth in countries such as China, India, Australia, Japan, Singapore, and Hong Kong are the major factors contributing to the growth of the location analytics market in the region.
Moreover, the region provides opportunities for small analytics vendors to introduce their innovative location analytics solutions. All these factors are responsible for the expeditious growth of the location analytics market in APAC.
Major vendors offering location analytics solutions and services across the globe are SAS Institute (US), Oracle (US), Esri (US), IBM (US), and Precisely (US), among others.
Market Dynamics
Drivers
Increasing Use of Spatial Data and Analytical Tools
Growing Need of Predictive Analytics for Businesses
Increasing Use of Location-Based Applications Among Consumers
Use of Location Data and Analytics to Fight COVID-19
Ability to Manage Supply Chain Disruptions During COVID-19
Capability to Manage Public Health Operations During COVID-19
Restraints
Legal Concerns and Data Privacy Issues
Opportunities
Rise in the Adoption of Advanced Technologies
Increase in the Adoption of Social Media for Customer Engagement
Challenges
Lack of Uniform Regulatory Norms
High Initial Cost of Deployment
Cumulative Growth Analysis
Ecosystem
Average Selling Price Trend
Value Chain Analysis
Technology Analysis
Bluetooth
Global Positioning System
Radio-Frequency Identification
Wi-Fi
Near-Field Communication
Ibeacon
Case Study Analysis
Banking and Financial Services Use Cases
Use Case 1: Data Monetization
Use Case 2: Improvement of Business Performance
Use Case 3: Optimization of Atm Locations
Use Case 4: Improvement of Targeted Advertising
Insurance Use Cases
Use Case 1: Fraud Detection
Use Case 2: Risk Prediction
Use Case 3: Development of Profitable Portfolio
Retail Use Cases
Use Case 1: Site Selection
Use Case 2: Expansion in New Markets
Use Case 3: Acquisition of New Customers and Improvement in Customer Loyalty
Healthcare Use Cases
Use Case 1: Reduction of Hospital Infections
Use Case 2: Identification of Root Cause of Health Issues
Real Estate Use Cases
Use Case 1: Site Planning
Use Case 2: Management of Real Estate Portfolio
Use Case 3: Leveraging Location Data
Energy and Utilities Use Cases
Use Case 1: Fulfilling Growing Demand
Use Case 2: Managing Outages
Hospitality Use Cases
Use Case 1: Loyalty Management
Use Case 2: Gaining Competitive Insights
Media and Entertainment Use Cases
Use Case 1: Geomarketing
Transportation and Logistics Use Cases
Use Case 1: Supply Chain Optimization
Government Use Cases
Use Case 1: Access Control
Use Case 2: Law Enforcement and Corrections
Impact of COVID-19 on the Location Analytics Market
Companies Mentioned
Alteryx
Ascent Cloud
Carto
Cisco Systems
Clevermaps
Dynamic Companies
Esri
Foursquare
Galigeo
Gapmaps
Geoblink
Geomoby
Google
Hardcastle Gis
Here Technologies
Hexagon
IBM
Indooratlas
Lepton Software
Locale.Ai
Mapidea
Maplarge
Microsoft
Moca
Oracle
Orbica
Placeiq
Placense
Precisely
Progressive Companies
Purple
Quadrant
Quuppa
Responsive Companies
SAP
Sas Institute
Sparkgeo
Spatial.Ai
Starting Blocks
Tibco Software
Tomtom
Zebra Technologies
For more information about this report visit https://www.researchandmarkets.com/r/4vgmtd
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