Location Analytics Market Worth $ 29.9 Billion By 2026

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CHICAGO, December 6, 2021 / PRNewswire / – According to a research report Location analysis Market with COVID-19 Impact Analysis, By Component (Solutions & Services), Location Type (Indoor & Outdoor Location), Application, Deployment Mode, Organization Size, Industry Vertical & Region – Global Forecast to ‘in 2026“, published by MarketsandMarkets â„¢, the size of the location analysis market is expected to increase from $ 15.7 billion in 2021 to $ 29.9 billion in 2026, at a compound annual growth rate (CAGR) of 13.8% over the forecast period.

The location analysis industry is driven by the increasing use of spatial data and analytical tools. However, the increasing use of location-based applications and the use of location data and analytics to combat COVID-19 is further contributing to the growth of the location analytics market.

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Based on component, solution segment to accommodate larger market size during forecast period

The location analysis market has been segmented into two components: solution and services. The deployment of location analytics has seen an increase in adoption as it serves a variety of purposes, such as data integration and ETL and reporting and visualization. The growing adoption of location analytics across all major verticals, such as manufacturing, government and defense, media and entertainment, transportation and logistics, energy and utilities, telecommunications and IT, Health, Pharmacy and Life Sciences, Tourism and Hospitality, Banking and Financial Services, Insurance, Real Estate, Education.

Based on the mode of deployment, the cloud segment should hold the largest market size during the forecast period

Cloud computing refers to the storage, management and processing of data through networks of remote servers, which are usually accessed through the Internet. According to Statista, cloud computing would generate more than 300 billion dollars of turnover in 2020 as a component of IT services. At the same time, PwC shows that the COVID-19 crisis has further accelerated the transition to the cloud, according to data for the first quarter of 2020, cloud spending increased by 37% to reach $ 29 billion. The increasing generation of data poses various challenges for many organizations. These challenges include storage, privacy, and affordability.

Based on the application, the risk management segment will hold the largest market size during the forecast period

The application-based location analysis market is segmented into risk management, emergency response management, customer experience management, remote monitoring, supply chain planning and optimization, optimization of sales and marketing, location selection and optimization, and others (predictive asset management and inventory management). The ability to anticipate and avoid risks, as well as to take intelligent risks to increase value, can be made possible by analyzing relevant data to understand current scenarios and predict future events. Businesses can integrate location analysis with customer location data and city-based product offerings to find relevant solutions and manage risk. Location analysis also helps spot patterns, detect hidden trends, and avoid delays using visual interfaces provided by companies like Esri and Galigeo.

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Based on the location type, the outdoor location segment is expected to hold the largest market size during the forecast period

Organizations use outdoor location analysis to monitor their real estate assets to reduce costs. Airlines can determine the exact location of their planes and accordingly notify passengers of the arrival time in the event of a delay. The main applications for outdoor locations are geomarketing and advertising, asset tracking, personal tracking, customer location tracking, fleet tracking, freight management, optimization and scheduling. routes, map discovery and infotainment, geographic event alerts and defense management.

On the basis of vertical, Healthcare, Pharmacy and Life Sciences segment is expected to grow at a higher CAGR during the forecast period

Location analysis is increasingly accepted by all verticals to improve profitability and reduce overall costs. The main verticals that adopt location analysis solutions are Retail, Manufacturing, Government and Defense, Media and Entertainment, Transportation and Logistics, Energy and Utilities, Telecommunications and IT, Health, Pharmacy and Life Sciences, Tourism and Hospitality, Banking and Financial Services, Insurance, Real Estate, Education. Healthcare, Pharmaceuticals and Life Sciences, by vertical segment are forecast to grow at a higher CAGR during the forecast period

Based on the size of the organization, the SME segment is expected to grow at the highest CAGR during the forecast period

SMEs are organizations with less than 1,000 employees. SMEs are also implementing location analysis solutions that enable better orientation in the complex building by providing location-based analysis and tracking functionality. Location analysis is one of the most important for SMEs as it helps to determine not only the external market conditions but also the internal scope of action. It enables operational practices to be optimized and ROI decisions to be assessed when taking over a new business site.

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North America hold the largest market size during the forecast period

North America is expected to account for the largest market share during the forecast period. In North America, remote monitoring and risk management are considered very effective by most organizations and verticals. On the other hand, Europe gradually integrates these advanced solutions within its companies. APAC is witnessing a substantial increase in the adoption of location analytics due to increasing digitization and the growing demand for centrally managed systems.

Major providers of location analytics include IBM (US), Google (US), Oracle (US), Microsoft (US), Esri (US), SAS (US), Precisely (US), SAP (Germany), CISCO (United States), TomTom (Netherlands), Hexagon (Sweden), Zebra Technologies (US), Alteryx (US), HERE (US), Purple (UK), Galigeo (France), Geomoby (Western Australia), Quppa (Finland), CleverMaps (Czech Republic), InteriorAtlas (Finland), Lepton Software (India), CARTO (United States), TIBCO (United States), Sparkgeo (Canada), PlaceIQ (US), Ascent Cloud (US), Foursquare (US), MapLarge (Georgia), SedimentIQ (United States), Ariadne Maps (Germany), Locale.ai (India), Geoblink (Spain), Nrby (United States), Mapidea (Portugal), GapMaps (Australia), LocationsCloud (United States). These market players have adopted various growth strategies such as partnerships, collaborations and new product launches to grow were the strategies most adopted by major players from 2019 to 2021, which has helped companies to innovate their offers and expand their customer base.

Browse Adjacent Markets: Analysis of Market Research Reports and Advice

Associated reports:

Geospatial analysis Marlet by component, solution (geocoding and reverse geocoding and thematic mapping and spatial analysis), service, type, technology, mode of deployment, organization size, application, vertical and region – Global forecast to 2026

Indoor location Marlet by Component (Hardware, Solutions & Services), Technology (BLE, UWB, Wi-Fi, RFID), Application (Emergency Response Management, Remote Monitoring), Organization Size, Vertical & Region – Global Forecast to ‘in 2026

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