Location Analytics Market
The global location analytics market was valued at USD 8.35 billion in 2017 and is projected to reach a value of USD 19.61 billion by 2023, at a CAGR of 15.29% over the forecast period, 2018-2023.
Location analytics offers a wide range of potential applications to the users, not limiting itself to a single department or an organization. Several businesses are using geographical information for analyzing, visualizing, and understanding the location-based information in making decisions related to the organization. Location analytics further uses the past data of customer profiles and their preferences to understand various trends and patterns, globally. Growth in the retail industry, growing use of GPS devices, and technological advancements in the field of GIS technology are driving the location analytics market.
Growth in the Retail Market
With more retail stores coming up, there is a huge chunk of raw data that comes along with the user as soon as he enters the store until he leaves after the final transaction. These data points are now being analyzed with different analytical solutions to better understand consumer behavior and purchasing patterns, which can be eventually utilized to provide a better customer experience the next time. Location analytics helps in contextualizing of location data so that meaningful insights could be drawn and strategies can be made, which can be used to gain a competitive edge over other market players. Leading organizations are using tools, such as pricing and assortment optimization, location analytics, and customer-driven marketing to achieve dramatic benefits.
Retail Sector Accounted for the Largest Share of the Demand
Location analytics technology and Building Information Modelling (BIM) are used to intelligently model retail infrastructure. The integration of BIM with location analytics eliminates data redundancy, reduces costs incurred in design, planning, and other miscommunications. The increased need for packaging and logistics with location analytics for improved performance have driven the market growth. Many retail organizations are using location analytics to analyze revenue generated in different territories and to calculate region-wide profitability. Retail companies can analyze market campaign effectiveness in different locations and monitor competitors' activities. Other activities, such as merchandising, store operation, distribution, and market planning are also managed by location analytics.
North America to Remain a Major Market for Location Analytics
Real-time data analytics in defense technology paved the way for broader applications of location data across multiple industries, such as retail, BFSI, and healthcare, among others. Huge technology support and growing automation trends are driving the growth of location analytics in this region. In addition, the advent of new technologies, such as Internet of Things, are being increasingly employed in this region, which are being integrated with existing conventional infrastructure to a large extent to extract optimal output from the collected information. This will help organizations gain substantial benefit. With a large amount of data being generated from this region, companies are looking for utilizing BI solutions to grow in the market.
Location Analytics Market Key Players:
- Cisco Systems, Inc.
- Microsoft Corporation.
- SAS Institute Inc.
- Oracle Corporation.
- SAP SE.
- Environmental Systems Research Institute, Inc. (ESRI).
- TIBCO Software Inc.
- Pitney Bowes Inc.
- Galigeo SAS.
- Trimble Inc.
- Hexagon AB.
- International Business Machines Corporation (IBM).
Key Developments in the Location Analytics Market
- January 2018 – Trimble partnered with CalAmp, where CalAmp technologies help to improve the response time tracking vehicle and equipment location. The collaboration is aimed at delivering an industry-leading telematics device with an improved field service management software technology, to provide a holistic solution capable of transforming the work processes and efficiency.
Reasons to Purchase Location Analytics Market Report
- Impact of the emergence of geocoding technology.
- Analyze various perspectives of the market with the help of Porter’s five forces analysis.
- Growth across various end users, such as retail, BFSI, healthcare, etc.
- Regional analysis of the market.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support, along with the Market Estimate sheet in excel.
Customize Location Analytics Market Report
- This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.1 Location Analytics Market Overview
4.2 Factors Driving the Location Analytics Market
4.2.1 Growth in Retail Industry
4.2.2 Commodization of Geospatial Information
4.3 Factors Restraining the Location Analytics Market
4.3.1 High Costs and Operational Concerns
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness – Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products or Services
4.5.5 Competitive Rivalry among Existing Competitors
5. Location Analytics Market Technology Overview
6. Global Location Analytics Market Segmentation
6.1 Location Analytics Market By Location Positioning
6.1.1 Indoor Positioning
6.1.2 Outdoor Positioning
6.2 Location Analytics Market By Deployment Model
6.2.1 On-premise Deployment Model
6.2.2 On-demand Deployment Model
6.3 Location Analytics Market By Vertical
6.3.3 Transportation & Logistics
6.3.5 Government & Defense
6.3.6 Utilities & Communication
6.3.7 Others (Manufacturing, Media & Entertainment)
6.4 Location Analytics Market By Component
6.5 Location Analytics Market By Geography
6.5.1 North America Location Analytics Market Size (2018-2023)
6.5.2 Europe Location Analytics Market Size (2018-2023)
6.5.3 Asia-Pacific Location Analytics Market Size (2018-2023)
6.5.4 Latin America Location Analytics Market Size (2018-2023)
6.5.5 Middle East & Africa Location Analytics Market Size (2018-2023)
7. Location Analytics Market Comapnies
7.1 Cisco Systems, Inc.
7.2 Microsoft Corporation
7.3 SAS Institute Inc.
7.4 Oracle Corporation
7.5 SAP SE
7.6 Environmental Systems Research Institute, Inc. (ESRI)
7.7 TIBCO Software Inc.
7.8 Pitney Bowes Inc.
7.9 Galigeo SAS
7.10 Trimble Inc.
7.11 Hexagon AB
7.12 International Business Machines Corporation (IBM)
8. Location Analytics Market Investment Analysis
9. Future of the Location Analytics Market