Increasing proliferation of location analytics market technologies in today’s scenario among businessman will fuel up the industrial growth. Enterprises are mainly focusing on accessing dynamic location, such as information on customer preferences, their whereabouts, frequency of visits and duration of their stay. The dynamic location data allows organizations to forecast customer’s behavior along with their buying patterns, therefore aiding in better decision-making and stimulating the market demand.
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LOCATION ANALYTICS MARKET DYNAMICS
During emergencies and crisis response location analytics has become an indispensable technology. Government is emphasizing on geographic intelligence and geospatial data to mitigate and analyze the spread of coronavirus in high-risk containment zones. The prediction of the virus spread through geospatially-powered interactive dashboards has further raised the market growth of location analytics market. Furthermore, social media powered by location analytics gives rise to new possibilities for evaluating business strategies and to enterprises for sales & marketing. Enterprises need to consolidate demographic & geographic information along with customer data to find out the complexities to outperform industry rivals. This has boosted the location analytics market demand. For instance, Twitter started their partnership with Yelp and Foursquare to leverage metadata which is related to location of its users via smartphones and internet browsers.
COVID 19 IMPACT ON LOCATION ANALYTICS MARKET
The expansion of Covid-19 has given rise to huge disruption in daily activities. It has forced people to follow different rules of social distancing, temporary suspension of various business activities along with travel limitations. Such circumstances have boosted the use of spatial data science and location analytics and is also playing a major role in the market dynamics. Location intelligence have been playing a major role in the city management emergency services during Covid-19. The healthcare infrastructure has been facing various issues including hospitals at peak capacity and the shortage of masks, ventilators and other key sanitary materials. To overcome these challenges location data plays a major role and provides insightful information for better optimization and planning of resources and efforts. Location data has assisted government and health agencies in mapping active and confirmed cases, fatalities along with recoveries to identify where Covid-19 infections have occurred. Location analytics has been providing great help and support to the people so that they can get back to work safely while ensuring compliances with social distancing norms. Hence, location analytics solutions can help businesses plan in an efficient and better way.
LOCATION ANALYTICS MARKET SEGMENTAL OVERVIEW
The report analyses the Location Analytics Market based on component, location positioning, industry verticals, applications and by geography.
LOCATION ANALYTICS MARKET BY COMPONENT
By component, the global location analytics market is segmented into solution and services. Solution is further sub-segmented into thematic mapping, geocoding & reverse coding, spatial analysis, reporting & visualization. Services is sub-segmented into managed service, professional service. Solution segment holds the largest share of the global location analytics market further service segment will probably demonstrate a momentous growth rate in the upcoming years. The development of different custom applications and enhancement of the existing products is leading to drive the sufficient demand for maintenance and support services followed by the implementation and integration services.
LOCATION ANALYTICS MARKET BY LOCATION POSITIONING
By location positioning, the global location analytics market is segmented into outdoor positioning and indoor positioning. Among these outdoor positioning segment will account for a significant growth in location analytics market during the forecast period. Outdoor analytics drives the major revenue growth of the location analytics market.
LOCATION ANALYTICS MARKET BY APPLICATION
The global location analytics market by application is classified into risk management, customer experience management, remote monitoring, sales and marketing, emergency response management, supply chain planning & optimization, location selection optimization. Key players are developing location analytical tools that are serving businesses to target marketing by offering user preference services. Further one of the key players, Cuebiq Inc. has launched an onboard location-based campaign optimization platform. This new development of offline campaign platform is helping different sectors to understand the impact of offline location-based cross channel advertising. Therefore, the sales and marketing optimization is likely to hold a consequential revenue share. LBS is proving to be immensely beneficial across the emergency and disaster management applications owing to their ability to conserve the location data.
LOCATION ANALYTICS MARKET BY INDUSTRY VERTICAL
Based on industry verticals, location analytics market is segmented into retail, transportation & logistics, BFSI, healthcare, IT & telecom, energy and utilities, manufacturing. The retail industry is forecasted to hold a large market share owing to the increasing use of spatial analytical tools and GPS for enhancing the indoor retail operations. The location intelligence services are highly in demand due to its various benefits across the transportation and logistics industry. Geospatial services, global positioning services (GPS) are used for real time tracking of assets during transportation across the globe. For instance government globally has taken initiative for the development of the open-source data cube platforms which are dependent on the location analytics technology and GIS.
LOCATION ANALYTICS MARKET BY GEOGRAPHY
Geographically, the location analytics market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. North America is expected to dominate the market growth. Europe is anticipated to show a favorable CAGR in the global market. Asia pacific is expected to display significant growth during the forecast period. Emergence of large number of startups across the country has led to the growth of the local analytics market in Asia.
LOCATION ANALYTICS MARKET KEY PLAYERS
Some of the major players operating in this market include ALTERYX, INC., Cisco Systems, Inc., ESRI, Galigeo, IndoorAtlas Ltd., NEWGROVE Limited, Pitney Bowes Inc., SAS Institute, Inc., Software AG, Tibco Software Inc, Here technologies (US), Quuppa (Finland), Alteryx (US), CleverMaps (Czech Republic), IndoorAtlas (Finland), Lepton Software (India), Geomoby (Western Australia), CARTO (US), Tibco software (US), SparkGeo (Canada), Ascent Cloud (US), PlaceIQ (US), Mapidea (Portugal), FourSquare (US), MapLarge (Georgia), Hardcastle GIS (US), GapMaps (Australia), MOCA (Spain), Orbica (New Zealand), Quadrant (Singapore), Locale.ai (India), Geoblink (Spain), Placense (Israel), and Spatial.ai (US).
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