Location Analytics Market was valued at USD 18.68 billion in 2022 and is expected to rise from USD 21.2 billion in 2023 to reach a value of USD 58.39 billion by 2031, at a CAGR of 13.5% during the forecast period (2024–2031).
The global location analytics market is mainly driven by the increasing demand for tracking location in real-time to improve supply chain. In recent times, the incorporation of Internet of Things devices has also increased in various industries, which is pushing the market forward. Businesses also want to gain an edge over the competition in the market through customer behavior analytics solution, this acting as a substantial growth factor for the market. Furthermore, increase in data volume and variety owing to the proliferation of digital channels have resulted in higher investment in analytics solutions. Today remote working is also increasing, and to manage it efficiently organizations are investing in better location tracking systems, progressing the market further. Some of the other factors that are encouraging the growth of the market are advent of smart cities, high requirement of public safety measures, and better personalized customer experience with analytics. Many companies are also investing in research and development so that they can provide the market with more efficient analytics solutions, boosting market development.
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Top Players Company Profiles
- 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)
- LocationsCloud (US)
Rising Adoption of Location-Based Applications in Several Industries to Track Customer Location in Real-Time Favors Market Growth
Today businesses are extensively depending on data to offer the best customer services to increase their revenues in this digitalization setting. Organizations might use the capability to predict spatial data for managing their business strategies like deciding regional priorities, suitable pricing plans, and highest buying periods. Companies are also combining data with GIS so that they can gain knowledge about the customer’s location to provide suitable product details and guide to the nearest shop depending on their requirement. The implementation of such solutions along with innovative technologies like AI and ML is augmenting the market growth. Such solutions with advanced technologies are being used across business operations like assent and event management, logistics management, and visualization and reporting. Sectors like banking, financial, and government are utilizing geospatial data to enhance their revenue and provide tailored services for their customers. The strategic advantages of location analytics in various sectors are propelling the market growth.
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Segments covered
Offering (Solution (Type [Geocoding & Reverse Geocoding, Data Integration & ETL, Reporting & Visualization, Thematic Mapping & Spatial Analysis and Other], Deployment [on-premises and Cloud]), and Services (Professional Services [ Consulting Services, Deployment & Integration and Training, Support, and Maintenance] and Managed Services))
Location Type (Indoor, Outdoor)
Deployment Mode (On-premise, Cloud)
Application (Risk Management, Emergency Response Management, Customer Experience Management, Supply Chain Planning & Optimization, Sales & Marketing Optimization, Location Selection & Optimization and Other.)
Industry Vertical (BFSI, Retail & E-consumer, Manufacturing, Healthcare & Life science, Agriculture, Automotive Transportation & Logistic, Government & Defense, Energy & Utility, IT/ITES, Telecommunication, Media & Entertainment, and Others)
Emergence of IoT and Connected Devices to Exchange Data Supports the Progress of the Market Further
The emergence and advancement of IoT and connected devices have massively fueled the location analytics market. This is because these devices can create huge amounts of geospatial data like position data because they are integrated with various sensors. The integration of location intelligence with IoT is helping businesses to use this data for critical analysis and decision-making process. Moreover, location intelligence can be utilized to optimize routes, monitor supply chain activities, and track assets in the logistics and transportation sector. It will also become easy for organizations to find inefficiencies in operations, reduce expense, and increase functional effectiveness by analyzing location data in real-time from connected devices. Location analytics is also crucial for the development of smart cities. Nowadays, these IoT devices are all over the metropolitan areas to gather data as the cities are becoming more connected and digitalized. These huge amounts of data are based on various factors like energy usage, air quality and traffic patterns. There are many platforms for location analytics that can process and analyze this data providing city administrators valuable knowledge for resource allocation, urban planning, and infrastructure development.
- Accenture has increased the strength of its SAP and supply chain abilities with the acquisition of Camelot Management Consultants in July 2024. This collaboration placed Accenture as a prominent player in the SAP and supply chain consulting setting.
- Esri launched a new line of AI-based tools for ArcGIS in March 2024. The objective was to enhance predictive analytics and decision-making processes depending on spatial data.
- GeoIQ was acquired by HERE Technologies in February 2024. This will help in improving the company’s data analysis offerings.
- In January 2024 there was a collaboration between ANYbotics and Cognite. This partnership will provide integrated robotic inspection solutions to automate real-time data gathering.
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Rising Demand of Location Analytics Solutions in Retail Sector to Improve Retail Operations
Lately, the demand for location analytics has immensely increased in the retail sector because of high utilization of GPS and spatial analytical tools. These advanced devices are helping the businesses to improve their retail operations. The retailers can easily develop precise sales strategies with the help of GIS platform. These platforms can analyze the spending habits of customer from various locations. A competent geographical data analysis also assists the retailers to comprehend the product and service demands based on geographic location. Companies are also partnering to launch new technologies in the retail sector, increasing the demand for location analytics solutions.
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