CHICAGO, Aug. 7, 2020 /PRNewswire/ -- According to a new
market research report "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",
published by MarketsandMarkets™, 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 Compound Annual Growth Rate (CAGR) of
14.1% during the forecast period. Major factors fueling the market
growth are the growing need of predictive analytics for businesses
and the increasing use of location-based applications.
Browse in-depth TOC
on "Location Analytics
Market"
297 – Tables
56 –
Figures
313 – Pages
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The geocoding and reverse geocoding segment to hold a larger
market size during the forecast period
The Location Analytics Market is segmented into geocoding and
reverse geocoding, data integration and ETL, reporting and
visualization, thematic mapping and spatial analysis, and others
(DBMS and sociodemographic data) by solutions. The geocoding and
reverse geocoding segment is expected to have a larger market size
during the forecast period, owing to the need to perform risk
assessments using exact location information for making accurate
analysis during natural calamities, such as earthquakes and floods.
However, the data integration and ETL segment is expected to grow
at a higher CAGR during the forecast period. ETL helps in
extracting geographic data from any source system, transforming it
into a format based on users' needs and loading it in target
systems.
By application, sales and marketing optimization segment to
grow at the highest CAGR during the forecast period
The Location Analytics Market by application has been 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 need to boost sales by performing
various marketing campaigns and advertisements based on locations
is leading to the adoption of sales and marketing optimization
application.
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North America to hold the
largest market size during the forecast period
In North America, the US and
Canada are the two major
contributors to the overall Location Analytics Market growth. In
the US, the government and defense, and telecommunication and IT
verticals are expected to majorly contribute to the market growth.
The growth in North America is
attributed to the rising technological advancements, increasing
industry standards for location-based technologies, and growing
financial support from the governments.
Major vendors in the global Location Analytics Market are
Google (US), Esri (US), Precisely (US), SAP (Germany), IBM (US), SAS Institute (US), Oracle
(US), Microsoft (US), Cisco Systems (US), TomTom (Netherlands), Hexagon (Sweden), Zebra Technologies (US), GaliGeo
(France), Purple (UK), Here
technologies (US), Geomoby (Western
Australia), Alteryx (US), CleverMaps (Czech Republic), IndoorAtlas (Finland), Lepton Software (India), Quuppa (Finland), CARTO (US), Tibco software (US),
SparkGeo (Canada), PlaceIQ (US),
Ascent Cloud (US), FourSquare (US), MapLarge (Georgia), Hardcastle GIS (US), GapMaps
(Australia), Mapidea (Portugal), MOCA (Spain), Geoblink (Spain), Orbica (New
Zealand), Quadrant (Singapore), Locale.ai (India), Placense (Israel), and Spatial.ai (US).
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