Location Analytics Market by Component (Solutions and Services), Location Type (Indoor Location and Outdoor Location), Application (Remote Monitoring, Risk Management), Vertical (Retail, Media and Entertainment), and Region - Global Forecast to 2024
Global location analytics market size to grow at a CAGR of 16.6% during the forecast period
The global location analytics market size is expected to grow from USD 10.6 billion in 2019 to USD 22.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 16.6% during the period 2019-2024. Major growth factors for the market include increasing use of spatial data and analytical tools, rising need of predictive analytics for business, and growing use of location-based applications among consumers. These factors are expected to drive the global location analytics market. However, legal concerns and data privacy may limit the market growth.
Supply chain planning and optimization application segment to grow at the highest CAGR during the forecast period
Location analytics for the supply chain planning and optimization application solves multiple requirements raised by business organizations working in and across a number of verticals, such as retail and wholesale, manufacturing, and telecommunication and IT. Location analytics solutions help organizations better visualize and efficiently manage their supply chain in various ways, right from choosing the best mode of transport to matching locations for ensuring optimized distribution. It assists business executives in planning raw material sourcing to optimize their timely delivery, estimating procurement spend analysis, optimizing inventory levels across the procurement cycle, managing contracts, and measuring supplier performance through a set of key performance indicators.
Asia Pacific (APAC) to grow at the highest growth rate during the forecast period
APAC is expected to experience extensive growth opportunities in the next 5 years. The existence of a large population, introduction of emerging technologies, and high growth in countries such as China, India, Australia, Japan, Singapore, and Hong Kong are the major factors contributing to the growth of the location analytics market in the region. The organizations in APAC are focusing on customer interests and their preferences. The mobile devices and internet are being widely used for connectivity in the region. The region provides opportunities for small analytics vendors to introduce their innovative location analytics solutions. All these factors are responsible for the expeditious growth of the location analytics market in APAC.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the location analytics market.
The following list provides the breakup of primary respondents’ profiles:
By company type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
By designation: C level Executives: 35%, Director Level: 25%, and Others: 40%
By region: North America: 45%, Europe: 20%, APAC: 30%, and Rest of the World: 5%
Major vendors in the global location analytics market include SAS (US), Esri (US), Oracle (US), Pitney Bowes (US), Microsoft (US), Galigeo (France), Cisco (US), IBM (US), Purple (UK), GeoMoby (Australia), Alteryx (US), CleverAnalytics (Czech Republic), IndoorAtlas (Finland), Lepton Software (India), Quuppa (Finland).
The report includes an in-depth competitive analysis of the key players in the location analytics market, along with their company profiles, recent developments, and key market strategies. The report segments the global location analytics market by solution, service, location type, application, vertical, and region.
Key benefits of buying the report:
The report would provide the market leaders/new entrants in the location analytics market, information on the closest approximations of the revenue numbers for the overall location analytics market and subsegments. The report would also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
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