Location Analytics Market Value Will Be Reaching USD 55.14 Billion, By 2030, with a CAGR of 16.11%.

New York,USA, Aug. 24, 2022 (GLOBE NEWSWIRE) -- The process through which companies use location-based information to become aware of a particular context and its various viewpoints is known as location-based or geo-analytics. Location-based analytics can help a company or organization analyze its data in a correct and comprehensive way. The rise in demand for AI, Machine Learning, and digitization, for adequate location analysis is augmenting the growth of the market.

Some pointers for Location Analytics Market:

• The Software segment held the maximum percentage share of 63.13% for the Component sector.
• The Outdoor segment of the Location type section dominated with 53.77%.
• The Cloud segment of the Deployment Mode section led with a 60.23% share.
• For Applications, the Remote Monitoring segment held the lion's share of 21.88%.
• For the Vertical Analysis section, the Retail sector held the maximum share of 33.67%.
• For the Regional segment, North-America led with a 40.11% share of the market.

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List of factors propelling the Location Analytics Market growth:

(Rise in usage of location intelligence platforms, Increase in the rate of utilization of geospatial data, etc.)

• The number of people using location intelligence solutions is rising continuously. This is because of the rising usage of artificial intelligence, machine learning, and other contemporary technologies. These cutting-edge technological solutions are embraced by enterprise operations such as event and asset management, visualization and reporting, and logistics, thereby fuelling the market growth. SMR'S research study showed that more than 90 % of the market leaders believe that location intelligence is essential for the success of their respective businesses. Managers, Executives, and operators implement this kind of intelligence to fulfill a wide range of their requirements.
  
  
• The majority of the sectors, including banking, finance, etc., are frequently using geospatial data for gaining an adequate competitive advantage, revenue growth, and providing specialized products to their clients. According to SMR's research, 63% of internet users in the U.S. and Western Europe said that they are much more interested in businesses using location or geographic data to give targeted discounts, provide better ongoing customer services, and speed up the checkout process. As a result, the market expansion is fuelled by the strategic benefits of location information across many industries worldwide.
  
  

Location Analytics Market: Analysis of Segmentations

The worldwide Location Analytics Market is fragmented into Component, Location Type, Deployment Mode, Applications, Vertical Analysis, & Geography.

      By Component

• Software
• Services

      By Location Type,

• Indoor
• Outdoor

      By Deployment Mode,

• Cloud
• On premises

      By Application type

• Location selection and optimization
• Risk management
• Sales and marketing optimization
• Emergency response management
• Supply chain planning and optimization
• Customer experience management
• Remote-monitoring
• Others

      By Vertical

• Education
• Retail
• Real estate
• Insurance
• Manufacturing
• Media and entertainment
• Government & defence
• Transportation and logistics
• Tourism and hospitality
• Banking and financial services
• Energy and utilities
• Healthcare
• Telecom
• IT

      By Geography

• North-America
• United States
• Mexico
• Canada
• Remaining North-America
  
  

      APAC/ Asia-Pacific

• Japan
• New Zealand
• South Korea
• Australia
• China
• Singapore
• India
• Vietnam
• Malaysia
• Remaining Asia-Pacific

      Europe Continent

• Germany
• Italy
• France
• Poland
• Russia
• Spain
• United Kingdom
• Norway
• Sweden
• Finland
• Remaining Europe
  
  

      Rest of World

• South Africa
• Kuwait
• Qatar
• Algeria
• Zimbabwe
• Saudi Arabia
• Argentina
• Brazil
• Egypt
• UAE
• Nigeria
  
  

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The Software segment held the maximum percentage share of 63.13% for the Component sector. The usage of location-intelligence software is helping all organizations worldwide to gain a significant edge in the market. A research study has revealed that more than 70% of location intelligence users have accepted this technology for the expansion of their businesses. Also, the study figured out that the no of organizations using the location analytic tools in the software sector has surged by 25.77% within a span of two years, from (2020 to 2022).

The Outdoor segment of the Location type section dominated with a 53.77% share. Organizations are using the facilities of outdoor-location analytics for monitoring their immovable assets to reduce operational costs, which, in turn, is driving the market's growth.

The Cloud segment of the Deployment Mode section had a robust 60.23% share. Cloud Computing technology using location-analytics is gaining huge popularity among IT companies worldwide, such as Oracle, IBM, etc. SMR's research discovered that Cloud-Computing using location analytics generates total revenue of around USD 300 billion worldwide. All these factors are accelerating the market's growth significantly.

For Applications, the Remote Monitoring segment held the lion's share of 21.88%. A survey conducted by SMR stated that after the adverse impacts of the COVID-19 pandemic, around 51.22% of the location intelligence users’ worldwide work remotely.

For the Vertical Analysis section, the Retail sector held the maximum share of 33.67%. To determine the potential of a particular business site, the retail sector uses location intelligence software. This is also applicable for the retail stores for the investigation of new locations. Moreover, the shopping centre developers also use this platform to research a particular site for their setup. All these facts are accelerating the growth in this sector.

For the Regional section, North-America led with a 40.11% share of the market. The government of the USA is working collaboratively with top-tech giants like Google, Facebook, etc., to enhance the usage of location analytics in different sectors like education, defence, insurance, retail, etc. SMR's research survey stated that South Carolina EMS agency has recently used two of the most advanced location intelligence software like, Maptive, and Alteryx, to tackle the emergency situations that have surged by 10% compared to the previous year. U.S, experts believe that the country will save a sum of USD (10 to 20) million in operational costs over the upcoming 5 years. All these facts are enhancing the region's growth.

Players operating in Location Analytics Market:

• IBM
• Google
• GapMaps
• LocationsCloud
• Nrby
• Oracle
• TIBCO
• Microsoft
• Precisely
• Esri
• TomTom
• IndoorAtlas
• CleverMaps
  
  

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Recent Developments

• On August 22nd, 2022, Thoma Bravo, a leading Australian software solutions company, acquired one of the leading location-intelligence organizations, NearMap, worth AUD 1.05 Billion. The main aim behind the acquisition is to enhance the facilities of location-intelligence in the Australian retail sector so that a huge revenue amount can be gained by the end of 2023 from the retail business.
  
  
• On August 8th, 2022, GeoJunxion announced that it had involved itself in the booking of a wide series of Location-Intelligence Service contracts whose combined worth stood over 1 Million euros. These brand new contracts will get converted into revenues over the upcoming 6 months & will contribute immensely to the growth of the organization's top and bottom-line retail management.
  
  
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