This research report categorizes the location analytics market based on Offering, Location Type, Applications, Vertical, and Region.

Northbrook, IL 60062 -- (SBWire) -- 09/07/2023 --The global Location Analytics Market size is estimated to grow from USD 20.6 billion in 2023 to USD 38.5 billion by 2028, at a CAGR of 13.4% during the forecast period, according to research report by MarketsandMarkets™

Location analytics is a global game-changer for businesses, utilizing geospatial data to provide insights for strategic decisions and operational excellence. It optimizes market expansion, customer engagement, and supply chain efficiency. With location-based insights, companies proactively manage risks and enhance urban planning. In healthcare, it refines patient care and disease tracking. For retailers, it drives personalized strategies, while emergency responders benefit from optimized disaster responses. Overall, location analytics empowers businesses globally, transforming data into actionable insights for informed decision-making and superior performance.

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353 - Tables
58 - Figures
350 – Pages

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Healthcare & Lifesciences to account for higher CAGR during the forecast period.

Location analytics is swiftly gaining ground in the healthcare and life sciences sector. By amalgamating geographic data with patient information, it offers insights crucial for optimized healthcare delivery, resource allocation, and disease tracking. From enhancing patient outcomes through personalized treatment plans to streamlining supply chain management for pharmaceuticals, the sector benefits immensely. Real-time geospatial analysis empowers efficient emergency response, epidemiological studies, and healthcare infrastructure planning. However, concerns over data privacy and interoperability challenges must be diligently addressed to fully harness the potential of location analytics, ensuring it becomes an indispensable tool for evidence-based decision-making across the healthcare and life sciences landscape.

Services Segment to account for higher CAGR during the forecast period.

The market for location analytics is bifurcated based on offering solutions and services. The CAGR of services is estimated to be highest during the forecast period. Professional and managed services have a significant impact on the location analytics market by offering a range of valuable services to businesses. Further, the professional services are bifurcated into consulting, training, support and maintenance, and deployment and integration. As business recognition of location analytics' value grows, consulting services experience heightened demand, pivotal in optimizing location analytics solutions.

Asia Pacific to exhibit the highest CAGR during the forecast period.

The CAGR of Asia Pacific is estimated to be highest during the forecast period. Location analytics is rapidly growing in the Asia Pacific, which includes China, India, Japan, South Korea, ASEAN, and ANZ (Australia and New Zealand). Location analytics is experiencing a remarkable surge in the Asia Pacific region. With its diverse geography and rapidly evolving technological landscape, this region is embracing location-based insights to drive innovation and informed decision-making. Organizations across sectors are recognizing the strategic advantage of harnessing geospatial data to gain deeper insights into consumer behaviors, optimize supply chains, and enhance operational efficiency. The region's dynamic business environment, coupled with the proliferation of mobile devices and IoT technologies, fuels the growth of location-based services. Governments and enterprises are investing in infrastructure to support the collection and analysis of geospatial data, fostering a vibrant ecosystem for location analytics startups and established players alike.

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Major vendors in the global location analytics market are 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), and LocationsCloud (US).

Key Dynamic Factors For Location Analytics Market:

Geospatial Technology Innovations: The location analytics industry is significantly impacted by developments in geographic information systems (GIS), remote sensing, and location-based technologies like GPS and IoT. These developments make it possible to collect, analyse, and visualise data with greater accuracy.

Increasing Data Availability: A tremendous influx of geographic data has been caused by the growth of data sources, including satellite imaging, social media, mobile devices, and sensors. This wealth of data supports the development of location analytics and enables businesses to learn more about consumer behaviour, market trends, and operational efficiency.

Rise of Real-Time Analytics: Businesses are realising the value of real-time location analytics. Organisations can use it to track assets, keep an eye on traffic, and react to events as they happen.

Industry-Specific Applications: A variety of industries, including retail, logistics, healthcare, urban planning, and more, are finding uses for location analytics. Customised answers to industry-specific problems are expanding the market.

Integration with Business Intelligence (BI) and Analytics Platforms: Location analytics are increasingly being integrated with conventional BI and analytics solutions. Businesses may now incorporate geographical insights into their overall data-driven decision-making processes thanks to this integration.

Privacy and Security Issues: As location data gains value, privacy and security issues are becoming more and more of a worry. Location data collection, use, and sharing are being impacted by laws like the GDPR and CCPA. To achieve compliance, businesses must negotiate various restrictions.

Integration of AI and Machine Learning: To automate data processing, find hidden patterns, and make predictions based on spatial data, AI and Machine Learning are being integrated into location analytics solutions.

Cloud-Based Solutions: Due to their scalability and accessibility, cloud-based location analytics tools are growing in popularity. Organisations find it simpler to handle and analyse geographic data thanks to cloud technologies.

Smart Cities and IoT: The popularity of location analytics is being fueled by the creation of smart cities and the expansion of the Internet of Things (IoT). Cities are utilising location information to improve public services, transportation, and infrastructure.

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Competitive and Segmentation Analysis:

Due to the growing recognition of the usefulness of spatial data insights by businesses across many industries, the location analytics industry has grown more competitive. Leading companies in this market include rising startups and specialised geospatial solution providers, as well as well-established firms like Esri, IBM Corporation, Google LLC, and SAS Institute. To stay competitive, these businesses regularly innovate their products. They are concentrating on creating strong platforms for location analytics that easily interact with already-in-use corporate intelligence and analytics programmes. Furthermore, partnerships and collaborations with data providers, such as IoT sensor networks and providers of satellite imagery, are typical techniques to improve their data sources and capabilities.

Location analytics systems can be set up either on-premises or in the cloud. Because of their accessibility and scalability, cloud-based solutions are becoming more and more popular.

End-User Industry: Every industry has different requirements for location analytics. Retail, transportation and logistics, healthcare, real estate, government, and telecommunications are common industries that all need specialised solutions to deal with particular problems.

Geographical Region: Regional differences exist in market dynamics and adoption rates. Key markets historically have been North America and Europe, although Asia-Pacific is currently expanding quickly as a result of urbanisation and smart city projects.

Analytics Type: Location analytics includes a range of categories, such as geospatial, real-time, and predictive analytics. The particular use case and sector determine the analytics type to be used.

Organisational Size: Both big businesses and small and medium-sized businesses (SMEs) use location analytics systems. While large businesses frequently need sophisticated, customised solutions, SMEs may choose to use more economical cloud-based alternatives.

Location analytics has a variety of applications, including supply chain optimisation, asset tracking, and urban planning. For products to succeed on the market, they must be customised to certain use cases.

Technology Stack: The technology stack and integration capabilities of location analytics solutions can vary. Others may place more importance on data visualisation and user-friendly interfaces while some may concentrate on integrating AI and machine learning.

Data Sources: The market segmentation can be affected by the choice of data sources, including satellite images, GPS, social media, and IoT sensors.

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