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(Wireless-NewsWire.Com, October 27, 2020 ) According to 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 " 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 297 market data Tables and 56 Figures spread through 313 Pages and in-depth TOC on "Location Analytics Market - Global Forecast to 2025"
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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.
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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.
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.
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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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