Global Location Analytics Market Size, Share, Growth Analysis, By Component(Software, Services), By Location Type(Indoor, Outdoor), By Deployment Mode(On-premise, Cloud), By Application(Remote Monitoring, Sales & Marketing Optimization), By Industry Vertical(BFSI, Retail & Consumer Goods) - Industry Forecast 2022-2028

The global Location Analytics market is segmented based on component, location type, deployment mode, application, industry vertical, and region. Based on component, the Location Analytics market is segmented into Software, Services. Based on location type, the Location Analytics market is segmented into Indoor, Outdoor. Based on deployment mode, the Location Analytics market is segmented into On-premise, Cloud. Based on application, the Location Analytics market is segmented into Remote Monitoring, Sales & Marketing Optimization, Asset Management, Risk Management, Facility Management, Others. Based on industry vertical, the Location Analytics market is segmented into BFSI, Retail & Consumer Goods, Healthcare, Hospitality, Transport & Logistic, Government, IT & Telecom, Media and entertainment, Others. Based on region, the Location Analytics market is categorized into North America, Europe, Asia-Pacific, and MEA.

Analysis by Location Type

In 2021, the outdoor segmented dominated the market and is anticipated to maintain its dominance throughout the forecast period. Outdoor analytics solutions help businesses to find prospective clients based on online customer behavior, shopping experiences, and visualization of location data. Mapping and geographical data are being included into the services of business intelligence and analytics software companies. Understanding customer behavior will help businesses with geo-marketing and advertisement, asset management, and business planning.

Furthermore, the indoor market is expected to develop at the fastest CAGR over the forecast period. Indoor analytics solutions allow corporations and government agencies to display data received from indoor devices such as cellphones and Wi-Fi networks in order to assist businesses in making business choices. Moreover, indoor location analytics industry solutions assist firms with real-time mapping, indoor location monitoring, and asset tracking.

North America is predicted to dominate the growth of the global location analytics market share. The rising demand for position intelligence and geospatial analytics solutions in industries such as government, defense, retail, and others is fueling the expansion. For example, the United States Government cooperated with Google LLC, Meta Platforms, Inc. (Facebook), and other technology providers and health professionals to deploy analytics tools in March 2020. This has aided organizations in combating viral spread by exploiting location data acquired from individuals, including tracking people's social distancing behavior.

Asia Pacific is expected to register the fastest CAGR over the forecast period. The growth has been driven by a significant increase in the adoption of location intelligence solutions by governments in the area for public safety concerns. For example, Quadrant.io, a major location intelligence provider, formed the Asia Pacific Data Alliance (APDA) in June 2020, which includes over 100 consultancy, geospatial, and data analytics firms. The program enabled prominent corporations, governments, and researchers to have access to mobile location data in order to limit the risks associated with virus propagation.

Driver

• Rising use of spatial data and analytical tools across multiple verticals

The availability of massive amounts of fragmented location-based data across all sectors has caused issues with data correlation and analysis using standard BI tools. Spatial data and analysis are thought to be critical for businesses to comprehend shifting business trends and difficulties across regions. This information is propelling the market forward. The spatial data assists clients in resolving space assignment-related problems, as well as providing data for audits, design reviews, and other space-related initiatives. These characteristics boost the utilization of geographical data in a variety of industries. Location analytics solutions help businesses process massive amounts of geographical data and give real-time analysis of changing customer needs, business trends, and regulations and compliances. For example, in the retail vertical, geographical data assists businesses in uncovering the relationship between stores, items, wants, preferences, and consumer types across various characteristics and metrics. These characteristics and metrics have an impact on overall sales performance. Tracking stock levels also allows merchants to efficiently manage warehouse deliveries to ensure optimal store stocking.

Restraint

• Legal considerations with geoprivacy and sensitive data

The deliberate or unintentional abuse of location data can have substantial legal ramifications for both corporations and customers. When location data is disclosed in conjunction with other personal information, privacy problems arise. Consumer privacy concerns are important in the processing of location data since several regulatory restrictions can limit access to location data without the user's agreement. Individuals concerned about the security of their location-based data can decline to allow some geospatial analytics tools to obtain essential location data. Government rules and regulations oversee data processing, location sharing, the use of location-based information, and data storage. The European Union's (EU) General Data Protection Regulation (GDPR) is the EU's first concerted effort to protect citizens' Personally Identifiable Information (PII). Companies that collect data must follow regional legislation and seek authorization from each consumer. Organizations' access to consumer location data is constrained, limiting their usage of geospatial data analytics solutions. As a result, individual concerns regarding geo privacy and sensitive data are increasing, limiting the growth of the worldwide location analytics market in the coming years.

The Location Analytics Market is highly competitive due to the numerous vendors offering analytics solutions to both domestic and international markets. The market appears to be moderately fragmented, with major vendors pursuing strategies such as mergers and acquisitions, strategic partnerships, and others to expand their reach and remain competitive in the market.

Top Players Company Profiles

• IBM (US)
• Google (US)
• Oracle (US)
• Microsoft (US)
• Esri (US)
• SAS (US)
• Precisely (US)
• SAP (Germany)
• CISCO (US)
• Hexagon (Sweden)
• Zebra Technologies (US)
• Alteryx (US)
• HERE (US)
• Purple (UK)
• Galigeo (France)
• Geomoby (Western Australia)
• Quppa (Finland)
• CleverMaps (Czech Republic)
• IndoorAtlas (Finland)
• Lepton Software (India)
• CARTO(US)
• TIBCO(US)

Recent Development

• In October 2021, Google improved Google maps SDKs for Android were updated to provide an improved user experience, such as assisting truckers in making deliveries or retailers in visually confirming an order's shipping address.
• In April 2021, Quuppa, a location intelligence company, collaborated with Actility, an LPWAN connectivity solution provider. Quuppa and Actility want to use Abeeway's ATEX certified tags in their collaboration to provide users with exact interior and outdoor location services.
• In January 2021, Esri launched the ArcGIS Platform. It is a geospatial platform as a service for consumers and developers that want to include location capabilities into their applications, business processes, and products. ArcGIS Platform gives developers access to Esri's efficient position services via their preferred web frameworks and APIs.

• AI and machine learning (ML) technologies have grown in popularity in recent years. AI and ML-enabled location data is used to generate pattern recognition and position signatures from the data it receives. Furthermore, the technologies are employed to create high-definition (HD) maps and practical simulators to view data. To gain a competitive advantage, major corporations are proactively investing in AI and machine intelligence. For instance, in October 2021, Google LLC improved its Google maps SDKs for Android to improve user experience, such as supporting drivers in making deliveries and assisting stores in visually checking an order's delivery address.
• Drone and satellite imagery technology has been widely employed in recent years, allowing all data to be processed using conventional computational methods. AI and ML technology save a significant amount of time and energy by performing picture recognition and object identification operations. As AI and machine learning develop, geospatial analytics service providers will bring innovative solutions to users and deploy them even more effectively. With improvements in AI and ML, the industry is expected to increase rapidly.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.

According to our global location analytics market analysis, the increased emphasis of organizations on spatial environment variables such as infrastructure, sociocultural, and topographic characteristics is enabling geographic predictive analytics to flourish in the market. For effective analysis, geospatial data analytics makes use of unique IDs and geographic coordinates. By establishing data visualization and spatial models, this gives accurate trend predictions and modeling. The prediction of maintenance needs, production deadlines, and infrastructure assessment are driving market need for spatial predictive analytics.