Location analytics use both real time as well as historical data across the geographical locations. The increasing demand from asset management, predictive analytics, increasing usage of various analytical tools are boosting the growth of the location analytics market. Also, growth in the healthcare and energy sector is also boosting the market growth. Location analytics include mapping visualization, spatial analytics and geographic information enhancement.
Location Analytics Market Size has an expected growth of up to 16.5% CAGR for the forecast period of 2030.
However, privacy issues and security concerns are hampering the growth of the market. Also, various firms are investing huge amounts for cloud based solutions. For instance, Esri and Cisco System have come up various maps for spatial analytics and also provides geographical information for business intelligence.
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The key players in the global location analytics market include TIBCO Software Inc. (U.S.), ESRI (U.S.), Pitney Bowes (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SAS Institute Inc. (U.S.), Galigeo (France), Cisco Systems, Inc. (U.S.), Alteryx, Inc. (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.) among others.
Location Analytics Market Segmentation
According to Market Research Future, market has been segmented into component, software, deployment, end-users and region.
- Reverse Geocoding
- Thematic Mapping
- Data Integration
- Spatial analysis
- IT & Telecommunications
- Energy & Utilities
Geocoding accounted for the largest market share out of all the softwares. The reason attributed to the increasing usage by educational institutes, restaurants, hotel to make appropriate decisions.
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The global location analytics market is expected to grow significantly. The market is highly application basis. Retail segment of location analytics market globally drives the market. The market is expected to have higher growth rate as compared to the previous years.
North-America accounted for the largest market share because of the technological advancements, increasing demand by various sectors, large investments by developers for cloud based solutions.
However, Asia-Pacific region is expected to grow over the forecast period, 2016-2022. The reason attributed to the rapid digital transformation in countries such as China and also improvement of broadband infrastructure.
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