Location Analytics Market Analysis

Location Analytics Market Overview

The Location Analytics Market is projected to grow from USD 10.99 billion in 2024 to USD 32.01 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.30% during the forecast period (2024 - 2032). Additionally, the market size for location analytics was valued at USD 9.43 billion in 2023.

Increased smart device adoption and investment in IoT and network services since it enables smarter apps and improved network connection are the key market drivers enhancing the market growth.

 

Location Analytics Market Trends

Increasing adoption of location-based applications in a variety of industries is driving the market growth

Market CAGR for Location Analytics supplements is being driven by the rising use in various industry. Businesses rely on data to give the best customer service and improve their business profits in an environment of rising digitalization. Businesses may utilize the ability to visualize geographical data to help them manage their company plans more effectively, such as defining regional priorities, suitable pricing strategies, and peak buying periods. Furthermore, by merging geographic data with GIS, companies may use a customer's location to provide relevant product details and assistance to neighboring establishments depending on their needs. Key market competitors provide distinct solutions to help organizations use geographical data to create a competitive edge. Oracle Corporation, for example, will release Spatial Studio 21.2 in August 2021. Users may create zones using polygon map layers on the site. Users create their regions by using selection tools. The use of location intelligence solutions powered by cutting-edge technologies such as machine learning (ML), artificial intelligence (AI), and others are increasing. These sophisticated technology solutions are used in various company processes, including asset and event management, visualization and reporting, and logistics management. Banking, finance, and government leverage geospatial data to gain a competitive advantage, increase income, and provide personalized solutions and services to their customers. As a result, the strategic advantages of location intelligence across sectors drive market growth.

The widespread usage of mobile applications and improved location-sharing capabilities of mobile devices have transformed how services are provided to end users. Location intelligence and in-store location technologies improve the consumer experience by assisting them in swiftly and effectively locating the items they require. Furthermore, increased expenditures in IoT are another important element driving business development. IoT is a fast-expanding network of internet-connected devices that can collect massive amounts of data using moving and stationary sensors. The real-time analysis of this recorded data is critical for current analytics in public or private services.Thus, driving the Location Analytics market revenue.

Location Analytics Market Segment Insights

Location Analytics Component Insights

The Location Analytics Market segmentation, based on type, includes software and services. The software segment dominated the market, accounting for 73% of market revenue. Analytics solutions support social, geographic, physical, and emotional factors that help organizations boost profits. Incorporating Google Cloud and Google Maps practices into advanced location mapping and monitoring apps drives widespread usage of the geocoding API.

Location Analytics Application Insights

Based on application, the Location Analytics Market segmentation includes geocoding, reverse geocoding, thematic mapping, reporting, data integration, spatial analysis, and others. The spatial analysis category generated the most income (40%). Because of its expanded viewpoint capabilities, spatial analysis is predicted to see widespread usage. Spatial analytics enables organizations to address complicated location-related challenges while creating new perspectives for improved decision-making. 

Location Analytics Deployment Insights

Based on deployment, the Location Analytics Market segmentation includes on-premises and hosted. The on-premises segment dominated the market. Due to security concerns, businesses are implementing on-premises to integrate and implement analytical solutions. On-premises deployment is expected to rise rapidly since it gives customers complete control over their apps,  data, and infrastructure while cutting operating costs and boosting security.

Figure 2: Location Analytics Market, by Deployment, 2022 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Location Analytics End-users Insights

Based on end users, the Location Analytics Market segmentation includes BFSI, IT & telecommunications, retail, healthcare, government, transportation, energy & utilities, government, and others. The transportation category generated the most income. Location intelligence aids in comprehending the distance and travel times between destinations using exact geographic coordinates and the existing routable road network, which has boosted its use in the transportation and logistics sector. It also provides several routes to the destination with travel duration and real-time traffic analysis. It also offers road closures and real daily site closures. Store sales predictions, drive time & distance profiling, network optimization & scenario modeling, site selection planning, franchise area evaluation & overlap analysis, sales & market share analysis, market size & demand estimation by location/product, territory optimization & planning, and customer segmentation & profiling are all solved by Location Intelligence.

Location Analytics Regional Insights

By Region, the analysis provides market insights into Asia-Pacific, Europe, North America,  and the Rest of the World. The North American Location Analytics market area will dominate this market; the rising need 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 implement analytics tools in March 2020. This has aided organizations in combating virus propagation by using location data acquired from individuals, including tracking people's social distancing behavior.

Furthermore, the major countries studied in the market report are The U.S., German, France, the UK, Canada, Italy, Spain, China,  India, Australia, Japan, South Korea, and Brazil.

Figure 3: LOCATION ANALYTICS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Location Analytics market accounts for the second-largest market share. The European Space Agency's (ESA) programs, such as The Copernicus Programme, seek to give customers an easy-to-use geographic information system environment. Furthermore, the growing relevance of geospatial data in infrastructure management and planning will fuel growth. Further, the German Location Analytics market held the largest market share, and The location analytics market in the United Kingdom was the fastest growing in the European area.

The Asia-Pacific Location Analytics Market is expected to grow at the fastest CAGR from 2023 to 2032. This is attributable to an increase in the number of smartphone users, a number of service providers, advancements in networking technology, and an increase in the popularity of social media. Moreover, China’s Location Analytics market held the largest market share, and The Indian Location Analytics market was the Asia-Pacific region's fastest-growing market.

Location Analytics Key Market Players & Competitive Insights

Leading market companies spend extensively on research and development to extend their product lines, which will help the Location Analytics market grow even more. Market participants also engage in several strategic initiatives to grow their worldwide presence. Significant market developments include new product launches, contractual agreements, mergers and acquisitions, increased investments, and cooperation with other organizations. The Location Analytics industry must provide cost-effective products to develop and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is one of the primary business methods manufacturers use worldwide Location Analytics to assist customers and expand the market sector. The Location Analytics industry has provided some of the most important medical benefits in recent years. Esri, Wireless Logi, Oracle and other major competitors in the Location Analytics market seek to enhance market demand by investing in research and development activities.

Esri is a worldwide geographic information system (GIS) software firm based in the United States. It is well known for its ArcGIS mapping software. Esri, founded in 1969 as the Environmental Systems Research Institute as a land-use consulting organization, now has 49 locations worldwide, including 11 research and development centers in Europe, the United States,  the Middle East and Africa, and Asia Pacific. There are ten regional offices in the United States and over 3,000 partners worldwide, with users in every nation and over a million active users in 350,000 organizations. In May 2021, Esri, a global leader in location technology, has collaborated with Wejo, a pioneer in connected cars and data, to offer a collaborative solution that augments Esri's GIS technology by incorporating Wejo's actual road data. With the release of a collaborative solution, users will be better positioned to supplement real-time traffic and mobility data acquired from connected vehicles..

Every 18 seconds, a new product, gadget, or asset is linked to our cellular platform. And now, they have over 10 million active IoT subscribers in 165 countries, with collaborative relationships that enable access to over 750 mobile networks worldwide. Their purpose-built IoT connection systems link (both worldwide and locally) across numerous mobile networks and technologies, providing clients with a unified management interface for their assets. It offers the highest connection, control, and security level for IoT and M2M applications. In July 2021, To increase its footprint in the European market, Wireless Logic purchased Things Mobile, an IoT connection provider. Things Mobile provides global customers with connection solutions for various IoT applications.

Key Companies in the Location Analytics market include

• TIBCO Software Inc.


• Pitney Bowes


• ESRI


• Oracle Corporation


• SAP SE


• SAS Institute Inc


• Galigeo


• Cisco Systems Inc.


• Alteryx Inc.


• IBM


• Microsoft Corporation

Location Analytics Industry Developments

January 2024: Uber has selected HERE Technologies as a global location provider to enhance mapping and geolocation functionalities, improving pickup and drop-off experiences. HERE will offer precise mapping tools for rideshare and food deliveries, ensuring safer and more accurate locations globally. This collaboration aims to provide Uber users with a fast and intuitive experience, leveraging fresh and accurate data to optimize their platform.

December 2022: HERE Technologies' ranks top in Omdia's 2023 Location Platform Index, emphasizing its platform's completeness, flexibility, and security. HERE's innovative mapmaking techniques, including its use of artificial intelligence (AI) in UniMap, are highlighted. Collaborations with automakers for electric vehicle (EV) routing, automated driving, and road safety initiatives are also featured. Overall, the release showcases HERE's leadership and innovation in the location data and technology sector.

Location Analytics Market Segmentation

Location Analytics Component Outlook

• Software


• Services

Location Analytics Application Outlook

• Geocoding


• Reverse Geocoding


• Thematic Mapping


• Reporting


• Data Integration


• Spatial Analysis


• Others

Location Analytics Deployment Outlook

• On-premises


• Hosted

Location Analytics End-users Outlook

• BFSI


• IT & Telecommunications


• Retail


• Healthcare


• Government


• Transportation


• Energy & Utilities


• Government


• Others

Location Analytics Regional Outlook

• 
  

  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  

  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  

  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  

  Rest of the World

  
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America