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Location Analytics Market Report

RA00349

Location Analytics Market, By Service (Consulting, System Integration, Others), Application (Workforce Management, Asset Management, Facility Management, Risk Management, Remote Monitoring, Sales & Marketing Optimization, Customer management, Others), Vertical (Retail, Consumer Goods, Government & Defense, Manufacturing and Industrial, Transportation & Logistics, BFSI, IT & Telecom, Utilities & Energy, Media & Entertainment), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

RA00349

Pages: NA

Jul 2020

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Impact of covid-19 on Location Analytics Market

Location Analytics Market Analysis:

Location analytics plays a vital role in obtaining other important insights and data from a business by integrating a layer of geographic location data. Generally, location analytics is used for tracking transactional information including logistics, sales, and supply chains. The tracking of such data helps in obtaining detailed insights related to a business for contextualizing specific data.

More significantly, this technique allows business owners to envision the flow of products, sales, and goods with depth and distance. Usually, most of the data produced across different industrial vertical already
contain at least one geographic element, for instance, a product’s staring point, shipping route, point of sale, etc.

By integrating location analytics to prevailing business intelligence, businesses can benefit from the obtained location centric data to develop new strategies and offer different points of comparison. For businesses that function in numerous sites or operate across the world, comprehending the geographical aspect of their business is decisive.  

Growing usage of location analytics to cut down the operational costs of business is the key factor driving the market growth

Location analytics helps in analyzing the performance and spending of a business. It not only helps a business in obtaining insights regarding expenses on marketing, salaries, and rent but also identifies areas of deficit performance or inefficiency which might be incurring additional cost. Furthermore, geographical maps make it easier to detect relationships and patterns between the data on national, regional, and local basis and all the way down to specific stores for identifying previously unknown sources or triggers of unnecessary cost.

Moreover, location analytics helps in reducing costs and mitigating threats in supply chain management. Undoubtedly, one of the most renowned applications are around the optimal placement of services and assets, for instance, transfer services, warehouses and distribution centers, inventory, where businesses send trucks, planes or railcars, and right on down to retail sites. Additionally, location analytics helps in routing or rerouting in real time to track traffic patterns.

Lack of awareness is anticipated to hamper the market growth during the forecast period

The lack of awareness among the companies regarding location analytics as well as lack of well-trained professionals is anticipated to hinder the market growth. In addition, the exploitation of location data, unintentional or intentional, can lead to consequential issues for both the user as well as the organizations. Moreover, the stringent government regulations will hamper the market growth in the near future.

Rapid growth in the adoption of social media customer engagement programs will create better growth opportunities in the future 

Location analytics gives better opportunities to understand the marketing & sales of the organization and apply appropriate strategies. It not only provides alternative communication channels, but also helps in attracting new customers along with the existing customers. Location analytics also helps the organization by allowing them to interact with the customers and getting the direct feedback. A huge amount of data is being generated with the help of social media platforms. For example, Google queries alone record for 3.5 billion searches on a daily basis. Facebook's Hive data warehouse contains 400 petabytes of information, and four petabytes of extra information are being produced every day. Thus, social media platforms are anticipated to create better growth opportunities for the location analytics market in the coming years.

Location Analytics Market, by Services:

Receiver ICs segment will be the most lucrative till 2027

The system integration segment will have a significant share in the global market, and it is anticipated to register a noteworthy revenue during the forecast period. The services segment aids the organization by helping them in understanding the rapid changes in the business scenarios, market trends, services troubles and customer insights. Location analytics services also help the organizations in developing corporate branding and marketing campaigns. The above-mentioned factors help the organizations to understand consumer behaviors and plan the strategies appropriately; thus, the services segment is projected to grow at a significant CAGR in the forecast period. 

Location Analytics Market, by Application:

Sales and marketing optimization segment to grow exponentially, over the forecast period

The sales and marketing optimization application sub-segment held the largest market share in the 2019. This is owing to the various advantages provided by these applications such as valuation of consumer behavior, forecast sales and spending patterns, which allows the organizations to run the business on a profitable account. 

Additionally, the location data and other information that has been gathered from the smart devices, social media, and various sensors can also be used in understanding the consumer patterns and trends. It can be utilized by the organizations for planning the marketing campaigns and improve the product reach among the consumers.  Thus, location analytics helps the organizations in analyzing the consumers data and improving the product portfolio and reach of their respective products.

Location Analytics Market, by Vertical:

Retail segment is anticipated to register the maximum growth

Retail is projected to grow at a highest CAGR during the projected timeframe. In the recent years the retailers have started are streamlining operations of their store’s satisfactory customer services. Additionally, retailers are improvising the operational activities by getting into online business for expanding the customer reach and revenue. Furthermore, it helps the retailers in understanding the consumers behavior and the preferences of buying personal as well as commercial products. 

Location Analytics Market, by Region:

Asia Pacific region to hold the largest market share, in the forecast period

Asia Pacific region is anticipated to hold the largest market share in the Location Analytics during the forecast period. This is majorly due to the rapid growth in the number of smart phone users along with the rapid development taking place in the networking technologies across the region, additionally the number of people active on social media websites. Small and medium business players are introducing various products as well as services in order to acquire the market share in the respective fields. These factors are projected to drive the Asia-Pacific market growth in the forecasted period. 

North America region held the largest market share

North America held the largest market share in the year 2019 and is anticipated to continue its dominance over the forecast period. This growth is majorly attributed to the presence of various key players in the location analytics market in North America such as, Google, Inc., General Electric and others.  

To explore more about Location Analytics Market, get in touch with our analysts here.

https://www.researchdive.com/connect-to-analyst/349

Key Participants in the Global Location Analytics Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Key Participants in the Global Location Analytics Market

Some of the global location analytics market key players are Pitney Bowes Inc., Qualcomm Technologies, Apple Inc., Bosch Software Innovations GmbH, Wireless Logic, Google, Inc. and Trimble Inc. The location analytics market players are emphasizing more on advanced product development and strategic alliances. These are the multiple strategies followed by the emerging as well as established organizations. To emphasize more on the competitor analysis of market players, the Porter’s five force model is explained in the report.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2019

  Forecast timeline for Market Projection

  2020-2027

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Services

  • Consulting
  • System Integration
  • Others

  Segmentation by Application

  • Work Force Management
  • Asset Management
  • Facility Management
  • Risk Management
  • Remote Monitoring
  • Sales & marketing Optimization
  • Customer Management
  • Others

  Segmentation by Vertical

  • Retail and Consumer Goods
  • Government & Defense
  • Manufacturing & Industrial
  • Transportation & Logistics
  • BFSI
  • IT & Telecom
  • Utilities & Energy
  • Media & Entertainment

  Key Countries Covered

U.S., Canada, Germany, France, Spain,

Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia

  Key Companies Profiled

  • Pitney Bowes Inc.
  • Apple Inc.
  • Qualcomm Technologies
  • Wireless Logic
  • HERE Technologies
  • Bosch Software Innovations GmbH
  • Trimble Inc.
  • Google, Inc.
  • IBM
  • Zebra Technologies

Source: Research Dive Analysis


FREQUENTLY ASKED QUESTIONS?
 

A. IBM, Google, Inc. and Apple Inc. are the leading companies in the Location Analytics market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Technological advancements, product development, along with joint ventures, are the key strategies opted by the operating companies in this market.

A. IBM and Google, Inc. are investing more in R&D practices.

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