The location analytics market size is expected to reach USD 29.87 billion by 2026 according to a new study by Polaris Market Research. The report “Location Analytics Market Share, Size, Trends, Industry Analysis Report By Component (Solution, Services); Solution (Geocoding And Reverse Geocoding, Data Integration And ETL, Reporting And Visualization, Thematic Mapping And Spatial Analysis); By Location Type (Indoor, Outdoor); By Application (Risk Management, Emergency Response Management, Customer Experience Management, Remote Monitoring, Supply Chain Planning And Optimization, Sales And Marketing Optimization, Predictive Assets Management, Inventory Management); By Verticals (Retail, Manufacturing, Govt & Defense, Media & Entertainment, Transportation, Energy & Utilities); By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

In business sector, almost everything exists at a particular location and at a specific time. It could be things such as products, raw materials, facilities, employees, customers, agents, or events. Businesses can make more well-versed decisions by understanding how these components relate to one another through location analytics. This can improve both efficiency and effectiveness of the businesses. Furthermore, location analytics helps in targeting and understanding customers and also helps in optimizing business processes.

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However, factors such as concerns with data privacy and legal worries, high initial cost of deployment, and deficiency of uniform regulatory norms, are expected to hinder the growth of market during the forecast period. Furthermore, increasing security concerns, lack of technical expertise and awareness, and poor connectivity and data integration also restraints the market growth.

North America and Europe take hold of more than half of overall market. As the retail industry in these regions is experiencing a significant boom, and penetration of smartphones and other advanced tools is high, there is rapid growth in adoption of analytical business intelligence and geographic information systems technology. Likewise, increasing focus on customer needs and customer satisfaction also plays a major role in development of this market. Furthermore, large number of individual customers or enterprises in Europe extensively use location-based mapping services, which has made this region a R&D hub for the market.

In European countries, location analytics is largely used to conduct marketing campaigns and customer management with an aim of business expansion. Furthermore, growing smartphone industry, and increasing adoption of GPS tracking systems has also enhanced the growth of location analytics in European countries. However, based on growing number of smartphone and social media users, service providers and enhancement of networking technologies, Asia-Pacific is expected to witness a fastest growth in the global market during the forecast period. Huge population base, growing internet penetration has made this region a popular area of expansion for established as well as emerging companies. This is largely contributing to the growth of the market in Asia-Pacific region.

The key players in the market include SAS Institute, Esri, Oracle, Pitney Bowes, Microsoft, Galigeo, Cisco Systems, IBM, Purple, GeoMoby, Alteryx, Inc., CleverAnalytics, IndoorAtlas, Lepton Software, and Quuppa among others.

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Polaris Market research has segmented the Location Analytics market report on the basis of level, application, material type, product type, product style and region

Location Analytics Component Outlook (Revenue, USD Million, 2017 – 2026)

Solution
Services
Location Analytics Solution Outlook (Revenue, USD Million, 2017 – 2026)

Geocoding and Reverse Geocoding
Data Integration and ETL
Reporting and Visualization
Thematic Mapping and Spatial Analysis
Others
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