The global location analytics market was valued USD 9.9 Billion In 2019 is projected to grow at CAGR of 13.7% over the period of 2020 to 2026
However the current situation of Covid19 has disrupt the market immensely and forced everyone to follow certain norms like social distancing, suspended traveling and Work from home has now became the new normal. With the situation like this the use of location analytics has become very much important. Location analytics has become a tool to overcome problems like hospitals at peak capacity with shortage of ventilators, key sanitary materials and masks, as it provides insightful information for better optimization and planning of resources. Location analytics helped healthcare and government agency in mapping fatalities, active Covid19 cases and recovered cases. Location analytics solution has been proved helpful for many businesses and it is expected to see a rapid growth over the forecast period.
For more details, visit: Global Location Analytics Market By Application(Risk Management, Remote Monitoring others), By Services (Consulting, System Integration), By End User (Healthcare, Retail, Others), By Region–Forecast & Opportunities to 2026
Rising amount of Spatial Data and analytics tool is a driving factor of location analytics market. This sector is very important for organizations to understand current business trends and the challenges across the globe. Location analytics solutions assist all the organization across the globe in processing a huge amount of spatial data. It also provides companies, a real-time analysis about the changing customer requirements, current business trends, and regulations.
The location analytics has been segmented into various applications such as asset management, Workforce management, customer management, Sales & Marketing optimization, risk management and facility management. The sales & marketing optimization segment has been accounted for the largest share in the market. In year 2019, this sector accounted for XX% in terms of revenue which largest of all.
The system integration segment is accounted for the largest share in the market in year 2019. It is accounted for XX% of the total market share. Nowadays due to lack of integration knowledge many companies seek outside help from integrators to integrate location intelligence systems with their products, assets and business processes so that they can collect all the necessary information which give them fruitful insights.
In the year 2019, the transportation vertical is accounted for 19% market share. Transportation industry is expanding due to rapid increase in population, vehicle and urbanization along with depletion of land resources. Transportation professionals across the globe have understood this problem and they have implemented the use of Location Intelligence to address these challenges effectively.
In 2019, North America accounted for the largest market share across the globe. North America has the presence of key companies such as Apple, Google, Qualcomm, Bosch and GE. In 2018, according to GSMA, the number of mobile Internet user was 282 million in North America in 2018 and this number is expected to reach 362 million by the year 2027.
This is a fast growing sector which makes its market very competitive. This sector has experienced presence of key players such as Google, Wipro, Cisco, Qualcomm, SAP, ESRI, IBM, Oracle, Microsoft, Purple, Tomtom, Hexagon, Zebra Technologies, Maplarge, Here Technologies, Tibco Software and Qualcomm Technologies etc.
- What are the expected industry trends over the next three to five years?
- Which of the location analytics application is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?