Authored By: Sarah
11 Jul 2024

 Location Analytics Tools Market Size to grow by USD 17.79 billion between 2024-2028

According to a research report “ Location Analytics Tools Market” by End-user (Transportation, Retail, BFSI, Media and entertainment, Telecom and others) Type (Outdoor location, Indoor location) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 17.79 billion, at a CAGR of  16.93% during the forecast period. In today's digital age, enterprises in service-intensive sectors such as retail, healthcare, telecommunications, and finance, are witnessing significant growth in their potential customer base due to increasing internet and smartphone penetration. With expanding business operations, data has become a crucial factor in driving strategic decision-making and maintaining a competitive edge in the market. Enterprises amass data from various business units and devise robust data strategies to gain valuable insights through data analytics. These insights enable enterprises to formulate effective business strategies, innovate new products, enhance customer experiences, and devise risk mitigation plans. By leveraging location analytics tools, organizations can gain spatial insights from their data, leading to improved operational efficiency and informed decision-making.

Browse market data tables, figures, and in-depth TOC on “Location Analytics Tools Market” by End-user (Transportation, Retail, BFSI, Media and entertainment, Telecom and others) Type (Outdoor location, Indoor location) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By End-user, the Transportation segment is projected to dominate the market size in 2024

The location analytics tools market encompasses various types of solutions, with outdoor analytics emerging as a significant and growing segment. This sector caters to diverse outdoor environments, offering businesses and organizations valuable insights into consumer behavior, foot traffic, and engagement. Outdoor location analytics can be applied in settings such as public parks, recreational areas, and outdoor events. One of the most notable advantages of this segment is its ability to enhance the productivity of outdoor retail locations by providing businesses with actionable data on consumer patterns and trends.

By Type, Outdoor location  segment is expected to hold the largest market size for the year 2024

In the supply chain process, the transportation sector has emerged as a pivotal focus area for manufacturers, distributors, and logistics service providers. However, transportation companies encounter challenges in managing the escalating demand for material transportation, minimizing transportation expenses, and fulfilling service-level agreements with clients. To address these issues, transportation firms are integrating location analytics tools into their operations. These tools enable the analysis of vehicle operations and optimization of route planning by processing data on road conditions, weather updates, urban infrastructure, and route permissions. The data is visualized on an interactive map to determine the most efficient route in real-time and maintain low operating costs.

North America is forecasted to hold the largest market size by region in 2024

The North American location analytics tools market is projected to experience continuous expansion throughout the forecast period, fueled primarily by the increasing adoption of location analytics by businesses and the implementation of geo-targeted promotions. Key players in this region, including ESRI, Oracle, IBM, Salesforce, and SAS Institute, are driving market growth with their advanced offerings, such as ESRI's location intelligence tools integrated with AI for predictive modeling of location data. Furthermore, the region's enterprises, which are at the forefront of adopting advanced technologies like AI, analytics, and blockchain, are expected to further boost market growth. Other vendors in the region are also expanding their product portfolios, integrating advanced technologies like AI and cloud computing to cater to the evolving needs of businesses.

The Location Analytics Tools Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alphabet Inc.
  • Alteryx Inc.
  • CartoDB Inc.
  • Cisco Systems Inc.
  • Esri Global Inc.
  • Foursquare Labs Inc.
  • Gravy Analytics Inc.
  • InMarket Media LLC
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • Pitney Bowes Inc.
  • Precisely
  • Salesforce Inc.
  • SAS Institute Inc.
  • TomTom NV
  • Galigeo SAS
  • GeoMoby Pty. Ltd.
  • Kinetica DB Inc.
  • Infillion
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

The Location Analytics Tools market is witnessing significant growth due to the increasing demand for data-driven insights from various industries. Thematic mapping, Geocoding, and reverse Geocoding are essential location analytics tools that help businesses make sense of their customer data, operational data, and geographic data. These tools use ML technologies, Wi-Fi location analytics, Big Data, Artificial Intelligence (AI), Internet of Things (IoT), and Cloud computing to provide real-time location data and analysis. Retail centers and medical equipment manufacturers are some of the major industries leveraging location analytics tools to improve efficiency and gain valuable insights into customer behavior. Satellite-based GPS and mobile positioning are popular technologies used for location analytics, providing accurate and reliable data for data visualization and decision-making. Businesses face various challenges in implementing location analytics tools, including data privacy concerns and the need for seamless integration with existing systems. Despite these challenges, the benefits of location analytics, such as improved operational efficiency, enhanced customer experience, and data-driven decision-making, make it an essential tool for businesses looking to stay competitive in today's data-driven world.

Market Research Overview

The Location Analytics Tools Market in IT and telecommunications is witnessing significant growth in various sectors including Healthcare, Manufacturing, Tourism and Hospitality, Government and Defence, Transportation and Logistics, and Supply Chain Management. These tools leverage ML technologies, Wi-Fi location analytics, IoT, mobile networks, and portable mobile devices to provide real-time location data and insights. In Healthcare, location analytics is used for disaster information, 3D maps, and AI-based assistant for patient care. In Manufacturing, it's used for supply chain management, asset management, and risk mitigation. In Tourism and Hospitality, it's used for urban planning, customer experiences, and advertising strategies based on foot traffic patterns. Location analytics tools are available both in cloud and on-premises, offering indoor and outdoor location services. They provide reporting and visualization, ETL, data integration, reverse geocoding, and geocoding. They offer targeted marketing, personalized experiences, and real-time decision making. Major players in the market include Google LLC, ML technologies, and AI-based solutions. They offer consulting services, professional services, and deployment and integration services. Data protection regulations, privacy concerns, and data accuracy are key challenges. Location analytics tools are used in transportation and logistics for navigation infrastructure, autonomous vehicles, and e-commerce demand prediction. In retail services, they offer personalized notifications, e-commerce applications, and retail output optimization. In the Government and Defence sector, they are used for risk management and resource allocation. In conclusion, location analytics tools offer modern information services, efficiency improvements, and decision-making capabilities for businesses facing various challenges. They provide valuable insights from customer data, operational data, and geographic data using BI tools, data visualization, and digitalization.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio