The global location analytics market size is expected to grow from USD 13.8 billion in 2020 to USD 26.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period. Major growth drivers of the market are the growing need of predictive analytics for businesses and the increasing use of location-based applications.
The geocoding and reverse geocoding segment to hold a larger market size during the forecast period
The location analytics market is segmented into geocoding and reverse geocoding, data integration and ETL, reporting and visualization, thematic mapping and spatial analysis, and others (DBMS and sociodemographic data) by solutions. The geocoding and reverse geocoding segment is expected to have a larger market size during the forecast period, owing to the need to perform risk assessments using exact location information for making accurate analysis during natural calamities, such as earthquakes and floods. However, the data integration and ETL segment is expected to grow at a higher CAGR during the forecast period. ETL helps in extracting geographic data from any source system, transforming it into a format based on users’ needs and loading it in target systems.
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By application, sales and marketing optimization segment to grow at the highest CAGR during the forecast period
The location analytics market by application has been segmented into risk management, emergency response management, customer experience management, remote monitoring, supply chain planning and optimization, sales and marketing optimization, location selection and optimization, and others (predictive asset management and inventory management). The need to boost sales by performing various marketing campaigns and advertisements based on locations is leading to the adoption of sales and marketing optimization application.
Major location analytics vendors include Google (US), Esri (US), Precisely (US), SAP (Germany), IBM (US), SAS Institute (US), Oracle (US), Microsoft (US), Cisco Systems (US), TomTom (Netherlands), Hexagon (Sweden), Zebra Technologies (US), GaliGeo (France), Purple (UK), Here technologies (US), Geomoby (Western Australia), Alteryx (US), CleverMaps (Czech Republic), IndoorAtlas (Finland), Lepton Software (India), Quuppa (Finland), CARTO (US), Tibco software (US), SparkGeo (Canada), PlaceIQ (US), Ascent Cloud (US), FourSquare (US), MapLarge (Georgia), Hardcastle GIS (US), GapMaps (Australia), Mapidea (Portugal), MOCA (Spain), Geoblink (Spain), Orbica (New Zealand), Quadrant (Singapore), Locale.ai (India), Placense (Israel), and Spatial.ai (US). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global location analytics market. Partnerships and new product launches have been the most dominating strategy adopted by the major players from 2018 to 2020, which has helped them innovate their product offerings and broaden their customer base.
Google (US) isn American multinational technology company that specializes in Internet-related services and products These products include various categories, including online advertising technologies, search engines, cloud computing, software, and hardware. Google offers different products, such as Google Assistant, Google Ads, Google Search, Google Maps, Google Translate, Google Chrome, and YouTube. The company’s vast product portfolio also includes various devices, including Pixel, Connected Home, Pixel Slate, and Google Wi-Fi. Its products for communication include Gmail, Hangouts, Google Duo, and Messages. Google’s solutions include Google Ads, AdSense, and Analytics. The company offers solutions to various industries, which include retail, financial services, healthcare and life sciences, media and entertainment, telecommunications, gaming, manufacturing, energy, government, education, and small businesses. The company has around 118,899 employees with geographical presence in North America, Europe, APAC, MEA, and Latin America.
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Esri (US) is an international company that supplies GIS software, web GIS, and geodatabase management applications. It started as a small research group with a mission to organize and analyze geographic information, which would provide valuable insights to organizations. It offers solutions for various requirements, including business needs, government needs, and industrial needs. The company caters to various industries, including banking, education, real estate, retail, government, insurance, manufacturing, telecommunication, and transportation. Esri fulfills various business needs. These needs are facility management, risk management, logistics management, performance monitoring, and market and customer analysis. Its partner network falls under six categories: solutions, services, content, system integration, management consulting, and hardware. Esri has alliances with various big organizations, including SAP, Autodesk, and Microsoft. Its location analytics provides any business system with ready-to-use solutions, along with the ability of directly mapping and analyzing data of day-to-day use products.
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