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According to a new report Global Location Analytics Market, published by KBV Research, the global Location Analytics market is expected to attain a market size of $20.2 billion by 2022, growing at a CAGR of 16.4% during the forecast period.
The major factors that drive the Location Analytics Market are growing amount of spatial data & analytical tools, and growing inclination for market & competitive intelligence. Location analytics services are also used in predictive analytics and asset management. The growing adoption of location analytics by Small and Medium Enterprises (SMEs) would drive the market during the forecast period.
Within the application segment, the supply chain planning and optimization segment is anticipated to register the highest growth rate during the forecast period. Cloud-based reporting and analytics is gaining prominence among enterprises, as the need for decision-making, internal business process optimization, increasing operational efficiency, and gaining competitive advantage in the market have become vital aspects in a competitive business environment.
Within the software segment, the geocoding and reverse geocoding segment is held the highest market share in the Location Analytics Market in 2016. Asset management and resource allocation can be effectively managed in educational institutions, malls, retail shops, commercial buildings, hotels, and restaurants with the deployment of location analytics. The hosted deployment has found widespread adoption in sectors such as educational institutions, retail outlets, and hospitality sector, making geocoding and reverse geocoding, the largest market in terms of market size in 2016.
North America would be the largest market for Location Analytics Market and would be the leading market during the forecast period. Substantial investments in cloud-based solutions, early adoption of new & emerging technologies, and major market players in the region makes the region the leading market for location analytics.� The APAC region is picking pace eventually, and would be the fastest growing region during the forecast period. The growing demand for location analytics services by the SME�s would drive the APAC region.
The report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key influencing factors of the global Location Analytics market have been discussed in the report along with the elaborated company profiles namely IBM Corporation, HP Enterprise Company, Microsoft Corporation, Cisco Systems, Inc., Google Inc., Oracle Corporation, SAP SE and SAS Institute Inc.
Global Location Analytics Market Segmentation
By Component Type
By Location Type
By Organization Size