The location analytics market size is projected to grow from USD 18.0 billion in 2022 to USD 33.2 billion in 2027 at a compound annual growth rate (CAGR) of 13.1% during the forecast period. The developing usage of social media for customer engagement is likely to create opportunities for the stakeholders in the location analytics market.
Major location analytics vendors include IBM (US), Google (US), Oracle (US), Microsoft (US), Esri (US), SAS (US), Precisely(US), SAP (Germany), CISCO (US), TomTom (Netherlands), Hexagon (Sweden), Zebra Technologies (US), Alteryx (US), HERE (US), Purple (UK), Galigeo (France), Geomoby (Australia), Quppa (Finland), CleverMaps (Czech Republic), IndoorAtlas (Finland), Lepton Software (India), CARTO (US), TIBCO (US), Sparkgeo (Canada), Ascent Cloud (US), Foursquare (US), MapLarge (Georgia), SedimentIQ (US), Ariadne Maps (Germany), Locale.ai (India), Geoblink (Spain), Nrby (US), Mapidea (Portugal), GapMaps (Australia), and LocationsCloud (US). These market players have adopted various growth strategies, such as partnerships, collaborations, and new product launches, to expand have been the most adopted strategies by major players from 2019 to 2022, which helped companies innovate their offerings and broaden their customer base.
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IBM is a multinational technology and consulting corporation offering infrastructure hosting and consulting services. The company operates through five major business segments: cloud and cognitive software, global business services, technology services, systems, and financing. IBM Cloud has emerged as a preferable platform for all business applications, as it is AI-compatible. It is a unifying platform that integrates IBM’s capabilities with a single architecture and spans public and private platforms. With this powerful cloud platform, the company can cater to the requirements of different businesses across the globe. IBM caters to various verticals, including aerospace and defense, education, healthcare, oil & gas, automotive, electronics, insurance, retail and consumer products, banking and finance, energy & utility, life science, telecommunication, media and entertainment, chemical, government, manufacturing, travel and transportation, construction, and metals and mining.
Microsoft develops software, services, devices, and solutions to compete in the era of an intelligent cloud and an intelligent edge. With the increase in investments in the mix-reality cloud, Microsoft enables its customers to digitalize their business processes. The company’s offerings include cloud-based solutions that provide customers with software, platforms, and content. Its product offerings include Operating Systems (OS), cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. Microsoft’s platforms and tools help drive the productivity of small businesses, the competitiveness of large businesses, and the efficiency of the public sector. The company works on three pillars, which include privacy, cybersecurity, and responsible AI, to provide tools and frameworks for its customers to encourage policy change. It focuses on investing in data centers and other hybrid and edge infrastructure to enhance its service offerings. Microsoft operates in three segments: productivity and business processes, intelligent cloud, and more personal computing. The productivity and business processes offer dynamic business solutions, including Dynamics 365, a set of cloud-based applications across ERP and CRM, Dynamics ERP on-premises, and Dynamics CRM on-premises. It has a geographical presence in more than 190 countries across the US and other internationals.
Location Analytics Market by Component (Solutions and Services), Location Type (Indoor Location and Outdoor Location), Application, Deployment Mode (On-Premises, Cloud), Organization Size, Industry Vertical and Region - Global Forecast to 2027
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