Location Analytics Market

Key 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

The global location analytics market size is expected to grow from USD 10.6 billion in 2019 to USD 22.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 16.6% during 2019–2024. The increasing use of spatial data and analytical tools, rising need of predictive analytics for businesses, and growing use of location-based applications among consumers are expected to drive the location analytics market growth. However, legal concerns and data privacy issues may limit the market growth. On the other hand, factors such as a rise in the adoption of advanced technologies and growth in the adoption of social media for customer engagement are expected to shape the future of the location analytics market. Moreover, issues related to the lack of uniform regulations and high initial cost of deployment may act as challenges for the market growth.

The major location analytics market vendors include SAS (US), Esri (US), Oracle (US), Pitney Bowes (US), Microsoft (US), Galigeo (France), Cisco (US), IBM (US), Purple (UK), GeoMoby (Australia), Alteryx (US), CleverAnalytics (Czech Republic), IndoorAtlas (Finland), Lepton Software (India), and Quuppa (Finland). 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. New product launches, partnerships, and agreements have been the most adopted strategies by the major players from 2017 to 2019, which helped them innovate their offerings and broaden their customer base.

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SAS (US) is considered as one of the strongest suppliers in Business Intelligence (BI) and analytics solutions. To cater to the increasing demand for location analytics, SAS has developed products to meet the unique requirements of various organizations. To maintain its leadership position and increase its footprints worldwide, SAS has adopted both organic as well as inorganic growth strategies. The company’s solutions offer unique features for enterprises in the location analytics area. SAS’ Visual Analytics provides smart visualizations, which help enterprises present the data and results in the most simple way with advanced data visualization techniques and guided analysis through auto charting. Auto charting is a technique that combines advanced data knowledge plus the science of data visualization and exploration to assist, or guide, the user to the next level of data discovery. Moreover, SAS Visual Analytics solution provides location analytics feature that combine traditional data sources (transactional, customer, and operational) with location data for analysis in a geographical context.

Oracle (US) has been serving a diverse client base, which has a presence across industry verticals for over 3 decades. The company provides its customers with enhanced products pertaining to the current market trends of cloud, analytics, and mobility. To provide its customers with updated technologies and easy solutions, Oracle constantly innovates and brings about changes in its products. To capture the location analytics market, the prime focus of the company is on its organic growth strategy. Additionally, the company adopts organic growth strategy, such as new product launches, to enhance its solutions and expand its global presence. In line with its organic growth strategies, in October 2015, Oracle launched Oracle Data Visualization Cloud Service to make data visualization 100% self-service, empowering its clients to go from raw data to actionable business insights in just a few minutes. It delivers rich visual analysis, rapid discovery of insights, and secure collaboration, enabling fact-based decisions at every level of the organization.

Related Reports:

Location Analytics Market by Component (Solutions and Services), Location Type (Indoor Location and Outdoor Location), Application (Remote Monitoring, Risk Management), Vertical (Retail, Media and Entertainment), and Region - Global Forecast to 2024

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