NEW YORK, Nov. 7, 2016 /PRNewswire/ --
"Increase in spatial data and analytical tools is driving the growth of the location analytics market"
The location analytics market size is estimated to grow from USD 8.20 billion in 2016 to USD 16.34 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 17.6%. The market is driven by factors such as increasing amount of spatial data and analytical tools, risking significance towards market & competitive intelligence, and increasing importance of asset management & predictive analytics. However, privacy and security concerns are acting as a restraint for adopting location analytics.
"Among the applications, emergency response management is expected to have the largest market size during the forecast period"
Emergency response management segment among the applications is expected to hold the largest market share during the forecast period as it is used for coverage related to emergency responders, firefighters, fire response, chemical response, and emergency response. This growth is primarily driven by the growth in healthcare, energy & utilities, financial services, and insurance industries.
"Retail and consumer vertical is expected to dominate the location analytics market during the forecast period"
Location analytics services have been used across various industry verticals, including government, BFSI, IT & telecom, healthcare, travel & tourism, and retail & consumer goods. The retail and consumer goods vertical is expected to hold the largest market share during the forecast period, owing to constant growth in the number of internet users, proliferation of smartphones, and the increasing number of tech-savvy consumers.
"Asia-Pacific (APAC) projected to grow at the highest CAGR"
North America is expected to hold the largest market share in 2016, while APAC is the fastest-growing region in terms of CAGR. Due to rapid digital transformation in this region, the need for location services is increasing. Similarly, with broadband and mobile infrastructure improving in this region, the use of Internet of Things (IoT) and location sensors is also gaining momentum. Moreover, cloud emergence and mandatory government regulations are helping in boosting the growth of the location analytics market in the region.
The break-up of profiles of primary participants are given below as:
- By Company: Tier 1: 25%, Tier 2: 40%, and Tier 3: 35%
- By Designation: C level: 55%, Director level:26%, and Others: 19%
- By Region: North America: 47%, APAC: 32%,Europe: 21%,
Various key Wi-Fi service providers profiled in the report are as follows:
- SAS Institute (U.S.)
- TIBCO Software Inc. (U.S.)
- ESRI (U.S.)
- Oracle Corporation (U.S.)
- Pitney Bowes (U.S.)
- Microsoft Corporation (U.S.)
- IBM Corporation (U.S.)
- Galigeo (France)
- Cisco Systems (U.S.)
- Alteryx, Inc (U.S.)
- SAP SE (Germany).
The report segments the location analytics market on the basis of: component, which includes software as well as services; application type such as risk management, emergency response management, customer management, remote monitoring, supply chain planning and optimization, sales & marketing optimization, inventory management, predictive asset management, and others that includes deployment models on-cloud and on–premise; verticals: healthcare & life sciences, BFSI, retail & consumer goods, manufacturing, travel & hospitality, IT & telecommunication, media & entertainment, energy & utility, government & defense, and transportation & logistics in the regions North America, Europe, Asia–Pacific (APAC), Middle East & Africa (MEA), and Latin America.
Reason to buy the report:
- To get a comprehensive overview of the global location analytics market
- To gain wide ranging information about the top players in this market sphere, their product portfolios and key strategies adopted by them
- To gain insights of the major countries/regions in which the location analytics market is flourishing in various industries
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