Location Analytics Tools Market Size, Share, Industry, Forecast and outlook (2024-2031)

Report Overview

Global Location Analytics Tools market reached US$ 18.5 billion in 2022 and is expected to reach US$ 49.1 billion by 2030 growing with a CAGR of 13.0% during the forecast period 2023-2030. 

The location analytics tools market has experienced significant growth in recent years due to the increasing adoption of data analytics across various industries and the growing recognition of the value of location-based data in decision-making processes. Organizations are leveraging location analytics tools to gain insights into customer behavior, optimize operations, improve resource allocation, and enhance overall business performance.

North America holds the highest share in the global location analytics tools market and is expected to cover more than 54.4% in the forecast period due to technological advancements and digital transformation, driving the adoption of location analytics tools across various industries such as retail, transportation, and healthcare. Furthermore, the presence of major technology companies and a strong focus on data-driven decision-making have contributed to the region's dominance in the location analytics market.

Market Summary

For More Insights about the Market Request Free Sample

Market Dynamics

Rising Demand for Real-Time Insights

The need for real-time data and insights has driven the demand for location analytics tools that can provide timely information and facilitate real-time decision-making. Organizations are leveraging these tools to monitor and respond to dynamic situations, such as traffic management or tracking the movement of assets.

Companies are taking immense interest in boosting the real-time insights application in various end-users. For instance, on 28 February 2023 Cognizant, one of the top professional services firms in the world, and HERE Technologies, the industry leader in location data and technology, partnered to offer Cognizant's clients in the retail, ride-hailing, logistics, manufacturing, and automotive sectors real-time location insights and analytics. Businesses will be able to reach and service their customers more effectively by utilizing geographical information and analytics. In order to create spatially intelligent solutions for its clients, Cognizant will make use of the HERE location platform's strong data visualization and exchange capabilities, including access to real-time traffic data, vehicle, weather, and detailed road characteristic data.

Technological Advancements

Technological advancements have led to improved data collection capabilities, enabling organizations to gather vast amounts of location-based data from diverse sources. These sources include GPS-enabled devices, IoT sensors, mobile apps, social media, and geospatial databases. Location analytics tools can now integrate and analyze these data sources, providing a comprehensive view of spatial information. Companies are investing heavily in advanced technology leading to create future growth prospects for the market.

On 01 December 2022, Mapbox, the expanding maps and location platform operating a new wave of location-aware applications, has just released new products to help organizations and developers make better data-driven decisions, develop applications faster and simpler, and create intuitive and seamless user experiences using cutting-edge location technologies

High Costs And Budget Constraints

The cost of implementing and maintaining location analytics tools, including software licenses, hardware, and skilled personnel, can be significant. Budget constraints and cost considerations may limit the adoption of location analytics tools, particularly for organizations with limited resources. Furthermore, implementing location analytics tools often requires a significant initial investment. 

The initial investment includes the cost of software licenses, hardware infrastructure, data integration, and skilled personnel. For organizations with limited financial resources or strict budget constraints, the upfront cost can be a deterrent to adopting location analytics tools. Beyond the initial investment, location analytics tools also require ongoing maintenance, support, and software upgrades. These costs can add up over time and may strain the budget of organizations, especially if they lack dedicated IT resources or have limited funding allocated for technology-related expenses.

For more details on this report - Request for Sample

Segment Analysis

The global location analytics tools market is segmented based on component, location, deployment, application end-user and region.

Location Analytics Extensive Applications In Outdoor Environments, Such As Transportation And Logistics, Retail And Advertising

The outdoor location is expected to show significant growth in the global location analytics tools market covering nearly half in 2022. Location analytics tools find extensive applications in outdoor environments, such as transportation and logistics, retail and advertising, urban planning, and environmental monitoring. The outdoor segment encompasses a broader range of industries and uses cases, leading to higher demand for location analytics tools in these sectors.

Furthermore, the outdoor segment of location analytics tools is particularly relevant in urban planning and the development of smart cities. It helps city planners analyze traffic patterns, manage parking, monitor public safety, and optimize infrastructure based on real-time location data.

Source: DataM Intelligence Analysis (2023)

Geographical Share

North America’s Rising Adoption Of Advanced Technologies, Mature Business Environment And Increasing Demand For Location-Based Insights Across Various Industries

In 2022, North America dominated the location analytics tools market and generated more than 50.1% of global revenue due to robust technological infrastructure, advanced analytics capabilities, and a diverse range of industries. North America location analytics tools market caters to a wide range of industry verticals, including retail, transportation and logistics, healthcare, government, banking and finance, and telecommunications. These industries leverage location analytics to enhance customer experiences, optimize operations, and make data-driven decisions.

Furthermore, the retail sector in the region extensively utilizes location analytics tools to gain insights into consumer behavior, footfall analysis, and store performance. The region has a highly competitive retail landscape, and location analytics helps businesses optimize store locations, understand customer preferences, and deliver personalized marketing campaigns.

Source: DataM Intelligence Analysis (2023)

Market Keyplayers

The major global players include Pitney Bowes, Hexagon, Syncsort, Oracle Corporation, Google Llc, Esri, Sisense Inc, Microsoft Corporation, Alteryx and Here Technologies.

COVID-19 Impact Analysis

COVID Impact

The pandemic has caused widespread disruptions in various industries, leading to changes in business operations and consumer behavior. Many businesses had to temporarily shut down or shift to remote work arrangements. This disruption had a direct impact on the demand for location analytics tools as organizations focused on immediate crisis management rather than investing in new technologies.

Furthermore, the uncertain and volatile business environment during the pandemic led to a postponement of decision-making processes. Many organizations delayed investment decisions, including the adoption of location analytics tools, due to unpredictable market conditions. The focus shifted towards short-term survival and crisis management rather than long-term strategic initiatives.

Russia-Ukraine War Impact 

The conflict between Russia and Ukraine has created a volatile geopolitical environment, characterized by uncertainty and instability. In such situations, businesses and organizations become cautious about making long-term investments, including adopting location analytics tools. The heightened geopolitical tensions can deter potential buyers and investors, leading to a slowdown in the market.

Furthermore, the Russia-Ukraine war leads to a redirection of government resources and investments toward military operations and reconstruction efforts. This shift in priorities results in limited financial support or incentives for technology adoption, including location analytics tools. Organizations may face challenges in securing government funding or subsidies, further impacting market growth.

Key Developments

• On 28 February 2023, Cognizant, one of the top professional services firms in the world, and HERE Technologies, the industry leader in location data and technology, partnered to offer Cognizant's clients real-time location insights and analytics in the retail, ride-hailing, logistics, manufacturing, and automotive sectors.
• On 01 December 2022, Mapbox, the expanding maps and location platform operating a new wave of location-aware applications, has just released new products to help organizations and developers make better data-driven decisions, develop applications faster and simpler, and create intuitive and seamless user experiences using cutting-edge location technologies.
• On 28 July 2021, INRIX, Inc., announced INRIX IQ Location Analytics, a powerful new cloud-based LBS application that offers retailers, investors, and other business professionals the insights to open increase revenue, and new stores and maximize return on investment.

Why Purchase the Report?

• To visualize the global location analytics tools market segmentation based on component, location, deployment, application end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of Location Analytics Tools market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global location analytics tools market report would provide approximately 61 tables, 58 figures and 217 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies