Location Analytics Market to 2027 - Opportunity Analysis & Growth Insights

1. Location Analytics Market - Growth Statistics, Trends Analysis, Revenue and Forecast to 2027

2. Amid rising global efforts for embracing the ‘New Normal’, a number of location analytics market players are foraying into the retail space with the development and rollout of advanced solutions. The COVID-19 pandemic has left several retail brands struggling against the potential threat of disappearance, elevating the need for gaining a deeper understanding of business places. • In such a scenario, location intelligence solutions are touted to help retailers in getting closer to their customers by building loyalty programs through hyper-local analysis. In light of similar advancements, the location analytics market size is estimated to surpass USD 35 billion by 2027, according to the latest report published by Global Market Insights Inc. • The outdoor positioning application accounted for more than 55% of the overall market share in 2020 and is expected to depict substantial growth through the estimated period. This rise can be attributed to the mounting demand for asset tracking, locating, and monitoring from businesses as well as consumers. • For years, logistics, agricultural, and transportation companies have been making use of GPS asset tracking and other outdoor localization methods for keeping up with the assets that are stored beyond the safety of factory walls, warehouses, and depots.

3. Location analytics software solutions are increasingly being adopted for addressing supply chain issues that have emerged as a result of the COVID-19 pandemic. The systems help in the identification of CPG demand hotspots and also enable the deployment of best practices for the purpose of fleet management and distribution management. • The enhancement of visibility is one of the major benefits driving product penetration for ensuring supply chain optimization across various industries. • For instance, in July 2021, Kloudspot, Inc., entered into a collaboration with Cisco Meraki for helping organizations provide smarter and safer workspace experiences for employees and customers. The ‘KloudVision’ and the ‘Kloudspot Platform’ combine video analytics and real-time location intelligence for the secure integration of unique safety features comprising PPE compliance monitoring, automated triggers, and occupancy monitoring for social distancing. • In a nutshell, the surging requirement for accessing location data, such as information pertaining to customer whereabouts, the duration of their stay, frequency of visits, and their preferences, is expected to propel location analytics industry expansion through the forecast period.

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5. Regional Analysis • Numerous industry players in the Asia Pacific are organizing funding initiatives for capacity expansion and the launch of innovative solutions on the market. For instance, in February 2022, Data Sutram, an AI-based location intelligence company, secured a sum of USD 2.07 million in a Yatra Angel Network and Varanium Capital-led funding round. • The company will make use of the fresh capital for investing in new data sources and the expansion of its operations across the Middle East and South East Asia. Owing to similar initiatives, the Asia Pacific location analytics industry is projected to exceed a revenue of USD 9 billion by 2027. • Competitive Analysis • Some of the major participants in the location analytics market comprise Esri Global, Inc., Alteryx, Inc., Lepton Software, Microsoft Corporation, Oracle Corporation, SAS Institute, Clevermaps, Sparkgeo Consulting Inc, Zebra Technologies Corporation, GeoMoby, Purple WiFi, Hexagon AB, and others. These companies are focused on the adoption of strategic initiatives including acquisitions, mergers, and partnership agreements for establishing a strong foothold in the industry.

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