Location Analytics Market Expected to Grow $22.8 billion by 2024

(IT-NEWSWIRE.COM, May 22, 2020 ) According to research report "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", 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.

Organizations are adopting location analytics to analyze and generate insights from the spatial data collected using various data sources, including sensors, cameras, GPS devices, social media sites, and mobile devices. The market evolution has been marked by the development of location-based technologies and advantages associated with them for all potential users. Location analytics vendors are trying to make things simple so that organizations can access, share, and analyze the location-based data coming from various data sources from any remote location.

Browse 72 market data Tables and 31 Figures spread through 135 Pages and in-depth TOC on "Location Analytics Market - Global Forecast to 2024"

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177193456

The geocoding and reverse geocoding segment to account for the highest market share during the forecast period

Geocoding is the process of converting addresses into geographic coordinates, which can be used to place markers on maps, or position the maps. It enables people to locate, situate, and navigate themselves and is the easiest process to describe one’s location in geographic coordinates. Once a latitude and longitude value is assigned, geocoded addresses can be displayed on maps. The addresses are used in decision-making workflows, transactions, and larger business processes. Geocoding helps transform data from locations, such as a pair of coordinates, addresses, and names or places, to locations on the earth’s surface. Geocodes can be performed by entering each location at a time, or all locations at once using tables. The outputs generated are geographic features with attributes that can be used for mapping or spatial analysis.

The consulting segment to account for the highest market share during the forecast period

Organizations providing location analytics solutions also offer consulting services based on traditional data, location-based data, and Business Intelligence (BI). Location is a vital characteristic in all organizational data, as people have residences, assets have proximities, employees have worksites, and parcels have both origin and destination. Location analytics solution providers partner with other firms outside the spatial industry to educate them on the value of location intelligence and Geographical Information System (GIS) as a transformational business tool. They also work with existing clients and help them in exploring new opportunities for maximizing their Return on Investment (RoI). Consulting services play an important role in improving vendor performance while delivering location analytics solutions.

North America to account for the highest market share during the forecast period

In North America, the US and Canada are the 2 major contributors to the overall location analytics market growth. The US is expected to hold a higher market share in the location analytics market. In the US, the government and defense, and telecommunication and IT verticals are expected to majorly contribute to the market growth. The growth in North America is attributed to the rising technological advancements, increasing industry standards for location-based technologies, and growing financial support from the governments. The region has also witnessed the emergence of startups in the location analytics market.

Speak to Our Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=177193456

Major vendors in the global location analytics market 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).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

sales@marketsandmarkets.com

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com

Technology News & Search Engine

Location Analytics Market Expected to Grow $22.8 billion by 2024