According to the research report titled ‘Global Location Analytics Market Size study, by Component (Solutions and Services), by Deployment (On-Premises, Hosted) by Software (Geocoding, Reverse Geocoding, Thematic Mapping, Reporting, Data Integration, Spatial analysis, Others) by End-Users (BFSI, IT & Telecommunications, Retail, Healthcare, Government, Transportation, Energy & Utilities, Other) and Regional Forecasts 2020-2026’, available with Market Study Report, global location analytics market is expected to grow substantially during 2020-2026.
 

Increasing use of analytical tools and spatial data are driving the growth of global location analytics market. Growing adoption of analytics technology in various end-use industries especially the retail sector is further propelling the market growth.
 

Location analytics represents the BI (business intelligence) process employed to enhance insights from location-based or geographic business data. It aids organizations and companies to integrate 3D data and conventional BI data. Several information sources like global positioning systems (GPS), sensors mobile devices, cameras, and social media channels are used to collect the spatial data such as existing points, altitudes, latitudes, longitudes, direction of travel, and last location of users. Additionally, location analytics utilize BI tools to analyze, assess, and process the collected data into actionable insights and facilitate in effective business outcomes.
 

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As per American Society for Quality report published in April 2019, around 63% of manufacturers are estimated to invest up to 267 billion in Internet of Things by the end of 2020 since it will boost their respective profitability over the ensuing five years. Thus, increase in usage of IoT technology is fueling the market size. Moreover, retailers can discover the relationship between products, demands, stores, customer types, and preferences across various metrics and parameters that impact the sales performance with the help of spatial data, thereby facilitating the business scenario.
 

On the contrary, data privacy issues and legal concerns may hamper the growth of global location analytics industry during 2020-2026. However, widespread adoption of advanced technologies like ML (machine learning), AI (artificial intelligence), and IoT across various industry verticals have augmented the demand for analytics solutions since it helps improve the efficiency of enterprises.
 

From a regional perspective, North America currently holds a majority of market share, attributable to high investments from the defense sector, government as well as Telecom and IT sector. Meanwhile, Asia Pacific location analytics market is projected to grow substantially during 2020-2026, owing to rapid industrialization and surging disposable income.
 

Major contenders in global location analytics market are SAP SE, Alteryx Inc., Cisco Systems Inc., Galigeo, IBM Corporation, Microsoft Corporation, Pitney Bowes, Oracle Corporation, ESRI (Environmental Systems Research Institute), Tibco Software Inc., and SAS Institute.