According to a recent study titled ‘Location Analytics Market Share, Size, Trends, Industry Analysis Report, By Component; By Solution; By Location Type; By Application; By Verticals; By Regions, Segment Forecast, 2020 - 2026’, available with Market Study Report, global location analytics market is expected to surpass a valuation of USD 29.87 billion by the end of the forecast period 2020-2026.
 

As per the report findings, global location analytics market is largely fueled by increasing utilization and application of spatial data and analytical tools across various industry verticals. Moreover, growing inclination towards location-based applications, rising penetration of social media for customer engagement, and technological innovations are boosting the market growth.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2963813/
 

For the uninitiated, location analytics help businesses make well-informed decisions by understanding how the various components in an organization relate to one another, including products, facilities, raw materials, employees, agents, customers, or events. Benefits such as better targeted decisions and visualization of business performance, along with reduced costs and risks in supply chain management are encouraging the adoption of location analytics.
 

Elaborating on the factors hindering global location analytics industry expansion, concerns regarding data privacy and legalities, high deployment cost, and lack of standardized regulatory norms are negatively impacting the business landscape. Further, dearth of technical expertise & awareness, and poor connectivity and data integration of this solution are the other major restraints.
 

Considering the geographical scope, Europe and North America collectively account for more than half of the overall location analytics market share. This can be ascribed to high adoption of analytical business intelligence and geographic information systems technology in these regions owing to robust growth of retail sectors, and strong penetration of smartphones and other advanced tools.
 

Further, high utilization of location-based mapping services by a large number of individual customers or enterprises in Europe has made this region a major R&D hub for the industry. Location analytics, in European countries, is mainly used to conduct marketing campaigns and customer management to further business expansion.
 

Meanwhile, Asia Pacific location analytics market size will expand significantly during the forecast period due to proliferating number of smartphones, social medica users, and service providers in the region. Enhancement of networking technologies and presence are huge population base are further enhancing the industry outlook.
 

Speaking of the competitive arena, top contenders in global location analytics industry sphere are Quuppa, Lepton Software, IndoorAtlas Ltd., CleverAnalytics, a.s., Alteryx, Inc., GeoMoby, Purple, Galigeo, Microsoft Corp., IBM Corp., Pitney Bowes, Inc., Cisco Systems, Inc., Oracle Corp., Esri, and SAS Institute.