Location Analytics Market Worth 16.34 Billion USD by 2021

PUNE, India, October 27, 2016 /PRNewswire/ --

According to a new market research report "Location Analytics Market by Application, Component (Software and Services), Location (Indoor and Outdoor), Organization Size, Deployment Model (On-Premises and Hosted), Industry Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the market size is estimated to grow from USD 8.20 Billion in 2016 to USD 16.34 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 17.6% during the forecast period.    

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Browse 83 market data Tables and 45 Figures spread through 154 Pages and in-depth TOC on "Location Analytics Market"

http://www.marketsandmarkets.com/Market-Reports/location-analytics-market-177193456.html 

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The key forces driving the Location Analytics Market include increasing amount of spatial data & analytical tools and the rising significance towards market & competitive intelligence. Location analytics services also help in predictive analytics and asset management. With an increase in the adoption of location analytics by Small and Medium Enterprises (SMEs), the market is expected to gain major traction during the forecast period.

"Supply chain planning and optimization in applications is expected to grow at the highest rate during the forecast period" 

Among applications, supply chain planning and optimization segment is expected to grow at the highest CAGR of 19.4% during the forecast period. The demand for cloud-based reporting and analytics is increasing among enterprises due to an increasing need for improved decision-making, optimizing internal business process, increasing operational efficiency, and gaining competitive advantage in the market.

"Geocoding and reverse geocoding segment is expected to contribute the largest market share in 2016" 

Among software, the geocoding and reverse geocoding segment is expected to hold the largest market share in the Location Analytics Market in 2016. Buildings such as educational institutions, malls, retail shops, commercial buildings, hotels, and restaurants are increasingly deploying location analytics to make important decisions about asset management and resource allocation. The hosted deployment of location analytics has been in demand for sectors such as educational institutions, retail outlets, and hospitality sector, thereby making geocoding and reverse geocoding the largest market in terms of market size in 2016.