The global Location Of Things Market size is expected to reach USD 216.68 billion by 2030, registering a CAGR of 23.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing penetration of smartphones and enhanced network connectivity coupled with the increasing demand for personalized services are propelling the market growth.
Location of things is an emerging sub-category of the IoT concept that enables connected devices to monitor and communicate their geographic location. Enabled by IoT sensors and location technologies embedded into various connected devices allows organizations and service providers to collect a variety of data over the network. Over the years, a variety of location-based services has been introduced, such as Google Maps, Uber, Waze, and many others, which have been enabled by the ability of a smartphone to locate itself. Location being the most vital dimension of the data collected allows service providers to provide contextual content for each user.
Advancements in connected wearable devices, connected vehicles, connected homes, smart cities, and Industrial IoT (IIoT) are bound to open extensive market avenues for the location of things market in the coming years. However, issues related to privacy and safety along with universally accepted standards are expected to challenge the industry.
List of Key Players in the Location Of Things Market
- ESRI
- Wireless Logic
- HERE
- Navizon, Inc.
- Bosch.IO GmbH
- Pitney Bowes Inc.
- TIBCO (Cloud Software Group, Inc.)
- Trimble Inc.
- Qualcomm Technologies, Inc.
Related Press Release@ Location Of Things Market Report
Location Of Things Market Report Highlights
- North America dominated the global market and accounted for the largest revenue share of 30.3% in 2022. Technology proliferation, increased penetration of smartphones, and enhanced network connectivity have led to a faster adoption rate in North America than in other regions.
- The mapping and navigation segment accounted for the highest revenue share of around 33.3% in 2022 and is estimated to register the fastest CAGR of 24.2% over the forecast period. The mapping and navigation technology enables users to track and monitor the movement of various physical devices.
- The transportation and logistics segment accounted for the largest revenue share of around 24.8% in 2022 and is estimated to register the fastest CAGR of 24.4% over the forecast period, which is followed by the manufacturing and industrial segment. The development of connected car technologies and a variety of logistics solutions have enhanced the operational efficiencies and reduced the time-to-delivery for the transportation sector.
- Asia Pacific is expected to register the highest CAGR of 24.7% over the forecast period owing to the increased spending on connected devices, investments in various IoT technologies, and increasing demand for personalized services.
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Location Of Things Market Segmentation
Grand View Research has segmented the global location of things market on the basis of on application, vertical, and region:
Location Of Things Application Outlook (Revenue, USD Million, 2017 - 2030)
- Mapping And Navigation
- Asset Management
- Location Intelligence
- Media And Marketing Engagement
Location Of Things Vertical Outlook (Revenue, USD Million, 2017 - 2030)
- Government, Defence And Public Utilities
- Transportation And Logistics
- Retail And Consumer Goods
- Manufacturing And Industrial
- Healthcare
- Others
Location Of Things Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East And Africa
- United Arab Emirates (UAE)
- Saudi Arabia
- South Africa
This allows devices to continuously transmit the location of people and provide accurate insights.
The Location of Things Market analysis by Market Research Future (MRFR) assesses the various drivers, restraints, opportunities, and challenges for the period of 2017 to 2023 (forecast period).
The outbreak of the COVID-19 pandemic and its impact has been included in the report.Market ScopeThe global Location of Things market is expected to grow at approximately USD 38 Billion by 2023.
The combination of Bluetooth beacons, Wi-Fi routers, and sensors used in gathering data as well as the penetration of mobile devices can drive the global market growth over the assessment period.The integration of geolocation sensors in smartwatches, smartphones, and other devices for gaining directions to favorite places of customers can bode well for the market.
InGet a Free Sample @ https://www.marketresearchfuture.com/sample_request/2965SegmentationBy location type, it is divided into indoor and outdoor.By application, it is segmented into location based customer engagement and advertising platform, location based social media monitoring, mapping and navigation, IoT asset management, and IoT location intelligence.
In addition, the presence of strong domestic solution providers has contributed to the growth of the market in this region.
The location of things market by indoor type includes indoor location and outdoor location.
Business has changed color from the stereotype to a more vibrant and inclusive role thanks to penetrative power of internet and rolling out of Internet of Things (IoT) between devices.
Internet of Things (IoT) convergence has extended beyond the ordinary to foster growth in a similar market-intensive identity named Location of Things (LoT) market giving detailed and incisive insights in social-media management (SMM) monitoring to real-time asset maintenance and there is no stopping growth in location of things market.
Right from wearables and smart watches down to far-away vending machines, Internet of things has made a global impact in feeding user with health warnings and fitness-criteria down to customer touch points relaying vehicle-breakdown information with help of arithmetic program interface (API) wizards.
This has set norms in industry growth with location of things.
Machine to Machine dependence enabling internet of things connectivity and device governance with devices frequently in touch with their counterparts present a full-bloom growth channel for Internet of Things (IoT) market.
