The
global location of things market is expected to reach USD
71.6 billion by 2025, growing at a CAGR of 34.07%, according to a new
study 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.
 |
| North America LoT market revenue by application, 2014 - 2025 (USD Million) |
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.
Browse full
research report on Location of Things Market: www.grandviewresearch.com/industry-analysis/location-of-things-market
Further
Key Findings From the Study Suggest:
- North America and Europe accounted for the
majority share in the location of things market. Advanced infrastructure
and accelerated adoption of smart devices along with the presence of major
technology players are the key factors contributing to the regional market
dominance.
- Mapping and navigation applications dominated
the global location of things market with a share of 32.6% in 2017. The introduction
of various applications, such as Google Maps, HERE Maps, and Apple Maps,
among others, has enabled a variety of location-based services that have
led to the segment growth.
- The transportation and logistics vertical
segment acquired a major share in the location of things market in 2017,
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 grow at a CAGR of
nearly 35.9% over the forecast period. Advancements in technology
infrastructure in countries such China, India, Japan, and other developing
nations in the region are expected to drive the industry growth in the
coming years.
- Increasing investments in IoT technologies and
location-based services are expected to drive the growth of location of
things market. Key market players include Google, HERE, Qualcomm, Apple,
Pitney Bowes, and Bosch, among others.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the location of things market on the
basis of applications, verticals, and regions:
Application
Outlook (Revenue, USD Million; 2014 - 2025)
- Mapping
and Navigation
- Asset
Management
- Location
Intelligence
- Media
and Marketing Engagement
Vertical
Outlook (Revenue, USD Million; 2014 - 2025)
- Retail
and Consumer Goods
- Government,
Defense, and Utilities
- Manufacturing
and Industrial
- Transportation
and Logistics
- Healthcare
- Others
Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa (MEA)
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-location-of-things-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business decisions, we
offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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