The
global locationof 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.
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 Research
Report on Location of Things Market:
Further key
findings from the study suggest that:
·
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.
View more reports of this category by
Grand View Research at
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
View press release of this research report by
Grand View Research:
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.
