The global location of things market size 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.
Full Research Report On Location Of Things Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/location-of-things-market
Further key
findings from the study suggest that:
- North America and Europe
accounted for the majority share in the 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 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 market. Key market players include Google, HERE, Qualcomm, Apple,
Pitney Bowes, and Bosch, among others.
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Grand View Research has segmented
the global location of things market on the basis of applications, verticals,
and regions:
Location of Things
Application Outlook (Revenue, USD Million; 2014 - 2025)
- Mapping and Navigation
- Asset Management
- Location Intelligence
- Media and Marketing
Engagement
Location of Things
Vertical Outlook (Revenue, USD Million; 2014 - 2025)
- Retail and Consumer Goods
- Government, Defense, and
Utilities
- Manufacturing and Industrial
- Transportation and Logistics
- Healthcare
- Others
Location of Things
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)
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.
For more info visit @ https://www.grandviewresearch.com
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