The global location of things market size was valued at USD 5,562.1 million in 2016 and is expected to reach USD 71.6 billion by 2025, with a CAGR of 34.07%. The location of things market by indoor type includes indoor location and outdoor location. The business has changed color from the stereotype to a more vibrant and inclusive role thanks to the penetrative power of the internet and the rolling out of the 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 the location of things market.
The expansion has led to device expression and remote location-based authorization of device parameters and device-prioritization for instance covering connected cars, connected home, smart cities, mobile advertising, and ambient intelligence boosting technological upgrades in the LoT market. Right from wearables and smartwatches down to far-away vending machines, the Internet of things has made a global impact in feeding users with health warnings and fitness criteria down to customer touchpoints relaying vehicle-breakdown information with help of arithmetic program interface (API) wizards. This has set norms in industry growth with the location of things.
Advertising in every nook of the city with out-of-home (OOH) technology and IoT is gaining root. Traditional outmoded banner advertising becoming a tad unpopular, Location of things and IoT have left their indelible mark in famed hallmarks of advertising. Machine to Machine dependence enabling the internet of things connectivity and device governance with devices frequently in touch with their counterparts present a full-bloom growth channel for the Internet of Things (IoT) market.
On an upside Location of Things (LoT) market will gain increase due to personal vehicle connectivity with enhanced telecommunication and collaboration technologies and all-around gains are predicted. The location of things market by application includes navigation type, location-based customer engagement, advertising platform, location-based social media monitoring, IOT Asset Management, and IOT Location Intelligence.
By vertical, location of things market includes government and public utilities, defense, transportation and logistics, industrial manufacturing, healthcare, and life sciences, retail, BFSI, media and entertainment, and others. By region, the location of things market includes North America, Europe, Asia Pacific, MEA, and Latin America. As per industry news, Intel Capital is financing an IoT technological arm focusing on technology enunciation including 3D-scanning and biometric sensors, 3D biometric sensors, and wearable sand IoT infrastructure start-ups. The software and services market will be a multi-billion dollar market and growth in several interconnected devices will exhibit enhanced market drive.
By location, the connected cities market is exhibiting profound growth in the location of things market. Drivers to the location of things market are improved customer experience, simplification of supply chains agile logistics with cost-cutting measures, and productive all-around employee participation. Amongst other key industries, smart factories will contribute 7% to 8% of the industry total. Key industries include Bosch Software Innovations GmbH, ESRI, Qualcomm Technologies, Wireless Logic, Ubisense Group, PLC, Google, Inc., IBM Corporation, Microsoft Corporation, Pitney Bowes, HERE, Telogis, and Tibco Software. The target audience in the location of things market is application vendors, IOT provider companies, Academic and research institutes, and government associations.
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
Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• the U.S.
• the UK
• the Asia Pacific
• Latin America
• Middle East & Africa (MEA)
Research Support Specialist, USA
FREE sample contains market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...