The Report Location of Things Market Analysis, By Application (Mapping &
Navigation, Asset Management, Location Intelligence, Media Engagement), By
Vertical, By Region, And Segment Forecasts, 2018 – 2025
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.
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.
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.
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
·
Europe
·
Asia Pacific
·
Latin America
·
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.
