New York, NY, Sept. 03, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Location of Things Market By Location Type (Indoor and Outdoor), By Application (Location-Based Social Media Monitoring, Location-Based Customer Engagement & Advertising Platform, IoT Location Intelligence, IoT Asset Management, and Mapping & Navigation), and By Vertical (Government & Defense, Industrial Manufacturing, Healthcare, Retail, Media & Entertainment, BFSI, Transportation & Logistics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global location of things market was USD 7.65 billion in 2018 and is expected to reach around USD 71.55 billion by 2025, growing at a CAGR approximately 37.63% between 2019 and 2025.
Location of Things (LoT) is a sub-division of (IoT) Internet of things. It is a system of interconnected devices that can communicate with each other by communications modes, such as Bluetooth, Wi-Fi, and Near Field Communication (NFC). Location is a critical characteristic of the internet of things technology, as it helps the devices to comprehend and analyze the current location by using Bluetooth Low Energy technology (BLE).
Browse through 54 Tables & 31 Figures spread over 172 Pages and in-depth TOC on “Global Location of Things Market: By Type, Applications, Verticals, Industry Size, Share, Trends, Analysis and Forecast, 2018–2025”.
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The location of things market is expected to grow substantially in the years ahead, owing to the rising use of location-based services. Moreover, the technology helps to find different routes and sends push notifications enabling effective customer engagement. This technology is also helpful in reducing theft by tracking and alerts. The commercialization of location-based services, cab services, and navigation coupled with the surging adoption of IoT-based services and products are also driving the location of things market growth. Growing awareness among enterprise and business about the benefits of location-based services and real-time location analytics has boosted the demand for spatial data, thus fueling the demand for the location of things. Furthermore, the use of location-based spatial data saves time and helps avoid improper decision-making in organizations. The rising use of geographic information system and database tools, spatial data, and web mapping is also supporting this market. However, the privacy and security regarding an individual’s identity is the prime concern that may hinder the location of things market development in the years ahead.
By location type, the location of things market is bifurcated into indoor and outdoor location. Both segments are anticipated to experience rapid growth in the years ahead. By vertical, the market includes retail, government and defense, healthcare, industrial manufacturing, media and entertainment, transportation and logistics, BFSI, and others. The transportation and logistics segment is expected to hold a substantial share of the global market in the future, owing to the availability of a wide of range of logistic solution and the development of connected car solutions and technology, which eventually enhances a business’ operational efficiency.
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North America will hold a sizeable share of the location of things market globally in the future, due to the rising penetration of smartphones, growing investments in technology by government and private investors, and faster network connectivity. Moreover, the presence of prominent players in the U.S. and various technological advancements will majorly contribute to the region’s location of things market growth. Moreover, the government is using the location of things to provide better services and reduce cost by directing queries to the web. For instance, some government agencies have incorporated the recorded location data model that enables citizens to locate their nearest schools, leisure facilities, parking slots, etc. These factors are projected to support the region’s location of things market growth in the years ahead.
Europe will hold a sizeable market share of the location of things over the anticipated time period. Mobile operators and telecommunication are using spatial data to recognize areas with strongest and weakest signal strengths, which helps with product development, capacity planning, marketing, and customer services management.
Browse the full “Location of Things Market By Location Type (Indoor and Outdoor), By Application (Location-Based Social Media Monitoring, Location-Based Customer Engagement & Advertising Platform, IoT Location Intelligence, IoT Asset Management, and Mapping & Navigation), and By Vertical (Government & Defense, Industrial Manufacturing, Healthcare, Retail, Media & Entertainment, BFSI, Transportation & Logistics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/location-of-things-market
The Asia Pacific location of things market is projected to grow substantially over the estimated timeframe. Retailers have understood the power of location and have opened stores where the product demand is high. This helps the retailers to analyze the geographic location data that will eventually reduce market risk and enable them to deliver personalized customer engagement strategies. Moreover, the location of things helps retailers to analyze the collected data related to location and manage their inventory by keeping their products at more popular stores.
The Latin American location of things market will hold a significant share globally in the future. Insurance companies and underwriting financial institutions will be able to make more accurate risk modeling based on the understanding of geographic locations, which will help various companies and institutions to understand and identify areas prone to natural calamities.
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The Middle Eastern and African location of things market will witness considerable growth, owing to the flourishing transportation and logistics sector and the rising investments witnessed in the IoT sector. Moreover, Saudi Arabia is planning to raise USD 36 billion for the expansion of its transportation and logistics sector over the next few years.
Some major players of the location of things market are Google, Bosch Software Innovations, Microsoft, Qualcomm Technologies, IBM, ESRI, Ubisense Group, Wireless Logic, HERE, Pitney Bowes, TIBCO Software, and Telogis.
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This report segments the global location of things market into:
Global Location of Things Market: Location Type Analysis
- Indoor Location
- Outdoor Location
Global Location of Things Market: Application Analysis
- Location-Based Social Media Monitoring
- Location-Based Customer Engagement and Advertising Platform
- IoT Location Intelligence
- IoT Asset Management
- Mapping and Navigation
Global Location of Things Market: Vertical Analysis
- Government and Defense
- Industrial Manufacturing
- Healthcare
- Retail
- Media and Entertainment
- BFSI
- Transportation and Logistics
- Others
Global Location of Things Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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