San Francisco, 27 December 2018,
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.
Access Full Research Report On Location of Things Market Analysis: 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 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.
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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
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa (MEA)
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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 information: www.grandviewresearch.com/
