Location of Things Market, By Location Type (Indoor, Outdoor), Application (IoT Asset Management, IoT Location intelligence), Vertical (Retail, Healthcare, Media, Transport and Logistics) – Forecast 2023
Location of things market is estimated to exhibit high growth potential during the forecast period. Increasing importance of spatial data is one of the major factors driving the growth of the location of things market. Location is an important component of IoT which entails, among other things, ability of objects to comprehend and communicate their physical positions. Hence, it has an important role to play for anything connected to the internet.
Location data is swiftly proving to be another data point for input into data analysis. They are useful in optimizing routes, providing feedback on when a machine is down, lessening theft and loss of assets through reliable tracking and alerts, promoting customer engagement and loyalty by sending push messages on their smartphones when they are in the vicinity. Increase in the adoption of location-based applications across various verticals are driving the location of things market. Whereas, privacy issues regarding user identity is the major restraint of this market.
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Location of things helps enterprises to have visibility of their business activities regardless of their location and are able to monitor, manage and track activities at endpoints. Location of things is the sub part of the internet of things and growing demand for internet of things will result in rise oflocation of things market.
Internet of things asset management and location intelligence also uses the location of things technology. Location of things has wide verticals such as defense, government and public utilities, healthcare and life science, industrial manufacturing, retail, media and entertainment and transportation and logistics
The growing adoption of location of things augmented the market growth globally.
According to Market Research Future Analysis, Location of Things Market has been valued at approx. USD 38 Billion by the end of forecast period with 35% of CAGR during forecast period 2019 to 2023.
Market Research Future (MRFR) recognizes the following companies as the key players in the location of things market – Bosch Software Innovations Gmbh (Germany), ESRI (U.S.), Qualcomm Technologies, Inc. (U.S.), Wireless Logic (U.K.), Ubisense Group Plc. (U.K.), Google, Inc. (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Pitney Bowes (U.S.), HERE (U.S.) among others.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
Location of things market is segmented on the basis of location type, application, vertical and regional. The different end use segments of location of things technology are governments and public utilities, retail, defense, healthcare, transportation and logistics, banking, finance, and insurance, and media and entertainment, among others. Of them, the retail sector holds out maximum promise for growth for incumbent and new players on account of the growing practice of integrating location-based technology with retail and e-commerce to better engage with customers.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
LIST OF TABLES
TABLE 1 LOCATION OF THINGS MARKET, BY LOCATION TYPE
TABLE 2 LOCATION OF THINGS MARKET, BY APPLICATION
TABLE 3 LOCATION OF THINGS MARKET, BY VERTICAL
TABLE 4 LOCATION OF THINGS MARKET, BY REGIONS
TABLE 5 NORTH AMERICA LOCATION OF THINGS MARKET, BY LOCATION TYPE
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 LOCATION OF THINGS MARKET, BY LOCATION TYPE (%)
FIGURE 3 LOCATION OF THINGS MARKET, BY APPLICATION (%)
FIGURE 4 LOCATION OF THINGS MARKET, BY VERTICAL (%)
FIGURE 5 LOCATION OF THINGS MARKET, BY REGIONS (%)
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