At a compound annual growth rate of 36.38%, the size of the worldwide Location of Things market is projected to reach USD 161.31 Billion in 2028.
Growing investments in IoT technologies along with surged demand for location-based services are accelerating the market growth. Companies including Intel, Qualcomm, and Samsung, are diverting their investments to develop innovation labs that are focused on and IoT-enabled services and IoT technologies. The rising penetration of connected device technologies and internet of things (IoT) coupled with growing demand for location-based services are expected to favor the market growth.
The aim of the report is to estimate the size of the market for Location of Things and the future growth potential of the market for Location of Things across various segments, such as Application, Type, Organization Size, and End-Use.
The base year considered for the analysis is 2019 and from 2020 to 2025 the market size is estimated. Increasing business's focus toward enhancing value chain management, reducing production costs, gaining competitive skills, and delivering higher customer satisfaction, and improving internal functioning, has substantially escalated the industry growth.
In the End Use, the retail sector is anticipated to hold a substantial share. In retail, Location of things refers to an interconnected system of sensors and devices, which retailers use to streamline business operations through identifying location of assets, inventory, and human resources. As a result, location-based solutions are turning necessary for retailers to analyze customer requirements and purchasing behavior in order to improve business operations and strategies to offer a better customer experience, which in turn is driving the industry growth.
In addition, North America is expected to hold a significant share, owing to the inclination toward the adoption of emerging technologies. The high adoption of cloud hosting and IOT for multiple operations across organizations in various industries is stimulating the industry size. The presence of multiple players in the region offering Indoor has further complemented the industry growth in the region.
Location of Things Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 161.31 Billion|
|Growth Rate||CAGR of 36.38% during 2021-2028|
|Segment Covered||By Vertical, By Location Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||IBM Corporation, Google, Inc. (Alphabet, Inc.), Bosch Software Innovations GmbH, Microsoft Corporation, ESRI, Qualcomm Technologies, Inc., Wireless Logic, Ubisense Group Plc, Pitney Bowes, and TIBCO Software, Inc.|
Key Segments of the Global Location of Things Market
Application Overview, 2018-2028 (USD Million)
- Mapping & Navigation
- Location-Based Social Media Monitoring
- IoT Asset Management
- IoT Location Intelligence
Type Overview, 2018-2028 (USD Million)
End-Use Overview 2018-2028 (USD Million)
- Media & Entertainment
- Telecom & IT
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in Global Location of Things market
- Bosch Software Innovations GmbH
- Google, Inc.
- IBM Corporation
- Microsoft Corporation
- Qualcomm Technologies, Inc.
- Wireless Logic
- Ubisense Group PLC.
- Pitney Bowes
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of Location of Things Market Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on Location of Things Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on solution, service, and industry End-Use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Location of Things Market. The report will benefit: Every stakeholder involved in the Location of Things Market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about Location of Things Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Location of Things Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.