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.
Browse Details of Report @
http://www.grandviewresearch.com/industry-analysis/location-of-things-market
http://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.
About Us:
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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