Location of Things Market to Reach US$ 128.75 Bn at CAGR of 24.5% in 2027

The location of things (LoT) market was valued at US$ 22.32 billion in 2019 and is projected to reach US$ 128.75 billion by 2027. The Location of things (LoT) market is expected to grow at a CAGR of 24.5% during the forecast period of 2020 to 2027.

The global internet infrastructure market is experiencing intense growth with regards to the investments for the introduction of new and advanced technologies to have better access over real-time data. The location of things market consists of some well-established players across the globe, which makes significant investments or adopt strategies to deliver highly advanced service to the users. Government funding for research & development, strategic partnerships between service providers, network operators and government bodies are anticipated to enable huge surges in the market for the location of things over the forecast period. The present generation of mobile networks endures to alter the technique people access information and communicate. The implementation of Location of Things for conducting various businesses adds more sense to the available data. The bolstering demand of IoT connectivity, security, mobile data traffic, and expansion of mobile apps lead to the integration of cloud architecture with the mobile networks to enhance the flexible delivery of services with high speed. Marketers can leverage upon the data produced, and sense the consumer demand based on the trends and patters observed.

The market for Location of Things globally has been segmented into two major segments including application and industry vertical. The application segment is further fragmented by Small Cell, macro cell, and others Mapping & Navigation, Asset Management, Location Intelligence, and Media & Marketing. Whereas the industry vertical is further segmented into Retail, Industrial, Transportation & Logistics, Government & Utilities, Defense, Media & Entertainment, Healthcare, and Others. Geographically the Location of Things market is presently dominated by developed regions including, North America. However, the market is expected to be in favor of APAC. The rising penetration of smartphones in the developing economies of Asia coupled with the rapidly developing internet infrastructures in these regions are proving to be the major drivers for the growth in the adoption of Location of Things technology.

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Location of Things (LoT) Market: Strategic Insights

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Location of Things (LoT) Market Insights

Proliferation of IoT and Connected Devices Over the Network and the Need to Harness Useful Data

Mobile data consumption has witnessed exponential growths in the last few years. On a global level, that data traffic rate has grown at an annual rate of more than 65% over the last five years. Also, between 2018 and 2023, the data traffic is anticipated to grow at a compound annual growth rate of close to 40 percent. As more advanced services and devices emerge, operators need to raise their targeted service quality levels even further. Thus, demand for the location of things (LoT) market will also surge in forecasted period of 2020-2027.

Application -Based Market Insights

The global Location of Things market on the basis of application is categorized into mapping & navigation, asset management, location intelligence, and media & marketing. All the industry sectors use the location based software tools for various purposes. The basic purpose behind using these tools is to organize the data obtained over the internet and put it to meaningful use. Abundant data is available through numerous data points, and the emergence of IoT has just propelled the data explosions. The numerous applications for using location based services are broadly categorized in our study for LoT market.

Industry Vertical -Based Market Insights

The data collected in the LoT model is often taken up from various digital addresses. Thousands of data points encompass the digital address and include IP addresses, social networks, email addresses and GPS coordinates, as well as physical addresses. The geospatial data creates valuable opportunities by creating accurate forecasts for various business verticals. Almost all business verticals have started harnessing the power of geospatial data. In our study for Location of Things market, the market has thus been segmented on the basis of industry vertical into retail, industrial, transportation & logistics, government & utilities, defense, media & entertainment, healthcare, and others

Players operating in the Location of things (LoT) market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the location of things (LoT) market. A few developments by key players of the location of things (LoT) market are:

In February 2019, Skyhook Collaborated with Qualcomm Technologies Inc. a subsidiary of Qualcomm Incorporated, to bring Wi-Fi positioning and location-assistance services based on Qualcomm Snapdragon Wear platforms.

In February 2019, Continual and HERE Technologies collaborated to create a pioneering integrated solution for mobile network operators (MNO), designed to continuously monitor and map the connected experience of users on the move across the entire road network.

Location of Things Market Report Scope

Location of Things (LoT) Market Regional Insights

The regional trends and factors influencing the Location of Things (LoT) Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Location of Things (LoT) Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Location of Things (LoT) Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Location of Things (LoT) Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Location of Things (LoT) Market are:

1. ESRI
2. Alphabet Inc. (Google)
3. HERE Technologies
4. IBM Corporation
5. Microsoft

Disclaimer: The companies listed above are not ranked in any particular order.

Location of Things (LoT) Market – by Application

• Mapping & Navigation
• Asset Management
• Location Intelligence
• Media & Marketing

Location of Things (LoT) Market – by Industry Vertical

• Retail
• Industrial
• Transportation & Logistics
• Government & Utilities
• Defense
• Media & Entertainment
• Healthcare
• Others

Location of Things (LoT) Market – by Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Spain
  • UK
  • Italy
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • Japan
  • Australia
  • Rest of APAC

• MEA

  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA

• SAM

  • Brazil
  • Rest of SAM

Location of Things (LoT) Market – Company Profiles

• ESRI
• HERE technologies
• Navizon Inc.
• Qualcomm Incorporated
• skyhook
• Trimble inc.
• Wireless Logic Limited
• Alphabet Inc. (Google)
• Microsoft
• IBM Corporation