Location of Things Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Location of Things Market: Snapshot
The location of things market is expected to witness a significant growth in the next few years. The rising penetration of Internet of Things is one of the major factors estimated to accelerate the growth of the overall market in the next few years. The rising used of location-based applications across diverse industries is projected to enhance the growth of the market in the coming years. A significant rise in the use of cloud-based technology is another major factor expected to generate promising growth opportunities for the market players in the next few years.
The rising importance of geospatial data and the commercialization of location-based services are considered as key opportunities for the market players in the global location of things market. On the flip side, several issues related to the privacy of user identity is likely to curtail the growth of the location of things market in the next few years. In addition to this, the rising security concerns is another major factor expected to restrict the growth of the market in the near future. Nonetheless, the increasing use of Internet of Things and the growing demand for cloud-based technology are estimated to boost the demand for location of things in the next few years.
The leading players in the global location of things market are focusing on the development of new products and innovations are estimated to accelerate the growth of the global location of things market in the next few years. The competition in the global market is projected to rise significantly thanks to the increasing number of players expected to enter the global market in the coming few years. Some of the key players operating in the location of things market across the globe are Tibco Software, Inc., Pitney Bowes, Qualcomm Technologies, Inc., Google, Inc., Wireless Logic, Bosch Software Innovations GMBH, ESRI, Microsoft Corporation, Ubisense Group PLC., and IBM Corporation.
Global Location of Things Market: Overview
Internet of Things, a.k.a. IoT, which is disrupting various industries, has an emerging subcategory called the Location of Things. 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.
In today’s hyper connected world where the internet has become ubiquitous, there is a mind boggling amount of data generated every minute. To distil relevant bits filters are required. Location is one such filter that can be applied.
Global Location of Things Market: Key Trends
Location data is swiftly proving to be another data point for input into data analysis. They can be 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, etc. On account of so many location-based applications, location of things market is expanding at a cracking pace.
Rising importance of spatial data and democratization of geospatial data for IoT applications are also boosting the global location of things market.
Global Location of Things Market: Market Potential
Given its potential to revolutionize the functioning of different organizations in the same way data analytics has done, the potential in the location of things market is massive and avenues of growth a dime a dozen.
Location of things is already finding a host of applications ranging from mapping and navigation, IoT asset management, location based customer engagement and advertising platform, and IoT location intelligence to location based social media monitoring. Among them, the segment of mapping and navigation contributes the most to the location of things market. Mapping and navigation technology is used to examine the data or the image generated.
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 improve product distribution, enhance cross-sell and up-sell opportunities, bring down operational costs and better engage with customers.
Global Location of Things Market: Regional Outlook
Geographically, the key segments of the global location of things market are North America, Asia Pacific, Europe, and the Rest of the World. North America, among them, is a dominant market on account of the presence of a copious number of tech savvy entities and massive technological progress and a subsequent solid internet infrastructure. Most importantly, however, the region is home to a large number of domestic solution providers who have pushed up growth in the region.
Global Location of Things Market: Competitive Analysis
Prominent names competing in the global market for location of things are Bosch Software Innovations GMBH, ESRI, Qualcomm Technologies, Inc., Wireless Logic, Ubisense Group PLC., Google, Inc., IBM Corporation, Microsoft Corporation, Pitney Bowes, and Tibco Software, Inc.
The market is characterized by stiff competition and in order to retain their competitive edge, bigger players are constantly on the lookout for opportunities to acquire promising startups.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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