Location of Things Market Size was estimated at USD 3 Billion in 2022. The Location of Things market industry is projected to grow and expand from USD 4.05 Billion in 2023 to USD 44.68 Billion by 2032, exhibiting a growth rate or compound annual growth rate (CAGR) of 35% during the projected timeframe (2023 - 2032). The increasing importance of spatial information and the primary concern in adopting cloud retail is that the safety and safeguarding of the client's identity are the key market drivers contributing to market growth and expansion.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rising importance of spatial information drives the Market CAGR for the location of things. The increasing importance of spatial information drives the global Location of Things Market. Spatial information, also known as geospatial information, is a realistic representation of information that aids in interpreting data from all over the world. Ventures that employ conventional apparatuses for jobs or promoting reasons need help breaking down authentic area-based data. With inventive advancements, organizations are concentrating on utilizing geographic information from general data, which essentially supports the Market. It is driven by marketing area-based services, route and taxi management, and advancement in utilizing possibilities and administrations. End-user adoption of location-based apps also drives the Market. Nonetheless, the primary concern in adopting cloud retail is the safety and safeguarding of the client's identity. Nonetheless, the confidentiality and safety of client private data are counted on to deter market expansion.
Additionally, in this rapidly changing world of innovation, the primary factors operating the growth of this Market include the growing importance of geographic data, the democratization of geospatial data for applications related to the IoT, and an increase in the number of Location of Things apps available in various verticals. The invention aids in continuously verifying information to depict the guest's behavior and preferences. Previously, a global positioning framework (GPS) was used to anticipate the visitor's actions. However, the interior area innovation was introduced because of the inability to receive signals due to hard partitions.
The plague has spread to nearly every nation since the COVID-19 infection eruption in December, with WHO declaring Covid sickness 2019 (COVID-19) a pandemic. Our research indicates that outper formers seek growth in all metrics, a center expansion, geographic, occasional value chain, and nearby spaces. The COVID-19 pandemic has had an impact on every industry, including Aerospace and Defense, Agriculture, Food and Beverage, Automobiles and Transport, Physical and Materials, Consumer Products, Retailing, and online shopping, Energy, Pharmaceuticals and Medicine, Shipping, Building, The extraction and Gases, Technology and Semiconductor, Financial services banking and Insurance, ICT, and others.
For instance, Skyhook & Qualcomm Technology, an affiliate of Qualcomm Inc., announced the partnership to offer Wi-Fi location and location-assistance solutions for Qualcomm Snapdragon Watch devices. Thus, demand for Location of Things is anticipated to increase throughout the projected timeframe due to the rising importance of spatial information. Thus, driving the Location of Things market revenue.
The global Location of Things market segmentation, based on Location Type, includes Indoor and Outdoor. The indoor category dominated the Market, accounting for 62% of market revenue (USD 1.9 Billion) in 2022. The indoor setting type is expected to increase significantly as this technology aids in capturing real-time information to picture visitors' preferences. Due to the impossibility of signals penetrating through hard walls, the GPS (Global Positioning System) usage was decreased, so indoor positioning technology was strengthened. The indoor setting type is useful for detecting devices, traversing inside locations, assisting with warehouse operations, and acquiring sensitive data.
Figure 1: Global Location of Things Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The global Location of Things market segmentation, based on Applications, includes IoT Asset Management and IoT Location intelligence. The IoT location intelligence category generated the highest market revenue of about 51% (USD 1.5 billion) in 2022. The logistics and transport vertical is expected to be the most significant growth area, followed by the manufacturing and mechanical Vertical. Advances in sensor creativity, network communication, and area approaches have significantly empowered various innovative area-based setups.
The global Location of Things market segmentation, based on Vertical, includes Retail, Healthcare, Media, Transport, and Logistics. The transport and logistics segment dominated the Market, accounting for 46% of market revenue (USD 1.4 Billion) in 2022. The substantial rise in green constructions, energy-efficient buildings, population expansion, and rising incomes will likely drive the overall Market during the projected timeframe.
Location of Things Regional InsightsThe research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World by region. The North American Location of Things market will dominate during the projected timeframe; innovative advancements, an extensive spectrum of innovations, a solid web foundation, and safe home-grown solution suppliers are expected to be important driving factors for the growth of the Market.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Global Location of Things Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Location of Things market accounts for the second-highest market share due to technical breakthroughs, widespread acceptance of novel technologies, tech-savvy organizations, and sophisticated IT infrastructure. Further, the German Location of Things market holds the largest market share, and the UK Location of Things market is expected to grow and expand significantly in the European region during the projected timeframe.
The Asia-Pacific Location of Things Marketis expected to grow quickly during the projected timeframe. This is due to its expanding population and development in technology. Moreover, China’s Location of Things market dominates the market share, and the Indian Location of Things market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.
Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Location of Things market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with significant market developments including new Location Type portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Location of Things industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the global Location of Things industry to benefit customers and capture untapped market share and revenue. The Location of Things industry has recently offered significant advantages to the IoT and M2M communication industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major Location of Things market players include Bosch Software Innovations Gmbh (Germany), Pitney Bowes (U.S.) IBM Corporation (U.S.) Ubisense Group Plc. (the U.K.) Qualcomm Technologies Inc. (U.S.) ESRI (U.S.) Wireless Logic (U.K.) Google Inc. (U.S.) Microsoft Corporation (U.S.) HERE (U.S.) is attempting to expand market share and demand by investing in R&D operations to produce sustainable, affordable solutions.
Cisco Systems, Inc. is an IT and communications firm that designs, manufactures, and sells Internet Protocol-based networking devices and services. The company operates in three regional segments: North America, EMEA, and Asia-Pacific. Switches, NMI & Modules, Routers, Optical Communication, Network Points, Next-Generation Firewalls, Sophisticated Malware Protection, VPN Clients, and Web Security are among its product categories. Sandra Lerner and Leonard Bosack formed the firm on December 10, 1984, headquartered in San Jose, California. Cisco Systems and Microsoft collaborated in March 2020 to merge their IoTÂ hub offering with Cisco-Edge-to-Microsoft-Azure. It will help in the creation of a wide range of corporate applications.
Amazon Web Services is the globe's most complete and widely used cloud, with over 200 advanced features available worldwide from data centers. It comprises several cloud-based services that anyone may combine to meet the demands of your business or organization. It established a collaboration with HERE, Semtech, and MaxMind on December 13, 2022, to provide inexpensive geographic location track-and-trace features in the AWS IoT Core aimed at low-power IoT gadgets. In addition, AWS has developed an IoT core device position for inexpensive tracking, providing low-power options to GNSS-based position tracking.
Bosch Software Innovations Gmbh (Germany)
Pitney Bowes (U.S.)
IBM Corporation (U.S.)
Ubisense Group Plc. (the U.K.)
Qualcomm Technologies Inc. (U.S.)
ESRI (U.S.)
Wireless Logic (U.K.)
Google Inc. (U.S.)
Microsoft Corporation (U.S.)
HERE (U.S.)
December 2022: Amazon Web Services established a collaboration with HERE, Semtech, and MaxMind on December 13, 2022, to provide inexpensive geographic location track-and-trace features in the AWS IoT Core aimed at low-power IoT gadgets. In addition, AWS has developed an IoT core device position for inexpensive tracking, providing low-power options to GNSS-based position tracking.
October 2022: Mall IQ (the United States), a geographic intelligence and AI Platform, established a collaboration with the ENTERTAINER, a major worldwide supplier of rewards and loyalty solutions, on May 25, 2022, to supply cutting-edge location technology. Mall IQ promises to digitize real-time intent to buy in the real the globe, making data usable and informative for mobile apps.
March 2020 Cisco Systems and Microsoft collaborated in March 2020 to merge their IoT hub offering with Cisco-Edge-to-Microsoft-Azure. It will help in the creation of a wide range of corporate applications.
Indoor
Outdoor
IoT Asset Management
IoT Location Intelligence
Retail
Healthcare
Media
Transport and Logistics
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 3 Billion |
| Market Size 2023 | USD 4.05 Billion |
| Market Size 2032 | USD 44.68 Billion |
| Compound Annual Growth Rate (CAGR) | 35% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Location Type, Application, Vertical, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Bosch Software Innovations Gmbh (Germany) Pitney Bowes (U.S.) IBM Corporation (U.S.) Ubisense Group Plc. (the U.K.) Qualcomm Technologies Inc. (U.S.) ESRI (U.S.) Wireless Logic (U.K.) Google Inc. (U.S.) Microsoft Corporation (U.S.) HERE (U.S.) |
| Key Market Opportunities | Nonetheless, the primary concern in adopting cloud retail is the safety and safeguarding of the client's identity. |
| Key Market Dynamics | The increasing importance of spatial information is driving it. |
Location of Things Market Highlights:
Frequently Asked Questions (FAQ) :
The global Location of Things market size was estimated at USD 3 Billion in 2022.
The worldwide Location of Things market is estimated to grow at a CAGR of 35% during the projected timeframe.
North American area has the highest percentage of the global Market.
The key players in the Location of Things Market are Bosch Software Innovations Gmbh (Germany), Pitney Bowes (U.S.) IBM Corporation (U.S.) Ubisense Group Plc. (the U.K.) Qualcomm Technologies Inc. (U.S.) ESRI (U.S.) Wireless Logic (U.K.) Google Inc. (U.S.) Microsoft Corporation (U.S.) HERE (U.S.).
The Indoor category dominated the Market in 2022.
IoT Location Intelligence had the largest share of the global Market.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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