Location of Things Market Report

Location of Things Market Analysis, By Application (Mapping & Navigation, Asset Management, Location Intelligence, Media Engagement), By Vertical, By Region, And Segment Forecasts, 2014 - 2025

Published: August 2017  |  98 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-582-3

Industry Insights

The global location of things market size was valued at USD 5,562.1 million in 2016 and is presumed to gain traction over the forecast period. The increasing penetration of Internet of Things (IoT) and connected device technologies along with the rising demand for location-based services are presumed to bolster the growth of the location of things market.

Rising investments in IoT technologies and increased demand for location-based services are expected to further accelerate the market growth. Companies such as Samsung, Intel, and Qualcomm are making significant investments to create innovation labs focusing on IoT technologies and IoT-enabled services. Innovative technology start-ups such as Pixie Technology, Filament, and Greenwave Systems have managed to secure significant funding through various venture capitalists and collaborations with technology firms. 

North America LoT market revenue by application, 2014 - 2025 (USD Million)

North America LoT market

However, in this connected environment, issues pertaining to privacy and security such as unauthorized access, fraud, system malfunctions, and other risks can hinder the market growth. Various networking challenges related to speed, capacity, complexity, and availability are also anticipated to affect the industry growth.

Application Insights

The mapping and navigation application accounts for nearly 32.6% of the location of things market, acquiring a major share of the overall revenue. IoT enables location tracking and monitoring in a bid to connect different appliances and devices through the internet. It also enables real-time communications with users.

The mapping and navigation technology enables users to track and monitor the movement of various physical devices. This technology is most commonly used in navigation services, where users are able to find the shortest and best route between destinations. The mobile location technology has been gaining a lot of traction for social engagements such as location-based marketing, advertising, location finders, points of interest and others.

Location technologies have various potential uses in industrial sectors, offering applications such as asset management and location intelligence services. Technology firms and service providers are innovating and deploying a wide range of solutions for organizations that can deliver operational efficiencies.

Vertical Insights

Location of things solutions have been widely adopted as they offer a variety of potential uses across various industries. The transportation and logistics vertical is expected to be the highest growing sector followed by the manufacturing and industrial vertical. Advancements in sensor technology, network communication, and location techniques have been a key enabler of various innovative location-based solutions.

Other verticals have found ways to incorporate location technologies to optimize business processes and offer differentiated products. IoT technologies enable a collection of a variety of data with location data being one of the aspects. Organizations utilize this data to identify trends and patterns regarding customer behavior to offer personalization, location-based content, and reduced time-to-delivery.

Global LoT market, by vertical, 2017 (%)

Global LoT market

Regional Insights

The North American region is expected to lead the global location of things market in 2017 with a majority share. Technology proliferation, increased penetration of smartphones, and enhanced network connectivity have led to a faster adoption rate in North America compared to other regions. The presence of major technology players, such as Google, Apple, Qualcomm, and HERE, has led to the growth of the market.

However, the APAC region is expected to be the fastest growing segment, owing to the increased spending on connected devices, investments in various IoT technologies, and increasing demand for personalized services. Organizations are realizing the potential uses of IoT for creating new services and generating new revenue streams, which would ensure future growth of the market.

Competitive Insights

The market is competitive owing to the presence of various prominent players such as Google, HERE, Qualcomm Technologies, Intel Corporation, Trimble, Pitney Bowes, Bosch, Wireless Logic, Navizon, Inc., Tibco Software, and TruePosition Inc., among others.

Industry players have been focusing on inorganic growth strategies involving mergers and acquisitions of smaller firms to augment their service portfolios and gain a larger share of the market. For example, Google’s acquisition of Nest and Intel’s acquisition of Basis have enabled them to gain an easy entry to the IoT market. Similarly, the acquisition of HERE by a consortium of companies has enabled these companies to develop a new range of services and solutions. Major technology players are also investing in innovation labs and centres of excellence and collaborating with various research institutes to further expand their market share.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Representation

Revenue in USD Billion & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, UK, Germany, China, India, Japan, Brazil, and Mexico

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global location of things market on the basis of applications, verticals, and regions:

  • Application Outlook (Revenue, USD Million; 2014 - 2025)

    • Mapping and Navigation

    • Asset Management

    • Location Intelligence

    • Media and Marketing Engagement

  • Vertical Outlook (Revenue, USD Million; 2014 - 2025)

    • Retail and Consumer Goods

    • Government, Defense, and Utilities

    • Manufacturing and Industrial

    • Transportation and Logistics

    • Healthcare

    • Others

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • India

      • China

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa (MEA)

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