Location of Things Market Size, Share, And Growth Report 2032

Location of Things Market: Size

The global Location of Things market size was worth around USD 20.97 billion in 2023 and is predicted to grow to around USD 370.88 billion by 2032 with a compound annual growth rate (CAGR) of roughly 37.6% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Location of Things market on a global and regional level.

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Location of Things Market: Overview

Location of Things (LoT) is a sub-division of (IoT) Internet of things. It is a system of interconnected devices that can communicate with each other by communications modes, such as Bluetooth, Wi-Fi, and Near Field Communication (NFC). Location is a critical characteristic of the internet of things technology, as it helps the devices to comprehend and analyze the current location by using Bluetooth Low Energy technology (BLE).

The location of things market is expected to grow substantially in the years ahead, owing to the rising use of location-based services. Moreover, the technology helps to find different routes and sends push notifications enabling effective customer engagement. This technology is also helpful in reducing theft by tracking and alerts. The commercialization of location-based services, cab services, and navigation coupled with the surging adoption of IoT-based services and products are also driving the location of things market growth. Moreover, the growing use of location-based applications by end-users will also drive this global market. Additionally, the rising adoption of cloud-based technology, substantial developments related to IoT, and increasing demand for real-time location analysis are further anticipated to create growth opportunities for the location of things market in the future. However, the privacy and security regarding an individual’s identity is the prime concern that may hinder the location of things market development in the years ahead.

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Location of Things Market: Segmentation

By location type, the location of things market is bifurcated into indoor and outdoor location. Both segments are anticipated to experience rapid growth in the years ahead. The indoor location type might even surpass the outdoor location in relation to CAGR. The indoor location segment has gained a lot of popularity ever since its inception, as it allows real-time data recording for analyzing a visitor’s behaviors and preferences. The technology is likely to have an upper hand over the global positioning system (GPS), as the global positioning system falls short of receiving signals due to hard walls.

Location of Things Market: Report Scope

Location of Things Market: Regional Analysis

North America will hold a sizeable share of the location of things market globally in the future, due to the rising penetration of smartphones, technology proliferation, and faster network connectivity. Moreover, the presence of prominent players in the U.S. and various technological advancements will majorly contribute to the region’s location of things market growth. Furthermore, the developing countries in the Asia Pacific like India and China will positively influence the location of things market growth across the globe.

Location of Things Market Key Players

Some major players of the location of things market are:

• Google
• Bosch Software Innovations
• Microsoft
• Qualcomm Technologies
• IBM
• ESRI
• Ubisense Group
• Wireless Logic
• HERE
• Pitney Bowes
• TIBCO Software
• Telogis

This report segments the global location of things market into:

Global Location of Things Market: Location Type Analysis

• Indoor Location
• Outdoor Location

Global Location of Things Market: Application Analysis

• Location-Based Social Media Monitoring
• Location-Based Customer Engagement and Advertising Platform
• IoT Location Intelligence
• IoT Asset Management
• Mapping and Navigation

Global Location of Things Market: Vertical Analysis

• Government and Defense
• Industrial Manufacturing
• Healthcare
• Retail
• Media and Entertainment
• BFSI
• Transportation and Logistics
• Others

Global Location of Things Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa