According to research report “Location of Things Market by Location Type (Indoor, Outdoor), Application (Mapping & Navigation, Location-Based Social Media Monitoring, IoT Asset Management, IoT Location Intelligence), Vertical, and Region – Global Forecast to 2022″,published by MarketsandMarkets, the location of things market size is estimated to be USD 5.46 Billion in 2017, and is projected to reach USD 27.22 Billion by 2022, at a CAGR of 37.9% from 2017 to 2022.
Some of the major factors that are driving the growth of the market include increasing importance of spatial data, democratization of geospatial data for IoT applications, and increase in the adoption of location-based applications across various verticals.
Browse 61 market data tables and 60 figures spread through 145 pages and in-depth TOC on “Location of Things Market – Global Forecast to 2022”
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The mapping & navigation segment accounted for the largest share in the location of things market in 2016
The mapping & navigation segment accounted for the largest share of the market in 2016. Mapping and navigation technology is used to study and analyze the data or the image generated. The integration of GIS and interactive mapping technology offer comprehensive solution for facilities and workforce management. Spatial Extraction, Transformation, and Load (ETL) enables organizations to control the data flow by mapping geometry and characteristics of the source data with the destination data.
The retail segment is expected to grow at the highest CAGR during the forecast period
The retail segment is estimated to grow at the highest CAGR during the forecast period. Retail is all about integrating advanced technologies with the existing infrastructure, delivering real-time offers to customers. By linking location-based technology with retail and e-commerce, retailers can find ways to maximize product distribution and come up with cross-sell and up-sell opportunities and also reduce costs of selling new products and improve customer relationships.
North America accounted for the largest share of the location of things market
As per the geographic analysis, North America accounted for largest share of the market in 2016. Technological advancements and followed by robust internet infrastructure, widespread adoption of new technology and presence of a strong domestic solution providers have contributed to the growth of the market in this region.
The major vendors covered in the location of things market for this study include Bosch Software Innovations GMBH (Berlin, Germany), ESRI (California, U.S.), Qualcomm Technologies, Inc. (California, U.S.), Wireless Logic (Berkshire, U.K.), Ubisense Group PLC. (Cambridge, U.K.), Google, Inc. (California, U.S.), IBM Corporation (Armonk, U.S.), Microsoft Corporation (Washington, U.S.), Pitney Bowes (Stamford, U.S.), HERE (Chicago, U.S.), Telogis (California, U.S.), and Tibco Software, Inc. (California, U.S.)
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