Location of Things Market was valued at USD 38 Billion in 2022 and is projected to reach USD 94 Billion by 2030, growing at a CAGR of 12.3% from 2024 to 2030.
he Location of Things (LoT) market has experienced significant growth from 2018 to 2022, driven by advancements in Internet of Things (IoT) technologies and the increasing demand for location-based services across various industries.n 2017, the market was valued at approximately USD 5.47 billion and is projected to reach USD 27.23 billion by 2022, reflecting a compound annual growth rate (CAGR) of 37.9% during this period.citeturn0search2/p>
his substantial growth can be attributed to several key factors:/p>
Commercialization of Location-Based Services: he proliferation of location-based applications across various sectors has enhanced operational efficiencies and customer engagement./li>
Advancements in IoT Technologies: nnovations in IoT have enabled more accurate and real-time location tracking, facilitating better decision-making processes./li>
Increased Adoption of Cloud-Based Solutions: he shift towards cloud computing has provided scalable and cost-effective platforms for deploying location-based services./li>
ooking ahead, the LoT market is expected to continue its upward trajectory from 2023 to 2033, with projections estimating a market size of USD 216.68 billion by 2030, representing a CAGR of 23.0% from 2023 to 2030.citeturn0search20/p>
everal factors are anticipated to drive this continued growth:/p>
Integration of Advanced Technologies: he incorporation of Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) into LoT applications is expected to enhance user experiences and broaden market applications./li>
Expansion of Smart Cities: he development of smart city initiatives will leverage LoT solutions for improved urban planning, traffic management, and public safety./li>
Growth in Wearable Devices: he increasing adoption of wearable technologies will contribute to the demand for location-based services, particularly in healthcare and fitness sectors./li>
n summary, the Location of Things market has demonstrated robust growth from 2018 to 2022 and is poised for continued expansion through 2033, driven by technological advancements and the escalating demand for location-based services across diverse industries.
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Bosch Software Innovations
IBM
Microsoft
Esri
Qualcomm Technologies
Wireless Logic
Ubisense Group
Pitney Bowes
Telogis
Tibco Software
Gobabl
Zebra Technologies
Awarepoint
Navigine
Geofeedia
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Location of Things Market
Mapping & Navigation
Location-Based Social Media Monitoring
IoT Asset Management
IoT Location Intelligence
Based on Types the Market is categorized into Below types that held the largest Location of Things market share In 2023.
Indoor
Outdoor
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Location of Things Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Location of Things Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Location of Things Market, By Type
6. Global Location of Things Market, By Application
7. Global Location of Things Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Location of Things Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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