Million Insights researchers finds the global location of things (LoT) market size was valued at $5,562.1 million in 2016 and is expected to reach $71.6 billion by 2025, with a CAGR of 34.07%. The location of things market by indoor type includes indoor location and outdoor location. Business has changed color from the stereotype to a more vibrant and inclusive role thanks to penetrative power of internet and rolling out of Internet of Things (IoT) between devices. Internet of Things (IoT) convergence has extended beyond the ordinary to foster growth in a similar market-intensive identity named Location of Things (LoT) market giving detailed and incisive insights in social-media management (SMM) monitoring to real-time asset maintenance and there is no stopping growth in location of things market.
- Expansion has led to device expression and remote location based authorization of device parameters and device-prioritization for instance covering connected cars, connected home, smart city, mobile advertising and ambient intelligence boosting technological upgrades in LoT market.
- Advertising in every nook of the city with out of home (OOH) technology and IoT is gaining root.
- On an upside, the LoT market will gain increasingly due to personal vehicle connectivity with enhanced telecommunication and collaboration technologies and all-round gains are predicted.
- By vertical, the market includes government and public utilities, defense, transportation and logistics, industrial manufacturing, healthcare and life sciences, retail, BFSI, media and entertainment and others.
- By region, location of things market includes North America, Europe, Asia pacific, MEA and Latin America. As per industry news, Intel Capital is financing an IoT technological arm focusing on technology enunciation including 3D-scanning and biometric sensors, 3D biometric sensors and wearable sand IoT infrastructure start-ups. Software and services market will be a multi-billion-dollar market and growth in number of interconnected devices will exhibit enhanced market drive.
- By location, connected cities market is exhibiting profound growth in location of things market.
- Key players include Bosch Software Innovations GmbH, ESRI, Qualcomm Technologies, Wireless Logic, Ubisense Group, PLC, Google, Inc., IBM Corporation, Microsoft Corporation, Pitney Bowes, HERE, Telogis, and Tibco Software.
Should you require deeper insights, browse the "Global Location of Things (LoT) Market" report.