DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "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" report to their offering.
The location of things market size is expected to grow from USD 5.46 billion in 2017 to USD 27.22 billion by 2022, at a CAGR of 37.9% from 2017 to 2022.
Factors such as increasing importance of spatial data, democratization of geospatial data for IoT applications, and increase in the adoption of location-based applications across various verticals are driving the location of things market. Privacy issues regarding user identity is the major restraint of this market.
The indoor location segment is expected to grow at a higher CAGR during the forecast period. The technology helps in recording the real-time data to visualize the visitor's behavior and preferences. Earlier, Global Positioning System (GPS) was used. However, due to incapability of receiving signals due to hard walls, the indoor location technology was introduced.
As per the geographic analysis, North America was the largest market for location of things in 2016. Technological advancements, 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 market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Large population, technological advancements, and affluent countries, such as, South Korea, Singapore, and Hong Kong are the major factors for the growth of the location of things market, in this region.
- Increasing Importance of Geospatial Data
- Commercialization of Location-Based Services
- Democratization of Geospatial Data for IoT Applications
- Increasing Use of Location-Based Applications Across Various Verticals
- Privacy Issues Regarding User Identity
- Increase in the Adoption of Cloud-Based Technology
- Evolution of IoT
- Real-Time Location Data Analysis and Asset Management
- Security Concerns
- Bosch Software Innovations GMBH (Berlin, Germany)
- ESRI (California, U.S.)
- Google, Inc. (California, U.S.)
- HERE (Chicago, U.S.)
- IBM Corporation (Armonk, U.S.)
- Microsoft Corporation (Washington, U.S.)
- Pitney Bowes (Stamford, U.S.)
- Qualcomm Technologies, Inc. (California, U.S.)
- Telogis (California, U.S.)
- Tibco Software, Inc. (California, U.S.)
- Ubisense Group PLC. (Cambridge, U.K.)
- Wireless Logic (Berkshire, U.K.)
For more information about this report visit http://www.researchandmarkets.com/research/vpv2vh/location_of