Press release
Location of Things Market Global Analysis By Key Players – IBM, Bosch Software Innovations, Esri, Pitney Bowes, Microsoft, Qualcomm, Google
Location of Things Market
Location of things is a sub-category on the internet of things and location being an important component assists in communicating the physical positions of various things, which boosts the location of things market growth. Furthermore, as the Internet produces a huge amount of data, filtering of the data is necessary to distil relevant information and location is one such filter, which can be applied to spur the industry demand.
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The integration of location of things with cloud technology has recently increased significantly, which is a major opportunity for the location of things market. It takes the advantage of the powerful processing storage capacity of cloud computing for sensing data. This enables the cloud to provide sensing data to multiple applications at the same time. Furthermore, the adoption of real-time data analysis in the location of things market assists the organizations by eliminating errors instantly, improving services, cost saving, and easy detection of fraud.
The location of things market can be segmented on the basis of location type, application, and vertical. The location type consists of indoor location and outdoor location. The indoor location type is anticipated to grow rapidly as this technology assists in recording the real-time data to picture the visitors’ preferences. The use of Global Positioning System reduced due to the inability of signals to pass through hard walls and hence the indoor location technology boosted. The indoor location type helps in finding devices, navigation of indoor spaces, helps with logistics in the warehouse, and gathering sensitive data.
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Application segment of the location of things market includes mapping and navigation, IoT asset management, IoT location intelligence, location-based customer engagement, and location-based social media monitoring. Mapping and navigation contribute a major share in the location of things market. This technology is used to examine the image generated or the data acquired. Mapping and navigation using smart phones are very important in everyday life. Wi-Fi is also used increasingly for mapping and navigation for indoor places, where GPS services do not work efficiently. The integration of GIS and mapping technology enables enterprises to control the data flow and assists in the workforce management.
Location of things market on the basis of vertical is segmented on the basis of defense, government organizations, healthcare, manufacturing, retail, media and entertainment, BFSI, and transport. Of them, the retail segment is anticipated to grow rapidly through the forecast time span owing to the integration of location-based technology with retail to augment product distribution, provide real-time offers to customers, enhance cross-sell opportunities, combat operational costs, and improve the customer engagement.
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North America has the highest share in the location of things market owing to the technological advancements, wide adoption of new technology, the presence of tech savvy entities, and developed IT infrastructure. Furthermore, North America is the home for a large number of domestic vendors, augmenting the location of things market growth.
Prominent companies operating in the location of things market include IBM Corporation, Bosch Software Innovations, ESRI, Pitney Bowes, Microsoft Corporation, Qualcomm Technologies, Wireless Logic, Google, and Tibco Software.
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