Press release
Location of Things Market Outlook 2023-2032: Growth Drivers, Trends and Future Scenarios
Location of Things Market
Surge in adoption of cloud technology, evolution of IoT, and high demand for real-time location analysis creates significant opportunities for the growth of the LoT market. However, privacy and security of user identity concerns is expected to hamper the market growth.
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LoT has prominent potential in the market and is expected to grow in near future due to spurge in usage of location-based services. LoT helps to pin-point the location, which can be used to navigate, optimize routes, reduce theft by tacking & alerts, and increase in the customer engagement by sending push notification if they are in the vicinity. However, security and privacy is a noteworthy concern regarding LoT solutions.
he market is identified by a stiff and edge-to-edge competition. The large players are adopting acquisition strategy to achieve competitive edge. For instance, Bosch Software Innovations GmbH acquired ProSyst GmbH on February 2016, which has led to improved integrated support for LoT for mobile devices.
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The market for LoT is segmented based on location type, application, industry vertical, and geography. In terms of location type, it is divided into indoor and outdoor locations. Based on application it is classified into mapping & navigation, location-based customer engagement & advertising platform, location-based social media motoring, IoT asset management, and IoT location intelligence.
As per industry vertical, it is categorized into banking, financial services, and insurance, aerospace & defense, healthcare, public sector, IT & telecom, retail, transportation & logistics, and others. By geography, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
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Key Benefits
• This report is an extensive analysis of current and potential market trends in the dynamic global market of LoT.
• The report contains in depth quantitative analysis of current and future market estimations which helps recognize the appealing market opportunities.
• Extensive analysis of the market helps understand the current practices for the better investment decisions.
• Key market players within the LoT market are profiled in this report and their strategies are analyzed thoroughly, which elucidates the competitive outlook of global cloud LoT.
• Extensive analysis of the LoT market is conducted by monitoring the top competitors within the market framework.
• Comprehensive analysis of factors that drive and restrict the growth of the global LoT market is provided.
Comprehensive analysis and profiles of the major market players such as Bosch Software Innovations GmbH, Google, Inc., IBM Corporation, Microsoft Corporation, ESRI Business Information Solutions, Inc., Qualcomm Technologies, Inc., Wireless Logic Inc., Ubisense Group PLC, Pitney Bowes Inc., and HERE Holding Corporation are also provided in this report.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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