In-Depth Analysis of the Location Of Things Market: Growth Opportunities, Key Trends, and Forecast 2025-2034

What market dynamics are playing a key role in accelerating the growth of the location of things market?
As the adoption of interconnected devices grows, it's expected to boost the evolution of the location of things market. Interconnected devices are physical entities embedded with sensors, software, and network capabilities, empowering them to gather, transmit, and obtain data via the internet or other networks. These devices can communicate with other devices and systems, often facilitating automation and distant management. The proliferation of interconnected devices can be attributed to better network connectivity, greater internet accessibility, and a demand for things like automation, remote management, and convenience. Interconnected devices offer in-depth understanding of people, assets, and environments, thereby bolstering location-based services. This information will enhance decision-making, streamline operations, and provide personalized experiences in sectors like retail, logistics, and healthcare. For example, as per an article by IoT Now, a British magazine and online news service that covers the Internet of Things, in 2023, there were 16.6 billion interconnected IoT devices, marking a 15% rise compared to 2022. Moreover, interconnected IoT devices are projected to hit 40 billion by 2030. Thus, the growing adoption of interconnected devices is set to speed up the advancement of the location of things market.

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How will the growth rate of the location of things market shape industry trends by 2034?
The "location of things" market has seen a significant uptick in size over the past several years. Forecasts predict it will climb from a $16.13 billion market in 2024 to one worth $20.84 billion in 2025, with a compound annual growth rate (CAGR) of 29.1%. Factors contributing to this historical growth include the broadening of smart manufacturing and the Industrial Revolution 4.0, an escalating requirement for optimizing fleet and logistics, the growing use of IoT in healthcare specifically in patient monitoring, expansion of e-commerce and digitization of supply chains, and the rise in hyperlocal advertising and marketing.

The market size for the location of things is predicted to experience significant surge in the forthcoming years. It is projected to reach $57.26 billion in 2029, with a compound annual growth rate (CAGR) of 28.8%. This predicted growth in the forecast period can be credited to the escalating demand for asset tracking and management, the development of smart cities, the broadening of 5g networks, the increasing necessity for location-based services, and the rise in autonomous vehicles and connected cars. The key trends during this forecast period are anticipated to be the widespread adoption of IoT devices, progress in connectivity technologies, the implementation of AI and machine learning, integration with augmented reality (AR) and virtual reality (VR), along with the rising demand for real-time location systems.

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What trends are poised to drive the future success of the location of things market?
Significant firms in the location of things marketplace are directing their efforts towards creating cutting-edge technology products, such as 4G vehicle trackers. These products deliver faster data transmission, expansive network coverage, reduced latency, and heightened reliability. A 4G vehicle tracker utilizes global positioning system (GPS) powered by 4G LTE connectivity to deliver real-time location tracking, route surveillance, and vehicle diagnostic data, for applications in fleet management, security, and telematics. For example, Jimi IoT, a GPS tracking device company based in China, introduced the VL101G INS-Aided IP66-Rated Vehicle Tracker in August 2023. With its GNSS positioning system and dual-frequency GPS, the VL101G 4G vehicle tracker offers precise tracking and highly accurate positioning across diverse situations. It includes LTE communication backed by GSM (2G) for guaranteed consistency even in areas with weak connectivity. The addition of an inertial navigation system ensures accurate movement data delivery, making it perfect for fleet management. The device also consists of features such as driving behavior evaluation, ignition identification, and remote engine disablement for increased security and operational efficacy. With an IP66 rating, it's built to withstand harsh conditions and its sleek design allows for unnoticeable installation. Overseeing the device remotely via Jimi IoT's cloud-based platform ensures a user-friendly experience and easy monitoring.

Which primary segments of the location of things market are driving growth and industry transformations?
The location of things market covered in this report is segmented -

1) By Location Type: Indoor Location, Outdoor Location
2) By Deployment Model: On-Premises, Cloud
3) By Application: IoT Asset Management, Location Intelligence, Location-Based Customer Engagement And Advertising Platform, Location-Based Social Media Monitoring, Mapping And Navigation, Other Applications
4) By Industry Verticals: Banking, Financial Services, And Insurance, Aerospace And Defense, Healthcare, Public Sector, Information Technology And Telecom, Retail, Transportation And Logistics, Other Industry Verticals

Subsegments:
1) By Indoor Location: Bluetooth Low Energy (BLE) Beacons, Wi-Fi-Based Indoor Positioning, Ultra-Wideband (UWB), RFID-Based Systems
2) By Outdoor Location: Global Positioning System (GPS), Cellular Network-Based Positioning, Satellite-Based Positioning, Wi-Fi-Based Outdoor Positioning

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Which geographical regions are pioneering growth in the location of things market?
North America was the largest region in the location of things market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the location of things market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the location of things market landscape?
Major companies operating in the location of things market are Apple Inc., Google LLC, Microsoft Corporation, IBM Corporation, Intel Corporation, Cisco Systems Inc., Qualcomm Technologies Inc., Zebra Technologies Corporation, Garmin Ltd., Trimble Inc., Pitney Bowes Inc., ESRI Global Inc., Enav S.P.A., HERE Technologies BV, NV5 Holdings Inc., Verizon Connect, TomTom NV, Tibco Software Group Inc., Mapbox Inc., Ubisense Group plc, Kontakt.io Inc., Aerial Data Service Inc., Hellotracks LLC, Deeyook LLC, Phoenix LiDAR Systems Inc.

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What Is Covered In The Location Of Things Global Market Report?

•Market Size Forecast: Examine the location of things market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the location of things market for a structured understanding.
•Key Players Overview: Analyze major players in the location of things market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the location of things market.
•Segment Contributions: Evaluate how different segments drive overall growth in the location of things market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the location of things market.
•Industry Challenges: Identify potential risks and obstacles affecting the location of things market.
•Competitive Landscape: Review strategic developments in the location of things market, including expansions, agreements, and new product launches.

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