Location of Things Market to Reach US$ 128.75 Bn at CAGR of 24.5% in 2027

Location of Things (LoT) Market to 2027 - Global Analysis and Forecasts by Application (Mapping & Navigation, Asset Management, Location Intelligence, and Media & Marketing); and Industry Vertical (Retail, Industrial, Transportation & Logistics, Government & Utilities, Defense, Media & Entertainment, Healthcare, and Others)

Publication Month : Mar 2019

  • Report Code : TIPTE100001151
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 141
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The location of things (LoT) market was valued at US$ 22.32 billion in 2019 and is projected to reach US$ 128.75 billion by 2027. The Location of things (LoT) market is expected to grow at a CAGR of 24.5% during the forecast period of 2020 to 2027.

The global internet infrastructure market is experiencing intense growth with regards to the investments for the introduction of new and advanced technologies to have better access over real-time data. The location of things market consists of some well-established players across the globe, which makes significant investments or adopt strategies to deliver highly advanced service to the users. Government funding for research & development, strategic partnerships between service providers, network operators and government bodies are anticipated to enable huge surges in the market for the location of things over the forecast period. The present generation of mobile networks endures to alter the technique people access information and communicate. The implementation of Location of Things for conducting various businesses adds more sense to the available data. The bolstering demand of IoT connectivity, security, mobile data traffic, and expansion of mobile apps lead to the integration of cloud architecture with the mobile networks to enhance the flexible delivery of services with high speed. Marketers can leverage upon the data produced, and sense the consumer demand based on the trends and patters observed.

The market for Location of Things globally has been segmented into two major segments including application and industry vertical. The application segment is further fragmented by Small Cell, macro cell, and others Mapping & Navigation, Asset Management, Location Intelligence, and Media & Marketing. Whereas the industry vertical is further segmented into Retail, Industrial, Transportation & Logistics, Government & Utilities, Defense, Media & Entertainment, Healthcare, and Others. Geographically the Location of Things market is presently dominated by developed regions including, North America. However, the market is expected to be in favor of APAC. The rising penetration of smartphones in the developing economies of Asia coupled with the rapidly developing internet infrastructures in these regions are proving to be the major drivers for the growth in the adoption of Location of Things technology.

Lucrative Regions in Location of things (LoT) Market

Lucrative Regions in Location of things (LoT) Market
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Location of Things (LoT) Market Insights

Proliferation of IoT and Connected Devices Over the Network and the Need to Harness Useful Data

Mobile data consumption has witnessed exponential growths in the last few years. On a global level, that data traffic rate has grown at an annual rate of more than 65% over the last five years. Also, between 2018 and 2023, the data traffic is anticipated to grow at a compound annual growth rate of close to 40 percent. As more advanced services and devices emerge, operators need to raise their targeted service quality levels even further. Thus, demand for the location of things (LoT) market will also surge in forecasted period of 2020-2027.

Application -Based Market Insights

The global Location of Things market on the basis of application is categorized into mapping & navigation, asset management, location intelligence, and media & marketing. All the industry sectors use the location based software tools for various purposes. The basic purpose behind using these tools is to organize the data obtained over the internet and put it to meaningful use. Abundant data is available through numerous data points, and the emergence of IoT has just propelled the data explosions. The numerous applications for using location based services are broadly categorized in our study for LoT market.

Location of things (LoT) Market, by Application – 2019 and 2027

Location of things (LoT) Market, by Application – 2019 and 2027
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Industry Vertical -Based Market Insights

The data collected in the LoT model is often taken up from various digital addresses. Thousands of data points encompass the digital address and include IP addresses, social networks, email addresses and GPS coordinates, as well as physical addresses. The geospatial data creates valuable opportunities by creating accurate forecasts for various business verticals. Almost all business verticals have started harnessing the power of geospatial data. In our study for Location of Things market, the market has thus been segmented on the basis of industry vertical into retail, industrial, transportation & logistics, government & utilities, defense, media & entertainment, healthcare, and others

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Location of Things (LoT) Market: Strategic Insights

location-of-things-lot-market
Market Size Value inUS$ 22.32 Billion in 2019
Market Size Value byUS$ 128.75 Billion by 2027
Growth rateCAGR of 24.5% from 2020-2027
Forecast Period2020-2027
Base Year2019
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Players operating in the Location of things (LoT) market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the location of things (LoT) market. A few developments by key players of the location of things (LoT) market are:

In February 2019, Skyhook Collaborated with Qualcomm Technologies Inc. a subsidiary of Qualcomm Incorporated, to bring Wi-Fi positioning and location-assistance services based on Qualcomm Snapdragon Wear platforms.

In February 2019, Continual and HERE Technologies collaborated to create a pioneering integrated solution for mobile network operators (MNO), designed to continuously monitor and map the connected experience of users on the move across the entire road network.

Location of Things (LoT) Market – by Application

  • Mapping & Navigation
  • Asset Management
  • Location Intelligence
  • Media & Marketing


Location of Things (LoT) Market – by Industry Vertical

  • Retail
  • Industrial
  • Transportation & Logistics
  • Government & Utilities
  • Defense
  • Media & Entertainment
  • Healthcare
  • Others


Location of Things (LoT) Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Spain
    • UK
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • Australia
    • Rest of APAC
  • MEA

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • SAM

    • Brazil
    • Rest of SAM

Location of Things (LoT) Market – Company Profiles

  • ESRI
  • HERE technologies
  • Navizon Inc.
  • Qualcomm Incorporated
  • skyhook
  • Trimble inc.
  • Wireless Logic Limited
  • Alphabet Inc. (Google)
  • Microsoft
  • IBM Corporation
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Application ; and Industry Vertical

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. ESRI
  2. Alphabet Inc. (Google)
  3. HERE Technologies
  4. IBM Corporation
  5. Microsoft
  6. Navizon Inc.
  7. Qualcomm Incorporated
  8. Skyhook
  9. Trimble Inc.
  10. Wireless Logic Limited

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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