Current Business Affairs Global Location of Things Market 2018

Location of Things Market Analysis by Location Type, By Application , By
Vertical, and By Region Forecast, 2017 - 2025
Market Definition:
The global location of things market was estimated as USD 5.4 Billion in 2016 and is expected to reach USD 71.3 Billion
by 2025, growing significantly with a CAGR of over 33% during the forecast period. Increasing penetration of Internet of
Things (IoT) and connected device technologies, rising significance of spatial data and growing adoption of location-
based applications across various industries are the major factors fuelling the growth of the market.
The location of things (LoT) is a subcategory of the internet of things where location acts as an organizing principle for
anything that is connected to the Internet. The location of things is an aspect of the IoT, which allows the things to sense
and communicate their geographic position to other things. The concept of LoT has allowed connected devices to
monitor and communicate their geographic location for transferring the information. The systems enabled with IoT
sensors and location technologies, are embedded into various connected devices allowing organizations and service
providers to collect a variety of data over the network.
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Market Analysis with Latest Growth Factors:
The LoT is based on the concept of foundational challenge of transforming data into knowledge. It requires a new set of
supporting location analytics that existing business intelligence analytics tools cannot support. The main goal of location
analytics is to utilize thing’s location, proximity, and distance to understand business impact over time. Issues related to
privacy and security such as unauthorized access, system malfunctions, fraud and other risks are expected to hamper
the growth of the market.
Major Key Players:
The prominent players involved in the development of LoT industry includes, Google, Qualcomm Technologies, Intel
Corporation, Trimble, Pitney Bowes, Bosch, Wireless Logic, Navizon, Inc., TruePosition Inc., Ubisense Group PLC, IBM
Corporation and Microsoft Corporation among all the others. On September 26, 2017, Pitney Bowes Inc. announced an
extension of its data and software solutions, which incorporates address, location and customer data information to
create a single view of a customer. This will allow spectrum technology included in location intelligence segment to
deliver a set of skills to transform business and infrastructure data into insights. This may help public and private
organizations to use this data and provide better experiences to individuals they serve. Other players are similarly