According to a research report “Location of Things Market by Location Type (Indoor, Outdoor), Application (Mapping & Navigation, Location-Based Social Media Monitoring, IoT Asset Management, IoT Location Intelligence), Vertical, and Region – Global Forecast to 2022″, published by MarketsandMarkets, the location of things market size is estimated to be USD 5.46 Billion in 2017, and is projected to reach USD 27.22 Billion by 2022, at a CAGR of 37.9% from 2017 to 2022. Some of the major factors that are driving the growth of the market include increasing importance of spatial data, democratization of geospatial data for IoT applications, and increase in the adoption of location-based applications across various verticals.
Browse 61 market data tables and 60 figures spread through 145 pages and in-depth TOC on “Location of Things Market – Global Forecast to 2023″
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North America accounted for the largest share of the location of things market
As per the geographic analysis, North America accounted for largest share of the market in 2016. Technological advancements and followed by robust internet infrastructure, widespread adoption of new technology and presence of a strong domestic solution providers have contributed to the growth of the market in this region.
The major vendors covered in the location of things market for this study include Bosch Software Innovations GMBH (Berlin, Germany), ESRI (California, U.S.), Qualcomm Technologies, Inc. (California, U.S.), Wireless Logic (Berkshire, U.K.), Ubisense Group PLC. (Cambridge, U.K.), Google, Inc. (California, U.S.), IBM Corporation (Armonk, U.S.), Microsoft Corporation (Washington, U.S.), Pitney Bowes (Stamford, U.S.), HERE (Chicago, U.S.), Telogis (California, U.S.), and Tibco Software, Inc. (California, U.S.)
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Bosch Software Innovations GmbH has been adopting a strategic mix of organic and inorganic growth strategies, such as new product developments, partnerships, acquisitions, and business expansions. In September 2016, Bosch partnered with GE (U.S.) to focus on technology interoperability and platform integration through GE’s Predix operating system and the Bosch IoT Suite. Similarly, in October 2015, Bosch Software Innovation introduced Production Rule Configurator, a solution for connected manufacturing that will help in making manufacturing processes seamless and transparent by detecting a deviation in the production parameters.
ESRI is adopting partnership and joint ventures to gain a competitive advantage in the location of things market. For instance, in October 2016, ESRI partnered with IBM users and developers to broaden the customer experience by making ESRI data and technology available in the IBM cloud. This enabled IBM customers to accelerate the successful transition to cloud-based geospatial and data mapping capabilities. It even partnered with Maponics in July 2015, a leader in mapping boundary data to provide improvised solutions in the field of geospatial analytics. These products are accessible for utilization in ESRI’s Arc GIS Platform, analytics, and commercial software.
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