Global Location Of Things Market Size By Vertical (Retail And E-Commerce, Media And Entertainment), By Location Type (Indoor Location, Outdoor Location), By Application (IoT Asset Management, Location Intelligence), & By Geographic Scope And Forecast

Location Of Things Market and Forecast

Location Of Things Market size is valued at USD 23.85 Billion in 2024 and is anticipated to reach USD 213.71 Billion by 2032, growing at a CAGR of 36.82% from 2026 to 2032.

• In order to provide real-time tracking, monitoring, and administration of physical things, devices, or assets inside a particular geographic area or environment, location-aware technologies like GPS, RFID, Bluetooth, Wi-Fi, or sensors are merged with the concept known as "Location of Things" (LoT).
• By giving linked devices spatial awareness or location intelligence, LoT expands the scope of the Internet of Things (IoT) paradigm and enables contextual awareness, geofencing, and accurate positioning.
• LoT makes it possible for businesses to gather, examine, and make use of the geographical data produced by networked devices in order to improve user experiences, decision-making, and operational efficiency in a variety of sectors and applications.
• Businesses may optimise asset utilisation, expedite logistics, improve supply chain management, and assure regulatory compliance by having real-time access to the actual location of assets or objects.

Global Location Of Things Market Dynamics

The key market dynamics that are shaping the global location of things market include:

Key Market Drivers:

• Improved Asset Visibility: LoT offers real-time asset tracking and monitoring, giving businesses a greater understanding of the whereabouts and conditions of their assets. This improves inventory control, makes better use of assets, and boosts operational efficiency.
• Enhanced Operational Efficiency: LoT allows enterprises to optimise their operations, streamline workflows, and cut costs by optimising route planning, asset allocation, and resource utilisation based on real-time location data, surging their demand. LoT does this by combining location-aware technologies with Internet of Things devices.
• Improved Customer Experience: LoT makes it possible to provide customers with tailored, location-based services including location-based marketing, targeted promotions, and location-based alerts, which raises customer satisfaction and engagement levels.
• Safety and Security: LoT makes it possible to geofence assets and employees and monitor them in real time, which improves safety and security. It enables businesses to react swiftly to emergencies, track assets in transit, and enforce safety protocols in hazardous environments.
• Smart Cities and Infrastructure: LoT plays a crucial role in the development of smart cities and infrastructure by enabling real-time monitoring and management of urban assets, such as traffic lights, streetlights, waste bins, and public transportation systems, leading to improved efficiency, sustainability, and quality of life.

Key Challenges:

• Privacy Concerns: The collection and use of location data raises privacy concerns related to the tracking and monitoring of an individual's movements and activities. Thus, the need to address these privacy concerns by the organizations and comply with regulations such as GDPR and CCPA for ensuring if location data is being used ethically and responsibly is proving challenging.
• Interoperability and Standards: The lack of interoperability and standards between different location technologies and IoT platforms is posing a huge challenge for seamless integration and data exchange between disparate systems, hindering the scalability and adoption of LoT solutions.
• Accuracy and Reliability of Data: The constant need to ensure the accuracy and reliability of location data is challenging the effectiveness of LoT solutions. Additionally, factors such as signal interference, environmental conditions, and device limitations is impacting the accuracy and consistency of location information, necessitating a robust calibration and verification process.
• Security Risks: LoT poses security risks such as unauthorized access, data leakage, and location spoofing attacks. Organizations must implement strict security measures, encryption protocols, and access controls to protect location data and ensure the integrity and confidentiality of sensitive information.
• Infrastructure and Connectivity: Deploying LoT solutions requires robust infrastructure and reliable connectivity, such as GPS satellites, cellular networks, Wi-Fi hotspots, and IoT gateways. Limited network coverage, bandwidth limitations, and connectivity issues can impact the performance and scalability of LoT deployments, especially in remote and rural areas.

Key Opportunities

• Asset Tracking and Management: LoT enables real-time tracking and control of assets, vehicles, and equipment in industries such as logistics, transportation, and supply chain management. This creates opportunities to increase visibility, improve inventory management, and optimize asset utilization, resulting in increased operational efficiency and reduced costs.
• Smart Cities and Urban Planning: LoT technology can be used to build smarter and more efficient cities by providing real-time monitoring of infrastructure, public facilities, and utilities. This includes applications such as smart parking, waste management, environmental monitoring, and traffic management, leading to improved urban planning, sustainability, and quality of life for citizens.
• Indoor Navigation: LoT solutions provide indoor positioning and navigation capabilities, allowing users to navigate complex indoor environments such as airports, shopping malls, hospitals, and large facilities. This creates opportunities to improve customer experience, improve accessibility, and increase sales and business engagement.
• Precision Agriculture: In agriculture, LoT allows farmers to accurately monitor and manage crops, livestock, and equipment. By integrating location data with environmental sensors and crop monitoring systems, farmers can optimize irrigation, fertilization, and pest control practices, leading to higher yields, reduced resource use, and increased durability.
• Emergency Response and Public Safety: LoT technology can improve emergency response and public safety by enabling real-time tracking of personnel, vehicles, and resources during crises such as natural disasters, accidents, and security incidents. This facilitates more effective coordination, faster response times, and improved situational awareness for first responders and emergency management agencies.

Global Location of Things Market Regional Analysis

Here is a more detailed regional analysis of the global location of things market

Asia Pacific

• The Asia-Pacific region is seeing a rapid increase in both urbanization and infrastructure, which is fueling the need for location-based services and solutions to deal with urban issues including resource management, public safety, and traffic congestion.
• As IoT adoption picks up steam in a variety of industries, including manufacturing, transportation, logistics, and smart cities, LoT solutions are finding a home in Asia-Pacific's emerging economies, which include China, India, and Southeast Asian nations.
• The demand for location-based mobile applications and services, like ride-hailing, food delivery, and e-commerce, depending on precise location data and real-time tracking, is being driven by Asia-Pacific's sizable mobile-first population and high smartphone penetration rates.

North America

• North America leads the world in technological innovation and is home to numerous eminent startups, technology companies, and research institutes that propel the Internet of Things, connectivity technologies, and IoT, creating a favourable environment for the growth of the LoT market.
• North America is a leader in the adoption of IoT technologies and smart devices in a number of industries, including retail, healthcare, transportation, and agriculture. Thereby, laying a solid basis for the use of LoT solutions for inventory optimisation, asset management, fleet tracking, and customer engagement.
• North America is home to high-speed networks for connectivity, such as 4G LTE and the soon-to-be 5G networks, enabling smooth data transfer and real-time communication for LoT applications like wearables and linked cars.

Global Location of Things Market: Segmentation Analysis

The Global Location of Things Market is segmented on the basis of Vertical, Location Type, Application, and Geography.

Location of Things Market, By Vertical

• Retail & E-Commerce
• Media & Entertainment
• Industrial Manufacturing
• Healthcare & Life Sciences
• Government & Public Utilities

Based on Vertical, the market is segmented into Retail & E-Commerce, Media & Entertainment, Industrial Manufacturing, Healthcare & Life Sciences, Government & Public Utilities, and Others. The retail & e-commerce segment is anticipated to grow rapidly through the forecast timespan owing to the integration of location-based technology with retail to augment product distribution, provide real-time offers to customers, enhance cross-sell opportunities, combat operational costs, and improve customer engagement.

Location of Things Market, By Location Type

• Indoor Location
• Outdoor Location

Based on Location Type, the market is segmented into Indoor Location and Outdoor Location. The indoor location type is anticipated to grow rapidly as this technology assists in recording real-time data to picture the visitors' preferences. The use of the Global Positioning System was reduced due to the inability of signals to pass through hard walls and hence the indoor location technology was boosted. The indoor location type helps in finding devices, navigating indoor spaces, helping with logistics in the warehouse, and gathering sensitive data.

Location of Things Market, By Application

• IoT Asset Management
• Location Intelligence
• Location-based Customer Engagement & Advertising Platform
• Location-based Social Media Monitoring
• Mapping and Navigation
• Others

Based on Application, the market is segmented into IoT Asset Management, Location Intelligence, Location-based Customer Engagement & Advertising Platform, Location-based Social Media Monitoring, Mapping and Navigation, and Others. Mapping and navigation contribute a major share in the location of things market. This technology is used to examine the image generated or the data acquired. Mapping and navigation using smartphones are very important in everyday life. Wi-Fi is also used increasingly for mapping and navigation for indoor places, where GPS services do not work efficiently. The integration of GIS and mapping technology enables enterprises to control the data flow and assists in workforce management.

Location of Things Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
• On the basis of Geography, the Global Location of Things Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America holds the highest share in the location of things market owing to technological advancements, wide adoption of new technology, the presence of tech-savvy entities and developed IT infrastructure. Furthermore, North America is the home for a large number of domestic vendors, augmenting the Location of Things Market growth. The Asia Pacific is anticipated to grow over the forecast timespan due to its growing population and improvement in technology. Countries, such as Singapore and Hong Kong, are major contributors to the growth of the Location of Things Market in this region.

Key Players

The "Global Location of Things Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are ESRI, Wireless Logic, HERE, Navizon, Inc., Bosch.IO GmbH, Pitney Bowes, Inc., TIBCO (Cloud Software Group, Inc.), Trimble, Inc., Qualcomm Technologies, Inc.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

• Location of Things Market Recent Developments
• In June 2023, Google LLC launched precise location support for its AI chatbot Bard. This integration allows Bard to offer more pertinent information about nearby restaurants and other points of interest. Additionally, users can request Bard to provide concise summaries of articles or stories and quick explanations of various topics without delving into excessive detail.
• In June 2021, Verizon announced the acquisition of Senion, a company known for its indoor positioning platform that utilizes machine-learning sensor fusion technology to provide highly accurate positioning and navigation with sub-meter precision. With his acquisition, Senion's Location Technology team is part of Verizon's New Business Incubation, which is dedicated to expanding new automation businesses. Senion's capabilities complement Verizon's ongoing Digital Space Orchestration offering development through the Location Technology team.