Location Of Things Market is expected to Grow with a CAGR of 20.78% through 2030
The
Location of Things (LoT) market is driven by the increasing demand for
real-time tracking, enhanced logistics, and improved asset management, enabled
by advancements in IoT, GPS, and data analytics technologies.
According
to TechSci Research report, “Location Of Things Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2030”,
the Global Location Of
Things Market was valued at USD 51.89 billion in 2024 and is expected to reach
USD 162.53 billion by 2030 with a CAGR of 20.78% during the forecast period. The proliferation of smart city initiatives worldwide is a major driver of the Location of Things market, as governments and municipalities invest in location-based technologies to enhance urban living. Smart cities rely on interconnected IoT devices to manage resources, monitor infrastructure, and deliver services efficiently. Location-based services (LBS) play a critical role in these ecosystems, enabling applications like real-time public transportation tracking, smart parking, and optimized waste management. For instance, geospatial data from connected sensors helps authorities monitor traffic flow and implement adaptive traffic control systems, reducing congestion and emissions. Furthermore, the integration of LoT in public safety systems, such as disaster management and emergency response, ensures faster and more accurate interventions. This trend is supported by advancements in satellite positioning systems, geographic information systems (GIS), and indoor positioning technologies, which provide high-precision location data even in challenging environments. As urbanization continues and the demand for sustainable city solutions rises, the adoption of LoT technologies in smart cities is poised to grow exponentially, unlocking new opportunities for service providers and stakeholders in the ecosystem.
Browse
over XX Market data Figures spread through XX Pages and an in-depth TOC on
the "Global Location Of Things Market.”
Based on the Application,
Mapping & Navigation segment held the largest Market share in 2024. The
Location of Things (LoT) market within the Mapping & Navigation segment is
experiencing significant growth driven by several key factors. The increasing
adoption of the Internet of Things (IoT) technologies is one of the primary
drivers, enabling seamless integration of location-based services across
multiple devices, sensors, and applications. This connectivity is transforming
traditional navigation systems by making them more accurate, real-time, and
contextually aware. Additionally, advancements in GPS technology and the
proliferation of satellite networks, such as the expansion of the Global
Navigation Satellite System (GNSS), are enhancing the precision and reliability
of location tracking in various industries. The demand for more intelligent,
data-driven navigation solutions is also spurred by the rising need for
real-time traffic management, route optimization, and personalized services,
which are particularly relevant in urban planning, logistics, and
transportation sectors. Furthermore, the increasing reliance on location-based
services in consumer applications like ride-sharing, food delivery, and
personal navigation systems is boosting market growth. The continuous
development of autonomous vehicles and connected infrastructure is another
major contributor, as these technologies require accurate and real-time
location data to navigate complex environments. Moreover, the increasing use of
Geographic Information Systems (GIS) in businesses, governments, and
enterprises to support decision-making, resource management, and service
delivery is propelling the market further. The demand for location intelligence
solutions is expanding in industries such as retail, healthcare, and emergency
response, where mapping and navigation services are critical for improving
operational efficiency and customer experience. The growing trend of smart
cities is also playing a pivotal role in the LoT market, where location-aware
technologies are integral to managing traffic, utilities, and public services.
Additionally, the rise of mobile devices and the expansion of 5G networks are
facilitating faster, more accurate location data processing, thus enabling
real-time navigation and location-based service applications on a global scale.
As businesses continue to realize the value of location intelligence,
investments in mapping and navigation technologies are expected to increase,
further fueling the growth of the Location of Things market. With these factors
combined, the LoT market in the Mapping & Navigation segment is poised for
continued expansion, offering significant opportunities for innovation,
efficiency improvements, and enhanced user experiences across a wide array of
industries.
Based on region, Asia Pacific is the fastest growing region in Location Of Things Market. The Asia-Pacific region is experiencing rapid growth in the Location of Things (LoT) market, driven by the increasing adoption of IoT technologies across various industries. The region's booming urbanization, coupled with government initiatives promoting smart cities, has created a significant demand for location-based services and solutions. Countries like China, India, and Japan are at the forefront, investing heavily in technologies that leverage location data for applications such as fleet management, asset tracking, and geospatial analytics. The widespread adoption of smartphones and advancements in mobile connectivity, including 5G deployment, further enhance the capabilities of LoT solutions in the region. Additionally, the region's thriving e-commerce sector and logistics industry have fueled the need for precise location intelligence to optimize supply chain operations. The growing penetration of wearable devices and the increasing focus on enhancing customer experiences through location-based marketing also contribute to market expansion. Asia-Pacific's large population and diverse geography offer immense opportunities for LoT vendors to develop innovative solutions tailored to local needs, making it the fastest-growing region in this market.
Major
companies operating in the Global Location Of Things Market are:
- Apple,
Inc.
- Alphabet
Inc.
- Qualcomm
Technologies, Inc.
- Pitney
Bowes Inc.
- IBM
Corporation
- HERE
Holding Corporation
- Wireless
Logic Inc.
- Microsoft
Corporation
Download Free Sample Report
Customers
can also request 10% free customization in this report.
“The
Global Location Of Things Market is expected to rise in the upcoming years and
register a significant CAGR during the forecast period. The Location of Things
(LoT) market offers considerable growth potential, fueled by the increasing
demand for real-time tracking and data-driven insights across various sectors.
The rapid adoption of IoT technologies, combined with advancements in GPS, sensor
integration, and cloud computing, creates new opportunities for organizations
to develop innovative solutions in logistics, retail, healthcare, and
transportation. Key market opportunities include enhancing customer engagement
through personalized experiences, optimizing asset management, and streamlining
supply chain operations. Furthermore, the growing emphasis on smart cities,
autonomous vehicles, and location-based services further accelerates the
market’s expansion, promising robust growth prospects. Therefore, the Market of
Location Of Things is expected to boost in the upcoming years.,” said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based global management
consulting firm.
“Location
Of Things Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented, By Location Type (Indoor Location, Outdoor Location), By
Application (Mapping & Navigation, Location-based Customer Engagement &
Advertising Platform, Location-based Social Media Monitoring, IoT Asset
Management, Location Intelligence), By Vertical (BFSI, Defense, Government
& Public Utilities, Healthcare & Life Sciences, Industrial
Manufacturing, Media & Entertainment, Retail & E-Commerce,
Transportation & Logistics, Others), By Region, By Competition, 2020-2030F”, has evaluated the future growth
potential of Global Location Of Things Market and provides statistics &
information on the Market size, structure, and future Market growth. The report
intends to provide cutting-edge Market intelligence and help decision-makers make
sound investment decisions., The report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
Global Location Of Things Market.
Contact
Techsci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States-
10170
Tel: +13322586602
Email: [email protected]