SAN FRANCISCO, September 13, 2017
SAN FRANCISCO, September 13, 2017 /PRNewswire/ --
The global location of things market is expected to reach USD 71.6 billion by 2025, growing at a CAGR of 34.07%, according to a new study by Grand View Research Inc. The increasing penetration of smartphones and enhanced network connectivity coupled with the increasing demand for personalized services are propelling the market growth.
Location of things is an emerging sub-category of the IoT concept that enables connected devices to monitor and communicate their geographic location. Enabled by IoT sensors and location technologies embedded into various connected devices allows organizations and service providers to collect a variety of data over the network. Over the years, a variety of location-based services has been introduced, such as Google Maps, Uber, Waze, and many others, which have been enabled by the ability of a smartphone to locate itself. Location being the most vital dimension of the data collected allows service providers to provide contextual content for each user.
Advancements in connected wearable devices, connected vehicles, connected homes, smart cities, and Industrial IoT (IIoT) are bound to open extensive market avenues for the location of things market in the coming years. However, issues related to privacy and safety along with universally accepted standards are expected to challenge the industry.
Browse full research report with TOC on "Location of Things Market Analysis, By Application (Mapping & Navigation, Asset Management, Location Intelligence, Media Engagement), By Vertical, By Region, And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/location-of-things-market
Further key findings from the report suggest:
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Grand View Research has segmented the location of things market on the basis of applications, verticals, and regions:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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