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Location of Things (LoT) Market Trends

Report ID: GMI7311
Published Date: Nov 2023
Report Format: PDF

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Location of Things Market Trends

Augmented Reality (AR) in location of things involves the integration of AR technology with location-based experiences. By overlaying digital information onto the real world, AR enhances navigation and provides context-specific data. Users can access real-time, interactive information, aiding in easier navigation and enriching their surroundings with relevant details. This trend brings a new dimension to location-based services, offering dynamic & immersive experiences that combine the physical environment with digital content, expanding the capabilities and usability of location-based applications.

The Indoor Positioning System (IPS) is an emerging trend in the market focusing on refining location services within indoor spaces. IPS employs technologies such as Wi-Fi, Bluetooth, or sensors to enable precise navigation and location-based services inside buildings. This advancement caters to industries, such as retail, healthcare, and logistics. It enhances operational efficiency, customer experiences, and asset management by providing accurate indoor navigation and context-aware information within facilities, thus expanding the applications of location of things technology.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The Location of Things industry was valued at USD 15.3 billion in 2022 and is estimated to register over 20% CAGR between 2023 and 2032.

The asset tracking and management segment accounted for a market share of over 30% in 2022 and will grow through 2032 due to the increased demand for LoT across various industries.

North America location of things market share accounted for over 30% in 2022 and is slated to register significant growth through 2032 owing to the technological advancements and robust adoption of IoT and location-based services.

Google, Inc., Microsoft Corporation, IBM Corporation, Robert Bosch GMBH, Qualcomm Technologies, Inc., Hexagon AB, Pitney Bowes, Inc., Trimble, Inc, Oracle Corporation, and ESRI.