Location of Things Market Analysis by Recent Developments and Trends 2023 to 2032

WILMINGTON, DE, UNITED STATES, September 20, 2024 /EINPresswire.com/ -- Location of Things (LoT) is a sub-category of Internet of things (IoT)a network of interconnected objects and devices, which can communicate with one another using various communications modes such as WiFi and Bluetooth. Location is an important attribute of the IoT, which helps devices communicate and comprehend to their physical location by using Bluetooth Low Energy (BLE) technology.

LoT has prominent potential in the market and is expected to grow in near future due to spurge in usage of location-based services. LoT helps to pin-point the location, which can be used to navigate, optimize routes, reduce theft by tacking & alerts, and increase in the customer engagement by sending push notification if they are in the vicinity. However, security and privacy is a noteworthy concern regarding LoT solutions.

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The commercialization of location-based services such as navigation and cab service and growth in adoption of IoT-based products & services drive the market growth. In addition, use of location-based applications by end users fuels the market. However, the security and privacy regarding the identity of the user is the foremost concern in the adoption of cloud retail. Surge in adoption of cloud technology, evolution of IoT, and high demand for real-time location analysis creates significant opportunities for the growth of the LoT market. However, privacy and security of user identity concerns is expected to hamper the market growth.

The market is identified by a stiff and edge-to-edge competition. The large players are adopting acquisition strategy to achieve competitive edge. For instance, Bosch Software Innovations GmbH acquired ProSyst GmbH on February 2016, which has led to improved integrated support for LoT for mobile devices.

The market for LoT is segmented based on location type, application, industry vertical, and geography. In terms of location type, it is divided into indoor and outdoor locations. Based on application it is classified into mapping & navigation, location-based customer engagement & advertising platform, location-based social media motoring, IoT asset management, and IoT location intelligence. As per industry vertical, it is categorized into banking, financial services, and insurance, aerospace & defense, healthcare, public sector, IT & telecom, retail, transportation & logistics, and others. By geography, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

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Comprehensive analysis and profiles of the major market players such as Bosch Software Innovations GmbH, Google, Inc., IBM Corporation, Microsoft Corporation, ESRI Business Information Solutions, Inc., Qualcomm Technologies, Inc., Wireless Logic Inc., Ubisense Group PLC, Pitney Bowes Inc., and HERE Holding Corporation are also provided in this report.

Key Benefits

This report is an extensive analysis of current and potential market trends in the dynamic global market of LoT.
The report contains in depth quantitative analysis of current and future market estimations which helps recognize the appealing market opportunities.
Extensive analysis of the market helps understand the current practices for the better investment decisions.
Key market players within the LoT market are profiled in this report and their strategies are analyzed thoroughly, which elucidates the competitive outlook of global cloud LoT.
Extensive analysis of the LoT market is conducted by monitoring the top competitors within the market framework.
Comprehensive analysis of factors that drive and restrict the growth of the global LoT market is provided.

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