What are the latest figures on the location of things market’s size and projected CAGR?
The location of things market size has grown exponentially in recent years. It will grow from $16.13 billion in 2024 to $20.84 billion in 2025 at a compound annual growth rate (CAGR) of 29.1%. The growth in the historic period can be attributed to expansion of smart manufacturing and industry 4.0, rising need for fleet and logistics optimization, increasing use of lot in healthcare for patient monitoring, growing e-commerce and supply chain digitalization, growth of hyperlocal advertising and marketing.
The location of things market size is expected to see exponential growth in the next few years. It will grow to $57.26 billion in 2029 at a compound annual growth rate (CAGR) of 28.8%. The growth in the forecast period can be attributed to growing demand for asset tracking and management, growth of smart cities, expansion of 5g networks, rising demand for location-based services, growth in autonomous vehicles and connected cars. Major trends in the forecast period include proliferation of iot devices, advancements in connectivity technologies, adoption of ai and machine learning, integration with augmented reality (ar) and virtual reality (vr), demand for real-time location systems.
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Which Market drivers have played a significant role in driving the location of things market?
The increasing penetration of connected devices is expected to propel the growth of the location of things market going forward. Connected devices are physical objects equipped with sensors, software, and network connectivity, allowing them to collect, send, and receive data over the Internet or other networks. These devices can interact with other devices and systems, often enabling automation and remote control. The penetration of connected devices is due to improved network connectivity, increased internet access, and a desire for automation, remote control, and improved convenience. The connected devices provide detailed insights into people, assets, and environments, enhancing location-based services. This data will improve decision-making, optimize operations, and enable personalized experiences in retail, logistics, and healthcare. For instance, according to IoT Now, a UK-based magazine and online news source covering the Internet of Things, there were 16.6 billion connected IoT devices in 2023, a 15% increase compared to 2022. Further, connected IoT devices are expected to reach 40 billion by 2030. Therefore, the increasing penetration of connected devices is expected to propel the growth of the location of things market.
What are the key segments within the location of things market?
The location of things market covered in this report is segmented –
1) By Location Type: Indoor Location, Outdoor Location
2) By Deployment Model: On-Premises, Cloud
3) By Application: IoT Asset Management, Location Intelligence, Location-Based Customer Engagement And Advertising Platform, Location-Based Social Media Monitoring, Mapping And Navigation, Other Applications
4) By Industry Verticals: Banking, Financial Services, And Insurance, Aerospace And Defense, Healthcare, Public Sector, Information Technology And Telecom, Retail, Transportation And Logistics, Other Industry Verticals
Subsegments:
1) By Indoor Location: Bluetooth Low Energy (BLE) Beacons, Wi-Fi-Based Indoor Positioning, Ultra-Wideband (UWB), RFID-Based Systems
2) By Outdoor Location: Global Positioning System (GPS), Cellular Network-Based Positioning, Satellite-Based Positioning, Wi-Fi-Based Outdoor Positioning
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Which key players are shaping the location of things market?
Major companies operating in the location of things market are Apple Inc., Google LLC, Microsoft Corporation, IBM Corporation, Intel Corporation, Cisco Systems Inc., Qualcomm Technologies Inc., Zebra Technologies Corporation, Garmin Ltd., Trimble Inc., Pitney Bowes Inc., ESRI Global Inc., Enav S.P.A., HERE Technologies BV, NV5 Holdings Inc., Verizon Connect, TomTom NV, Tibco Software Group Inc., Mapbox Inc., Ubisense Group plc, Kontakt.io Inc., Aerial Data Service Inc., Hellotracks LLC, Deeyook LLC, Phoenix LiDAR Systems Inc.
Which transformative trends will shape the location of things market landscape?
Major companies operating in the location of things market are focusing on developing technologically advanced products, such as 4G vehicle trackers, to offer faster data transmission, wider network coverage, lower latency, and improved reliability. A 4G vehicle tracker is a global positioning system (GPS)-enabled device with 4G LTE connectivity to provide real-time location tracking, route monitoring, and vehicle diagnostics for fleet management, security, and telematics applications. For instance, in August 2023, Jimi IoT, a China-based manufacturer of GPS tracking devices, launched the VL101G INS-Aided IP66-Rated Vehicle Tracker. The VL101G 4G vehicle tracker stands out with its GNSS positioning technology and dual-frequency GPS, ensuring real-time location tracking and highly accurate positioning across various deployments. It features LTE communication with GSM (2G) fallback, maintaining a stable connection even in weak signal areas. Equipped with an inertial navigation system (INS), it provides precise movement data, making it ideal for fleet management. Additional features like driving behavior analysis, ignition detection, and remote engine cut-off enhance security and operational efficiency. Designed for harsh environments, its IP66 rating ensures durability, while the compact design allows discreet installation. Remote management via Jimi IoT’s cloud-based platform makes it user-friendly and easy to monitor.
How do regional factors impact the location of things market, and which region is the largest contributor?
North America was the largest region in the location of things market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the location of things market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Location Of Things Market Report 2025 Offer?
The location of things market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Location of things refers to the networked ecosystem where connected devices and sensors gather, analyze, and utilize location-based data to enhance decision-making and automation. It integrates the Internet of Things (IoT) with geospatial technologies to enable real-time tracking, navigation, and location intelligence across various industries, including logistics, smart cities, healthcare, and retail.
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