Location of Things (LoT) Market - By Deployment Model (On-premises, Cloud), By Application (Asset Tracking and Management, Smart Cities and Urban Planning, Safety and Emergency Management, Location-based Marketing), By End User, Forecast 2023 - 2032

Published Date: March - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format

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Location of Things Market Size

Location Of Things Market was worth USD 15.3 billion in 2022 and is anticipated to exhibit a CAGR of more than 20% during the forecast period 2023-2032. The increasing need for real-time location analysis is heavily driving the market growth.

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Real-time location information offers instant & vital insights to industries like transportation & logistics and smart cities. This analysis allows for quick decision-making, optimizes operational efficiency, and enables dynamic applications within IoT devices and systems. For example, in October 2023, Nationwide CORS survey network was introduced to offer real-time location mapping & positioning services. By offering accurate geospatial data, this network improves the accuracy of location-based services and data, improving the reliability & effectiveness of IoT and connected devices that depend on accurate positioning.

Location of Things Market Report Attributes
Report Attribute Details
Base Year 2022
Location of Things Market Size in 2022 USD 15.3 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 20%
2032 Value Projection USD 91.5 Billion
Historical Data for 2019 to 2022
No. of Pages 200
Tables, Charts & Figures 283
Segments covered Deployment model, application, and end-user
Growth Drivers
  • Rising adoption of location of things in asset tracking
  • Growing inclination towards smart city development
  • Increasing demand for location-based services and applications
  • Increasing inclination towards location -based advertising
Pitfalls & Challenges
  • Security and privacy concerns

What are the growth opportunities in this market?

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The increasing need for location-based applications and services is driving expansion in location of things markets. With more consumers and businesses depending on location-related features, including navigation, geotagging, and customized services, the market is experiencing a surge in demand. For example, in August 2023, Hanatour unveiled a real-time travel information-sharing app that allows users to get trip-related information and link up with local companions. The app enables trip planning through real-time suggestions, insider knowledge, and the ability to share with other travelers or locals, which increases the overall travel quality.

Security and privacy issues are major challenges to the things location market. With more pervasive location-based information, maintaining the security of sensitive user data and avoiding breaches or misuse is essential. Ensuring the collection of useful location data while maintaining user privacy is complicated. Achieving the proper balance between data value and user personal information protection is the industry's challenge at this time, impacting consumer confidence and regulatory enforcement.

COVID-19 Impact
The COVID-19 pandemic has hastened the use of digital technologies and remote work, resulting in a positive effect on the location of things market demand. With heightened demand for touchless solutions, location of things technologies were used in supply chain optimization, healthcare tracking, and smart cities. This compelled the market to innovate and grow as companies and governments looked for efficient & data driven solutions to deal with challenges amidst the pandemic.

Location of Things Market Trends
Location of things using Augmented Reality (AR) is the amalgamation of location-based experiences and AR technology. AR adds an extra layer by superimposing digital information onto the physical environment, improving navigation and delivering context-relevant information. Real-time, interactive data is available for users, supporting simpler navigation as well as an enrichment of environments with relevant facts. This trend adds a new level to location-based services, providing dynamic & immersive experiences that merge the physical world with digital content, enhancing the capabilities and usability of location-based applications.

The Indoor Positioning System (IPS) is a new market trend that aims to enhance location services in indoor environments. IPS uses technologies like Wi-Fi, Bluetooth, or sensors to provide accurate navigation and location-based services indoors. This innovation serves industries, including retail, healthcare, and logistics. It optimizes operational efficiency, customer experience, and asset management through the delivery of precise indoor navigation and context-aware data in buildings, thereby broadening the uses of location of things technology.

Location of Things Market Analysis

Learn more about the key segments shaping this market

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Based on deployment model, the market is divided into on-premises and cloud. The cloud segment accounted for around 40% of the business share in 2022 and is anticipated to grow due to its capacity for scalable storage, processing power, and accessibility. Cloud-based solutions facilitate the collection, analysis, and sharing of vast location data. As more industries are adopting IoT and location-based services, the cloud's flexibility and cost-effectiveness in handling substantial data volumes and enabling real-time insights are poised to drive significant segment growth within the LoT industry.

Learn more about the key segments shaping this market

Based on application, the location of things market is categorized into asset tracking and management, smart cities and urban planning, safety and emergency management, location-based marketing, and others. The asset tracking and management segment accounted for a business share of over 30% in 2022. The asset tracking and management segment is projected to expand due to the increased demand across industries. Companies seek efficient solutions to monitor and manage assets in real time, boosting operational productivity.

Applications leveraging location-based technology for tracking and managing assets, from inventory in logistics to equipment in manufacturing, are expected to witness increased adoption. The increased adoption can be attributed to the need for streamlined operations, reduced losses, and improved resource utilization, fueling market expansion.

Looking for region specific data?

North America is experiencing growth in the location of things market. The region accounted for a market share of over 30% in 2022 and is slated to register significant growth over the forecast period due to technological advancements and robust adoption of IoT and location-based services. With a high concentration of tech firms and a significant emphasis on smart city initiatives, the region fosters a favorable ecosystem for LoT development. For instance, in October 2023, City of Montreal introduced the Smart Traffic Management project in collaboration with Kapsch TrafficCom. Kapsch is providing its AI-enabled platform to identify dangerous behaviors on the roads and provide real-time traffic insights.

Location of Things Market Share

The major players operating in the location of things industry are

Google and Microsoft dominate the market due to their robust cloud platforms—Google Cloud and Microsoft Azure. Both offer scalable, secure infrastructures supporting location-based services, IoT device management, and seamless integration with geospatial data analytics. Their suite of tools and extensive developer support makes them dominating players in the market.

Location of Things Industry News

  • In August 2023, NEC launched a new Smart City project in India, integrating advanced technologies for urban development. This initiative will augment market growth by enhancing IoT infrastructure, connectivity, and smart services. This will foster improved data-driven urban planning, efficient resource utilization, and innovative location-based applications within the city.

The location of things market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032 for the following segments

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By Deployment Model, 2018 – 2032

  • On-premises
  • Cloud

By Application, 2018 – 2032

  • Asset Tracking and Management
  • Smart Cities and Urban Planning
  • Safety and Emergency Management
  • Location-based Marketing
  • Others

By End User, 2018 – 2032

  • BFSI
  • Retail and E-commerce
  • IT & Telecom
  • Transportation & Logistics
  • Manufacturing
  • Healthcare
  • Government and Public
  • Others

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Southeast Asia
    • ANZ 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa

 

Related Reports

Table of Content

Here’s a Table of Contents (TOC) for a Location of Things (LoT) Market report:

Table of Contents

  1. Executive Summary

    • Market Overview

    • Key Findings

    • Market Size & Growth Projections

    • Competitive Landscape

  2. Introduction

    • Definition & Scope of Location of Things (LoT)

    • Research Methodology

    • Assumptions & Limitations

  3. Market Dynamics

    • Market Drivers

    • Market Restraints

    • Opportunities & Challenges

  4. Market Segmentation

    • By Component

      • Hardware (Sensors, Beacons, Gateways, GPS Modules)

      • Software (Geospatial Analytics, Mapping & Navigation, Location Intelligence)

      • Services (Consulting, Deployment & Integration, Managed Services)

    • By Location Type

      • Indoor Positioning

      • Outdoor Positioning

    • By Application

      • Asset Tracking & Management

      • Location-Based Advertising

      • Navigation & Mapping

      • IoT-Enabled Smart Cities

      • Workforce Management

      • Others

    • By Technology

      • GPS

      • Bluetooth Low Energy (BLE)

      • Wi-Fi Positioning

      • RFID & NFC

      • UWB (Ultra-Wideband)

      • Others

    • By Industry Vertical

      • Retail & E-Commerce

      • Transportation & Logistics

      • Healthcare & Life Sciences

      • Manufacturing & Industrial

      • IT & Telecommunications

      • BFSI (Banking, Financial Services, and Insurance)

      • Smart Cities & Government

      • Others

  5. Regional Analysis

    • North America

    • Europe

    • Asia-Pacific

    • Latin America

    • Middle East & Africa

  6. Competitive Landscape

    • Market Share Analysis

    • Key Player Profiles

    • Recent Developments & Strategies

  7. Technological Trends & Innovations

    • AI & Machine Learning in LoT

    • 5G & Edge Computing in Location Services

    • IoT & Blockchain for Secure Location Data

    • AR/VR & Real-Time Location Intelligence

  8. Regulatory & Compliance Landscape

    • Data Privacy Regulations (GDPR, CCPA, etc.)

    • Industry Standards & Certifications

  9. Market Forecast & Future Outlook (2024-2030)

    • Growth Projections

    • Emerging Trends

    • Strategic Recommendations

  10. Appendix

  • Glossary of Terms

  • References & Sources

 

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