Location of things is a sub category of the internet of things. Location is the vital area of the IoT concept which encompasses the ability of things to sense and provide the geographic position. Location of the things has been risen by the introduction of a global positing system 20 years back. Location based services such as Google maps, Uber, Waze, foursquare, and many more are the examples of the location of things. The growing number of things which are connected to the internet is growing.. GPS is a single part of the location based services as GPS fail to work with the people or content inside building. Thus, indoor positioning system was created as a part of the location of things.
The market is segmented on the basis of location, verticals and application. Location of things is widely used in mapping and navigating. It is also used by location based customers engagement and advertising platform market and in social media monitoring. Internet of things asset management and location intelligence also uses the location of things technology. Location of things has wide verticals such as defense, government and public utilities, healthcare and life science, industrial manufacturing, retail, media and entertainment and transportation and logistics. The growing adoption of location of things augmented the market growth globally.
Asia pacific region is expected to grow highest rate in the future. As Asia pacific region has large population and growing technological advancement which is leading to the market growth. . The growing industrial sector in Asia pacific regions are widely adopting internet of things, with the technological innovations and growing internet infrastructure. The adoption of internet of things improves business efficiency and visibility by IoT enabled remote monitoring and maintenance. As location of things, help enterprises to have visisbility on their business activity regardless of their location and are able to moniter, manage and track activities of endpoints for gaining valuable information. Location of things is the sub part of the internet of things and growing demand of internet of things will increase the location of things market. Growing healthcare sector in APAC region are also growing the location of things market as adoption of internet of things improves patient monitoring and reduce cost of maintenance in the modern healthcare industry.
The major key players of the location of things market are Bosch software innovation Gmbh, Google Inc, IBM corporation, Microsoft corporation, ESRI, Wireless logic, QUALCOMM technologies, Ubisense group, Pitney bowes, Telogis, Tibco software, Zebra technologies, Here, Aware point corporation and Navigine. These companies used various strategies such as, mergers and acquisitions, product launches and collabration etc. to increase market share. The companies are primarily following merger and acquisition strategies to withstand in the market. For instance, In 2016, Google acquired Urban engines to incorporate its location-based analytics into Google maps. IBM acquired The weather Company’s B2B data business and associated properties to enhance its internet of things.