Sellbyville, DE -- (SBWIRE) -- 02/15/2019 -- North America has the highest share in the Location Of Things Market owing to the technological advancements, wide adoption of new technology, the presence of tech savvy entities, and developed IT infrastructure. Furthermore, North America is the home for a large number of domestic vendors, augmenting the location of things market growth.

The adoption of location-based applications across various domains is anticipated to grow the location of things market lucratively over the forecast time span. Businesses are using location-based applications to directly communicate with their customers through mobile phones. This has resulted in an increase in the adoption of smartphones and the development of location-based technologies.

Location of things market provides important information, which can be used for optimizing routes, lessening larceny, and loss of assets through proper tracking of the location, providing vital information of machine breakdown, and improving customer experience by sending messages on their smartphones when they are in the locality. Due to these important uses, the location of things market is growing rapidly.

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The location of things market can be segmented on the basis of location type, application, and vertical. The location type consists of indoor location and outdoor location. The indoor location type is anticipated to grow rapidly as this technology assists in recording the real-time data to picture the visitors' preferences. The use of Global Positioning System reduced due to the inability of signals to pass through hard walls and hence the indoor location technology boosted. The indoor location type helps in finding devices, navigation of indoor spaces, helps with logistics in the warehouse, and gathering sensitive data.

Application segment of the location of things market includes mapping and navigation, IoT asset management, IoT location intelligence, location-based customer engagement, and location-based social media monitoring. Mapping and navigation contribute a major share in the location of things market. This technology is used to examine the image generated or the data acquired. Mapping and navigation using smart phones are very important in everyday life. Wi-Fi is also used increasingly for mapping and navigation for indoor places, where GPS services do not work efficiently. The integration of GIS and mapping technology enables enterprises to control the data flow and assists in the workforce management.

Location of things market on the basis of vertical is segmented on the basis of defense, government organizations, healthcare, manufacturing, retail, media and entertainment, BFSI, and transport. Of them, the retail segment is anticipated to grow rapidly through the forecast time span owing to the integration of location-based technology with retail to augment product distribution, provide real-time offers to customers, enhance cross-sell opportunities, combat operational costs, and improve the customer engagement.

Asia Pacific is anticipated to grow over the forecast time span due to its growing population and improvement in technology. Countries, such as Singapore and Hong Kong, are major contributors to the growth of the location of things market in this region.

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Prominent companies operating in the location of things market include IBM Corporation, Bosch Software Innovations, ESRI, Pitney Bowes, Microsoft Corporation, Qualcomm Technologies, Wireless Logic, Google, and Tibco Software.

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