The location of things market size is estimated to be USD 5.46 Billion in 2017, and is projected to reach USD 27.22 Billion by 2022, at a CAGR of 37.9% from 2017 to 2022. Some of the major factors that are driving the growth of the location of things market include increasing importance of spatial data, democratization of geospatial data for IoT applications, and increase in the adoption of location-based applications across various verticals.
Bosch Software Innovations GMBH (Berlin, Germany), ESRI (California, U.S.), Qualcomm Technologies, Inc. (California, U.S.), Wireless Logic (Berkshire, U.K.), Ubisense Group PLC. (Cambridge, U.K.), Google, Inc. (California, U.S.), IBM Corporation (Armonk, U.S.), Microsoft Corporation (Washington, U.S.), Pitney Bowes (Stamford, U.S.), HERE (Chicago, U.S.), Telogis (California, U.S.), Tibco Software, Inc. (California, U.S.) and others are some of the major companies operating in the location of things market. These players have adopted various growth strategies, such as expansions, acquisitions, partnerships, and new product launches. Partnerships and acquisitions accounted for more than half of the market share of all the growth strategies adopted by the major market players.
Bosch Software Innovations GmbH have been adopting a strategic mix of organic and inorganic growth strategies, such as new product developments, partnerships, acquisitions, and business expansions. In September 2016, Bosch partnered with GE (U.S.) to focus on technology interoperability and platform integration through GE’s Predix operating system and the Bosch IoT Suite.
Similarly, in October 2015, Bosch Software Innovation introduced Production Rule Configurator, a solution for connected manufacturing that will help in making manufacturing processes seamless and transparent by detecting a deviation in the production parameters.
ESRI is adopting partnership and joint ventures to gain a competitive advantage in the location of things market. For instance, in October 2016, ESRI partnered with IBM users and developers to broaden the customer experience by making ESRI data and technology available in the IBM cloud. This enabled IBM customers to accelerate the successful transition to cloud-based geospatial and data mapping capabilities. It even partnered with Maponics in July 2015, a leader in mapping boundary data to provide improvised solutions in the field of geospatial analytics. These products are accessible for utilization in ESRI’s Arc GIS Platform, analytics, and commercial software.
Location of Things Market by Location Type (Indoor, Outdoor), Application (Mapping & Navigation, Location-Based Social Media Monitoring, IoT Asset Management, IoT Location Intelligence), Vertical, and Region - Global Forecast to 2022
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