Location of Things Accepts Demand with Both Hands as Geospatial Data Democratization for IoT Applications Creates Opportunities

The global location of things market is anticipated to exhibit impressive growth with increasing demand from different verticals. Improving significance of spatial data, democratization of geospatial data for IoT applications, and rise in adoption of location-based applications in various sectors could be some of the primary factors augmenting the demand in the market. Players may want to cash in on swelling demand for location of things ensued from commercialization of location-based services.

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Microsoft Azure Maps’ principal product manager, Chris Pendleton will be sharing in an upcoming AI event for growth marketers how everything from autonomous cars to connected cities will be revolutionized with the use of advanced location technology. Scheduled on August 21 and 22, 2018, Transform will be conducted in Mill Valley, CA. In the VB Live event, viewers will understand how Microsoft is employing location data to map the future.

Customization of Location of Things-enabled Tags Propels Demand in Retail

The retail industry is expected to swell the demand in the world location of things market with increasing requirement of location of things-enabled tags. Using these tags, retailers can easily track high-value products.

  • Furthermore, location of things-enabled tags could be customized to allow customers to receive more information about the products with the use of smartphones. This will enable customers to make informed decisions during their purchase.

  • Today, even GPS systems could be replaced by location of things due to advantages such as less energy consumption and greater accuracy.

  • Demand for location of things-enabled tags and also devices is anticipated to see a rise as a result of snowballing demand for location-based services and geospatial data analysis.

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Privacy Issues Related to User Identity Slightly Hamper Growth in Market

There are some factors that are foreseen to hamper the demand in the world location of things market. However, research analysts expect growth prospects to develop on the back of certain positives of the market.

  • Privacy issues associated with user identity could cause a small drop in demand. However, increase in adoption of cloud-based technology, IoT evolution, and acceptance of location data analysis and real-time asset management are foreseen to create vast opportunities in the near future.

  • Furthermore, government regulations and certain guidelines developed by some countries could obstruct market growth in the coming years. Nonetheless, rising personal use of location of things-enabled tags and their reduced price are foretold to give a much needed push to the market.

Strong internet infrastructure and widespread technological advancement are prognosticated to come out as favorable factors for the adoption of location of things in developed countries. In 2016, North America showcased its dominance over the market by collecting a larger share. Rising penetration of location of things-enabled devices in different industry verticals could help the region to increase its share. North America could be trailed by Europe and Asia Pacific for the next few years.

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