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The global location of things (LoT) industry is being driven by the heightened digitalisation and the rapid technological advancements being observed worldwide. As a result, the location of things (LoT) technology finds increased usage in major industry verticals such as defense, retail, and transportation for efficient and real-time location tracking. Moreover, with new technological interventions, the location of things technology can be used in integration with cloud technology to facilitate efficient and organised storage of data. Furthermore, LoT can be integrated with enterprise resource planning (ERP) mechanism and customer relationship management (CRM) system to streamline the data collection process from different business segments.
The growing focus of the leading players in the development of the location of things technology by integrating advanced technological solutions is expected to significantly catalyse the industry growth in the forecast period. In November 2020, Nordic Semiconductor (OTCMKTS: NRSDY) announced its Nordic multi-mode NB-IoT/LTE-M nRF9160 System-in-Package (SiP) in the world’s first solar powered perpetual operation cellular IoT asset tracker created by SODAQ. This track is beneficial to be used in on-site logistics and general asset management processes. It solely runs on solar power, therefore, reducing the costs and waste created by batteries. Furthermore, Microsoft (NASDAQ: MSFT), in August 2019, announced the cross-Azure IoT collaboration, which aims to simplify the use of spatial intelligence used together with IoT messaging. Through this, Azure IoT customers can implement IoT spatial analytics with the help of Azure Maps. These developments are expected to positively impact the growth of the location of things industry in the forecast period.
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The major players in the global location of things (LoT) market are Esri, Wireless Logic, Bosch.IO GmbH, Pitney Bowes Inc, and TIBCO Software Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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