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Geofencing - Market Analysis by Size, Share, Growth, Trends up to 2025

A new report on Geofencing market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Geofencing market in tandem with its competitive terrain.

The geofencing market growth is attributed to the popularity of mobility trend leading to extensive proliferation of mobile devices such as smartphones and tablets, along with rising demand for proximity marketing solutions. The utility of mobile devices is widening as they are consolidating their role as central medium to reach an ever-expanding portfolio of applications and services. GPS-based location services are provided as a default feature in most of these mobile devices. Marketers are leveraging such capabilities of these devices to determine the location of their existing and prospective customers to offer real-time marketing messages to them.

Geofencing Market is set to exceed USD 1.7 billion by 2024; according to a new research report.

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The product market held a significant geofencing market share of over 80% in 2016 owing to extensive deployment of geofencing systems by enterprises operating in retail, logistics, and automotive sectors. Within the product market, promotion and advertising solutions will exhibit fastest growth between 2017 and 2024 as businesses are increasingly realizing the potential of the technology to improve location-based marketing efforts and in turn, enhance their promotion and marketing ROI.

Geofencing - Market Analysis by Size, Share, Growth, Trends up to 2025
Geofencing - Market Analysis by Size, Share, Growth, Trends up to 2025

Request Sample Copy of this Report @ https://www.cuereport.com/request-sample/12682

With the growing popularity of AR and beacon technologies, geofencing is being integrated with them to effectively improve proximity marketing campaigns. These technologies are also being leveraged to improve gaming experience of gamers by integrating location-based capabilities with app-based games for mobile devices. Also, modernization efforts to improve the capability and performance of existing GPS infrastructure are also expected to boost the adoption of geofencing solutions over the forecast timeline.

Service market will gain significant momentum over the forecasted timeline owing to the huge demand for specialized services to operate, maintain and manage the geofencing infrastructure deployed at the customers' end. Managed services segment will exhibit lucrative growth with the highest CAGR over 35% during the forecast period. This geofencing market growth can be attributed to the growing adoption of cloud computing for deploying geofencing applications.

Mobile geofencing market is expected to exhibit promising growth over the forecasted timeline as it can vary the boundaries of the perimeter based on a situation determined by a combination of data streams. Such solutions can automatically define areas based on population density and personalize ads. Hence, message relevancy can be highly enhanced and engagement can be driven to specific business locations.

GPS market will witness positive growth over the timeline owing to considerable ongoing advancement in the technology through replacement of the legacy ground-based systems and GPS satellites with newer ones. With large scale adoption of GPS tracking systems for fleet management applications in the logistics industry, the geofencing market is expected to steadily increase between 2017 and 2024.

The transportation and logistics segment held a major share of the geofencing market in 2016 due to the excellent utility of geofencing systems in effortlessly managing large vehicle fleets in diverse geographic regions. With better accuracy, operational efficiency and supply chain visibility, logistics companies can hugely benefit from the technology to facilitate last-mile delivery. The retail market will demonstrate fastest growth during the forecast period owing to rapid adoption of geofencing systems by retailers to strengthen their location-based proximity marketing activities. As the technology allows them to track their competitors and devise effective promotional campaigns in response, retailers are deploying event-specific geofences for effective customer retention as well as acquisition.

Cloud-based geofencing solutions will experience significant adoption over the forecasted timeline due to rapidly growing popularity of cloud computing. As cloud-based applications offer enhanced flexibility and scalability to deploy geofencing application, cloud geofencing market will exhibit fastest growth between 2017 and 2024.

North America will hold a majority share in the geofencing market by 2024 due to the presence of robust communication and internet infrastructure in the region. As the U.S. government is heavily investing in the GPS modernization project, the performance of satellite-based communication and location systems in the region is expected to improve significantly over the forecasted timeline. The APAC region will grow the fastest due to increase in the use of location analytics in countries such as India, Japan, China, and ANZ.

The key players operating in the geofencing market are PlotProjects, Apple, Thumbvista, Esri, Bluedot innovation, Swirl Networks, Embitel, Simplifi.fi, Mapcite, UpSnap, Google, Gimbal, Placecast, DreamOrbit, GeoMoby, Localytics, Pulsate, Radar Labs, and Urban Airship. These players are focusing on consistent product development and innovation. By enabling better connectivity, increased accuracy and seamless integration, they are emphasizing on extending their solutions to diverse industries such as public sector, hospitality and media and entertainment.

Geofencing market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2015 to 2024, for the following segments:

Geofencing Market, By Type

Fixed

Mobile

Geofencing Market, By Component

Product

Asset Monitoring and management

Fleet management

Workforce management

Promotion and advertising

Competitor tracking

Drone management

Service

API management services

Managed services

Consulting, training and maintenance services

Geofencing Market, By Technology

GPS

RFID

Wi-Fi

Cellular Network

Geofencing Market, By Application

Transportation and logistics

Retail

Automotive

BFSI

Public sector

Hospitality

Media and entertainment

Geofencing Market, By Deployment Model

On-premise

Cloud

Major Highlights from Table of contents are listed below for quick lookup into Geofencing Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of Geofencing Market
  • Product trends
  • Application trends

Chapter 3. Geofencing Industry Insights

  • Geofencing Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the Geofencing industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • Geofencing Market Technology & innovation landscape
  • Industry impact forces
  • Geofencing Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of Geofencing Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in Geofencing Market
  • SWOT Analysis

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