The Global Geofencing Market Size is estimated to expand rapidly in coming years, at a CAGR of 24.35 % from 2018 to 2025. In 2017, the global market valuation was USD 5.85 billion, and it is anticipated to be greater than USD xx.xx billion by 2025. The geofencing is a concept according to which, the use of GPS or RFID technology to create a virtual geographic boundary, enabling software to receive a response when a mobile device enters or leaves particular area. Various organizations are focusing on geofencing advertising and location based marketing. With the help of location based marketing, marketers are connecting to the new consumers and targeted audience through the location of their mobile devices. According to the research, North America is expected to be the highest growing region in the global market.
Global Geofencing Market Size, Share Analysis By Region 2017
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global geofencing market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global geofencing market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
By Type Insights: on the basis of device type, global geofencing market has been segmented into fixed and mobile. According to the research, mobile geofencing is expected to be the highest growing segment in the forecast period.
By Component Insights: On the basis of component, global geofencing market has been segmented into solution and service. Amongst which solution segment is expected to be the highest growing segment in the market.
By Deployment Insights: On the basis of class of device, global geofencing network market has been segmented into on premises, hybrid and cloud. Among which cloud deployment method is expected to be the highest growing segment in the market in forecast period. Cloud allows access to multiple users to share information through the internet. Ease of access, data security, faster deployment feature, and low maintenance cost are some of the reasons behind growth of the market in forecast period. The increasing adoption of virtual technology, cloud network is expected to create various opportunities in the market. High flexibility, high computing power, higher efficiency and highly efficient location accuracy are the key points of cloud oriented geofencing.
The geofencing market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. North America is expected to witness high growth in upcoming time span due to high demand in health care sector and increasing awareness amongst consumers. Technical advancements and consumer’s insistence for providing highly efficient location services is also one of the reason behind market uplifting. Growing digitization in the telecom industry is expected to witness high growth in the region.
In terms of region Asia Pacific region is expected to witness high growth in the market in upcoming forecast. Asia Pacific region is expected to register highest CAGR due to the adoption of advanced geofencing technologies. Countries in Asia Pacific region such as China, Japan and India are key manufacturers of automotive products, are likely to impact the market in forecast period.
Europe is anticipated to dominate the global geofencing market over the projected period majorly owing to the rising adoption of geofencing in transport and logistics for location based services. Apart from this, modern cab services and use of location services in food delivery applications are likely to impact the market and generate high revenue.
Global Geofencing Market Study Objective
1. To forecast the market size of global geofencing market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
2. Market analysis and forecast of global geofencing market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
3. To analyze and elaborate significant factors that will have major impact on the growth of global geofencing market, such as drivers, restraints, challenges and opportunities.
4. Regional analysis of global geofencing market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.
5. Strategic analysis of micro markets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.
6. To provide detailed analysis of competitive and strategic developments in the global geofencing market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Google, Apple, Bluedot innovation, Thumbvista, Esri, Embitel, Simplifi.fi, Gimbal, Mapcite, UpSnap, Placecast, Swirl Networks, GeoMoby, Localytics, Urban Airship, Pulsate, PlotProjects, Radar Labs, and DreamOrbit. are some of the key players in the market of geofencing
Global Geofencing Market Study Report Offer You!
The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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