The global geofencing market is poised to grow by USD 1.48 billion during 2019-2023, progressing at a CAGR of over 26% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global geofencing market 2019-2023. (Graphic: Business Wire)
Read the 112-page research report with TOC on “Geofencing Market Analysis Report by product (fixed and mobile), by geography (North America, Europe, APAC, MEA, and South America), and Segment Forecasts, 2019 – 2023.”
The market is driven by the increase in location-based marketing. In addition, the increased use of analytics is anticipated to further boost the growth of the geofencing market.
Geofencing advertising and marketing solutions are used by various enterprises and business organizations for location-based marketing. It is also known as proximity marketing and is emerging as a critical strategy for marketers. With the help of location-based marketing, marketers are connecting with consumers through the location of their mobile devices. This helps improve consumer engagement and build brand equity to strengthen customer loyalty and enhance customer service. Also, with the help of proximity marketing, retailers are delivering just-in-time communication to the target audience, using advanced technologies such as RFID, beacon, and Wi-Fi. Thus, with such advantages, the global geofencing market is expected to witness a positive outlook over the forecast period.
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Major Five Geofencing Market Companies:
Apple Inc. owns and operates businesses in the Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The company offers region monitoring and iBeacon location-based services.
Esri operates its business under products and services segment. The company offers ArcGIS, a platform for designing and managing geofencing solutions. In January 2019, the company re-launched ArcGIS For Developers with an enhanced mapping experience that is more accessible and affordable.
Localytics has business operations under solutions segment. The company offers Places, a mobile geofencing solution. In June 2018, the company launched new Campaign Builder, to help marketers deliver a unique experience to their mobile users and build strong connection between mobile and digital by factoring in user behavior across channels.
Simpli.fi operates its business under products and services segment. The company offers location-based mobile advertising technology based on specific geographic shapes. Moreover, the company also offers location-based mobile advertising technology based on specific geographic shapes.
Thumbvista offers mobile geofencing solutions. Moreover, the company also offers mobile marketing services and mobile advertising solutions such as location-based advertising and geofencing technology.
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Geofencing Product Outlook (Revenue, USD Million, 2019 – 2023)
Geofencing Regional Outlook (Revenue, USD Million, 2019 – 2023)
- North America
- South America
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