The Global Geofencing Market was valued at US$ 538.02 Mn in 2020 and is expected to reach US$ 1,479.99 Mn by 2030. Market Participants include Apple Inc., Bluedot Innovation, DreamOrbit, Embitel, Esri, Factual, GeoMoby, GPSWOX, Nisos Technologies, Localytics, LocationSmart, MAPCITE Maven Syst, Mobinius Technologies, IBM, Pitney Bowes Inc., Plot Projects, Pulsate, Radar Labs, Inc., Raveon Technologies, Simpli.fi, SuccorfishM2M, Swirl Networks, Thumbvista, Urban Airship, Visioglobe, amongst Others.
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Geofencing is a virtual fencing created around the desired boundary locations of a land. Geofencing primarily consists of the software programs which are executed using the data gathered from the GPS (global positioning systems) or the RFID (radio frequency identification). The primary factor responsible for the increasing popularity of the Geo-fencing is that it allows an administrator who has set up the geo-fencing to set up the triggers for events. These triggers are set by the administrator for the events such as entry or exit of the devices within the decided boundaries by the administrator.
North America Geofencing Size, By Type, 2017 & 2022, (US$ Million)
Geofencing is getting increasing popularity due to the many application’s incorporations such as the Google Earth. This incorporation allows the administrators to define the boundaries for geofencing on top of a satellite view as per specific geographical area which is available for the Google Earth application as well as the users are also deploying the other applications for defining the boundaries using longitude and latitude or through user-created and web-based map
Geofencing Market, By Type
Fixed geofencing represents the largest market share present owing to widespread implementation of static geofences for multiple applications including advertisements, recreational activities, and asset monitoring. Businesses use geofencing to trigger an action within geographic boundary. These triggering actions adopted by business such as fixed geofencing based on a user’s position relative to a fixed area. For instance, special offer sent by SMS text message to opt-in users as they enter a shopping mall. Hence, the market for fixed geofencing shows eminent growth at present.
Geofencing Market, By Region
North America region leading the global market for Geofencing due to the dense presence of end users from commercial, manufacturing, and others using Geofencing. The growth in North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for analytical tools and spatial data in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies. Increasing popularity and rise in adoption of business intelligence in aforementioned region is one major factor responsible for driving the growth of geofencing market in North America.
Geofencing Market research added by Absolute Markets Insights, offers a comprehensive analysis of the growth trends prevailing in the global business arena. This report also provides definitive data regarding the market, size, marketing aspects, and revenue forecast of the industry. In addition, the study explicitly highlights the competitive status of major players in the projection schedule while focusing on their portfolio and regional expansion efforts.
The Global Geofencing Market Analysis to 2030 is a specialized and in-depth study of the Technology, Media, and Telecommunications industry, with an emphasis especially on the analysis of global market trends. The report aims to provide an overview of the enterprise content delivery networks and enterprise streaming software market with detailed market segmentation by component, type of deployment, industry vertical, and geography. The global market for enterprise content delivery networks and enterprise streaming software is expected to witness high growth during the forecast period.
The overall turnover of the companies / segments for the years 2021, 2020 and 2019 is provided in the sub-heading “Financial performance” (listed companies) with the analysis and explanation of the increase or decrease. decrease in these due to factors such as mergers and acquisitions, profit or loss of any strategic business unit (SBU) and others.
Information relating to new product launches, strategic collaboration, mergers and acquisitions, regulatory approval and other company developments in the market is covered in the strategic initiatives section.
Geofencing Market: Regional analysis includes:
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (United States, Mexico and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC countries and Egypt.)
This research provides detailed information on the major factors influencing the Geofencing market growth on a global and regional level (drivers, restraints, opportunities and challenges), forecast of market size, in terms of value, market share by region and segment; regional market positions; growth opportunities by segment and by country, strengths and weaknesses, brand portfolio; Marketing and distribution strategies; challenges and threats of current competition and prospects; Key Company Profiles, SWOTs and Growth Strategies.
The Geofencing market research covers a comprehensive analysis of the following data:
• Historical and future growth of the Global Geofencing market.
• Segmentation of enterprise content delivery network and enterprise streaming software market to highlight the growth prospects and trends impacting these segments.
• Change the consumption behavior of customers in different regions.
• Regional analysis on the basis of market share, growth prospects and key countries.
• Agreements, product launches, acquisitions and R&D projects of various players in the enterprise content delivery networks and enterprise streaming software market.
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