Active Geofencing Market Growing in Revenue Making CAGR of 24.1% by 2023 with BLUEDOT INNOVATION, GOOGLE, IBM, MICROSOFT, RADAR LABS, SAMSUNG ELECTRONICS, VERVE and More

Industry Highlights:
The global active geofencing market is projected to register at a CAGR of 24.1% over the forecast period of 2018-2023. The scope of the report includes insights on the solutions offered by major players, including providers of hardware, software platform, services, and integration solutions. The regions included in this study are - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The study also offers insights on various end users, such as healthcare, BFSI, retail, defense, etc. The organization size and type of geofencing have also been covered in the study.

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Key Developments in the Market
January 2018 - Bluedot Innovation launched Bluedot Location Marketing on the Salesforce AppExchange. This has empowered businesses to connect with their customers, partners, and employees in entirely new ways. Bluedot Location Marketing offers accurate location services and geofencing, empowering brands to harness the power of location, to build personalized journeys.

Major Players :
BLUEDOT INNOVATION, GIMBALu00b8 GOOGLE LLC, IBM CORP., MICROSOFT CORP., RADAR LABS INC., SAMSUNG ELECTRONICS, VERVE, amongst others.

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Industry-based Demand is High Due to Increased Tracking of Asset and Stock Location
The real-time location and tracking of the movements of the materials in the industry provides the industry the most needed control over the flow of the process. The control allows the industry to track the movement of the inventory, semi-processed materials, and the processed materials in real time, thus allowing it to reduce the wastages of resources.

Small- and Medium-scale Businesses are Increasingly Adopting Geofencing
The use of smartphones has enabled small- and medium-scale businesses to reach out to customers visiting their premises. Access to applications, like Google Earth, has allowed people to know about the nearby places. A small business uses geofencing to let the customers in the locality know about its new products and offers and retain them, if they visit the locality. The demand in this segment is increasing, particularly in developed and emerging countries, mainly in urban areas.

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