Press release
Global Geofencing Market Over 2018-2024 Key Players: Apple, Google, Thumbvista, Esri, Urban Airship, Bluedot innovation, Gimbal, Embitel, Placecast, Simplifi.fi, Swirl Networks, Radar Labs, UpSnap, GeoMoby
Geofencing Market
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 projected to surpass USD 1.7 billion by 2024. The technology combines the awareness of user’s current location with that of their proximity to a location of interest.
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Top Key Players: -
Some of the key players in the geofencing market are Apple, Google, Thumbvista, Esri, Urban Airship, Bluedot innovation, Gimbal, Embitel, Placecast, Simplifi.fi, Swirl Networks, Radar Labs, UpSnap, GeoMoby, PlotProjects, Localytics, Pulsate, Mapcite, and DreamOrbit.
Market share calculation in this report is not done based on companies covered in it. The calculation of geofencing market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
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.
Asia Pacific geofencing market is projected to witness fastest growth between 2017 and 2024 due to growing inclination towards geofencing technology in the logistics and retail sectors in countries such as India, China and Australia.
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Partial Chapter of the Table of Content
Chapter 4. Competitive Landscape, 2016
4.1. Introduction
4.2. Competitive analysis of market players
4.3. Apple
4.4. Google
4.4.1. Bluedot Innovation
4.4.2. Thumbvista
4.4.3. Embitel
4.4.4. Simpli.fi
4.4.5. Mapcite
4.4.6. Swirl
4.4.7. GeoMoby
Chapter 5. Geofencing Market, By Type
5.1. Geofencing market share by Type, 2016 & 2024
5.2. Fixed geofencing
5.2.1. Fixed geofencing market, by region, 2015-2024
5.3. Mobile geofencing
5.3.1. Mobile geofencing market, by region, 2015-2024
Chapter 6. Geofencing market, By Component
6.1. Geofencing market share by component, 2016 & 2024
6.2. Product
6.2.1. Product market, by region, 2015-2024
6.2.2. Asset monitoring and management
6.2.2.1. Asset monitoring and management market, by region, 2015-2024
6.2.3. Fleet management
6.2.3.1. Fleet management market, by region, 2015-2024
6.2.4. Workforce management
6.2.4.1. Workforce management market, by region, 2015-2024
6.2.5. Promotion and advertising
6.2.5.1. Promotion and advertising market, by region, 2015-2024
6.2.6. Competitor tracking
6.2.6.1. Competitor tracking market, by region, 2015-2024
6.2.7. Drone management
6.2.7.1. Drone management market, by region, 2015-2024
6.2.8. Others
6.2.8.1. Drone management market, by region, 2015-2024
6.3. Service
6.3.1. Product market, by region, 2015-2024
6.3.2. API management services
6.3.2.1. API management market, by region, 2015-2024
6.3.3. Managed services
6.3.3.1. Managed services market, by region, 2015-2024
6.3.4. Consulting, training and maintenance services
6.3.4.1. Managed services market, by region, 2015-2024
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The Geofencing technology is witnessing consistent advancements in terms of upgradation and integration with other technologies such as beacons and augmented reality. As GPS is undergoing a technological transformation with acquisition of new satellites and emergence of latest standards, geofencing will evolve into a more sophisticated location-based service over the forecast period. An emerging application of geofencing is increasingly evident as a recruitment tool, where companies are leveraging the technology to target prospective employees.
Companies are locating and attracting specialized talent using geofencing. By procuring a database of potential recruits, companies set up geofences in areas where these coveted recruits live or work. When a person with relevant credentials enters such a geofence, an ad inviting to apply for the available position is pushed on his/her mobile phone. As the technology matures further, more innovative applications of geofencing are expected to evolve over the forecast timeline.
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