Global Geofencing Market to witness 28% CAGR till 2024 | Top Key Players Include Localytics, Urban Airship, Esri, Google, Apple, Bluedot, Embitel Technologies, Swirl Networks, DreamOrbit, Placecast, Gimbal

Worldwide Geofencing Market is set to exceed USD 1.7 billion to growth at 28% CAGR from 2017 to 2024; according to a new research report by Global Market Insights, Inc. The product market held a significant geofencing market share of over 80% in 2016 owing to extensive deployment of geofencing systems by enterprises operating in retail, logistics, and automotive sectors. Within the product market, promotion and advertising solutions will exhibit fastest growth between 2017 and 2024 as businesses are increasingly realizing the potential of the technology to improve location-based marketing efforts and in turn, enhance their promotion and marketing ROI.

Request for a sample of this research report @ www.gminsights.com/request-sample/detail/222

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.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Localytics
2. Urban Airship
3. Esri
4. Google
5. Apple
6. Bluedot
7. Embitel Technologies
8. Swirl Networks
9. DreamOrbit
10. Placecast
11. Gimbal

GPS market will witness positive growth over the timeline owing to considerable ongoing advancement in the technology through replacement of the legacy ground-based systems and GPS satellites with newer ones. With large scale adoption of GPS tracking systems for fleet management applications in the logistics industry, the geofencing market size is expected to steadily increase between 2017 and 2024.

Make an inquiry for purchasing this report @ www.gminsights.com/inquiry-before-buying/222

Asia Pacific, on the other hand, is expected to witness fast growth over the timeline due to increasing awareness regarding the advantages of location-based services to increase the efficiency of fleet management systems and marketing campaigns.

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. The APAC region will grow the fastest due to increase in the use of location analytics in countries such as India, Japan, China, and ANZ.

American Eagle, one of the renowned clothing and accessories retailers, in the year before last, launched a groundbreaking reward scheme for its customers to encourage purchase. Reportedly, the U.S. headquartered company has utilized geofencing technology to create this app, which in a way is pushing consumers to add more items in their shopping carts to see what they can receive in return. Since the strategy compels the users to at least consider the items that might be otherwise left on the rail, the probability of more purchases undoubtedly increases. This absolutely innovative strategy applied by the American retail giant grabbed the headlines back then and has been stamped as a benchmark in geofencing market growth.

Citing another instance, one of the leading clothing and accessories retailers American Eagle has recently unveiled rewards scheme to its customers by incentivizing try-ons. The US-headquartered firm utilizes geofencing technology to turn the in-store experience into an engrossing game, urging buyers to add additional items to their shopping cart to see what they may receive in return. Given that this strategy compels customers to seriously consider items they might have otherwise left on the rail, the likelihood of more purchases accentuates considerably. Apparently, this goes on to demonstrate the intent of market stakeholders to provide comprehensive results based on individualized shopping pattern.

Browse key industry insights spread across 450 pages with 1364 market data tables & 15 figures & charts from this 2018 report, Geofencing Market in detail along with the table of contents:

www.gminsights.com/industry-analysis/geofencing-market

Mobile geofencing market is expected to exhibit promising growth over the forecasted timeline as it can vary the boundaries of the perimeter based on a situation determined by a combination of data streams. Such solutions can automatically define areas based on population density and personalize ads. Hence, message relevancy can be highly enhanced and engagement can be driven to specific business locations.

Geofencing Market size is set to exceed USD 1.7 billion to growth at 28% CAGR from 2017 to 2024; according to a new research report by Global Market Insights, Inc. The product market held a significant geofencing market share of over 80% in 2016 owing to extensive deployment of geofencing systems by enterprises operating in retail, logistics, and automotive sectors. Within the product market, promotion and advertising solutions will exhibit fastest growth between 2017 and 2024 as businesses are increasingly realizing the potential of the technology to improve location-based marketing efforts and in turn, enhance their promotion and marketing ROI.

The transportation and logistics segment held a major share of the geofencing market in 2016 due to the excellent utility of geofencing systems in effortlessly managing large vehicle fleets in diverse geographic regions. With better accuracy, operational efficiency and supply chain visibility, logistics companies can hugely benefit from the technology to facilitate last-mile delivery. The retail market will demonstrate fastest growth during the forecast period owing to rapid adoption of geofencing systems by retailers to strengthen their location-based proximity marketing activities. As the technology allows them to track their competitors and devise effective promotional campaigns in response, retailers are deploying event-specific geofences for effective customer retention as well as acquisition.

The key players operating in the geofencing market are Apple, Google, Thumbvista, Esri ,Urban Airship, Bluedot, Gimbal, Embitel Technologies, Placecast, Swirl Networks, RADAR, UpSnap, GeoMoby, Plot Projects, Localytics, Pulsate, Mapcite, and DreamOrbit.

Browse Related Reports: https://www.openpr.com/news/1532257/Schneider-Electric-Pitney-Bowes-MDA-Hitachi-Companies-Profiled-in-GIS-Market-Hexagon-AB-Harris-Corporation-GE-Esri-Bentley-Systems-Autodesk-Geosoft-Inc-Trimble-Inc-Topcon-Positioning-Systems.html

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
Blog: www.industry-source.org

This release was published on openPR.