Whats driving the Geofencing Market Growth ? Apple, Google, Esri, Urban Airship, Bluedot, Embitel Technologies, Localytics

The application matrix of geofencing market is not just replete with retail domain, though it is undeniable this sector is a lucrative growth avenue for the entire business space. Besides, retail space, geofencing industry share stands to gain much from security and defense applications. Numerous companies participating in the business space have been creating a whole hog to bring about significant advancements in the capabilities of this solution with enhanced integration and accuracy functionalities.

Touted as one of the most opportunistic business verticals of the sustainable and smart technologies industry, the growth chart of geofencing market is anticipated to scale new heights over the ensuing seven years. The massive proliferation of mobile devices coupled with the burgeoning requirement for proximity-based advertising, merchandising, and marketing solutions have contributed vigorously toward impelling the geofencing industry share augmentation.

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

1. Google
2. Apple
3. Bluedot Innovation
4. Thumbvista
5. Esri
6. Embitel
7. Simpli.fi
8. Gimbal
9. Mapcite
10. UpSnap
11. Placecast
12. Swirl Networks
13. GeoMoby
14. Localytics
15. Urban Airship
16. Pulsate
17. PlotProjects
18. Radar Labs
19. DreamOrbit
20. Factual

Furthermore, it won't be incorrect to claim that the intensifying battle between offline and online shopping stores would propel the growth potential of the global geofencing market over the forthcoming years. Add to it, increasing efforts to modernize the performance and capability of existing GPS network would further boost the adoption of geofencing solutions across the diverse set of business domains. Geofencing market to accumulate remuneration of over USD 1.7 billion by 2024.

The geofencing based app designed by the company aptly detects when the customer gets closer to the counter and simultaneously alerts the staff to start preparing the order. Needless to mention, growing deployment of these kinds of innovative technologies have enhanced instore consumer experience, which by extension has stimulated geofencing market expansion.

The US-based home improvement retail behemoth, Home Depot had rolled out an app a few years ago which switches to an 'in-store' mode when a customer enters the store. By utilizing location-based technology, the app provides the customers with a map with specific product offerings based on their exact location and allows them to use additional services like the 'product locator' tool. Needless to mention, the deployment of such innovative technology would enhance the in-store customer experience which would further boost the growth prospects of the global geofencing market.

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