Press release
Global Geomarketing Market to Witness Huge Growth by 2026 | Microsoft Corporation, IBM Corporation, Oracle Corporation, Google LLC, Cisco Systems, Inc., Adobe Systems
The Global Geomarketing Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.The geomarketing market is expected to reach USD 18.21 billion by 2025 from the present estimate of USD 7.35 billion in 2019 at a CAGR of 16.32% during the forecast period.
Top Companies in the Global Geomarketing Market are Microsoft Corporation, IBM Corporation, Oracle Corporation, Google LLC, Cisco Systems, Inc., Adobe Systems Inc., Xtremepush Limited, Ericsson Inc., ESRI Business Information Solutions Inc, Software AG, Qualcomm Inc. and others.
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Industry News
- May 2020 - ESRI Business Information Solutions Inc has partnered with the Inter-American Development Bank (IDB) to provide free access to geospatial technology in response to the COVID-19 emergency in Latin America and the Caribbean (LAC). Governments of the region will be able to use a COVID-19 solution to track critical equipment and assets availability, manage supply chains, and maintain business continuity.
- March 2020 - Bluedot, a leading provider of first-person location data, has announced an integration with Oracle Responsys, a real-time, omnichannel orchestration platform within the Oracle Marketing Cloud, to harness the power of location. The integration will give Oracle Responsys clients access to real-world insights needed to create meaningful, timely campaigns with their end customers.
Key Market Trends
Location Based Services is Expected to Witness Significant Growth and Drive the Market
- Technological advancement in smart devices (smartphones, smart wearables, laptops), wireless connectivity, Internet of Things, cloud computing, has successfully increased the traffic and has driven the demand for analytical services due to their ability to analyze and deliver real-time geo-data.
- Moreover, increasing brand dependence on location-based service providers to determine customers requirements and to verify customers needs and their offerings are on the same level in order to remain one step ahead of competitors has driven the growth of the market. Companies also utilize location-based technology, advanced analytics, and automation to highly personalized customer experience and build brand loyalty to reduce churn rate due to ongoing competition.
- According to the study, brand loyalty aid companies to achieve revenue gains of 5% to 10% and reduce its costs by 15% to 25% within two or three years as new customer acquisition costs five times as to retain the current old customer.
- Further, location-based services have gained significant attention across various industrial sectors such as government authorities, telecommunications, transportation, and retailers, and have empowered players to offer promotional services based on customer's lifestyle and proximity. For instance, Uber, an American ride-hailing company offering services, works on customers and drivers location information through smartphones. Location features help the company to improve its services, including pickups, navigation, customer support and promotional servies. So, it is expected that many businesses will gain promising insights through location-based services and will drive the market in the future.
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What are the market factors that are explained in the report?
Executive Summary: It includes key trends of the global Geomarketing market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Geomarketing market based on production and revenue.
Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Geomarketing market.
Market Segments: This part of the report discusses product type and application segments of the global Geomarketing market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approaches Geomarketing used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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