Demand for IP Geo-Location Market to Grow at a CAGR of 10.6% Through 2030
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Emergence of digital marketing and its applications such as business intelligence and search pattern reorganization has enabled demand for content localization with respect to individual buying patterns. Introduction of IPv6 numbering system has enabled connection of IoT applications with internet services. Furthermore, need for enhancing security to gain customer loyalty has increased demand for IP geo-location services for detection of fraud transaction and anonymous users.
The market for IP geo-location services is experiencing impact of Covid-19 as result of country and state-wise lockdown across the globe. These lockdown have resulted in shutting down of numerous hospitality and cab services and e-commerce platforms. However, inclusion of groceries and food delivery services has accelerated demand for IP geo location services amid this lockdown. As result, market for IP geo-location service is experiencing high demand from OTT players as well as online gaming services.
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Key Takeaways of IP Geo-location Service Market
• Global IP Geo-location Service market is expected to create a value opportunity of around US$ 3.0 Bn during the forecast period, adding 3.5X more value in 2030 as compared to 2020
• Target advertisement segment will continue to dominate demand for IP Geo-location service market accounting for more than half of the global share, as a result of enhanced customer experience and analysis customers’ buying patterns.
• China and India will continue to maintain their supremacy in IP Geo-location Service market with highest number of communication subscribers and high data usage rate. IP Geo-location Service market in Asia Pacific is poised to grow at a healthy CAGR of 10% through 2030.
• Increasing investments by government and related authorities in smart cities and telecom industry for development of backbone infrastructure is fuelling market growth. These infrastructure will result in providing better support and get maximum accuracy which will eventually boost demand for IP geo-location service market over the forecast period.
• North America is estimated to be the most lucrative market in terms of revenue generation. Market is currently valued at US$ 1,000 Mn and is expected to show prolific expansion over the forecast period
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“Adoption of IPv6 with supporting IoT and AI applications will lead to an upswing in demand for IP Geo-location service for Digital Right Management (DRM), secured payment platforms and enhanced customer buying experiencing”, says the Fact.MR analyst.
IP Geo-location Service Market to witness a Seismic Shift with ML Algorithm
Leading IP geo-location service providers are now moving towards use of AI & ML algorithms for providing accuracy of user location as well as security against fraudulent transactions. For instance, Digital Element has invested hugely in research and development activity in order to configure IP geo-location APIs with AI & ML algorithms to tackle challenges associated with VPN services.
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Furthermore, increasing automation and customized user experience have become trends in e-commerce and OTT content providing industry. These trends in associated market have increased demand for IP based geo-location services. Geo-location service providers are using reverse DNS lookup in order to track location break down till zip code +4 level.
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