Press release
IP Geo-Location Services Market Share Reach USD 7.4 Billion by 2031, Growth Drivers And Future Scenarios
Surge in digital marketing serves as a potential opportunity for the expansion of the global IP geo-location services market. Based on API packages, the basic API packages segment held the highest share in 2021, grabbing nearly two-fifths of the global IP geo-location services market. Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly half of the global IP geo-location services market share.
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The global IP Geo-Location Services Market Size was valued at USD 2.4 billion in 2021, and is projected to reach USD 7.4 billion by 2031, growing at a CAGR of 12.4% from 2022 to 2031.
The global IP Geo-Location Services Market Analysis research is segmented into API packages, enterprise size, application, and regions. Based on the API packages, the market is bifurcated into basic API packages, core API packages, and extended IP Geolocation API. By enterprise size, it is divided into small & medium-sized enterprises (SMEs) and large enterprises. Based on the application the market is segmented into localized web content, fraud detection, target advertisement, digital rights management, and others.
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Based on enterprise size, the large enterprises segment accounted for the highest share in 2021, holding nearly four-fifths of the global IP geo-location services market, and is expected to continue its leadership status during the forecast period. However, the small & medium-sized enterprises (SMEs) segment is estimated to grow at the highest CAGR of 14.5% during the forecast period.
Based on application, the digital rights management segment accounted for the highest share in 2021, contributing to more than one-fourth of the global IP geo-location services market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the target advertisement segment is expected to manifest the highest CAGR of 14.7% from 2022 to 2031.
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Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly half of the global IP geo-location services market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Europe region is expected to manifest the fastest CAGR of 12.7% during the forecast period.
Leading market players of the global IP geo-location services market analyzed in the research include Pitney Bowes Inc., Akamai Technologies, Inc., Apilayer GmbH (Ipstack), BigDataCloud Pty. Ltd., Digital Element Inc., Geobyte, Hexasoft Development (IP2Location.com), KickFire Inc., MaxMind, Inc., and Neustar, Inc.
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Covid-19 Scenario:
● The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global IP geo-location services market. The pandemic has forced billions of organizations around the world to adopt remote work policies. The transition has led to a rapid increase in demand for tools to support remote teams and workflows.
● The COVID-19 outbreak had a high impact on the growth of the IP geolocation services market, due to the increasing digital dependency, growing adoption of connected devices, and surging government initiatives to provide digital security. will provide lucrative opportunities for the growth of the IP geolocation services market.
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