Press release
Enhancing Security with Cutting-Edge Geofencing Software
According to The Business Research Company's, The geofencing software market size has grown rapidly in recent years. It will grow from $44.58 billion in 2023 to $49.63 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to increasing smartphone penetration, rising demand for location-based marketing, growing adoption of internet of things (IoT), emergence of smart city initiatives, and improvements in data privacy regulations.
The geofencing software market size is expected to see rapid growth in the next few years. It will grow to $77.08 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to proliferation of 5G networks, expansion of e-commerce and online retail, rise of autonomous vehicles and delivery drones, growing focus on real-time location tracking, and surge in demand for personalized user experiences. Major trends in the forecast period include dynamic geofencing for flexible boundaries, rise of privacy-centric geofencing solutions, integration of geofencing with wearables and smart devices, and environmental monitoring and conservation efforts.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/geofencing-software-global-market-report
Market Drivers and Trends:
The rise in demand for the Internet of Things (IoT) is expected to propel the growth of the geofencing software market going forward. The Internet of Things refers to a network of interconnected physical devices embedded with sensors, software, and other technologies that enable them to collect and exchange data over the internet. The demand for the Internet of Things (IoT) is on the rise due to several factors, including the proliferation of high-speed internet connectivity, the demand for data analytics and insights, and the emergence of Industry 4.0 and digital transformation initiatives. Integration of IoT with geofencing software enhances its capabilities, enabling businesses to create more intelligent, responsive, and personalized location-based experiences for users. For instance, in August 2022, according to Akamai Technologies Inc., a US-based internet company, IoT connections are expected to increase from 15.1 billion in 2021 to 23.3 billion in 2025. Therefore, the rise in demand for the Internet of Things (IoT) is driving the growth of the geofencing software market.
Major companies operating in the geofencing software market are focusing on collaborating with each other and co-developing advanced solutions, such as the self-served geofence advertising platform, to gain a competitive edge in the market. Businesses that collaborate with other organizations can gain access to complementary technologies, broaden their market reach, and increase the overall quality and effectiveness of their geofencing software. For instance, in July 2023, Ethic Advertising Agency, a US-based digital advertising company, collaborated with Simpli.fi, a US-based digital advertising platform, to launch the Qujam platform, the first self-served geofence advertising platform, aiming to empower small businesses and agencies. This platform provides various advertising options, including banner ads on mobile apps and websites, OTT CTV (Over-the-Top Connected TV) advertising on streaming video apps, and video pre-rolls. The platform addresses common challenges faced by small businesses in utilizing geofence advertising, such as high costs, managed-only options, and a lack of reporting dashboards, by offering a fully do-it-yourself platform with real-time reporting capabilities.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=14920&type=smp
Major Key Players of the Market:
Apple Inc., Google LLC (Alphabet Inc.), Samsung Electronics Co., Infosys Ltd., Environmental Systems Research Institute Inc. (Esri), XebiaLabs Inc., HERE Global B.V., GitLab Inc., MoEngage Inc., CloudBees Inc., CollabNet VersionOne Inc. (CollabNet), WebEngage, Mobstac, ConnectALL, GroundTruth, Bluedot Innovation Pty Ltd, Radar Labs Inc., Pulsate Ltd., The Mobile Majority, Leantegra, Plutora, Bleesk, Skyhook Wireless, Logitrack, PlotProjects
Geofencing Software Market 2024 Key Insights:
• The geofencing software market size is expected to see rapid growth in the next few years. It will grow to $77.08 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%.
• Internet Of Things (IoT) Contribution To Geofencing Software Market Momentum
• Collaboration In The Geofencing Software Market For Advanced Geofence Advertising Platforms
• North America was the largest region in the geofencing software market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/customize?id=14920&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Enhancing Security with Cutting-Edge Geofencing Software here
News-ID: 3696219 • Views: …
More Releases from The Business Research Company
Leading Companies Reinforce Their Presence in the Blanket Market
The blanket market is steadily gaining traction as consumers increasingly seek comfort and style in their home essentials. With evolving preferences and technological advancements, this sector is set to experience consistent growth. Let's explore the current market value, key players, emerging trends, and the main segments fueling this expansion.
Forecasted Blanket Market Size and Growth Trajectory
The blanket market has seen consistent growth over recent years. From a market size…
Global Trends Review: The Rapid Evolution of the Sporting and Athletic Goods Mar …
The sporting and athletic goods market is experiencing steady growth, driven by evolving consumer preferences and technological advancements. As health and wellness continue to gain importance globally, this market is set for notable expansion in the coming years. Let's explore the current market size, key factors fueling its growth, leading companies, major trends, and segmentation details.
Forecast for Sporting and Athletic Goods Market Size Through 2029
The sporting and athletic…
Train Seat Market Overview, Key Growth Factors, and Insights on Top Players
The train seat industry is experiencing notable growth, driven by advancements in technology and increasing demand for improved passenger comfort. As rail travel evolves, so does the need for innovative, efficient, and adaptable seating solutions that cater to modern requirements. Let's explore the current market status, key players, trends, and segments shaping the future of train seating.
Train Seat Market Size and Growth Expectations
The train seat market has seen…
Leading Companies Solidifying Their Presence in the Spunbond Nonwovens Market
The spunbond nonwovens industry has been experiencing notable growth and shows promising prospects for the coming years. This expanding market is being driven by several innovations and increasing demand across diverse sectors, signaling a robust future.
Projected Growth and Market Size of the Spunbond Nonwovens Market
The spunbond nonwovens market has demonstrated solid expansion recently, with its size expected to rise from $15.57 billion in 2024 to $16.59 billion in…
More Releases for Geofencing
Key Factor Supporting Geofencing Market Development in 2025: Mobile Device Penet …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Geofencing Market Size By 2025?
In recent years, the market size for geofencing has seen tremendous expansion. It is projected to inflate from $2.73 billion in 2024 to $3.39 billion in 2025, achieving a compound annual growth rate (CAGR) of 24.0%. The historical growth period's…
Emerging Trends to Reshape the Geofencing Market: Increasing Focus On Enhancing …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Geofencing Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The scale of the geofencing market has expanded dramatically in the past few years. The progress from $2.73 billion in 2024 to $3.41 billion in 2025 represents a compound annual growth rate (CAGR) of 24.7%. Various…
Mobile Device Penetration Driving The Geofencing Market Growth: Key Factor Drivi …
The Geofencing Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Geofencing Market Size During the Forecast Period?
In recent years, the size of the geofencing market has witnessed exponential growth. The market is estimated to expand from $2.73 billion in 2024 to…
Internet Of Things (IoT) Contribution To Geofencing Software Market Momentum: An …
The Geofencing Software Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the Geofencing Software Market?
The market scale for geofencing software has witnessed rapid expansion lately. The market value is predicted to surge from $49.63 billion in 2024 to $55.54…
Internet Of Things (IoT) Contribution To Geofencing Software Market Momentum Dri …
What industry-specific factors are fueling the growth of the geofencing software market?
The geofencing software market is projected to expand due to the escalating demand for the Internet of Things (IoT). IoT, which refers to a network of interconnected physical objects equipped with sensors, software and other technology to collect and share data via the internet, is seeing heightened demand. This is attributed to a number of factors such as the…
Key Influencer in the Geofencing Market 2025: Mobile Device Penetration Driving …
What combination of drivers is leading to accelerated growth in the geofencing market?
Expected advancements in the geofencing market are being powered by the rising prevalence of mobile devices. These wireless, portable electronic tools, primarily utilized for communication and data transmission, are increasingly popular due to ongoing growth in e-commerce, usage of social media and messaging apps, and cost-effective data packages. Geofencing employs mobile device GPS technology to develop location-aware apps…
