Press release
Major Market Shift in Geofencing Industry: Increasing Focus On Enhancing Cybersecurity Offerings With Geofencing Capabilities
"What Is the Forecasted Market Size and Growth Rate for the Geofencing Market?The geofencing market will grow from $2.73 billion in 2024 to $3.41 billion in 2025, at a CAGR of 24.7%. The rise in location-aware marketing, the growing adoption of IoT devices, and the increased use of smartphones and mobile apps are key growth drivers.
The geofencing market is set for rapid expansion, growing to $8.14 billion by 2029 at a CAGR of 24.3%. Growth will be supported by increasing demand for real-time location tracking, the rise of fleet management solutions, regulatory backing for location-based marketing, the emergence of hyper-local targeting strategies, and geofencing adoption in smart city projects. Major trends include the expansion of geofencing applications, the rise of indoor geofencing solutions, developments in security and surveillance geofencing, hybrid geofencing models, and AR-enhanced geofencing solutions.
What Factors Are Propelling the Expansion of the Geofencing Market?
The growing penetration of mobile devices is expected to drive the expansion of the geofencing market in the future. A mobile device refers to a portable electronic device designed for wireless communication and data transmission. The increasing penetration of mobile devices is largely due to the popularity of social media platforms, messaging apps, the growth of e-commerce, and affordable data plans and tariffs. Geofencing utilizes GPS hardware and software in mobile devices to create location-based applications and integrate with apps to send customized notifications and perform actions based on predefined geographic areas. For example, in February 2022, a report from the GSM Association, a UK-based lobby group representing mobile network operators, revealed that global mobile service subscriptions reached 5.3 billion by the end of 2021, with projections indicating 400 million new subscribers by 2025. Therefore, the rise in mobile device penetration is driving the growth of the geofencing market.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14724&type=smp
Which Businesses Are at the Forefront of Geofencing Market Development?
Major companies operating in the geofencing market are Apple Inc., Google Plc, Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Huawei Technologies Co. Ltd., T-Mobile US Inc., Intel Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Xiaomi Corporation, Qualcomm Incorporated, Honeywell International Inc., SAP SE, Ericsson AB, Nokia Corporation, Embratel, Esri, Upland Localytics, Embitel, Bluedot Innovation, Mobinius Technologies, Pulsate Ltd.
What Are the Latest Innovations in the Geofencing Market?
In the geofencing market, companies are developing advanced security solutions, like geofencing capabilities, to improve cybersecurity. Trustifi LLC, a U.S.-based cybersecurity firm, introduced geofencing features in Australia in March 2024. These capabilities limit data transmission based on geographic boundaries, ensuring secure data handling, particularly in sectors like healthcare, finance, and legal industries.
How Is the Geofencing Market Segmented?
The geofencing market covered in this report is segmented -
1) By Geofencing Type: Fixed Geofencing, Mobile Geofencing
2) By Component: Solution, Services
3) By Technology: Active Geofencing, Passive Geofencing
4) By Enterprise Size: Small And Medium-Sized Enterprises, Large Enterprises
5) By Industry Vertical: Transportation And Logistics, Retail, Healthcare And Life Sciences, Industrial Manufacturing, Media And Entertainment, Government And Defense, Banking Financial Services and Insurance (BFSI), Other Industry Verticals
Subsegments:
1) By Fixed Geofencing: Perimeter Geofencing, Radius Geofencing, Polygon Geofencing
2) By Mobile Geofencing: Gps-Based Geofencing, Bluetooth-Based Geofencing, Wi-Fi-Based Geofencing
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/geofencing-global-market-report
Where Is the Geofencing Market Growth Most Prominent?
North America was the largest region in the geofencing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geofencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Geofencing Global Market Report?
- Market Size Analysis: Analyze the Geofencing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Geofencing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Geofencing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Geofencing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14724
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
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
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 Major Market Shift in Geofencing Industry: Increasing Focus On Enhancing Cybersecurity Offerings With Geofencing Capabilities here
News-ID: 3851334 • Views: …
More Releases from The Business research company

Emerging Markets And Increasing Disposable Income Fueling Diamond Market Growth: …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Diamond Market Through 2025?
In the past few years, there has been a stable expansion in the diamond market size. The prediction is it will increase from $1.33 billion in 2024 to $1.39 billion in 2025, boasting a compound annual growth rate…

2025-2034 Nonmetallic Minerals Mining Support Activities Market Outlook: Key Dri …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Nonmetallic Minerals Mining Support Activities Industry Market Size Be by 2025?
In the past few years, there has been a robust expansion in the size of the nonmetallic minerals mining support activities market. It is projected to escalate from $34.04 billion in 2024 to $36.55 billion…

Professional Street Sweeper Industry Outlook 2025-2029: Market Set to Cross $3.1 …
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 Professional Street Sweeper Market Size By 2025?
The market size of professional street sweepers has seen significant expansion in the past few years. The market, predicted to rise from $2.37 billion in 2024 to $2.5 billion in 2025, boasts a compound annual growth rate (CAGR)…

Key Trends Reshaping the Industrial Wet Dust Collector Market: Advanced Filtrati …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Industrial Wet Dust Collector Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a robust growth in the size of the industrial wet dust collector market. It is expected to swell from $1.89 billion in 2024 to $2 billion by 2025, showing a…
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…