Press release
Elevated Demand For Personalized Marketing Propels The Geomarketing Market: A Significant Driver Propelling The Geomarketing Market In 2025
Geomarketing Market Size
What Is the Geomarketing Market Size and Projected Growth Rate?
In the recent past, there has been a significant increase in the size of the geomarketing market. It is projected to increase from $21.34 billion in 2024 to $26.48 billion in 2025, registering a compound annual growth rate (CAGR) of 24.1%. This apparent growth in the historical period can be linked to factors such as data analytics, location-based services, e-commerce expansion, and retail development.
In the forthcoming years, the geomarketing market is predicted to experience a significant increase in its size. It is projected to reach a value of $62.89 billion by 2029, expanding at a compound annual growth rate (CAGR) of 24.1%. The enlargement in the projected phase can be credited to factors like IoT and connected devices, geomarketing customization, indoor geomarketing, as well as ethical and open practices. The forecast period will also see major trends such as big data and AI, augmented reality (AR) and virtual reality (VR), and data visualization.
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What Are the Major Segments in the Geomarketing Market?
The geo marketing market covered in this report is segmented -
1) By Solution: Software, Service
2) By Deployment Mode: Cloud, On-Premises
3) By Location: Indoor, Outdoor
4) By Verticals: Retail And E-Commerce, Healthcare And Life Sciences, Travel And Hospitality, Banking, Financial Services And Insurance, Media And Entertainment, Telecommunication And IT, Other Verticals
Subsegments:
1) By Software: Location Analytics Software, Geofencing Software, Mapping Software, Reporting And Visualization Software
2) By Service: Consulting Services, Deployment And Integration Services, Support And Maintenance Services
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What Are The Driving Geomarketing Market Evolution?
The surge in personalized marketing needs are anticipated to promote the expansion of the geomarketing market. Customized marketing strategies employing data analysis and advanced technologies to target or potential customers with tailored messages and product offerings is referred to as personalized marketing. Geomarketing's ability to target customers based on their location is essential for personalized marketing. For example, according to Salesforce Inc., a US-based cloud software company, a May 2022 survey of over 13,000 consumers and roughly 4,000 business buyers revealed that around 73% of customers hope companies will understand their specific requirements and anticipations and 61% of clients are satisfied with companies using their personal data beneficially and transparently. As a result, the increased demand for personalized marketing is propelling the geomarketing market forward. Geomarketing Market Driver: Upsurge in Usage of Mobile Devices Spurs Geomarketing Market Growth
Which Firms Dominate The Geomarketing Market Segments?
Major companies operating in the geomarketing market are Microsoft Corporation, Google LLC, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Inc., Oracle Corporation, Salesforce Inc., Ericsson Inc., Adobe Inc., Software AG, GroundTruth, CleverTap, Airship, Saksoft Ltd., Bluedot Innovation Inc., Xtremepush Limited, Cuebiq Inc., Hyp3r Inc., MobileBridge, PlaceIQ Inc., Gimbal Inc., Reveal Mobile Inc., Ubimo Ltd., Cloud4Wi Inc., Plot Projects, Navigine Corp, LocationSmart, Galigeo, ESRI Business Information Solutions Inc., Flame Analytics S.L.
What Are the Major Trends Shaping the Geomarketing Market?
Prominent entities in the geomarketing sector are focusing on innovating new high-tech solutions such as location-based services powered by artificial intelligence (AI) to deliver dependable customer services. These AI-driven location-based services utilize artificial intelligence to examine location data and furnish tailored experiences for users. For example, in November 2023, INRIX Inc., an American software firm, introduced INRIX Compass, a ground-breaking AI-powered technology designed to advance transportation intelligence. Compass makes use of INRIX's approximately 50-petabyte data lake and generative artificial intelligence (GenAI) to effectively tackle transportation issues. This technology amplifies INRIX IQ, a top-tier suite of cloud-based applications, by facilitating easy access to actionable insights derived from location-based data.
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Which Is The Largest Region In The Geomarketing Market?
North America was the largest region in the geomarketing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in geomarketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Geomarketing Market?
2. What is the CAGR expected in the Geomarketing Market?
3. What Are the Key Innovations Transforming the Geomarketing Industry?
4. Which Region Is Leading the Geomarketing Market?
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