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Geofencing Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR71734
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The geofencing market share is expected to increase by USD 2.21 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 23.96%.

This geofencing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers geofencing market segmentation by product (fixed and mobile) and geography (North America, Europe, APAC, MEA, and South America). The geofencing market report also offers information on several market vendors, including Apple Inc., Bluedot Industries Pty. Ltd, Environmental Systems Research Institute Inc., GPSWOX LTD, LocationSmart, MAPCITE, Pulsate Mobile Ltd., Simplifi Holdings Inc., Thumbvista, and Upland Software, Inc.  among others.

What will the Geofencing Market Size be During the Forecast Period?

Geofencing Market Size

Download the Free Report Sample to Unlock the Geofencing Market Size for the Forecast Period and Other Important Statistics

 

Geofencing Market: Key Drivers and Challenges

The increase in location-based marketing is notably driving the geofencing market growth, although factors such as high initial setup costs and capital investment may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the geofencing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Geofencing Market Driver

The increase in location-based marketing is one of the critical factors that will drive the geofencing market. Various business organizations and enterprises are adopting geofencing advertising and marketing solutions or proximity marketing as a crucial strategy for location-based marketing. It enables marketers to improve consumer engagement and build brand equity. It also enhances customer service across entertainment parks, public places such as airports, retail stores, and hotels. This is done by connecting with customers through the location of their mobile devices and collecting data on preferences, purchase history, and time to send them personalized commercial messages and customized push notifications.

Key Geofencing Market Challenge

The market is capital-intensive, which is primarily attributed to the nascent nature of the market and high infrastructure requirements. The cost of investments for buyers of geofencing solutions is generally high due to extensive hardware requirements. Geofencing services are evolving and constantly changing. The adoption and implementation of location-based solutions like geofencing are expensive and time-consuming. This is because of the complexity of deployment and their integration with existing IT infrastructure across enterprises. Hence, the cost impact on an organization may be considerable, particularly in small enterprises such as small retail stores. Thus, the deployment of such solutions requires extensive planning to mitigate these cost risks, which, in turn, might pose a challenge to vendors during the forecast period. 

This geofencing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Geofencing Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Apple Inc.
  • Bluedot Industries Pty. Ltd
  • Environmental Systems Research Institute Inc.
  • GPSWOX LTD
  • LocationSmart
  • MAPCITE
  • Pulsate Mobile Ltd.
  • Simplifi Holdings Inc.
  • Thumbvista
  • Upland Software, Inc. 

 

This statistical study of the geofencing market encompasses successful business strategies deployed by the key vendors. The geofencing market is fragmented and the vendors are deploying growth strategies such as improving the accuracy and integration capabilities of their products to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The geofencing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Geofencing Market?

Geofencing Market Market segmentation by region

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39% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for geofencing in North America. Market growth in this region will be faster than the growth of the market in Europe and South America.

The growing penetration of smartphones and an increase in social media networking and mobile-based advertising will facilitate the geofencing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Geofencing Market?

Geofencing Market Segmentation

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The geofencing market share growth by the fixed segment will be significant during the forecast period. Fixed geofencing is used in various industries such as transportation and logistics, retail, healthcare, hospitality, and industrial manufacturing. Fixed geofencing increases purchases, consumption, and upselling through hardware-free pre-ordering and payments from any location. It automates the pickup process and notifies the staff as the customer approaches the store.

This report provides an accurate prediction of the contribution of all the segments to the growth of the geofencing market size and actionable market insights on post COVID-19 impact on each segment.

 

Geofencing Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 23.96%

Market growth 2021-2025

$ 2.21 billion

Market structure

Fragmented

YoY growth (%)

23.00

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 39%

Key consumer countries

US, China, Canada, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Apple Inc., Bluedot Industries Pty. Ltd, Environmental Systems Research Institute Inc., GPSWOX LTD, LocationSmart, MAPCITE, Pulsate Mobile Ltd., Simplifi Holdings Inc., Thumbvista, and Upland Software, Inc. 

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Geofencing Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive geofencing market growth during the next five years
  • Precise estimation of the geofencing market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the geofencing industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of geofencing market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Fixed - Market size and forecast 2020-2025
  • Mobile - Market size and forecast 2020-2025
  • Market opportunity by Product

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Apple Inc.
  • Bluedot Industries Pty. Ltd
  • Environmental Systems Research Institute Inc.
  • GPSWOX LTD
  • LocationSmart
  • MAPCITE
  • Pulsate Mobile Ltd.
  • Simplifi Holdings Inc.
  • Thumbvista

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Geofencing market growth will increase by $2209.90 million during 2020-2025.
The geofencing market is expected to grow at a CAGR of 23.96% during 2020-2025.
Technavio has segmented the geofencing market by product (Fixed and Mobile) and geographic (North America, Europe, APAC, MEA, and South America).
Apple Inc., Bluedot Industries Pty. Ltd, Environmental Systems Research Institute Inc., GPSWOX LTD, LocationSmart, MAPCITE, Pulsate Mobile Ltd., Simplifi Holdings Inc., Thumbvista, Upland Software, Inc.  are a few of the key vendors in the geofencing market.
North America will register the highest growth rate of 38.68% among the other regions. Therefore, the geofencing market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • Canada
  • Germany
  • UK
The key factors driving the geofencing market growth are:
  • Increase in location-based marketing
The geofencing market vendors should focus on grabbing business opportunities from the fixed segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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  • Details on the market shares of various regions
  • Five-force market analysis

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