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The Geomarketing Software Market size is forecast to increase by USD 29.5 billion, at a CAGR of 25.77% between 2023 and 2028. The growth rate of the market depends on several factors, including the increasing adoption of technologically advanced mobile devices, the increasing use of location-based decision-making, and the need to improve business efficiency.
The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 10 market companies, including Bluedot Industries Pty Ltd., CartoDB Inc., Cisco Systems Inc., Egon Srl, Esri Global Inc., Galigeo SAS, GeoConcept SAS, International Business Machines Corp., Microsoft Corp., Nexiga GmbH, Oracle Corp., Qualcomm Inc., Quuppa Oy, Radar Labs Inc., Reveal Mobile Inc., Salesforce Inc., UrbiStat Srl, and WIGeoGIS Softwareerstellungs und Handels GmbH . Additionally, Adobe Inc offers geomarketing software such as Adobe Marketo Engage, largest marketing automation platform, a singular solution that attract, segment and nurture customers from discovery to biggest fan.
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Increasing adoption of technologically advanced mobile devices drives market growth. The number of mobile subscribers has increased rapidly across the globe, and people are opting for technologically advanced mobile devices for both personal and professional purposes. In addition, this has led to an increase in the generation of location-based data from smart device users.
Moreover, factors such as improvements in user interfaces in mobile apps and the use of location-enabled mobile devices, such as smartphones and tablets that offer high processing speed, have increased the adoption of marketing software across the globe among end-user sectors. In addition, enterprises are providing their employees with handheld devices for business purposes and to support the generation of location data. As a result, smart mobile device manufacturers are developing new devices that can generate location-based data from business applications. Hence, such factors are driving the market growth during the forecast period.
The evolution of programmatic advertisement buying is an emerging trend in the market. Programmatic advertisement buying enables consumers in automating their decision-making processes for buying digital advertisements by targeting specific demographic segments and audiences. In addition, these advertisements are placed using real-time bidding (RTB) and AI for online display, mobile and video campaigns, and social media campaigning.
Moreover, programmatic advertisements use geomarketing software for buying digital advertisements. In addition, traditionally, digital advertisements were sold and bought by salespeople, who can be unreliable and expensive. Furthermore, geomarketing software helps make the advertisement buying process more efficient; moreover, the removal of human intervention has also made the buying process less expensive. Hence, such factors are driving the market trends and analysis during the forecast period.
The rise in privacy and security issues regarding sensitive data hinders market growth. Geomarketing software comprises several safety concerns due to the high use of sensitive data related to customer location. In addition, the risk of an information leak in marketing software is high and can result in the misuse or manipulation of data.
Moreover, customers are concerned about the lack of transparency regarding the use and processing of this data. In addition, these issues can lead to a number of legal and security concerns related to organizational infrastructure, access control, identity management, risk management, regulatory and legislative compliance, auditing, and logging. In a multi-tenant model, there is always a risk of information leakage, which could result in the misuse or manipulation of data. Hence, such factors are hindering the market growth during the forecast period.
The outdoor segment is estimated to witness significant growth during the forecast period. The growth of this segment is fuelled by the rising demand from the telecommunications, retail, BFSI, travel and tourism, and transportation sectors in developing economies such as India, the US, Qatar, the UAE, China, and Brazil. In addition, the growth of this segment is mainly attributed to the advantages associated with geomarketing software applications.
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The outdoor segment was the largest segment and was valued at USD 3.63 billion in 2018. For instance, when retailers need to know about their target customers, outdoor geomarketing software deployed at optimal store locations helps them in finding these target groups and in analyzing their behavior by obtaining the data of customers. In addition, the benefits of using geomarketing software include real-time global geographic visibility, intelligent linking and mapping, and sophisticated sourcing across all locations. Hence, such factors are fuelling the demand of this segment which in turn drives the market during the forecast period.
The various advantages offered by the cloud-based segment will increase the market growth. The cloud-based segment is expected to grow at a high rate fuelled by the increasing popularity of cloud platforms among end-users. In addition, many market players, such as Egon and UrbiStat Srl (UrbiStat), offer geomarketing software based on the SaaS model. Cloud-based solutions are less expensive than on-premises software. Cloud-based geomarketing software does not require the actual installation of the hardware and software at the end-users premises; instead, it is maintained at the company's data center, from where it can be accessed by the end-user on a subscription basis. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The US and Canada are the prominent contributing countries in the region. In addition, this is primarily attributed to the increasing adoption of advanced technologies in various sectors, such as telecommunication, retail, healthcare, media, and entertainment. Moreover, the significant presence of location software providers in North America is augmenting the adoption of customer management and engagement solutions, which is creating demand for efficient geomarketing software and solutions. Furthermore, in the US, marketers in various end-user sectors use mobile ads, display ads, and search ads to promote their products and services. In addition, advertisers are spending more on mobile advertisements as consumers are increasingly using their mobile devices for a range of applications. Hence, such factors are driving the market in North America during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alphabet Inc: The company offers geomarketing software through its subsidiary Google such as Google Ads geofencing.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is at the forefront of providing real-time information across various industries, including farming, logistics, and automotive, through GPS-enabled precision applications. This technology enhances mobile workforce management, offering roadside assistance and traffic updates. As businesses embrace location-based solutions, the market sees substantial growth in revenue. However, uniform regulatory standards are essential to address customer data privacy and security concerns, safeguarding against fraud and malicious code. The shift from physical stores to digital stores demands largescale data usage, prompting significant investments in technology enhancement.
In response to dynamic consumer behavior, advanced marketing analytics tools, smart wearables, and wireless connectivity play crucial roles in tailoring marketing strategies. The market leverages the Internet of Things and cloud computing to deliver traffic analytics and real-time geodata. Geomarketing solutions facilitate digitization, allowing businesses to engage customers effectively, especially during periods of panic buying and stay-at-home guidelines. The adoption of digital geomarketing technology opens growth opportunities for service providers, emphasizing brand dependence on personalized customer experiences to reduce churn rates. Collaboration with government authorities, telecommunications, transportation, and retailers enables the development of innovative services like pickups, navigation, and customer support, fostering brand loyalty in a competitive landscape.
Geomarketing Software Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 25.77% |
Market Growth 2024-2028 |
USD 29.25 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
22.85 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 39% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adobe Inc., Alphabet Inc., Bluedot Industries Pty Ltd., CartoDB Inc., Cisco Systems Inc., Egon Srl, Esri Global Inc., Galigeo SAS, GeoConcept SAS, International Business Machines Corp., Microsoft Corp., Nexiga GmbH, Oracle Corp., Qualcomm Inc., Quuppa Oy, Radar Labs Inc., Reveal Mobile Inc., Salesforce Inc., UrbiStat Srl, and WIGeoGIS Softwareerstellungs und Handels GmbH |
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, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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