Rising adoption of wireless technologies such as GPS and location-based services is one of the factors driving the market growth. Gaining popularity of smart phones, tablets, and other mobile devices is also contributing the market growth. Geofencing offers real-time tracking and navigation of the predefined location, has expanded its application across various end-use industries. Moreover, the use of geofencing to enhance regional sales, provide personalization to customers and increase analytics & tools for metric analysis has generated its demand for mobile marketing.
The latest report by Value Market Research expects the Global Geofencing Market to reach USD 2,748.3 million by 2025. It was valued USD 683.2 million in 2018. The report foresees a 22% CAGR from 2019 to 2025.
API MANAGEMENT AND TESTING DOMINATED THE SEGMENT
In 2018, API Management and Testing emerged as the leading segment by accounting major market share. API offers application access management, device data communication, and security services are driving the segment growth. In addition to this, it provides both automated and manual mobile application testing to the commercial customers, for testing native and hybrid mobile applications, is another factor pushing the segment growth.
FIXED GEOFENCING ACCOUNTED FOR MAJOR MARKET SHARE
By product, fixed geofencing led the segment and has grabbed the market share in 2018. Expanding application areas of static geofencing such as an advertisement, asset management, recreational services, and others are driving the segment growth.
TRANSPORTATION AND LOGISTICS EMERGED AS THE LEADING APPLICATION
On the basis of application, the transportation and logistics dominated the segment in 2018. Growing adoption of geofencing for managing a large-scale fleet across various geographies is driving the segment growth. In transportation and logistics, geofencing is rapidly adopted owing to excellent real-time coordination, higher security, and better planning of carrier movement and deliveries is again pushing the market growth.
NORTH AMERICA DOMINATED THE REGIONAL MARKET
Geographically, North America led the market in 2018. Excellent technological infrastructure with the growing adoption of smart phones, tablets and other smart mobile devices are driving the regional market growth. Increase in spending over R&D activities leading to the development of new location-based technologies is further propelling the market growth in North America.
PROMINENT PLAYERS OF THE MARKET
The geofencing market is booming due to the presence of players like Apple, ESRI, Geomoby, Simpli.Fi, Thumbvista, and many others.
As per this study, the Global Geofencing Market was valued USD 683.2 MN (by revenue) in 2018 and is anticipated to reach USD 2,748.3 MN by 2025 with a CAGR of 22%.
Geofencing can be referred to the virtual fencing that is created around the desired boundary locations of a land. Geofencing primarily composed of the software programs which are executed via using the gathering data from the GPS (Global Positioning Systems) or the RFID (Radio Frequency Identification). This data includes the location details as per the geographic parameters of the person’s mobile.
The rising demand for location-based services (LBS) along with the rising penetration of mobile devices is expected to facilitate the growth of the geofencing market over the forecasted timeline. Rising demand for LBS for real-time, location-based navigation and tracking and for gathering market intelligence is again expected to fuel the market growth. Growing awareness about the benefits of location-based monitoring and management of mobile resources for increasing process and workforce productivity across the organization will definitely stimulate the market growth. Further, rising adoption of the technology across the transport and logistics sector coupled with the increasing demand from the retail industry for proximity-based promotion and marketing will also augment the geofencing market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of geofencing.
The broad geofencing market has been sub-grouped into service, product, and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Deployment And Integration
- Support And Maintenance
- Consulting And Advisory
- API Management And Testing
- Fixed Geofencing
- Mobile Geofencing
- Retail and Hospitality
- Industrial Manufacturing
- Media & Entertainment
- Transportation and Logistics
- Government and Defense
- Others (IT and Telecom, Human Resources, Audience engagement, Telematics, etc.)
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for geofencing in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Geofencing Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the geofencing market include Apple, ESRI, Geomoby, Simpli.Fi, Thumbvista, and others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.
2. EXECUTIVE SUMMARY
- Introduction To Geofencing
- Report Description
- Objectives Of The Study
- Research Scope
- Research Methodology
3. MARKET ANALYSIS
- Market Highlight
- Global Geofencing Market: Snapshot
4. GEOFENCING MARKET ANALYSIS BY SERVICE
- Porter’s Five Forces Analysis
- Value Chain Analysis
5. GEOFENCING MARKET ANALYSIS BY PRODUCT
- Market In Deployment and Integration
- Market In Support and Maintenance
- Market In Consulting and Advisory
- Market In API Management and Testing
6. GEOFENCING MARKET ANALYSIS BY APPLICATION
- Market In Fixed Geofencing
- Market In Mobile Geofencing
7. GEOFENCING MARKET ANALYSIS BY GEOGRAPHY
- Market In BFSI
- Market In Healthcare
- Market In Retail and Hospitality
- Market In Industrial Manufacturing
- Market In Media & Entertainment
- Market In Transportation and Logistics
- Market In Government and Defense
- Market In Others (IT and Telecom, Human Resources, Audience engagement, Telematics, etc.)
8. COMPETITIVE LANDSCAPE OF THE GEOFENCING COMPANIES
- North America (NA)
- North America Market Estimates
- North America Market Estimates By Country
- United States (U.S.) Market Estimates By Segments
- Rest Of North America Market Estimates By Segments
- Europe (EU)
- Europe Market Estimates
- Europe Market Estimates By Country
- United Kingdom (UK) Market Estimates By Segments
- Germany Market Estimates By Segments
- France Market Estimates By Segments
- Rest Of Europe Market Estimates By Segments
- Asia Pacific (APAC)
- Asia Pacific Market Estimates
- Asia Pacific Market Estimates By Country
- China Market Estimates By Segments
- Japan Market Estimates By Segments
- India Market Estimates By Segments
- Rest Of Asia Pacific Market Estimates By Segments
- Latin America (LA)
- Latin America Market Estimates
- Latin America Market Estimates By Country
- Brazil Market Estimates By Segments
- Rest Of Latin America Market Estimates By Segments
- Middle East And Africa (MEA)
- Middle East And Africa Market Estimates
- Middle East And Africa Market Estimates By Country
- Middle East Market Estimates By Segments
- Africa Market Estimates By Segments
9. COMPANY PROFILES OF THE GEOFENCING INDUSTRY (Company Overview, Financial, Major Products & Recent Development)
- Market Competition
- Mergers And Acquisitions
- New Product Launches
- Other Developments
* Tentative TOC
LIST OF TABLES
Table 1. Market Highlights Of Geofencing
Table 2. Global Geofencing Market By Service
Table 3. Global Geofencing Market By Product
Table 4. Global Geofencing Market By Application
Table 5. Global Geofencing Market By Geography
Table 6. North America Geofencing Market
Table 7. Europe Geofencing Market
Table 8. Asia Pacific Geofencing Market
Table 9. Latin America Geofencing Market
Table 10. Middle East And Africa Geofencing Market
Table 11. Partnership/Collaboration/Agreements
Table 12. Mergers And Acquisitions
Table 13. New Product Development
Table 14. Other Developments
LIST OF FIGURES
Fig. 1. Market Segmentation Of Geofencing Market
Fig. 2. Top-Down Approach
Fig. 3. Bottom-Up Approach
Fig. 4. Market Highlights Of Geofencing
Fig. 5. Porter’s Five Forces Analysis
Fig. 6. Value Chain Analysis
Fig. 7. Global Geofencing Market By Service
Fig. 8. Global Geofencing Market By Product
Fig. 9. Global Geofencing Market By Application
Fig. 10. Global Geofencing Market By Geography
Fig. 11. North America Geofencing Market
Fig. 12. Europe Geofencing Market
Fig. 13. Asia Pacific Geofencing Market
Fig. 14. Latin America Geofencing Market
Fig. 15. Middle East And Africa Geofencing Market
Fig. 16. Market Share Of Geofencing Companies
Fig. 17. Recent Developments In Geofencing Industry
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.