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Global Geofencing Market Size, Share, Trends, Analysis: By Component: Solution, Services; By Service: Deployment and Integration Services, Support and Maintenance Services, Consulting and Advisory Services, Others; By Type; By Connectivity Technology; By Organisation Type; Regional Analysis; Competitive Landscape; 2024-2032
Global Geofencing Market Outlook
The global geofencing market is expected to grow in the forecast period of 2024-2032 at a CAGR of 25%.
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Rising Use of Location-Based Marketing Boosting the Growth of the Geofencing Industry
Smartphone ownership and internet penetration have risen significantly in recent years. The rising popularity of smart, GPS-enabled, and location-aware smartphones is aiding the market growth. Geofencing offers an opportunity to target consumers individually by personalising their advertisements and alerts by sending them at a relevant and real time, hence increasing consumer engagement, which is propelling the industry growth. It also increases the click-rate of notifications if they are location-based and relevant. Geofencing is a cost-effective marketing tool that offers a wide range of options in accordance with financial capacity. Hence, it is increasingly used by various companies, which is propelling the market growth.
Moreover, geofencing campaigns are easy to create and accessible as they do not require technical skills, hence augmenting the industry growth. It also aids in addressing issues and queries of a consumer within a targeted geofence. As geofencing can create a virtual geofence, it can display advertisements on digital and social media to increase awareness. In addition, it can track real-time data and allow businesses to analyse their marketing behaviour, which is further fuelling the market growth. Small and medium enterprises are increasingly using geofencing marketing to retain more consumers and expand their presence. As geofencing can enable marketing for a precise audience, it increases the chances of sales. This is also invigorating the market growth.
Geofencing: Market Segmentation
Geofencing is a location-based service that is used to trigger a marketing action using radio frequency identification (RFID) from an advertisement or other software program. It can be used to track a consumer’s location through Bluetooth, GPS, and beacons, which can be used by marketers to individualise consumer’s advertisements.
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The major components of geofencing are:
- Services
- Solution
Based on service, the market is divided into:
- Deployment and Integration Services
- Support and Maintenance Services
- Consulting and Advisory Services
- API Management and Testing Services
The market can be broadly categorised on the basis of its types into:
- Fixed
- Mobile
By connectivity technology, the market is bifurcated into:
- Active
- Passive
On the basis of organisation type, the industry is segmented into:
- Small and Medium Enterprises
- Large Enterprises
The EMR report looks into the regional markets of geofencing like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand for Employee Monitoring in Remote Working to Bolster the Market Growth for Geofencing
The demand for geofencing has increased considerably owing to the surge of the coronavirus pandemic. As work from home is becoming the new normal, various companies are switching to long-term remote work. This is increasing the demand for geofencing applications to allow employees to clock in and clock out electronically. It also allows employees to manage their time effectively and aids them in increasing productivity. This is expected to augment the market growth. Due to technological advancements, geofencing is increasingly used for recruitment and employee training. It is used to set up a geofence to search for potential candidates effectively. It also increases the number of applications to allow businesses to choose the best candidate. Moreover, geofencing applications can be designed to send out a push notification with a reminder to check for compliance or safety updates for employee training on remote locations. Geofencing can also be used in the healthcare industry to set for patient updates to doctors and nurses in small areas. This is augmenting the industry growth.
Key Industry Players in the Global Geofencing Market
The report presents a detailed analysis of the following key players in the global geofencing market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Google LLC
- Apple Inc
- IBM Corporation
- Microsoft Corporation
- Bluedot Industries Pty. Ltd.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Service |
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| Breakup by Type |
|
| Breakup by Connectivity Technology |
|
| Breakup by Organisation Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Geofencing Market Analysis
8.1 Key Industry Highlights
8.2 Global Geofencing Historical Market (2018-2023)
8.3 Global Geofencing Market Forecast (2024-2032)
8.4 Global Geofencing Market by Component
8.4.1 Solution
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Services
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Geofencing Market by Service
8.5.1 Deployment and Integration Services
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Support and Maintenance Services
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Consulting and Advisory Services
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 API Management and Testing Services
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.6 Global Geofencing Market by Type
8.6.1 Fixed
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Mobile
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Geofencing Market by Connectivity Technology
8.7.1 Active
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Passive
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Geofencing Market by Organisation Type
8.8.1 Small and Medium Enterprises
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Large Enterprises
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.9 Global Geofencing Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.3 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Geofencing Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Geofencing Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Geofencing Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Geofencing Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Geofencing Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Google LLC
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Apple Inc
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 IBM Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Microsoft Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Bluedot Industries Pty. Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Geofencing Market: Key Industry Highlights, 2018 and 2032
2. Global Geofencing Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Geofencing Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Geofencing Historical Market: Breakup by Service (USD Billion), 2018-2023
5. Global Geofencing Market Forecast: Breakup by Service (USD Billion), 2024-2032
6. Global Geofencing Historical Market: Breakup by Type (USD Billion), 2018-2023
7. Global Geofencing Market Forecast: Breakup by Type (USD Billion), 2024-2032
8. Global Geofencing Historical Market: Breakup by Connectivity Technology (USD Billion), 2018-2023
9. Global Geofencing Market Forecast: Breakup by Connectivity Technology (USD Billion), 2024-2032
10. Global Geofencing Historical Market: Breakup by Organisation Size (USD Billion), 2018-2023
11. Global Geofencing Market Forecast: Breakup by Organisation Size (USD Billion), 2024-2032
12. Global Geofencing Historical Market: Breakup by Region (USD Billion), 2018-2023
13. Global Geofencing Market Forecast: Breakup by Region (USD Billion), 2024-2032
14. North America Global Geofencing Historical Market: Breakup by Country (USD Billion), 2018-2023
15. North America Global Geofencing Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Europe Global Geofencing Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Europe Global Geofencing Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Asia Pacific Global Geofencing Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Asia Pacific Global Geofencing Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Latin America Global Geofencing Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Latin America Global Geofencing Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Middle East and Africa Global Geofencing Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Middle East and Africa Global Geofencing Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Global Geofencing Market Structure
Key Questions Answered in the Report
The global geofencing market is projected to grow at a CAGR of 25% between 2024 and 2032.
The market is being driven by rising location-based smartphone ownership and the growing demand for personalised advertisements to boost marketing.
The key trends of the market include the rising demand for employee monitoring, use of geofencing for employee training, and the growing use of geofencing in the healthcare market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading components of geofencing are service and solution.
The major services of geofencing are deployment and integration services, support and maintenance services, consulting and advisory services, and API management and testing services.
The significant types of geofencing in the market are fixed and mobile.
The leading connectivity technologies are active and passive.
The significant organisation types in the market are small and medium enterprises and large enterprises.
The key players in the global geofencing market are Google LLC, Apple Inc, IBM Corporation, Microsoft Corporation, and Bluedot Industries Pty. Ltd., among others.
Analyst Review
The global geofencing market is driven by the rising location-based smartphone ownership. Aided by the growing demand for employees monitoring during remote work, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 25%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By components, the geofencing industry can be divided into services and solution. On the basis of service, the market can be classified into deployment and integration services, support and maintenance services, consulting and advisory services, and API management and testing services. Based on its types, the geofencing industry can be segmented into fixed and mobile. By connectivity technology, the market can be segmented into active and passive. On the basis of organisation types, the industry is bifurcated into small and medium enterprises and large enterprises. The major regional markets for geofencing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Google LLC, Apple Inc, IBM Corporation, Microsoft Corporation, and Bluedot Industries Pty. Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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