1. Market Research
  2. > ICT
  3. > Software Market Trends
Geofencing Market by Component, Geofencing Type, Organization Size, Vertical And Region - Global Forecast to 2022

Geofencing Market by Component, Geofencing Type, Organization Size, Vertical And Region - Global Forecast to 2022

  • September 2017
  • 147 pages
  • ID: 5129360
  • Format: PDF
  • By MarketsandMarkets

Summary

Table of Contents

Search Inside

“The geofencing market is expected to grow at a Compound Annual Growth Rate (CAGR) of 27.5%, due to the increase in the number of connected devices, emergence of smartphones, and increasing social networking trends.”
The global geofencing market is expected to grow from USD 542.7 million in 2017 to USD 1,825.3 million by 2022, at a CAGR of 27.5%. Technological advancements, rise in the use of spatial data and analytical tools, increasing applications in numerous industry verticals, higher adoption of location-based applications, and rise in Business Intelligence (BI) among businesses are some of the factors contributing to the growth of the global geofencing market.

Increase in the use of smartphones, growth in mobile commerce, and availability of low-cost, GPS-enabled smartphones are expected to further drive the geofencing market growth. Technological advancements in cloud computing, Global Navigation Satellite System (GNSS), Global Positioning System (GPS), and wireless technologies support the growth of Location-Based Services (LBS), especially geofencing. Legal and privacy concerns and the rising awareness regarding safety and security among customers are the major factors restricting the growth of the geofencing market.

“The API management and testing services segment is expected to grow at the highest CAGR during the forecast period.”
API management and testing services are being rapidly adopted by developed countries, such as the US and Canada. API management services help organizations in application access management, device data communication and interaction, and security.

Additionally, application operation, production support, release and change support, and middleware product support are also carried out by API management services. Furthermore, application testing service providers offer both automated and manual mobile application testing to the commercial customers, for testing both native and hybrid mobile applications.

“The Banking, Financial Services, and Insurance (BFSI) segment is expected to grow at the highest CAGR in the geofencing market during the forecast period.”
In the North American and APAC regions, the BFSI vertical is expected to witness the highest CAGR. Banks and financial institutions are adopting geofencing solutions and services to enhance the customer experience and services.

With its ability to provide additional security for fraud prevention and enhance the customer relationship, the geofencing technology can significantly improve the customer satisfaction and business revenue.

“Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period.”
The APAC market is expected to witness significant growth and is projected to be the fastest growing region in the geofencing market. APAC has witnessed the advanced and dynamic adoption of new technologies, and it has always been a lucrative market.

The APAC market is expected to be one of the fastest growing markets, as the governments in the APAC countries are continuously investing in the R&D of location-based and geofencing services. The rise in the use of smartphones and the increasing social networking trends have increased the demand for geofencing solutions in the APAC region. Geofencing solutions have helped APAC organizations enhance their business productivity, improve the time-to-market for products and services, increase efficiency, and reduce the overall business costs.

In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The breakup of the profiles of the primary participants is as follows:
• By Company: Tier 1 – 30 %, Tier 2 – 40%, and Tier 3 – 30%
• By Designation: C-Level – 72%, Director Level – 14%, and Others – 14%
• By Region: North America – 57%, Europe – 14%, APAC – 29%

The geofencing market includes various vendors, such as Apple (US), Bluedot Innovation (US), DreamOrbit (India), Embitel (India), Esri (US), Factual (US), GeoMoby (Australia), GPSWOX (US), InVisage (US), Localytics (US), LocationSmart (US), MAPCITE (UK), Maven Systems (India), Mobinius Technologies (India), MobiOcean (India), Nisos Technologies (US), Plot Projects (Netherlands), Pulsate (US), Raveon Technologies (US), Simpli.fi (US), SuccorfishM2M (UK), Swirl Networks (US), Thumbvista (US), Urban Airship (US), and Visioglobe (France).

Research Coverage:
The report includes an in-depth competitive analysis of the key players in the geofencing market along with their company profile, recent developments, and key market strategies. The report segments the geofencing market by component (solution and services), geofencing type, organization size, vertical, and region.

Reasons to Buy the Report:
The geofencing market has been segmented on the basis of components (solution and services), geofencing types, organization size, verticals, and regions.

The report will help market leaders/new entrants in the geofencing market in the following ways:
1. The overall geofencing market revenue stream has been estimated based on the revenues of the vendors offering geofencing services and solutions. It is inclusive of deployment and integration services, support and maintenance services, consulting and advisory services, and API management and testing services. The report provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split into regions.
2. The report will help the stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
3. The report will help the stakeholders understand their competitors and gain more insights to improve their market position. The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and mergers and acquisitions related to the geofencing market.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2017

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on