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Pulished Date February, 2020
ID: 8754
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Geofencing Market by Component (Solution, Services), By Geofencing Type (Fixed, Mobile), By Organization Size (SMEs, Large Enterprises), By Vertical (BFSI, Healthcare, Manufacturing, Retail, Media & Entertainment) and Region - Global Industry Size, Growth, Share, Trends, and Demand Analysis Forecast Report 2019 to 2024

Pulished: February, 2020
ID: 8754
Pages: 175

Geofencing Market Value, Growth Rate, and Market Insights:

Geofencing Market was estimated at USD 500 Million in 2019 and is expected to reach USD 1,825.3 Million by 2024, growing at the CAGR of 27.5%. Major companies such as Apple, Thumbvista, Pulsate, and Bluedot Innovation are investing in the geofencing market as demand for geofencing alternatives is rising across multiple vertical industries. Increasing consumer requirement for location-based apps is a crucial variable contributing to market growth. Another significant factor driving development in the geofencing sector is the increase in the use of spatial data and analytical instruments. The facility of geofencing inclusion and implementation leads to business development.

Geofencing provides security to track the accuracy of resources such as the fleets, stocks, etc. This monitoring enables the user to optimize the price performance and increase company profit. In recent years, the spread of smartphones worldwide drives the use of effective geofenced technology.

Geofencing is a virtual fencing that is maintained around a country's intended borders. Geofencing mainly involves the use of GPS (Global Positioning Systems) or RFID (Radio Frequency Identification) information to run software programs. The data contains the localization information according to the equipment's geographical parameters. An administrator, who set up geofencing can set up the event triggering the main factor, which contributes to the growing popularity of the respective market.

Furthermore, owing to the many apps, such as Google Earth, geofencing is increasingly popular. This incorporation enables managers to define the geofencing boundaries above the satellite vision according to the specific location available to the Google Earth application, and also allows users to use longitude and latitude or user-based and web-based mapping to define the boundaries.

Geofencing Market Research Methodology:

Market research involves studying market trends, growth patterns, and understanding the influence of variables like macro and microeconomic conditions, geopolitical and demographic conditions on the market value and market dynamics.

The research methodology used to calculate and forecast the Geofencing market began by collecting information on the market key players' sales using multiple sources via secondary research. In order to identify market segmentation, supplier offers have been considered.

Recent developments in Geofencing Market:

February 2019– With the release of Geospatial Environment Online (GEO) 2.0 throughout Europe, DJI, a supplier of civil aircraft and aerial surveillance technology, has enhanced their geofencing capabilities. DJI decided to supply Altitude Angel as its fresh partner to the airports, TFRs, and other delicate sectors in 32 European nations with precise, real-time and applicable geospatial information.

January 2018– Bluedot Innovation started Salesforce AppExchange Bluedot Location Marketing. This has enabled companies to communicate thoroughly newly with their clients, associates and staff. Bluedot Location Marketing provides a precise place and geofencing facilities that will allow companies to use the location authority to create individual trips.

Geofencing Market Growth Insights:

Retails are eager to digitize to achieve a faithful client base, given that digitalization enables them to more effectively and remotely participate in their clients. Retailers watch as their clients step into the geofenced region and use this effective geofencing method as advertising notifications to obtain them.

Automotive distributors use geofencing to monitor clients undergoing the tests and can achieve quick responses to prevent loss of assets if clients are trying to leave the designated region for the instant warning.

The increase in smartphones worldwide encourages retailers in their geofenced region to embrace current geofencing technology as they can monitor even more tracks. It is noted that smartphone penetration is improved in emerging nations with 82% versus 80% in advanced countries. In addition, in 2019, smartphone deliveries worldwide are anticipated to achieve 2.2 billion units. Therefore, in emerging nations, the industry for effective geofencing offers development possibilities.

Distributors use unconventional techniques such as aerial drones to supply their clients with products.

Drivers and market limitations:

The Geofencing market size is exponentially expanding owing to the following:

  • In the last few years, the growth of smartphone penetration worldwide has led to the use of active geofencing technology.
  • The growing implementation bases.

Restraints of Geofencing market can be

  • High initial setup cost.
  • Tracking smartphone locations and consumer protection concerns due to regular cases of breach of data.

Opportunities of Geofencing market can be

  • Emerging markets around the world.

Detailed Segmentation of the Geofencing Market:

By Component:

  • Solution
  • Services

By Geofencing Type:

  • Fixed
  • Mobile

By Organization Size:

  • SMEs
  • Large Enterprises

By Vertical:

  • BFSI
  • Healthcare
  • Manufacturing
  • Retail
  • Media & Entertainment

Geographical and Regional Insights:

The countries such as India and China, in the Asia-Pacific region are highly growing economies. Small and medium-sized enterprises (SMBs) are enormously present in these countries. The government initiatives such as Digital India has also encouraged technology deployment in businesses.

In order to better connect its customers, SMBs adopt pharmacies and existing geofencing technologies. As there are many beacon units available under USD 20, the cost associated with this technology is negligible. We can also quickly develop the software platform required to manage the messages.

Leading Key Players Involved in this research report are:

  1. Apple Inc. (US )
  2. Bluedot Innov (US)
  3. Embitel (India)
  4. Esri (US)
  5. Factual Inc. (US)
  6. GeoMoby (Australia)
  7. Gpswox.com (UK)
  8. InVisage (US)
  9. Localytics (US)
  10. LocationSmart (US)
  11. MAPCITE (UK)

Key highlights of the research report:

  • This report provides a detailed quantitative analysis of the current market and estimates for the years 2019-2024, which help identify the prevailing market opportunities.
  • Important changes in market dynamics.
  • Report and evaluation of recent developments in the industry.
  • Competitive intelligence helps to understand the competitive scenario in geographical regions.
  • The key players in the market are described in detail in this report, and their strategies are analyzed in-depth to understand the competitive advantage of the market better.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Component                

                                5.1.1 Introduction           

                                5.1.2 Solution    

                                5.1.3 Services    

                                5.1.4  Y-o-Y Growth Analysis, By Component      

                                5.1.5  Market Attractiveness Analysis, By Component    

                                5.1.6  Market Share Analysis, By Component      

                5.2 Geofencing Type                     

                                5.2.1 Introduction           

                                5.2.2 Fixed         

                                5.2.3 Mobile      

                                5.2.4 Y-o-Y Growth Analysis, By Geofencing Type             

                                5.2.5 Market Attractiveness Analysis, By Geofencing Type           

                                5.2.6 Market Share Analysis, By Geofencing Type            

                5.3 Organizational Size                  

                                5.3.1 Introduction           

                                5.3.2 SMEs         

                                5.3.3 Large Enterprises 

                                5.3.4 Y-o-Y Growth Analysis, By Organizational Size         

                                5.3.5  Market Attractiveness Analysis, By Organizational Size      

                                5.3.6  Market Share Analysis, By Organizational Size        

                5.4 Vertical                         

                                5.4.1 Introduction           

                                5.4.2 BFSI            

                                5.4.3 Healthcare              

                                5.4.4 Manufacturing      

                                5.4.5 Retail         

                                5.4.6 Media & Entertainment    

                                5.4.7 Y-o-Y Growth Analysis, By Vertical                

                                5.4.8  Market Attractiveness Analysis, By Vertical             

                                5.4.9  Market Share Analysis, By Vertical               

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Component

                                                6.1.3.3 By Geofencing Type

                                                6.1.3.4 By Organizational Size

                                                6.1.3.5 By Vertical

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Component

                                                6.1.4.3 By Geofencing Type

                                                6.1.4.4 By Organizational Size

                                                6.1.4.5 By Vertical

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Component

                                                6.1.5.3 By Geofencing Type

                                                6.1.5.4 By Organizational Size

                                                6.1.5.5 By Vertical

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 Apple Inc. (US)                          

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 Bluedot Innov (US)                 

                8.3 Embitel (India)                          

                8.4 Esri (Us)                       

                8.5 Factual Inc. (US)                       

                8.6 GeoMoby (Australia)                             

                8.7 Gpswox.com (UK)                   

                8.8 InVisage (US)                             

                8.9 Localytics (US)                           

                8.10 Location Smart (US)                              

                8.11 MAPCITE (UK)                         

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of By Component, Type , Vertical Type, and along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Geofencing Market By Region, From 2019-2024 ( USD Million )
  2. Global Geofencing Market By Component, From 2019-2024 ( USD Million )
  3. Global Solution Market By Region, From 2019-2024 ( USD Million )
  4. Global Services Market By Region, From 2019-2024 ( USD Million )
  5. Global Geofencing Market By Type, From 2019-2024 ( USD Million )
  6. Global Fixed Market By Region, From 2019-2024 ( USD Million )
  7. Global Mobile Market By Region, From 2019-2024 ( USD Million )
  8. Global Geofencing Market By Organizational size, From 2019-2024 ( USD Million )
  9. Global SME's Market By Region, From 2019-2024 ( USD Million )
  10. Global Large Enterprises Market By Region, From 2019-2024 ( USD Million )
  11. Global Geofencing Market By Vertical, From 2019-2024 ( USD Million )
  12. Global BFSI Market By Region, From 2019-2024 ( USD Million )
  13. Global Healthcare Market By Region, From 2019-2024 ( USD Million )
  14. Global Manufacturing Market By Region, From 2019-2024 ( USD Million )
  15. Global Retail Market By Region, From 2019-2024 ( USD Million )
  16. Global Media & Entertainment Market By Region, From 2019-2024 ( USD Million )

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