Geomarketing Market

Global Geomarketing Market Size (2024 to 2029)

The global geomarketing market is expected to reach USD 36.45 billion in 2024 and USD 117.62 billion by 2029, growing at a CAGR of 26.4% during the forecast period.

The geomarketing process is not a completely new process. Innovations in the field give more and more precise and precise results. These innovations integrate geographic fences, bringing organizations and customers closer together. Like the area in which it is concentrated, geo-fencing allows organizations to attract candidates' clients or to become aware of their own image.

Factors contributing to the high growth rate are the increasing demand for location-based intelligence to improve business results, the use of location analysis and Big Data to collect comprehensive and differentiated information on markets and prospects, a wide acceptance of geolocated applications among consumers, and an increasing investment in digital marketing compared to conventional marketing.

Global Geomarketing Market Drivers:

The main drivers of the market are the growing demand for advanced digital marketing technologies, the increased adoption of Big Data platforms, and the continuous innovation in Business Intelligence solutions. Geomarketing is one of the fastest emerging areas of the largest market, digital marketing, where marketing strategies are realized and implemented by integrating location information of target customers. Geomarketing helps businesses get the right message to the right customer at the right time.

This market offers tremendous growth opportunities for solution providers to innovate their offerings and meet the diverse requirements of their customers' use cases. Although the market is growing in importance in many developed countries, the limited number of retail stores and shopping malls and the use of traditional advertising methods in many developing economies are hampering the growth of the geomarketing market. The main factors that should hinder the growth of the market are the lack of standardized and uniform technologies and the scarcity of resources and infrastructure in the industries.

Implementation and integration services help reduce the time required to implement and integrate geomarketing solutions. These services guarantee the safety and security of the integration of mobile devices into the geo-fenced ecosystem. Service providers protect and confirm the integration and installation of geomarketing solutions to guarantee quality.

Retailers use location-based promotions in several ways, like sending proximity to the mobile devices of potential customers passing through the outlet. In addition, when customers arrive near stores, merchants can be informed so that products ordered online by customers can be kept ready for pickup. These types of promotional activities help reach consumers in the right place at the right time. Geomarketing campaigns help improve the customer experience. Location analysis helps marketers find the most profitable customers and identify more customers.

Impact of COVID-19 on the global geomarketing market:

Analytics understands the impact of COVID-19 on the Geomarketing market. This has affected every market in the world and will take a long time to recover. The Geomarketing market report includes the current market scenario on the global platform with the impact of COVID-19 and also forecasts the development of the market over the forecast period.

GLOBAL GEOMARKETING MARKET REPORT COVERAGE:

This research report on the global geomarketing market has been segmented based on software, services, location technology, location, deployment mode, vertical industry, and region.

Global Geomarketing Market - By Software:

• Content Management       

• Location Anal

• Geofencing             

• Reporting and Visualization             

The software segment is also segmented in content management, location analysis, geofencing, reporting, and visualization.

Global Geomarketing Market - By Service:

• Consulting Services             

• Implementation and Integration Services 

• Support and Maintenance Services              

The services involved in the global market are consulting services, implementation and integration services, and support and maintenance services. Among services, the implementation and integration segment is expected to maintain the largest market size and grow at the highest CAGR over the forecast period.

Global Geomarketing Market - By Technology:

• Wi-Fi          

• Bluetooth

• Beacons   

• NFC            

• GPS            

The global market has been divided into global positioning systems (GPS), Bluetooth, Wi-Fi, and iBeacon. Depending on the location, the market is forked indoors and outdoors.

Global Geomarketing Market - By Deployment Mode:

• Indoor       

• Outdoor   

The market has been segmented into cloud and on-site. Cloud deployments are recording a substantial portion of the international marketplace.

Global Geomarketing Market - By Vertical:

• On-Premises          

• Cloud         

The market includes retailers and consumer goods, travel and hospitality, banking, financial services and insurance (BFSI), health care, media and entertainment, and telecommunications. In the vertical segment, retail and e-commerce are likely to maintain the largest size of the global marketing market.

Global Geomarketing Market - By Region:

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

The global geomarketing market is segmented by region into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. Of these, North America recorded a substantial portion of the market. This growth is mainly due to the increasing adoption of technology in the educational sector. The United States and Canada are the main contributors to the growth of the region, as both countries are witnessing the strong adoption of technology in the region.

Additionally, factors such as continued technological advancements, increased financial support from governments, and rising standards in the geomarketing industry are benefiting the growth of the global geomarketing market. The region is also experiencing the entry of new players and a large number of new companies in the market. In addition, the strong presence of key players in the region is focused on analytics, and clients have easy access to various points of contact.

KEY MARKET PARTICIPANTS:

The major companies operating the global geomarketing market include Google (United States), Microsoft (United States), IBM (United States), Cisco (United States), Oracle (United States), Adobe (United States), Salesforce (United States), ESRI (United States), Software Ag (Germany), Ericsson (Sweden), Qualcomm (United States), Xtremepush (Ireland), Plot Projects (Netherlands), Rover (Canada), Mobile Bridge (Netherlands), Hyper (United States), Reveal Mobile (United States ), Galigeo (Europe), Navigine (United States), Clevertap (United States), Urban Airship (United States), Bluedot Innovation (United States), Merkle (United States), Foursquare (United States) and LocationGuru (India) are the main players in the geomarketing market. They offer various solutions to meet the demands and needs of the market. The main growth strategies adopted by these actors are partnerships, collaborations, and agreements, as well as the launch of new products or product improvements.

RECENT HAPPENINGS IN THE MARKET:

• In 2019, Tinsa completed the purchase of DataCentric, a leading company in the field of geomarketing, big data and digital decision support solutions based in Spain. The agreement strengthens Tinsa's innovation and digital profile with the integration of DataCentric technology.

• In 2019, CostaNext announced the introduction of a new geomarketing service, the Costa Crociere service model. It will be available for distribution, which is renewed and offers a personalized formula. The introduction of new products promotes the growth of the global geomarketing market.