Global Geofencing Market is Projected to Register a Healthy CAGR of 27.01%

Posted by nileshdbmr on December 27th, 2019

Global Geofencing Market is expected to reach USD 3,965.24 million by 2025 from USD 582.2 million in 2017 and is projected to grow at a CAGR of 27.01% in the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Key Players: Global Geofencing Market

The renowned players in geofencing market are Apple, inc., Thumbvista, pulsate, Holdings inc., ESRI, Bluedot Innovation, Geomoby, Gpswox, ltd., Localytics, SWIRL Networks inc., Bluedot Innovation Pty Ltd, Gimbal Inc., Google LLC, IBM Corporation, Microsoft Corporation, Radar Labs Inc., Samsung Electronics Co., Verve Inc., Mapcite, Pulsate, Mobinius Technologies, and many more.       

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Geofencing is a virtual surrounding created around the lands boundary. It consists of data software programs which are collected from the GPS (Global Positioning Systems). It includes the location details as per geographic parameters.  The essential factor in charge of the expanding prevalence of the geofencing is that it permits an overseer who has set up the geofencing to set up the triggers for occasions. These triggers are set by the head for the occasions, for example, section or exit of the gadgets inside the chose limits by the overseer.

Competitive Analysis: Global Geofencing Market

The global circuit breaker market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of geofencing market for global, Europe, North America, Asia Pacific and South America.

Market Segmentation: Global Geofencing Market

The market is based on component, service, geofencing type, organization size, vertical and geographical segments.

  • Based on component, the market is segmented into solution and services.
  • Based on service, the market is segmented into deployment and integration services, support and maintenance services, consulting and advisory services, API management and testing services.
  • Based on geofencing type, the market is segmented into fixed geofencing, mobile geofencing.
  • Based on organization size, the market is segmented into small and medium-sized enterprises, large enterprise.
  • Based on vertical, the market is segmented into transportation and logistics, retail, healthcare and life sciences, industrial manufacturing, media and entertainment and other.
  • Based on geography, the market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.

Market Drivers and Restraints:

  • Technological advancements and rise in the use of spatial data and analytical tools
  • Increasing applications in numerous industry sectors
  • Rising adoption of location-based application among consumers
  • Increasing awareness regarding safety and security among consumers

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Joined: September 27th, 2019
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