Geofencing Market to Surpass US$ 9,500 Mn by 2032: Increasing Adoption of Location-Based Marketing to Boost Industry Growth | Future Market Insights, Inc.

September 23, 2022

During the forecast period, North America is likely to hold a 35.2% share of the market. The European region is likewise expected to see unprecedented growth. During the projection period, the South Asia & Pacific region is estimated to develop at a CAGR of 22.5% during 2022-2032

/EIN News/ -- NEWARK, Del, Sept. 23, 2022 (GLOBE NEWSWIRE) -- During the projection period, the adoption of geofencing is anticipated to grow at a CAGR of 17.8%. It is predicted that the geofencing market is likely to grow from US$ 1,867.2 Mn in 2022 to US$ 9,596.6 Mn in 2032.

The geofencing market share is primarily driven by smartphone usage and demand for geofencing is expanding as it helps with real-time monitoring, which is important for data analysis. Additionally, geofencing uses GPS and RHD technology to deliver reliable data. Additionally, the growing use of analytical and geographical tools is accelerating the expansion of the geofencing market.

FMI anticipates that the demand for geofencing throughout the projected period is anticipated to be fueled by the technology's numerous applications for a number of goals. Geofencing is also becoming more popular as it helps businesses interact with their customers, draw in more foot traffic, and foster stronger customer loyalty. Companies may stay in the spotlight and demonstrate a keen understanding of their consumers' needs by personalizing and adapting their offers based on customer data.

However, one of the key constraints identified for the geofencing market is the high cost of geofencing devices. It also has some restrictions in terms of radius coverage and rigorous maintenance, limiting the use of geofencing. Furthermore, installation costs may severely restrict the growth of the geofencing market throughout the projection period. The geofencing market is expected to expand since it enables businesses to target specific customers by personalizing and disseminating notifications and adverts in real-time.

Request a Report Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15621

Key Takeaways from Geofencing Market Study

“The various applications of geofencing and technologies for a variety of goals are expected to promote geofencing adoption throughout the projection period. However, the high cost of geofencing devices is projected to hamper the market growth.” -FMI Analyst

Report a Customization for any Query @ https://www.futuremarketinsights.com/customization-available/rep-gb-15621

Competitive Landscape

Companies in the geofencing market are working to increase the accuracy and integration functionality of their solutions while also extending their capabilities. These firms are creating solutions for a wide range of client segments for promotion, asset tracking, workforce management, and fleet monitoring applications through aggressive promotion and marketing techniques.

Major firms with great brand recognition, successful competitive strategies, and distribution dominance include IBM, Microsoft, Google, and Samsung. Overall, the geofencing market players are highly competitive.

Google, Apple, Bluedot Innovation, Thumbvista, Esri, Embitel, Simplifi.fi, Gimbal, Mapcite, UpSnap, Placecast, Swirl Networks, GeoMoby, Localytics, Urban Airship, Pulsate, PlotProjects, Radar Labs, and DreamOrbit are a few companies in the geofencing business.

 Latest Developments in the Geofencing Market:

Key Segments Covered in the Geofencing Market Report

By Solution:

By Technology:

By Industry:

By Region:

Request for Methodology @ https://www.futuremarketinsights.com/request-report-methodology/rep-gb-15621

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

    3.2. Scenario Forecast

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

TOC continued...

Top Reports Related To Technology Market Insights

Network Access Control (NAC) Market Size - The network access control (NAC) market revenue totaled ~US$ 1.9 Bn in 2021. The network access control market is expected to reach ~US$ 27.4 Bn by 2032, growing at a CAGR of 27.5% for 2022 – 32.

Dynamic Random Access Memory (DRAM) Market Share - The global Dynamic Random Access Memory (DRAM) market size is expected to reach US$ 10.3 Billion in 2032 and exhibit growth at a CAGR of 5% in the forecast period from 2022 to 2032.

Intrusion Detection System Market Trends - The Global intrusion detection system market is anticipated to grow at moderate CAGR over the forecast period from 2022 to 2032.

Optical Sensor Market Outlook - The global optical sensor market size reached over US$ 19.6 Billion in 2021. However, with increase in demand of optical sensors for wide range of applications, the overall sales are projected to rise at a robust CAGR of around 9.5% from 2022 to 2032.

Geospatial Analytics Market Demand - The geospatial analytics market is expected to total US$ 10.6 Bn in 2022 and is expected to reach US$ 34.5 Bn by 2032, growing at a CAGR of 12.5% over the forecast period.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com