Absolute Markets Insights offers its latest published report Geofencing Market by Service (Deployment and Integration Services, Support and Maintenance Services, Consulting and Advisory Services, API Management and Testing Services); by Type (Fixed Geofencing, Mobile Geofencing); by Vertical (BFSI {Banking, Financial Services, and Insurance}, Healthcare, Retail and Hospitality, Industrial Manufacturing, Media & Entertainment, Transportation and Logistics, Government and Defense, Others {IT & Telecom, Human Resources, Audience Engagement, Telematics, etc.}); by Regional Outlook (U.S., Rest of North America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Japan, India, Southeast Asia, Rest of Asia Pacific, GCC Countries, Southern Africa, Rest of MEA, Brazil, Rest of Latin America) – Global Insights, Industry Trends, Price Trends, Growth, Size, Supply, Demand, Comparative Analysis, Competitive Market Share and Forecast, 2018-2026’. The author of the report analyzed that the Global Geofencing Market accounted for US$ 538.02 Mn in 2017. The prime factor responsible for the growth of the Geofencing market is increasing technological advancements in maintaining the security and safety majors for the organizations and also part of the geographies. Also, the constant technological advancements going on in the cloud computing applications, global navigation satellite system (GNSS), and the wireless technologies which are supporting the location-based services (LBS), global positioning system (GPS), are contributing significantly in driving the demand for the geofencing market.

Purchase the complete report titled “Geofencing Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018-2026” at (https://www.absolutemarketsinsights.com/reports/Geofencing-Market-2018-2026-141).

The number of smart phone users has been increased rapidly. Due to high disposable income and increasing incline towards technology has fueled the growth of Smartphone market. Mobile app developers offer free downloading of apps which is the part of geofencing advertising. The free apps allow an access to location of mobile user in specific area. Therefore, geofencing is widely adopted as an ideal tactic for local advertising.

Concerns related to devising monitoring, battery draining issues, and lack of preceding caution services are somewhere limiting the growth of the market. Similarly, missing features such as monitoring ability of geofence in low coverage areas has forced the customers to move their focus towards authorized marketing, which is considered as a restraining factor for the growth of the geofencing market.

The manufacturing companies are focusing on optimization and sustainable supply chain management in order to build strong market position. The real-time location tracking of the materials and movements of the materials in the industry offers the most needed control over the process flow in the in the industry. Therefore, increasing investment in technology by manufacturing industry to track the inventory movement, processed and semi-processed materials in real-time to reduce the wastage and shortage of resources offers growth opportunity for the global geofencing market in forecast period.

The Transportation and Logistics Segment Holds Major Dominance in the Aforementioned Market in 2017

Transportation and logistics segment hold a dominant share in the geofencing market on account of large-scale implementation managing large fleets across different geographic areas. With the use of geofencing, event-based triggers can be incorporated in the supply chain processes. Such triggers can be used to inform the forward supply chain for processing incoming shipments. Due to the associated benefits such as real-time coordination, higher security, and improved planning of carrier movement and deliveries, the systems are being increasingly adopted by the transportation and logistics industry.

Asia Pacific Represents the Fastest Growing Region in the Geofencing Market During the Forecast Period from 2018 - 2026

Asia Pacific, on the other hand, is expected to witness fast growth over the timeline due to increasing awareness regarding the advantages of location-based services to increase the efficiency of fleet management systems and marketing campaigns. Japan are estimated to grow with the highest pace owing to the increased investments from governments in the improvising the defense sector and other manufacturing industry. Moreover, Singapore has directed all bike-sharing service providers in the city state to modify mobile apps and adopt “geofencing”, as it is designed to address the problem of illegally parked and misplaced bicycles in recently in 2018.

Geofencing Market is Consolidated as Multiple Large Organizations are Investing for Technological Innovations such as Business Intelligence Enabled Tools

 Market Participants include Apple Inc., Bluedot Innovation, DreamOrbit, Embitel, Esri, Factual, GeoMoby, GPSWOX, Nisos Technologies, Localytics, LocationSmart, MAPCITE Maven Syst, Mobinius Technologies, IBM, Pitney Bowes Inc., Plot Projects, Pulsate, Radar Labs, Inc., Raveon Technologies, Simpli.fi, SuccorfishM2M, Swirl Networks, Thumbvista, Urban Airship, Visioglobe, amongst Others. For instance, In January 2018 - Bluedot Innovation has launched Bluedot location marketing on the Salesforce AppExchange. This has empowered businesses to connect with their customers, partners, and employees in entirely new ways. Bluedot location marketing offers accurate location services and geofencing, which, empowers brands to harness the power of location, to build personalized journeys.

Geofencing Market - By Services

• Deployment and Integration Services
• Support and Maintenance Services
• Consulting and Advisory Services
• API Management and Testing Services

Geofencing Market - By Type

• Fixed Geofencing
• Mobile Geofencing

Geofencing Market - By Vertical

• BFSI (Banking, Financial Services, and Insurance)
• Healthcare
• Retail and Hospitality
• Industrial Manufacturing
• Media & Entertainment
• Transportation and Logistics
• Government and Defense
• Others (IT & Telecom, Human Resources, Audience engagement, Telematics, Etc.) 

Geofencing Market - By Region

• North America
  • U.S.
  • Rest of North America
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific
• Middle East and Africa
  • GCC Countries
  • Southern Africa
  • Rest of Middle East and Africa
• Latin America
  • Brazil
  • Rest of Latin America