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 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.
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The New Geofencing market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025. The renowned players in geofencing market are
- Apple, inc.
- fi Holdings inc.
- Bluedot Innovation
- Gpswox, ltd.
- SWIRL Networks inc.
Others: Gimbal Inc., Google LLC, IBM Corporation, Microsoft Corporation, Radar Labs Inc., Samsung Electronics Co., Verve Inc., Mapcite, Pulsate, Mobinius Technologies, and many more. The report includes market shares of geofencing market for global, Europe, North America, Asia Pacific and South America.
Geofencing consists of data software programs which are collected from the GPS (Global Positioning Systems). It is a virtual surrounding created around the lands boundary. 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. Now a day’s geofencing is getting importance because of various applications such as google earth. It has various applications in pharmaceutical industry, media, retail, entailment and other.
- In 2018, Bluedot Innovation launched launched Bluedot Location Marketing on the Salesforce App Exchange; it will help them to empowered businesses to connect with their customers, partners, and employees in entirely new ways.
- According to ACS Chemical Neuroscience, in 2016, in U.S., global pharmaceutical industry was stated to be USD 446 Billion alone. According to Outlook report, The U.S. media and entertainment industry is USD 735 billion which includes commercials, television program, streaming content, radio, broadcast,and other.
- The industry is expected to reach around USD 830 billion by 2022. Thus above factor proves that media sector and pharmaceutical industry is growing which will derive the demand for market.
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Market Segmentation: Global Geofencing Market
The market is based on
- Geofencing Type
- Organization Size
- Geographical Segments
Based on component, the market is segmented into
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
- 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
- Middle East & Africa
Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil are among others.
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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