The major factor driving the market growth of the global geofencing industry is the rising demand and among various consumers and industries.
PORTLAND, PORTLAND, OR, UNITED STATE, April 5, 2022 /
EINPresswire.com/ -- The rise in demand for location-based services (LBS) and growth in mobile device penetration are the key factors that drive the growth of the market. In addition, applications such as telematics, human resources, and child location services fuel the growth of the
geofencing market.
However, privacy and data security concerns associated with geofencing services can hamper growth of the market. Furthermore, surge in the use of internet of things (IoT) and wide adoption of geofencing solutions among various industry verticals, owing to its vast benefits is expected to provide lucrative opportunities for the market.
Download Sample Report at:
https://www.alliedmarketresearch.com/request-sample/8184
Retailers are adopting digitalization to gain a more loyal customer base as digitalization enables them to engage more effectively and remotely with their customers. Retailers observe the footfall of customers as soon as they enter a geofenced location and send promotional offers with the help of these solutions and encourage them to come to the store and buy products.
Retailers are also deploying geofenced services in delivering products to customers. For instance, Walmart started delivering products in a safe box using drones rather than on doorsteps. The application includes the use of blockchain technology and geofencing for package tracking and identification.
North America is expected to have the largest market share during the forecast period, owing to its early adoption of the latest technologies along with the presence of big players dealing in geofencing solutions. In addition, Asia-Pacific is also expected to witness significant growth, owing to the growth in population, rise in use of smartphones, and investments by governments in the defense sector in developing countries such as India.
Major players include Apple, Bluedot Innovation, ESRI, Gpswox, Geomoby, Mobinius Technologies, Mapcite, Simpli.Fi, Pulsate, Swirl Networks, Thumbvista, and Localytics.
COVID-19 scenario Analysis:
• Geofencing services are used across the globe to locate quarantine violators who are under watch. For Instance, the government of India tested an application that triggers SMS alerts to an authorized government agency if a person violates or escapes a quarantine center based on mobile phone’s cell tower location, which help government to locate a person and stop further spread of COVID19.
• As a result, it is expected that geofencing services would witness a high demand during and post the COVID-19 pandemic.
For Purchase Enquiry:
https://www.alliedmarketresearch.com/purchase-enquiry/8184
Thanks for reading this article; you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Similar Reports:
1.
GPS Positioning Watches Market
2.
Location Based Services Market
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.
David Correa
Allied Analytics LLP
800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn