Thegeofencing market is gaining traction, due to the widespread adoption of mobilephones and the increase in internet penetration across various geographies.Penetration of latest technologies, rise in the use of spatial data, increasingapplications in numerous industry verticals, and higher adoption oflocation-based applications among consumers are some of the other factorscontributing to the growth of the overall geofencing market. MarketsandMarketsforecasts the global geofencing market size to grow from USD 542.7 Million in2017 to USD 1,825.3 Million by 2022, at a Compound Annual Growth Rate (CAGR) of27.5%.
DownloadPDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209129830
NorthAmerica is expected to have the largest market share and dominate thegeofencing market during the forecast period. The region has the presence ofmajor sustainable and well-established economies who invest substantially inResearch and Development (R&D) activities, thereby contributing to thedevelopment of new location-based technologies. These technologies complementthe growth of the geofencing market.
The regioncomprises countries such as the US and Canada, which are witnessing thesignificant adoption of geofencing solutions. Growing trends such as Know YourCustomer (KYC), the rise in the use of smartphones, and the increase in the useof social media platforms have resulted in the tremendous growth of technologyadoption in this region. Various government initiatives, such as smart cityprojects and telematics programs, are also favoring the implementation ofgeofencing solutions in this region.
The majorvendors in the geofencing market include Simpli.fi (US), Embitel (India),Thumbvista (US), Pulsate(US), Mobinius Technologies (India), Esri (US), BluedotInnovation (US), GeoMoby (Australia), GPSWOX (UK), Apple (US), Localytics (US),Swirl Networks (US), DreamOrbit (India), Factual (US), InVisage (US),LocationSmart (US), MAPCITE (UK), Maven Systems (India), MobiOcean (India),Nisos Technologies (US), Urban Airship (US), plot projects (Netherlands),Raveon Technologies(US), and SuccorfishM2M (UK).
Apple is another established vendor in thegeofencing market. The company has a strong geographic presence worldwide,including the regions of North America, Asia Pacific (APAC), Middle East andAfrica (MEA), Europe, and Latin America. The company’s business strategyincludes building and expanding its retail and online stores, and third-partydistribution network to effectively reach out to more customers and providethem high-quality sales and post-sales support experience.
Browse complete report @ https://www.marketsandmarkets.com/Market-Reports/geofencing-market-209129830.html
