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%.
Browse62 Market Data Tables and 38 Figures spread through 145 Pages and in-depth TOCon "GeofencingMarket by Component (Solution and Services),Geofencing Type (Fixed and Mobile), Organization Size, Vertical (Transportation& Logistics, Government & Defense, Retail, Healthcare & LifeSciences), and Region - Global Forecast to 2022"
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Thereare several established players in the geofencing market. Some of these playersare Apple (US), Bluedot Innovation (US), DreamOrbit (India), Embitel (India),Esri (US), Factual (US), GeoMoby (Australia), GPSWOX (US), InVisage (US),Localytics (US), LocationSmart (US), MAPCITE (UK), Maven Systems (India),Mobinius Technologies (India), MobiOcean (India), Nisos Technologies (US), PlotProjects (Netherlands), Pulsate (US), Raveon Technologies (US), Simpli.fi (US),SuccorfishM2M (UK), Swirl Networks (US), Thumbvista (US), Urban Airship (US),and Visioglobe (France). These leading players have adopted various strategies,such as partnerships, collaborations, agreements, mergers and acquisitions, andnew product developments, to achieve growth in the global geofencing market.
Esriis one of the leading players in the geofencing market. The company has adoptedeffective organic and inorganic growth strategies to enhance its marketpresence. It has entered into a significant number of partnerships andstrategic alliances with local and global market players. For instance, in2017, Esri enhanced the World Geocoding Service for its ArcGIS platform. Thisupdate helped users access 25 additional countries, including Cuba, Bangladesh,and Libya, where the street addresses could be located. Similarly, Esrilaunched ArcGIS 10.5, the next-generation analytics technology for innovativeorganizations.
Appleis another established vendor in the geofencing market. The company has astrong geographic presence worldwide, including the regions of North America,Asia Pacific (APAC), Middle East and Africa (MEA), Europe, and Latin America.The company’s business strategy includes building and expanding its retail andonline stores, and third-party distribution network to effectively reach out tomore customers and provide them high-quality sales and post-sales supportexperience.
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