The universal Geofencing report has key information about the industry, market segmentation, important facts and figures, expert opinions, and the latest developments across the globe. This marketing report is a definitive source of information about the industry, important facts and figures, expert opinions, and the latest developments across the globe. This global market report examines the market with respect to general market conditions, market status, market improvement, key developments, cost and profit of the specified market regions, position and comparative pricing between major players. Geofencing market analysis report suggests that the global market is anticipated to witness a relatively higher growth rate during the forecast period.
Data Bridge Market Research analyses that the geofencing market will exhibit a CAGR of 27.40% for the forecast period of 2022-2029. Therefore, the geofencing market value would stand tall by USD 12667.46 million by 2029.
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Market Overview:
From the name itself, it is clear that geofencing is a technology that creates a virtual fencing or a boundary that triggers the software when a mobile device enters that particular area. Geofencing provides the user's current location and establishes a radius of interest. In other words, geofencing allows location identification and monitors activities in secure areas.
Global Geofencing Market Scope and Market Size
The geofencing market is segmented on the basis of component, geofencing type, organization size and vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the geofencing market is segmented into solution and services. Services segment is sub-segmented into deployment and integration services, support and maintenance services, consulting and advisory services, API management and testing service.
- Based on geofencing type, the geofencing market is segmented into fixed and mobile geofencing.
- Based on organization size, the geofencing market is segmented into small and medium-sized enterprises and large enterprises.
- Geofencing market is segmented on the basis of vertical into transportation and logistics, retail, healthcare and life sciences, industrial manufacturing, media and entertainment, government and defense, banking, financial services and insurance and others.
Some of the major players operating in the geofencing market Thumbvista, Simpli.fi, Esri, GeoMoby, Apple, Inc., Pulsate LTD., MAPCITE, Swirl Networks, Bluedot, Mobinius, GPSWOX, Char Software, Inc., DreamOrbit, Embitel., Invisage Creative Services, LocationSmart, Maven Systems Pvt. Ltd., MobiOcean., Nisos Technologies and PlotProjects B.V., among others.
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