Global Geofencing Market 2019-2023

Global Geofencing Market 2019-2023

About this market

Geofencing advertising and marketing solutions are used by various enterprises and business organizations for location-based marketing. It is also known as proximity marketing and is emerging as a key strategy for marketers. With the help of location-based marketing, marketers are connecting with consumers through the location of their mobile devices. With location-based marketing, enterprises are sending customized push notifications and personalized commercial messages based on various factors such as prior purchase history, preferences, geographic location of consumer, and time of the day. With an increasing focus toward location accuracy, which is a key technical requirement, enterprises are adopting targeted advertising using advanced technologies such as RFID, beacon, and Wi-Fi. Technavio’s analysts have predicted that the geofencing market will register a CAGR of over 26% by 2023.

Market Overview

Increase in demand for indoor navigation services

Being more accurate than GPS, enterprise indoor location-based services can enable airport apps to guide passengers around the terminal. This can help passengers find restrooms and boarding gate, thereby enhancing the passenger experience. Various companies provide indoor navigation services.

High initial setup costs and capital investment

Geofencing services are evolving and constantly changing. The adoption and implementation of location-based solutions like geofencing are expensive and time-consuming. Thus, the deployment of such solutions requires extensive planning to mitigate these cost risks, which, in turn, might pose a challenge to vendors during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the geofencing market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be moderately fragmented and with the presence of several vendors. The increase in location- based marketing had driven the market growth during our forecast period. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.


Technavio Announces the Publication of its Research Report – Global Geofencing Market 2019-2023

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growing applications of geofencing.”

According to the report, one of the major drivers for this market is the rising need for assets tracking.

Further, the report states that one of the major factors hindering the growth of this market is the rising privacy and security concerns among customers.

Companies Mentioned

Apple Inc.

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global information technology (IT) services market
      • Table Segments of global information technology (IT) services market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by product
    • Table Product - Market share 2018-2023 (%)
    • Comparison by product
      • Table Comparison by product
    • Fixed - Market size and forecast 2018-2023
      • Table Fixed - Market size and forecast 2018-2023 ($ millions)
      • Table Fixed - Year-over-year growth 2019-2023 (%)
    • Mobile - Market size and forecast 2018-2023
      • Table Mobile - Market size and forecast 2018-2023 ($ millions)
      • Table Mobile - Year-over-year growth 2019-2023 (%)
    • Market opportunity by product
      • Table Market opportunity by product
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ millions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ millions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Growing applications of geofencing
    • Increased use of analytics
    • Increased availability of geofencing API
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Apple Inc.
      • Table Apple Inc. - Vendor overview
      • Table Apple Inc. - Business segments
      • Table Apple Inc. - Organizational developments
      • Table Apple Inc. - Segment focus
      • Table Apple Inc. - Key offerings
    • Esri
      • Table Esri - Vendor overview
      • Table Esri - Product segments
      • Table Esri - Organizational developments
      • Table Esri - Key offerings
    • Localytics
      • Table Localytics - Vendor overview
      • Table Localytics - Service segments
      • Table Localytics - Organizational developments
      • Table Localytics - Key offerings
      • Table - Vendor overview
      • Table - Product segments
      • Table - Key offerings
    • Thumbvista
      • Table Thumbvista - Vendor overview
      • Table Thumbvista - Service segments
      • Table Thumbvista - Organizational developments
      • Table Thumbvista - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
  • Explore Technavio

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