Geofencing Market - Global Forecast to 2022 - Rise in the Use of Spatial Data & Analytical Tools

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Dec 11, 2017, 12:00 ET

DUBLIN, Dec. 11, 2017 /PRNewswire/ --

The "Geofencing Market by Component (Solution and Services), Geofencing Type (Fixed and Mobile), Organization Size, Vertical (Transportation & Logistics, Government & Defense, Retail, Healthcare & Life Sciences), and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.

The global geofencing market size is forecast to grow from USD 542.7 Million in 2017 to USD 1,825.3 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 27.5%.

The geofencing market is segmented on the basis of components (solution and services), geofencing type, organization size, verticals, and regions. Geofencing services are further segmented into deployment and integration, support and maintenance, consulting and advisory, and API management and testing services.

The API management and testing services segment is expected to grow at the highest CAGR during the forecast period, as the segment offers application access management, device data communication and interaction, and security services. Additionally, application operation, production support, release and change support, and middleware product support are also carried out by API management services. Application testing service providers offer automated and manual mobile application testing to the commercial customers, for testing both native and hybrid mobile applications. The service providers deliver mobile application testing services for core functionality testing; user interface testing; mobile applications testing in wireless disconnectivity, low connectivity, Wi-Fi, and 2G and 3G networks; memory and battery leakage testing; and mobile application backward compatibility testing.

On the basis of organization size, the geofencing market is segmented into Small and Medium-sized Enterprises (SMEs) and large enterprises. The geofencing market, on the basis of verticals, is segmented into transportation and logistics; retail; healthcare and life sciences; industrial manufacturing; media and entertainment; government and defense; Banking, Financial Services, and Insurance (BFSI); and others (agriculture, education, construction and engineering, and energy and utilities).

The transportation and logistics vertical is expected to have the largest market share during the forecast period. Transportation and logistics is one of the most dominating verticals with respect to the deployment of geofencing solutions. Industry applications of geofencing solutions in the transportation and logistics vertical include asset monitoring, speed limiting, fleet and freight management, and commercial transportation management.

The major factors driving the growth of the geofencing market are the penetration of new technologies, rise in the use of spatial data and analytical tools, higher adoption of location-based applications among consumers, and the growth of competitive intelligence. Furthermore, the rise in Business Intelligence (BI) and the need to track the competitors' marketing activities are some of the other factors supporting the overall growth of the geofencing market.

Companies Mentioned:

Apple
Bluedot Innovation
Esri
Geomoby
Gpswox
Localytics
Mapcite
Mobinius Technologies
Pulsate
Simpli.Fi
Swirl Networks
Thumbvista

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview And Industry Trends

6 Geofencing Market Analysis, By Component

7 Geofencing Market Analysis, By Service

8 Geofencing Market Analysis, By Geofencing Type

9 Geofencing Market Analysis, By Organization Size

10 Geofencing Market Analysis, By Vertical

11 Geographic Analysis

12 Company Profiles

13 Appendix

For more information about this report visit https://www.researchandmarkets.com/research/ccpktj/geofencing_market

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SOURCE Research and Markets