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Geofencing Market to Expand With 30.0% CAGR due to Rising Adoption of the Live Tracking Systems, Says TMR

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News provided by

Transparency Market Research

Mar 06, 2019, 07:00 ET

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ALBANY, New York, March 6, 2019 /PRNewswire/ -- Transparency Market Research (TMR) observes that the global geofencing market has a highly competitive vendor landscape. Key players such as Apple Inc., Swirl Networks, Inc., Simpli.Fi, Mobinius Technologies Pvt. Ltd., Simpli.Fi, and Bluedot Innovation are operating in the global geofencing market. Along with product development, these players are adopting other aggressive marketing strategies including offering advancements such as geo-conquesting.

According to the report by Transparency Market Research, the geofencing market is projected to reach a value of US$2 bn by the end of 2022. The market is likely to expand with a stellar CAGR of 30.0% over the forecast period from 2017 and 2022.

Request a Sample of Report https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=33449 

Based on the network, the global geofencing market is dominated by the cellular network segment and is expected to remain dominant through 2022 and account for a revenue of US$1.5 bn by 2022. Based on the region, North America accounted for leading share due to the rapid adoption of advanced technologies in transportation and logistics in the same year.

Widening Applications of Geofencing to Reflect Positively on Market Growth

The geofencing market is gaining attention owing to the growing demand for geofencing across numerous end-use applications including transportation and logistics. Additionally, adoption of the geofencing offers advancements such as live tracking of fleet along with freight management operations, which improves services of the transportation and logistics sector. Thanks to these features, the geofencing is witnessing higher demand, which is likely to propel the growth of the global geofencing market.

Additionally, numerous services such as cab and food delivery are adopting these technologies and services for improving reliability on their services. The cab services such as Uber and Ola are using these technologies for finding the nearest cabs and other transportation means. This is again reflecting positively on the growth of the global geofencing market.

Get PDF Brochure for Research Insights at: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=33449

Furthermore, geofencing has applications across healthcare, defense, and aerospace. Especially, large companies are using geofencing for sending coupons to their user based on the location of their consumers and shops. This is fuelling growth of the global geofencing market. Additionally, small and mid-sized retailers are using push notifications and SMSs by targeting their audience. These also help to improve their loyalty and push materialized sales, which in turn drives the growth of the geofencing market.

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Growing Adoption of Advanced Technologies to Boost Market

Moreover, nursing homes are using the technology for tracking patients while their medical checkups. This growing adoption for a range of applications is augmenting growth of the global geofencing market. However, the factors including technological concerns on devising monitoring, lack of proper battery support, and non-existence of preceding caution services are restraining growth of the geofencing market to some extent. Nonetheless, growing applications of geofencing across the sectors including human resources, child location service, and telematics are projected to offer lucrative opportunities for spurring growth of the market in the upcoming period. Additionally, rising demand for IoT-based technologies is projected to create several new opportunities for new development over the forecast period.

This information is encompassed in the report by TMR, titled, "Geofencing Market (Network - Cellular and Unlicensed Low Power Technology; End-use Industry - Transportation, Retail, Healthcare & Life-sciences, Aerospace & Defense, and Others; Component - Software Application, RFID Tag, and Smart Sensors) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2022."

Browse Research Release at https://www.transparencymarketresearch.com/geofencing-market.html

For the study, the geofencing market has been segmented as follows:

Components

  • Software Application
  • RFID Tag
  • Smart Sensors

Network

  • Cellular
  • Unlicensed Low Power Technology

End-use Sectors

  • Transportation and Logistics
  • Retail
  • Healthcare & Life Sciences
  • Aerospace & Defense
  • Others

Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Australia
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of Middle East & Africa

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  • Structured Cabling Market:  https://www.transparencymarketresearch.com/structured-cabling-market.html 
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About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: https://www.transparencymarketresearch.com 
Research Blog: https://factmrblog.com/

SOURCE Transparency Market Research

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