The geomarketing market size is projected to grow from USD 10.7 billion in 2020 to USD 32.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 25.0%
NEW YORK, Sept. 1, 2020 /PRNewswire/ -- Rise in demand for cloud services, rise in internet penetration, advanced technology for location based software to modernize legacy systems, better customer experience, driving the geomarketing deployment all over the globe
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The geomarketing market size is projected to grow from USD 10.7 billion in 2020 to USD 32.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 25.0% during the forecast period.Increasing need to adopt cloud sevrices, for their scalability and flexibility, demand for modernizing legacy systems and applications, rise in remote work scenario, and better customer experience by applications is expected to drive demand for geomarketing. Every business user owns a website to serve, communicate, and interact with its end-users. In the world of the digital era, enterprises are catering to a global audience, physically dispersed over the globe. The website is one of the basic communication channels for customers to engage with enterprises. 24*7 availability of the website is therefore important for enterprises to meet the increasing demand for tech-savvy customers. Geomarketing market seems to be lucrative in the coming years with ubiquity in internet usage and scalability provided by cloud native applications
Cloud deployment mode to grow at a higher CAGR during the forecast period
Cloud deployment mode is used deploying geomarketing applications and software.It is becoming a growing practice for organizations to choose cloud based services for geomarketing and location based analytics. With the flexibility provided by these services, more organizations are choosing geomarketing solutions based on cloud hence, it is expected to grow faster during coming 5 years.
SMEs segment to grow at the highest CAGR during the forecast period
SMEs are expected to adopt geomarketing toenhance agility and boost the development of modern marketing strategies in the SMEs segment. SMEs face a greater resource crunch than large enterprises and require advanced methods to adopt geomarketingwhich is also expected to drive the growth of the overall geomarketing market.
Asia Pacific (APAC) region to record the highest market share in thegeomarketingmarket in 2020
APAC is an emerging region for the geomarketing market.Australia and New Zealand, China, Japan, Singapore, and India are the major countries contributing to the growth of the geomarketing market in APAC.
Due to rise ininternet and smart phone users, adoption of cloud services, IT services start-up ecosystem, enterprises in this region are becoming more competitive, and are focusing on offering better customer experience services to industries. Thus, the untapped potential of the APAC region is attracting investments by major companies. Most organizations are focusing on expanding their business operations in countries across the APAC region, which is expected to increase demand for geomarketing
• By Company Type: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 26%
• By Designation: C-level – 55%, Directors – 40%, and Others – 5%
• By Region: North America – 38%,Europe– 40%, APAC– 21%,and Rest of the World (RoW)– 1%
This research study outlines the market potential, market dynamics, and major vendors operating in the geomarketing market. Key and innovative vendors in the geomarketing market include IBM (US), Google (US), Microsoft (US), Cisco. (US), Oracle (US), Adobe (US),Salesforce (US), Ericsson (Sweden), ESRI (US), Qualcomm (US), HERE (US), Xtremepush (Dublin), Software AG (Germany), Plot Projects (Netherlands), MobileBridge (Noor Holland), Saksoft (India), HYP3R (US), Reveal Mobile (US), Galigeo (France), Navigine (US), CleverTap (US), Airship (US), Bluedot Innovation (US), Rover (US), LocationGuru (India), Foursquare (US), Brillio(US), Purple Wifi (UK), GeoMoby (Australia), Carto (US), and Quuppa (Finland).These vendors have adopted many organic as well as inorganic growth strategies, such as new product launches, and partnerships and collaborations, to expand their offerings and market shares in the geomarketing market.
Research coverage
The market studycoversthe geomarketingmarket across different segments.It aims at estimating the market size and the growth potential of this market across different segmentsbased oncomponent, location, organization size, deployment mode, vertical, and region.
The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall geomarketingmarket and its segments.This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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