The Global Geomarketing Market size is expected to reach $30.6 billion by 2024, rising at a market growth of 28.4% CAGR during the forecast period

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May 14, 2019, 17:55 ET

NEW YORK, May 14, 2019 /PRNewswire/ -- The Global Geomarketing Market size is expected to reach $30.6 billion by 2024, rising at a market growth of 28.4% CAGR during the forecast period. Geomarketing is a tool that uses information based on geographical locations in order to help companies develop marketing strategies and campaigns. Digital mapping allows marketers to analyse data by region or physical position (e.g. a store) to organize and display data. Geomarketing is becoming increasingly cost-effective by the advent of digital technology so that companies of any size can profit. Geomarketing uses geographical information systems (GIS) and geographic context information to search the Internet, mobile research, and social media as part of a digital strategy. Many geomarketing services are compatible with multiple platforms like smartphones, tablets and PCs.

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Based on Component, the market is segmented into Software and Services. Software is further bifurcated into Content Management, Location & Predictive Analytics, Geofencing, and Others. Services is further bifurcated into Integration & Deployment, Advisory & Consulting, and Support & Maintenance. Based on Location, the market is further segmented into Outdoor and Indoor. Based on Deployment Mode, the market is further segmented into On-premise and Cloud. Based on End User, the market is segmented into Retail & Ecommerce, Healthcare & Life Sciences, Media & Entertainment, Telecom & IT, Travel & Hospitality, BFSI, and Others. Retailers can use promotional activities based on the location in several ways such as transmitting local communications to the mobile devices of potential customers who enter the store using a geomarketing solution. Furthermore, when customers arrive near shops, shopkeepers may be notified to keep the items ordered on-line for pick-up. Such promotional activities benefit consumers in reaching to the right location at the right time. Geomarketing campaigns contribute to improving customer experience. Location analysis helps marketers locate and identify the most profitable clients. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Google Inc., IBM Corporation, Cisco Systems Inc., Oracle Corporation, Adobe Systems Inc., Salesforce.com, Inc., Software AG, Clevertap, and Ericsson.

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