Geofencing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Geo Fencing Market
The Geo Fencing Market Size was valued at USD 2.20 billion in 2023, and the Market is now projected to grow from USD 2.65 billion in 2024 to USD 12.23 billion by 2032, exhibiting a CAGR of 21.0% during the forecast period of 2024-2032.
This is because the advancement of e-commerce and the need to deliver products especially during the COVID-19 outbreak has boosted the growth of the geofencing market. This was because as more consumers shifted their focus towards e-commerce, firms employed geofencing in delivery to ensure that customers received their orders on time and hence increase satisfaction. This particular technology made it possible to monitor the delivery and control the supply chain during the delivery process and provided timely information and enhanced the process, impeding the rise of Geo Fencing Market Growth.
The demand for Geo Fencing has risen due to the Rising adoption of mobile devices for consumer engagement, resulting in the expansion of Geo Fencing Market share globally. This could be the reason as most of people are using phones or any other device that can show that one is active at least once in a while. This in turn can enable the firms to be able to reach the consumers in the right place and at the right time. As a result, one can state that the most known and popular devices of the present day are smartphones and this is quite reasonable, as these gadgets are an essential part of people’s lives and communications with others.
Additionally, Lastly, there is geofencing where it is possible to draw a fence that will alert consumers through messages and offers on their mobile devices within the business region or a specific region like a shopping center. This mean that they are able to give the right information at the right time to the consumer and they have higher opportunity of buying a product.
Comprehensive Analysis of Geo Fencing Market
The Geo Fencing Market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the Information & Communication Technology Industry. These Segmentations are methodically segregated by Geofencing type, Technology, Enterprise type and by End-User. The Geofencing type includes Fixed and Mobile. The Technology includes Active and Passive. The Enterprise type includes Large enterprises and Small and Medium Enterprises (SMEs). However, the End-User includes Retail and Consumer Goods, Government and Defense, Healthcare, Transportation and Logistics, Automotive and others (BFSI, Travel and Hospitality).
The North American region leads the Geo-Fencing Market by benefitting a market size of USD 0.79 billion in 2023 due to significant investments and collaborations. The market demand for spatial data integration and real-time location technology in the region has increased.
The top players in the market play a crucial role in the Information & Communication Technology Industry assuring industrial prospectus growth and setting market standards. These players include Bluedot (US), Radar Labs Inc., (US), Infilion (US), Esri (US), Eskimi (Lithuania), Thumbvista (US), Simpli.fi (US), Mapsted Corp. (Canada), Location smart (US), Geomoby (Australia). These market players provide a level playing competitive landscape.
In January 2024, Simpli. fi announced that he has entered into a partnership with Intent IQ, an identity resolution company, to provide a new solution called Cookieless Audience Extension to customers. This new integration improves Simpli. It allows advertisers to leverage fi’s suite of cookieless solutions and thus, address a broad audience.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 21.0% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Geofencing Type
Fixed
Mobile
By Technology
Active
Passive
By Enterprise Type
Large Enterprises
Small & Medium Enterprises (SMEs)
By End-User
Retail and Consumer Goods
Government and Defense
Healthcare
Transportation and Logistics
Automotive
Others (BFSI, Travel, and Hospitality)
By Region
North America (By Geofencing Type, Technology, Enterprise Type, End-User, and Country)
- U.S. (By End-User)
- Canada (By End-User)
- Mexico (By End-User)
South America (By Geofencing Type, Technology, Enterprise Type, End-User, and Country)
- Brazil (By End-User)
- Argentina (By End-User)
- Rest of South America
Europe (By Geofencing Type, Technology, Enterprise Type, End-User, and Country)
- U.K. (By End-User)
- Germany (By End-User)
- France (By End-User)
- Italy (By End-User)
- Spain (By End-User)
- Russia (By End-User)
- Benelux (By End-User)
- Nordics (By End-User)
- Rest of Europe
Middle East & Africa (By Geofencing Type, Technology, Enterprise Type, End-User, and Country)
- Turkey (By End-User)
- Israel (By End-User)
- GCC (By End-User)
- North Africa (By End-User)
- South Africa (By End-User)
- Rest of the Middle East & Africa
Asia Pacific (By Geofencing Type, Technology, Enterprise Type, End-User, and Country)
- China (By End-User)
- Japan (By End-User)
- India (By End-User)
- South Korea (By End-User)
- ASEAN (By End-User)
- Oceania (By End-User)
- Rest of Asia Pacific
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Geofencing Key Players Market Share/Ranking, 2023
- 5. Global Geofencing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Geofencing Type (USD)
- 5.2.1. Fixed
- 5.2.2. Mobile
- 5.3. By Technology (USD)
- 5.3.1. Active
- 5.3.2. Passive
- 5.4. By Enterprise Type (USD)
- 5.4.1. Large Enterprises
- 5.4.2. Small & Medium Enterprises (SMEs)
- 5.5. By End-Users (USD)
- 5.5.1. Retail and Consumer Goods
- 5.5.2. Government and Defense
- 5.5.3. Healthcare
- 5.5.4. Transportation and Logistics
- 5.5.5. Automotive
- 5.5.6. Others (BFSI, Travel and Hospitality, etc.)
- 5.6. By Region (USD)
- 5.6.1. North America
- 5.6.2. South America
- 5.6.3. Europe
- 5.6.4. Middle East & Africa
- 5.6.5. Asia Pacific
- 6. North America Geofencing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Geofencing Type (USD)
- 6.2.1. Fixed
- 6.2.2. Mobile
- 6.3. By Technology (USD)
- 6.3.1. Active
- 6.3.2. Passive
- 6.4. By Enterprise Type (USD)
- 6.4.1. Large Enterprises
- 6.4.2. Small & Medium Enterprises (SMEs)
- 6.5. By End-Users (USD)
- 6.5.1. Retail and Consumer Goods
- 6.5.2. Government and Defense
- 6.5.3. Healthcare
- 6.5.4. Transportation and Logistics
- 6.5.5. Automotive
- 6.5.6. Others (BFSI, Travel and Hospitality, etc.)
- 6.6. By Country (USD)
- 6.6.1. U.S.
- 6.6.1.1. By End-Users
- 6.6.2. Canada
- 6.6.2.1. By End-Users
- 6.6.3. Mexico
- 6.6.3.1. By End-Users
- 7. South America Geofencing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Geofencing Type (USD)
- 7.2.1. Fixed
- 7.2.2. Mobile
- 7.3. By Technology (USD)
- 7.3.1. Active
- 7.3.2. Passive
- 7.4. By Enterprise Type (USD)
- 7.4.1. Large Enterprises
- 7.4.2. Small & Medium Enterprises (SMEs)
- 7.5. By End-Users (USD)
- 7.5.1. Retail and Consumer Goods
- 7.5.2. Government and Defense
- 7.5.3. Healthcare
- 7.5.4. Transportation and Logistics
- 7.5.5. Automotive
- 7.5.6. Others (BFSI, Travel and Hospitality, etc.)
- 7.6. By Country (USD)
- 7.6.1. Brazil
- 7.6.1.1. By End-Users
- 7.6.2. Argentina
- 7.6.2.1. By End-Users
- 7.6.3. Rest of South America
- 8. Europe Geofencing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Geofencing Type (USD)
- 8.2.1. Fixed
- 8.2.2. Mobile
- 8.3. By Technology (USD)
- 8.3.1. Active
- 8.3.2. Passive
- 8.4. By Enterprise Type (USD)
- 8.4.1. Large Enterprises
- 8.4.2. Small & Medium Enterprises (SMEs)
- 8.5. By End-Users (USD)
- 8.5.1. Retail and Consumer Goods
- 8.5.2. Government and Defense
- 8.5.3. Healthcare
- 8.5.4. Transportation and Logistics
- 8.5.5. Automotive
- 8.5.6. Others (BFSI, Travel and Hospitality, etc.)
- 8.6. By Country (USD)
- 8.6.1. U.K.
- 8.6.1.1. By End-Users
- 8.6.2. Germany
- 8.6.2.1. By End-Users
- 8.6.3. France
- 8.6.3.1. By End-Users
- 8.6.4. Italy
- 8.6.4.1. By End-Users
- 8.6.5. Spain
- 8.6.5.1. By End-Users
- 8.6.6. Russia
- 8.6.6.1. By End-Users
- 8.6.7. Benelux
- 8.6.7.1. By End-Users
- 8.6.8. Nordics
- 8.6.8.1. By End-Users
- 8.6.9. Rest of Europe
- 9. Middle East & Africa Geofencing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Geofencing Type (USD)
- 9.2.1. Fixed
- 9.2.2. Mobile
- 9.3. By Technology (USD)
- 9.3.1. Active
- 9.3.2. Passive
- 9.4. By Enterprise Type (USD)
- 9.4.1. Large Enterprises
- 9.4.2. Small & Medium Enterprises (SMEs)
- 9.5. By End-Users (USD)
- 9.5.1. Retail and Consumer Goods
- 9.5.2. Government and Defense
- 9.5.3. Healthcare
- 9.5.4. Transportation and Logistics
- 9.5.5. Automotive
- 9.5.6. Others (BFSI, Travel and Hospitality, etc.)
- 9.6. By Country (USD)
- 9.6.1. Turkey
- 9.6.1.1. By End-Users
- 9.6.2. Israel
- 9.6.2.1. By End-Users
- 9.6.3. GCC
- 9.6.3.1. By End-Users
- 9.6.4. North Africa
- 9.6.4.1. By End-Users
- 9.6.5. South Africa
- 9.6.5.1. By End-Users
- 9.6.6. Rest of Middle East & Africa
- 10. Asia Pacific Geofencing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Geofencing Type (USD)
- 10.2.1. Fixed
- 10.2.2. Mobile
- 10.3. By Technology (USD)
- 10.3.1. Active
- 10.3.2. Passive
- 10.4. By Enterprise Type (USD)
- 10.4.1. Large Enterprises
- 10.4.2. Small & Medium Enterprises (SMEs)
- 10.5. By End-Users (USD)
- 10.5.1. Retail and Consumer Goods
- 10.5.2. Government and Defense
- 10.5.3. Healthcare
- 10.5.4. Transportation and Logistics
- 10.5.5. Automotive
- 10.5.6. Others (BFSI, Travel and Hospitality, etc.)
- 10.6. By Country (USD)
- 10.6.1. China
- 10.6.1.1. By End-Users
- 10.6.2. Japan
- 10.6.2.1. By End-Users
- 10.6.3. India
- 10.6.3.1. By End-Users
- 10.6.4. South Korea
- 10.6.4.1. By End-Users
- 10.6.5. ASEAN
- 10.6.5.1. By End-Users
- 10.6.6. Oceania
- 10.6.6.1. By End-Users
- 10.6.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Bluedot
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Radar Labs, Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Infillion
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Esri
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Eskimi
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Thumbvista
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Simpli.fi
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Mapsted Corp.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. LocationSmart
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. GeoMoby
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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