The Active Geofencing Market size is expected to grow from USD 1.47 billion in 2023 to USD 4.19 billion by 2028, at a CAGR of 23.23% during the forecast period (2023-2028).
The active geofencing market is witnessing growth due to increased use of spatial data, improved real-time location technology, and higher adoption of location-based applications among consumers globally.
The active geofencing Market is moderately fragmented owing to the presence of large vendors like Bluedot Innovation Pty Ltd, Infillion Inc. (GIMBLE), IBM Corporation, Microsoft Corporation, Radar Labs Inc., etc. The key players are involved in various strategies, such as acquisitions and partnerships, to improve their market share and enhance their profitability in the market studied.
In August 2022, Olo, an on-demand restaurant commerce platform, partnered with Radar, a geofencing tool. The improved integration and strategic relationship will provide trip-tracking functionality, which will improve the digital order fulfillment process and off-premise experience for Olo and Radar's major restaurant brands and their customers. Radar uses advanced geofencing technology to automatically transfer orders placed through a restaurant's bespoke app, powered by Olo, to a brand's kitchen when customers are near to arriving, ensuring that the food is available when it is needed.
In August 2022, Asiaray targeted on-the-go audiences by activating Gojek's "GOTOMALLS" campaign on DOOH screens around TEL. Asiaray Media Group, based in Hong Kong, is known for its massive transport advertising media management, which includes airports, metro lines, and high-speed rail lines. The firm recently completed a programmatic DOOH (pDOOH) campaign in collaboration with independent pDOOH ad-tech company Hivestack.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook