The global geofencing market holds some of the major players like Apple, INC. (U.S.), Thumbvista (U.S.), Pulsate (U.S.), Simpli.Fi Holdings Inc. (U.S.), Esri (U.S.), Bluedot Innovation (U.S.), Geomoby (Australia), GPSWOX, Ltd. (U.S.), Localytics (U.S.), Swirl Networks Inc. (U.S.), Mobinius Technologies (India), Mapcite (U.K.), DreamOrbit (India), Factual (U.S.), InVisage (U.S.), LocationSmart (U.S.), Maven Systems (India), MobiOcean (India), Nisos Technologies (U.S.), Urban Airship (US), Plot Projects (Netherlands), Raveon Technologies (U.S.), Visioglobe (France) and SuccorfishM2M (U.K.) among others are profiled in Market Research Future analysis and are at the forefront of competition in the global geofencing market. The prominent vendors and new entrants are investing huge capital in research and development to innovate and expand their present product portfolio.

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Geofencing Global Market - Overview:

Geofencing is a technology that creates a virtual demarcation or boundary by the use of global positioning system, or radio frequency chips. The geofencing helps in creating an alert system with the help of customized software, whenever someone or something enters the virtual boundary. Geofencing has benefitted many enterprises by increasing their interactions with customers, and also maintaining the productivity of the employees. It is used as one of the essential marketing tool.

One of the major growth factor for geofencing market is increasing demand of geofencing solutions across different industries. Many of technological giants like Apple, Bluedot innovations and others are investing huge capital in the development of geofencing market, due to it varied applications in end-users. The other factors that contribute towards the growth of geofencing market is the growing demand of location based services, and rising use of spatial data and analytics tools.

Industry News:

March 2018, Mack Trucks Using Geofencing to Switch from Diesel to Electric. Trucks manufacturing company, Mack is installing an intelligent GPS that alerts the driver on mode of operation. The company is designing the system to let the driver know when to switch between hybrid mode and diesel mode. This helps in reducing fuel consumption and pollution. It is using geofencing and GPS technology to create geographical virtual boundary to exchange mode of operation.

March, 2018 - Lyft an on-demand transportation company has deployed geofencing to limit customer pick-up in San Francisco. This benefits Lyft by moving certain amount of pick-ups to Side Street for reducing congestion on the roads. Lyfts mission is to create safe and vibrant streets by integrating technology and infrastructure which benefits both enterprise and public.

Geofencing Market Size - Segmentation:

On the basis of component, the market is segmented into solution, and services. The services is further sub-segmented into integration & deployment services, support & maintenance service, consulting service.

On the basis of geofencing type, the market is segmented into fixed geofencing and mobile geofencing.

On the basis of organization size, the market is segmented into SME’s and large enterprises.

On the basis of vertical, the market is segmented into BFSI, healthcare, manufacturing, retail, transportation, media & entertainment, government, and others

On the basis of region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Geofencing Global Market - Regional Analysis:

On the basis of region, the market is segmented into North America, Europe, Asia Pacific and rest of the world. Among these regions, North America is expected to hold the largest market share and is expected to lead the geofencing market in terms of market share due to dominance by U.S. and Canada and is attributed to the increasing demand for analytical tools and spatial data in the region. The major contributing factor towards this is a well-established infrastructure allowing the implementation of advanced technologies. Increasing popularity and rise in adoption of business intelligence is another major factor responsible for driving the growth of geofencing market. On the other hand, Asia Pacific is expected to show the highest growth during the forecast period.

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