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(USGovernment-News.Com, July 03, 2018 ) Our analysts forecast the Global Geofencing Market to grow at a CAGR of more than 27% over the period 2018-2023.
The technology combines the awareness of user's current location with that of their proximity to a location of interest. The market is witnessing rapid growth due to increasing global penetration of mobile devices and favorable growth of location-based services implementation. As businesses are increasingly realizing the benefits of location-based monitoring and management of mobile resources for increasing workforce and process productivity, the market is expected to exhibit robust growth over the forecasted timeline. Moreover, increasing awareness regarding competitive intelligence and growing popularity of proximity marketing are also projected to propel the market growth.
The Global Geofencing Market research report helps analyze the market on a global basis and also offers forecast and statistics in terms of revenue for the forecast period 2018 to 2023. This research study offers a detailed overview of the market dynamics that are expected to affect the overall industry in the coming few years. The report has been well-organized applying primary and secondary research approaches.
On the basis of organization size, the geofencing market is segmented into Small and Medium-sized Enterprises (SMEs) and large enterprises. The geofencing market, on the basis of verticals, is segmented into transportation and logistics; retail; healthcare and life sciences; industrial manufacturing; media and entertainment; government and defense; Banking, Financial Services, and Insurance (BFSI); and others (agriculture, education, construction and engineering, and energy and utilities). The transportation and logistics vertical is expected to have the largest market share during the forecast period. Transportation and logistics is one of the most dominating verticals with respect to the deployment of geofencing solutions. Industry applications of geofencing solutions in the transportation and logistics vertical include asset monitoring, speed limiting, fleet and freight management, and commercial transportation management.
In the direction of ensuring that the data gathered is consistent, sources of information used are declared as genuine and legal. The sources include twelve-monthly reports on the Geofencing market, management reports, international news, and business credit reports. Similarly there were conferences held with the customers, market specialists and so forth. Perceptions from them were important in classifying and understanding the inner workings of the Global Geofencing Market.
In addition, market attractiveness according to country, end-user, and other measures is also provided, permitting the reader to gauge the most talented or commercial areas for investments. The report also provides a detailed synopsis of the competitive scenario, wherein complete business profiles of some of the prime companies in the Geofencing market are included. The intensity of rivalry in the market, threat of new players, entry obstacles for new competitive, and areas of development based on earlier data about popular approaches observed in the past few years are also inspected in detail.
With all the gathered data analyzed using SWOT analysis, there is a clear understanding of the economic landscape of the Geofencing market. Prospective for the markets growth was uncovered and out-of-the-way economical threats also became apparent. Likewise, the research study provides the earlier demonstration of this market along with the prediction facts with the help of tables, graphs, charts, and infographics.
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