Press release
Internet Of Things (IoT) Contribution To Geofencing Software Market Momentum Driver: Leading Transformation in the Geofencing Software Market in 2025
Geofencing Software Market
The geofencing software market is projected to expand due to the escalating demand for the Internet of Things (IoT). IoT, which refers to a network of interconnected physical objects equipped with sensors, software and other technology to collect and share data via the internet, is seeing heightened demand. This is attributed to a number of factors such as the widespread availability of high-speed internet, the need for data analytics and insights, and the rise of Industry 4.0 and digital transformation schemes. The amalgamation of IoT with geofencing software magnifies its potency, allowing companies to generate smarter, more adaptive, and tailor-made location-based experiences for customers. For example, Akamai Technologies Inc., a USA-based internet firm, reported in August 2022 that IoT connections are predicted to surge from 15.1 billion in 2021 to 23.3 billion in 2025. Therefore, the mounting demand for IoT is fueling the expansion of the geofencing software market.
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What Is the projected market size and growth rate for the geofencing software market?
In recent times, there has been a swift expansion in the market size of geofencing software. It's estimated to escalate from $49.63 billion in 2024 to a whopping $55.54 billion in 2025, reflecting a compound yearly growth rate (CAGR) of 11.9%. Factors contributing to the growth observed in the historic period include enhanced smartphone usage, an upward trend in location-oriented marketing, wider acceptance of the Internet of Things (IoT), the introduction of smart city programs, and improved regulations concerning data privacy.
In the coming years, the scale of the geofencing software market is anticipated to experience swift growth, eventually reaching a value of $86.1 billion in 2029, with a compound annual growth rate (CAGR) of 11.6%. The notable increase during the prediction period can be associated with the widespread 5G networks, the burgeoning e-commerce and online retail sectors, the emergence of self-driving vehicles and delivery drones, an increased emphasis on real-time location monitoring, and a rising demand for customized user experiences. The forthcoming period is also expected to witness major trends such as dynamic geofencing for adaptable boundaries, the emergence of privacy-oriented geofencing solutions, the merger of geofencing with wearable technology and smart devices, and efforts towards environmental monitoring and preservation.
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What are the emerging trends shaping the future of the geofencing software market?
Key players in the geofencing software industry are prioritizing collaboration and co-creation of innovative solutions, like the self-served geofence advertising platform, to bolster their competitive standing. Businesses that partner with others gain access to supplemental technology, expand their marketplace footprint, and enhance their geofencing software's quality and efficiency. An example of this is Ethic Advertising Agency, a digital advertising firm based in the United States, teaming up with Simpli.fi, another U.S. digital advertising platform, in July 2023 to debut the Qujam platform. As the first self-served geofence advertising platform, Qujam aims to support small businesses and agencies. It offers a variety of advertisement options like banner ads on mobile apps and websites, OTT CTV adverts on video streaming apps, and video pre-rolls. The platform solves many issues small businesses typically face with geofence advertising, including high costs, managed-only solutions, and the absence of reporting dashboards, by offering a fully DIY, real-time reporting platform.
What major market segments define the scope and growth of the geofencing software market?
The geofencing software market covered in this report is segmented -
1) By Product Or Type: Cloud-Based, On-Premise
2) By Application: Transportation And Logistics, Retail, Healthcare And Life Sciences, Industrial Manufacturing, Media And Entertainment, Government And Defense, Banking, Financial Services, And Insurance (BFSI), Other Applications
3) By End-User: Small And Medium Enterprises, Large Enterprises
Subsegments:
1) By Cloud-Based: SaaS (Software-As-A-Service) Solutions, Managed Cloud Services, Multi-Tenant Cloud Platforms
2) By On-Premise: Enterprise-Installed Software, Custom On-Premise Solutions, Single-Tenant On-Premise Platforms
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Which region dominates the geofencing software market?
North America was the largest region in the geofencing software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geofencing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the geofencing software industry growth?
Major companies operating in the geofencing software market are Apple Inc., Google LLC (Alphabet Inc.), Samsung Electronics Co., Infosys Ltd., Environmental Systems Research Institute Inc. (Esri), XebiaLabs Inc., HERE Global B.V., GitLab Inc., MoEngage Inc., CloudBees Inc., CollabNet VersionOne Inc. (CollabNet), WebEngage, Mobstac, ConnectALL, GroundTruth, Bluedot Innovation Pty Ltd., Radar Labs Inc., Pulsate Ltd., The Mobile Majority, Leantegra, Plutora, Bleesk, Skyhook Wireless, Logitrack, PlotProjects
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What Is Covered In The Geofencing Software Global Market Report?
• Market Size Forecast: Examine the geofencing software market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the geofencing software market for a structured understanding.
• Key Players Overview: Analyze major players in the geofencing software market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the geofencing software market.
• Segment Contributions: Evaluate how different segments drive overall growth in the geofencing software market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the geofencing software market.
• Industry Challenges: Identify potential risks and obstacles affecting the geofencing software market.
• Competitive Landscape: Review strategic developments in the geofencing software market, including expansions, agreements, and new product launches.
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