Be it digital marketing or the latest communication the way marketing has revolutionized, it has been on a fast track. According to the Market Research Future, the global geomarketing market is expected a robust CAGR of 24.8%, during the forecast period 2019 to 2024. The digital technologies are helming the communication aspect of several geomarketing companies and have successfully percolated in industries such as advertising, retail, consumer goods, and much more.
The well-known players in geomarketing market are listed as Oracle Corporation (US), Adobe Inc. (US), Cisco Systems, Inc. (US), IBM Corporation (US), Google LLC (US), Microsoft Corporation (US), Software AG (Germany), Salesforce.com, Inc. (US), Qualcomm Technologies, Inc. (US), Telefonaktiebolaget LM Ericsson (Sweden), Xtremepush (Ireland), MobileBridge (Netherlands), Galigeo (France), Plot Projects (Netherlands), and HYP3R Inc (US).
Market Drivers & Trends
The key factors driving the global Geomarketing Market are the surging demand for advanced digital marketing technologies, augmented adoption of big data platforms, and continuous innovation in business intelligence solutions. At present, geomarketing is being one of the fastest emerging areas within the bigger market, digital marketing where the marketing made and implemented by incorporating the location-intelligence of the target customers. With having such a robust background of geomarketing, the market of it is expanding at an exponential rate, which has never been recorded in the past. As an add-on, the market is also anticipated that the global market for geomarketing will prosper substantially throughout the progression period.
On the other side, geomarketing is also helping the businesses, across the world, is delivering the right information related to product, promotion, price, or place to the customers all the time. Due to this, the market is offering massive growth opportunities for the solution providers to introduce further offerings and meet diverse case requirement for the clients. By basing on these factors, the market is gaining considerable traction, especially in developed countries. It is the number of retail outlets and shopping malls are in real benefit with the help of latest advertising methods and are contributing to the market substantially and would do the same in the forecast period as well.
According to MRFR’s study, the global geomarketing market has been segmented amongst component, location-tracking technology, consumer location, deployment mode, organization size, and industry vertical.
By the mode of component, the market consists of software and services. Amongst these, the software segment is categorized into content management, location analytics, geo-fencing, and reporting and visualization. The services cover the parts of consulting services, implementation and integration services, and support and maintenance services.
By the mode of location-tracking technology, the market is categorized into global positioning systems, Bluetooth, Wi-Fi, and iBeacon.
By the mode of consumer location, the market is bifurcated into indoor and outdoor.
By the mode of deployment, this market segment is categorized into the cloud and on-premise.
By the mode of organization size, this market segment is bifurcated into large enterprises and small- and medium-sized enterprises (SMEs).
Detailed Regional Details
Region-wise analysis, the global geomarketing market study has covered the main regions such as North America, Europe, Asia-Pacific, the Middle East, and Africa.
North America is to lead the geomarketing market throughout the assessment period as this region is one of the most sophisticated regions in terms of development and adoption of innovative technologies in the field of digital marketing. Backing on this, North America is anticipated to be at the forefront of market growth due to high adoption of IoT technologies, which is also drastically contributing to the growth of the regional market. The US is likely to be the leading country-level market in North America as well as the world during the forecast period.
The geomarketing market in Asia-Pacific is also anticipated to proliferate at the fastest rate throughout the assessment period. Escalating digitalization and growing retail and e-commerce sectors are projected to advance the growth of the geomarketing market in this region. Countries like China, Japan, India, South Korea, Singapore, and Australia have been the major countries in the Asia-Pacific region to contribute mainly to the market share, and this trend is expected to continue during the review period as well.
LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL GEOMARKETING MARKET, BY COMPONENT, 2019–2024 (USD MILLION)
TABLE 3 GLOBAL GEOMARKETING MARKET, BY SOLUTION, 2019–2024 (USD MILLION)
TABLE 4 GLOBAL GEOMARKETING MARKET, BY SERVICE, 2019–2024 (USD MILLION)
TABLE 5 GLOBAL GEOMARKETING MARKET, BY LOCATION-TRACTION TECHNOLOGY, 2019–2024 (USD MILLION)
LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS
FIGURE 2 RESEARCH PROCESS OF MRFR
FIGURE 3 TOP DOWN & BOTTOM UP APPROACH
FIGURE 4 GLOBAL GEOMARKETING MARKET, BY COMPONENT, 2019–2024 (USD MILLION)
FIGURE 5 GLOBAL GEOMARKETING MARKET, BY SOLUTION, 2019–2024 (USD MILLION)
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