Global Geomarketing Market was valued at US$ 6.23Bn in 2017 and is expected to reach US$ 37.56Bn by 2026, at a CAGR of 25.18 % during a forecast period.
The factors contributing to the high development rate are growing demand for location-based intelligence to improve the business outcome, use of location analytics and big data to collect complete and separated information about possible markets and customers, wide receipt of location-based applications between the customers, and growing investment in digital marketing compared to conventional marketing.
Based on the softwaresegment,the deployment and integration segment is projected to hold the largest market size and is projected to grow at the highest CAGR during the forecast period. Deployment and combination services help in reducing the time required for deploying and integrating geomarketing solutions. These services ensure safety and security of integration of mobile devices with the geofenced ecosystem. Service providers safeguard and confirm the integration and installation of the geomarketing solutions for quality assurance,
On the basis of Vertical segment, Retail business can use location-based promotional activities in multiple ways, like sending proximity messages and using a geomarketing solution to the mobile devices of potential customers who pass by the store. Furthermore, on the arrival of customers near stores, storekeepers can be notified so that goods ordered online by customers can be kept ready for pickup. Such kind of promotional activities help in reaching consumers at the right place and at the right time. Geomarketing campaigns help improve the customer experience. Location analytics helps marketers find the most profitable customers and identify more such customers.
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In terms of region, North Americais expected to hold the largest market size in the Geomarketing market in the education sector. The US and Canada are the major contributors to the growth of the overall North American region. The growth in North America is mainly due to continuous technological advancements in the geomarketing field, increased industry standards regarding geomarketing, and enhanced financial support from governments. The region has many startups operating in the market. The 2 major suppliers to the overall global geomarketing market in the region are the US and Canada. Furthermore, the businesses in this region are focusing more on analytics plans because nowadays customers are accessing multiple touch points.
Key players are offer various geomarketing solutions to cater to the demands and needs of the market. The major growth strategies implemented by these players are partnerships, collaborations and agreements, and new product launches or product improvements.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Geomarketing Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Geomarketing Market.
Scope of Global Geomarketing Market
Global Geomarketing Market, by Technology
• Global Positioning System
• Radio-Frequency Identification
• Near-Field Communication
o Content Management
o Location and Predictive Analytics
o Reporting and Data Visualization
o Advisory and Consulting
o Deployment and Integration
o Support and Maintenance
• Healthcare and Life Sciences
• Travel and Hospitality
• Banking, Financial Services, and Insurance
• Media and Entertainment
• Telecommunications and IT
• Asia Pacific
• Middle East & Africa
• South America
• Microsoft Corporation
• Oracle Corporation
• Software AG
• Plot Projects
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