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    Geofencing Market

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    Ashish Verma
    The geofencing market is growing due to increased mobile phone and internet use. It is projected to grow to $1.8 billion by 2022. Deployment and integration services make up the largest segment. Government and defense is the second largest user. North America currently has the largest market share.

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    Geofencing Market

    Uploaded by

    Ashish Verma
    5 views2 pages
    The geofencing market is growing due to increased mobile phone and internet use. It is projected to grow to $1.8 billion by 2022. Deployment and integration services make up the largest segment. Government and defense is the second largest user. North America currently has the largest market share.

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    Geofencing Market by Component (Solution and Services), Geofencing Type (Fixed and Mobile), Organization Size, Vertical (Transportation & Logistics, Government & Defense, Retail, Healthcare & Life Sciences), and Region - Global Forecast to 2022

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    The geofencing market is growing due to increased mobile phone and internet use. It is projected to grow to $1.8 billion by 2022. Deployment and integration services make up the largest segment. Government and defense is the second largest user. North America currently has the largest market share.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    5 views2 pages

    Geofencing Market

    Uploaded by

    Ashish Verma
    The geofencing market is growing due to increased mobile phone and internet use. It is projected to grow to $1.8 billion by 2022. Deployment and integration services make up the largest segment. Government and defense is the second largest user. North America currently has the largest market share.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Geofencing Market worth 1,825.

    3 Million USD by 2022

    The geofencing market is gaining traction, due to the widespread adoption of mobile phones and the increase in
    internet penetration across various geographies. Penetration of latest technologies, rise in the use of spatial data,
    increasing applications in numerous industry verticals, and higher adoption of location-based applications among
    consumers are some of the other factors contributing to the growth of the overall geofencing market.
    MarketsandMarkets forecasts the global geofencing market size to grow from USD 542.7 Million in 2017 to USD
    1,825.3 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 27.5%.

    Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209129830

    The deployment and integration services segment is expected to have the largest market size in the
    geofencingmarket during the forecast period.

    Deployment and integration are important stages in the implementation of the geofencing technology for various
    industry verticals. Geofencing solutions can be integrated with the existing systems, and the integration requires
    an exact level of system integrators and system enablers. It is necessary for the enterprises to create a safe
    environment for geofencing, as it is used for tracking users and sending push notifications.

    The government and defense vertical is estimated to have the second largest market size in 2017.

    The government and defense vertical includes various applications of the geofencing technology, such as marine
    defense, drone management, airforce defense, military vehicle management, law enforcement, and geographic
    event alerts. The governments of several countries are investing significantly in location-based services, further
    boosting the growth of the geofencing market. Geofencing solutions help in marine defense by creating multiple
    geofences over the water bodies, thereby assisting in avoiding malicious intrusions in the restricted areas.
    Additionally, geofencing helps create virtual fences over the designated areas to keep the drones away. Drones
    need a navigation system and an autopilot software to interact with the fences. This autopilot software continually
    calculates the distance between the destinations and also ensures the drones do not fly over any restricted zone.

    North America is expected to have the largest market share in the geofencing market during the forecast period.

    North America is expected to have the largest market share and dominate the geofencing market during the
    forecast period. The region has the presence of major sustainable and well-established economies who invest
    substantially in Research and Development (R&D) activities, thereby contributing to the development of new
    location-based technologies. These technologies complement the growth of the geofencing market.

    The region comprises countries such as the US and Canada, which are witnessing the significant adoption of
    geofencing solutions. Growing trends such as Know Your Customer (KYC), the rise in the use of smartphones, and
    the increase in the use of social media platforms have resulted in the tremendous growth of technology adoption
    in this region. Various government initiatives, such as smart city projects and telematics programs, are also
    favoring the implementation of geofencing solutions in this region.

    The major vendors in the geofencing market include Simpli.fi (US), Embitel (India), Thumbvista (US), Pulsate(US),
    Mobinius Technologies (India), Esri (US), Bluedot Innovation (US), GeoMoby (Australia), GPSWOX (UK), Apple (US),
    Localytics (US), Swirl Networks (US), DreamOrbit (India), Factual (US), InVisage (US), LocationSmart (US), MAPCITE
    (UK), Maven Systems (India), MobiOcean (India), Nisos Technologies (US), Urban Airship (US), plot projects
    (Netherlands), Raveon Technologies(US), and SuccorfishM2M (UK).

    Browse in-depth TOC on report @ https://www.marketsandmarkets.com/Market-Reports/geofencing-market-


    209129830.html

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