Market Highlights

As indicated by Market Research Future (MRFR), the global geomarketing market size is assessed to arrive at USD 23.89 billion at a CAGR of 24.8% from 2019 to 2024 (gauge period). The review looks at the impacts of COVID-19 on the business, including possible open doors and difficulties, drivers and dangers, and market development gauges in view of a wide scope of situations.

Geomarketing is a device that utilizes information in view of geographical areas to assist organizations with creating marketing techniques and missions. Digital mapping helps marketers assess information by area or actual area (e.g., store) to arrange and show information. Geomarketing is turning out to be more financially savvy with the presentation of digital advancements, implying that organizations of any scale can create a gain. Geomarketing includes geographic information systems (GIS) and geographic setting information for looking through the web, cell phone research and online media as a component of a digital technique. A few geomarketing administrations are viable with various gadgets, for example, cell phones, tablets and PCs.

Market Dynamics

Expanded interest for imaginative digital marketing innovation, expanded reception of enormous information stages, and continuous development in business knowledge arrangements drive the market. Geomarketing is one of the quickest developing markets in the global business, Digital Marketing, where marketing techniques are created and executed by coordinating the area knowledge of the objective clients. Geomarketing helps organizations convey the right message (information connected with item, advancement, cost, or spot) to the ideal client at the ideal time. This market gives huge learning experiences to arrangement suppliers to advance on their contributions and fulfill their customers' shifted business needs. Albeit the market is acquiring impressive energy in many created nations, the predetermined number of retail outlets and shopping centers and the utilization of traditional promoting methodologies in many arising economies compel the development of the geomarketing business.

Geomarketing arrangements are by and large took on by different modern verticals, with retail and purchaser merchandise being the predominant market share section. Interestingly, the media and diversion portion are projected to ascend with the most noteworthy CAGR from 2019 to 2024.

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Segmentation:

The global market for geomarketing has been segmented into component, location-tracking technology, consumer location, deployment mode, organization size, and industry vertical.

By component, the global geomarketing market has been segmented into software and services. The software segment is further divided into content management, location analytics, geofencing, and reporting, and visualization. The services segment is further divided into implementation and integration services, consulting services, and support and maintenance services.

By location-tracking technology, the global geomarketing market has been segmented into global positioning systems, Bluetooth, Wi-Fi, and iBeacon.

Based on consumer location, the global geomarketing market has been segmented into indoor and outdoor.

By deployment mode, the global geomarketing market has been segmented into the cloud and on-premise.

By organization size, the global geomarketing market has been segmented into large enterprises and small- and medium-sized enterprises (SMEs).

By industry verticals, the global geomarketing market has been segmented into retail and consumer goods, banking, financial services, and insurance (BFSI), travel and hospitality, healthcare, media and entertainment, and telecommunications.

Regional Analysis

The regional analysis of the global geomarketing market has been conducted for North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

North America is expected to drive the geomarketing market during the forecast period. Being the most advanced region in the development and adoption of emerging technologies in the area of digital marketing, North America is predicted to be at the forefront of business growth. In addition, the high adoption of IoT technologies also contributes significantly to the growth of the regional market. The US is predicted to be the leading country-level market in North America and the world during the forecast period.

The Asian Pacific market is projected to expand at the fastest pace during the forecast period. The digitization and the increasing retail and e-commerce sectors are expected to fuel the geomarketing industry's growth in the Asia Pacific region. India, China, Japan, South Korea, Singapore, and Australia have been the leading market share countries in the Asia Pacific region, and this trend is anticipated to remain during the forecast period.

Key Players

Industry giants in the global geomarketing market are Oracle Corporation (US), Adobe Inc. (US), Microsoft Corporation (US), Cisco Systems, Inc. (US), Google LLC (US), Software AG (Germany), IBM Corporation (US), Qualcomm Technologies, Inc. (US), Salesforce.com, Inc. (US), Telefonaktiebolaget LM Ericsson (Sweden), MobileBridge (Netherlands), Galigeo (France), Xtremepush (Ireland), Plot Projects (Netherlands), and HYP3R Inc (US).

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Geomarketing Market Research Report: by Component [Software (Content Management, Location Analytics, Geofencing and Reporting and Visualization) and Services (Consulting Services, Implementation and Integration Services, Support and Maintenance Services)], Location-tracking Technology (Global Positioning System, Bluetooth, Wi-Fi and iBeacon), Consumer Location (Indoor and Outdoor), Deployment Mode (Cloud and On-premises), Organization Size (Large Enterprises and Small and Medium-sized Enterprises) - Forecast till 2027

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