The concept of geo-marketing across the world is projected to develop from USD 7.89 bn in 2019 to USD 23.89 bn by the conclusion of 2024. Geo-marketing is expected to expand at 24.8% CAGR from 2019 to 2024. Key forces propelling the market include the need for innovative digital marketing technologies, surged adoption of big data platforms, and unremitting progressions in business intelligence solutions. Geo-marketing is one of the swiftest emerging domains within digital marketing platforms, where the marketing strategies are devised and implemented with the integration of intelligence prevailing within the customers. Geo marketing helps businesses in conveying the right message (information associated with promotion, product, place, or price) to the right market at the right time. The market is contributing lucrative growth opportunities for the solution providers to work on their offerings and meet the different requirements of their users. Even though, the market is acquiring major traction in many emerged economies, the restricted number of shopping malls and retail outlets coupled with the employment of conventional advertising methods in several emerging economies are acting as barriers to the development of the geo-marketing market. Geo-marketing services are being largely adopted by several industries with consumer and retail goods being the leading segment in terms of market share while the entertainment and media segment is likely to develop with the largest CAGR from 2019 to 2024.
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The worldwide geo-marketing market is segmented based on location-tracking technology, component, deployment mode, consumer location, country/ region, industry vertical, and organization size. Based on location-tracking technology, the market is segmented into Bluetooth, global positioning systems, iBeacon, and Wi-Fi. Based on component, the market is segmented into services and software. The software segment is sub-segmented into location analytics, content management, reporting, visualization, and geo-fencing. The services encompassed in the segment include implementation, integration services, maintenance and support services, and consulting services. Based on consumer location, the market is categorized into outdoor and indoor. Based on deployment mode, the market is segmented into on premise and cloud geo-marketing. Based on organization size, the market is segmented into small- and medium-sized enterprises (SMEs) and large enterprises. The verticals covered in this segmentation include consumer and retail goods, banking, travel and hospitality, insurance (BFSI), healthcare, financial services, telecommunications, and media and entertainment. Based on region, the market is segmented into Europe, North America, the Middle East and Africa, South America, and Asia-Pacific. North America is sub segmented into Canada, Mexico and the US. Europe is segmented into the France, UK, Germany, and the rest of Europe, and Asia-Pacific is segmented into India, China, Japan, and the rest of Asia-Pacific.
Global Geomarketing Market is dominated by players such as Adobe Inc. (US), Oracle Corporation (US), IBM Corporation (US), Cisco Systems, Inc. (US), Microsoft Corporation (US), Google LLC (US), Salesforce.com, Inc. (US), Software AG (Germany), Telefonaktiebolaget LM Ericsson (Sweden), Qualcomm Technologies, Inc. (US), MobileBridge (Netherlands), Xtremepush (Ireland), Plot Projects (Netherlands), HYP3R Inc (US), and Galigeo (France).
North America is estimated to lead the geo-marketing market over the assessment period. Being the most progressive market in terms of adoption and development of innovative technologies in digital marketing. North America is likely to witness notable market growth. Additionally, increased adoption of IoT technologies is extensively contributing to the development of the regional market. The US is likely to be the leading country-level market within North America as well as the entire world over the forecast period. The APAC market is likely to expand at the fastest rate throughout the forecast period. Surging digitalization and increasing e-commerce and retail sectors are predicted to propel the development of geo-marketing in the Asia-Pacific market.
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)
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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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