Active Geofencing Global Market Report 2024

The active geofencing market size has grown exponentially in recent years. It will grow from $1.46 billion in 2023 to $1.77 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The growth witnessed in the historic period can be attributed to several factors. These include the proliferation of smartphone usage, an increasing demand for personalized marketing approaches, the expansion of location-based services (LBS), a growing need for real-time consumer engagement, and the widening adoption of data analytics in marketing strategies.

The active geofencing market size is expected to see exponential growth in the next few years. It will grow to $3.88 billion in 2028 at a compound annual growth rate (CAGR) of 21.7%. The anticipated growth in the forecast period can be attributed to several key drivers. These include the expansion of smart city initiatives, the rise in mobile commerce transactions, a heightened focus on hyper-local marketing strategies, an increasing demand for contactless retail experiences, and the growth of location-based gaming. Major trends expected during this period encompass the emergence of hyper-personalized marketing campaigns, the utilization of virtual geofencing for remote engagement, the integration of geofencing technology in supply chain management processes, and the incorporation of geofencing with voice assistants and smart speakers to enhance user experiences.

The burgeoning adoption of mobile devices is poised to be a driving force behind the expansion of the active geofencing market in the foreseeable future. Mobile devices, encompassing a wide array of portable electronic gadgets tailored for wireless communication and data transmission, are witnessing a surge in adoption propelled by various factors including the widespread availability of 4G LTE and 5G networks, the burgeoning e-commerce landscape, and enhanced affordability, rendering them accessible to a broader global audience. Leveraging the capabilities of mobile devices, active geofencing garners precise location data, facilitates instantaneous communication, and offers a user-friendly interface for seamless interaction with geofencing systems. A report by the GSM Association in February 2022 highlighted a global count of 5.3 billion mobile service subscriptions by the end of 2021, with projections anticipating an additional 400 million new subscribers by 2025. Consequently, the escalating adoption of mobile devices stands as a pivotal driver propelling the growth trajectory of the active geofencing market.

Major players in the active geofencing market are intensifying their efforts towards the development of sophisticated solutions, exemplified by innovations such as the geofence buzzer solution, aimed at enhancing real-time alerting capabilities for businesses and organizations. The geofence buzzer solution, a notable advancement in active geofencing technology, furnishes users with real-time alerts or notifications upon the entry or exit of a device from predefined geographic boundaries, leveraging GPS or other location-based technologies. For instance, Tagmarshal, a US-based developer of a B2B golf course optimization platform, introduced the Geofence Buzzer solution in June 2021 to actively manage cart tracking and geofencing compliance on golf courses. This pioneering system emits an audible warning signal when a golf cart veers off the designated cart path, aiming to bolster pace-of-play management by providing visual and auditory alerts to players through 2Way screens upon geofence breaches. This technology presents an effective mechanism for ensuring adherence to geofencing regulations and streamlining cart control on golf courses.

In June 2023, Lionfield Capital, a US-based private investment company, completed the acquisition of Mudshare, underscoring a strategic move aimed at augmenting Mudshare's capabilities and footprint in the tech ecosystem, particularly within the civic tech sector. This acquisition is poised to bolster Mudshare's position as a leading provider of marketing technology solutions, including active geofencing and peer-to-peer texting services. By empowering marketers to harness geofencing technology for targeted advertising and communication strategies, Mudshare facilitates meaningful connections and communication for impactful civic causes, aligning seamlessly with Lionfield Capital's strategic vision of fostering innovation and driving growth within the tech landscape.

Major companies operating in the active geofencing market are Apple Inc., Google LLC, Samsung Electronics Co., Microsoft Corporation, AT&T Inc., Intel Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Qualcomm Incorporated, Salesforce Inc., Nokia Corporation, SZ DJI Technology Co., Esri, Upland Software Inc., Simpli.fi, Bluedot Innovation Pty Ltd, Infillion PaeDae Inc., Radar Labs Inc., Pulsate Ltd., tado GmbH, Aware360 Ltd., LocationSmart, Mapcite, mSpy.

North America was the largest region in the active geofencing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the active geofencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the active geofencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Active geofencing is a location-based technology that establishes virtual boundaries, known as 'geofences', around specific geographic areas. These geofences trigger predetermined actions or notifications when a mobile device or asset enters or exits the defined area in real-time. Operators utilize this technology to deliver targeted advertisements or customized messages directly to users when their device enters a designated geographical area.

The primary categories of active geofencing are fixed and mobile. Fixed active geofencing involves setting up static virtual boundaries around particular locations and activating actions or notifications when devices enter or leave these predefined areas. It encompasses various components, including hardware, services, and software, and utilizes technologies such as cellular networks, GPS, RFID, and WIFI. Active geofencing finds applications across organizations of various sizes, ranging from large enterprises to small and medium-sized businesses, across a multitude of industries, including banking, financial services, insurance, retail, defense, government, healthcare, industrial manufacturing, transportation, logistics, and more.

The active geofencing market research report is one of a series of new reports that provides active geofencing market statistics, including active geofencing industry global market size, regional shares, competitors with an active geofencing market share, detailed active geofencing market segments, market trends and opportunities, and any further data you may need to thrive in the active geofencing industry. This active geofencing market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The active geofencing market consists of revenues earned by entities by providing services such as real-time location tracking, location-based marketing, analytics and reporting, and customer engagement and loyalty programs. The market value includes the value of related goods sold by the service provider or included within the service offering. The active geofencing market also includes sales of products such as Bluetooth beacons, Near Field Communication (NFC) tags, geolocation sensors, and satellite-based navigation systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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