Geomarketing Market was valued at USD 11.2 Billion in 2021, and it is expected to reach USD 32.8 Billion by 2027, exhibiting a CAGR of 19.61 % during the forecast period (2022-2027). Geomarketing is the analysis of a country's demographic and economic data in order to develop marketing strategies. Users can display information about competitors, consumption, distribution, fidelity cards, and estimate turnover using a digital map, and they can also be used to produce presentations. Geomarketing solution provider's strategy is in keeping with its more moderate approach to product innovation, which allows customers to gradually adopt newer technology. This method also assists the Geomarketing company in growing its customer base and expanding its product offerings. In the MMR report, 2021 is considered as a base year to estimate the market from 2022 to 2027. 2021’s market size is estimated on real numbers and outputs of the manufacturers and major players across the globe. Past five years' trends are considered while forecasting the market by 2027.To know about the Research Methodology:-Request Free Sample Report
Geomarketing Market Dynamics
Global Geomarketing Market dynamics are thoroughly studied and explained in the MR report, which helps reader to understand emerging market trends, drivers, restraints, opportunities, and challenges at global and regional level for the Global Geomarketing Market. Geomarketing Software is Becoming Increasingly Popular in The Retail Industry: Retailers use location-based promotional tactics in a variety of ways, including delivering proximity notifications. Through targeted reach, geomarketing efforts assist to improve the consumer experience. Location analytics aids marketers in identifying the most profitable clients and identifying more of them in order to generate money. Timberland, for example, was able to increase store visits by 6% by targeting urban explorers near their locations. Currys PC World adopted a similar strategy to boost shop visits by 12% by combining audience and location targeting. Rising Check-Ins on Social-Media: Social check-ins, which allow users to digitally "check in" to multiple geofencing areas, can be used to send unique offers to customers who are already in the store, restaurant, or shop, allowing for a better experience for a large audience. Foursquare is a popular program uses location data from end users to drive store visits within geofences. Opportunity For Growth of The Global Geomarketing Market: Geomarketing market has potential growth opportunities as data and digital technologies become more diverse. Consumer behaviour in retail outlets, real-time marketing analysis, sensor-driven decision analytics, and instantaneous control response in complex autonomous systems have all benefited from the increased adoption of advanced technologies (advanced analytics, IoT, edge computing, and blockchain). The IoT connects businesses and governments to smart opportunities including smart cities, smart transportation, and smart projects. Consumer demand for mobile computing and the popularity of social media websites are two variables that are projected to drive significant revenue development for major participants in the global market over the next ten years. Major Challenges that may Restrain Growth of the Geomarketing Market: Uniform regulatory standards are absent in many developed and developing countries therefore, there are concerns related with individual data privacy and increasing cyber threats are key factors that could hinder growth of the global geomarketing market to a certain extent.Trending Factors in Geomarketing Market Globally:
o Increased Use of Emerging Technologies in The Marketing Industry o Growing Demand for Location-Based Intelligence to Boost Business Profits o Demand For Cloud Services Is Increasing. o Increase In Internet Usage o Advanced Location-Based Software Technologies to Update Older SystemsGeomarketing Market Segment Analysis
MMR provides an analysis of the key trends in each sub-segment of the Geomarketing Market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on Component, Organization Size, Deployment Mode, Location and Vertical.Based On the Deployment Model, the cloud segment is projected to grow at the highest CAGR of 20.12% during 2021-2027. Geomarketing apps and software are deployed using cloud deployment technique. For geomarketing and location-based analytics, firms are increasingly turning to cloud-based services. Because of the flexibility given by these services, more businesses are opting for cloud-based geomarketing solutions, which is predicted to increase at a quicker rate over the next five years. By Location, the outdoors segment dominated the market, with market size of US$ XX Bn in 2020 and to reach US$ xx Bn by 2027, with a nearly CAGR of 21%. This growth is attributed to the growing use of geofenced areas and virtual perimeters outside the store to attract clients. Businesses can send notifications to their target audience to inform them of new products and services. It is an efficient method because stores may draw a large number of people to their establishments simply by erecting a virtual border or fence around a geographic region of interest, a target location, or a neighbourhood.
Geomarketing Market Regional Insights
Regional insight is another highly comprehensive part of the analysis and research study of the global market for geomarketing presented in the MMR report. North America region holds the largest XX% share of the market across the world followed by Europe, and APAC. This growth is driven by the growing IT spending, acceptance of advanced technologies, and the presence of a large number of substantial market vendors in North America. According to the report, North American IT spending on products and services is expected to climb 3.7 percent in 2019, surpass USD 1 trillion in 2020, and account for 40 % of total global revenues during that time. Furthermore, software spending in the US is expected to expand at a robust XX% CAGR during the projection period, making it the largest category by 2027. Furthermore, rapid evolution, legislation, and consumer expectations are forcing financial institutions to become nimbler and more open while ensuring strict security and data privacy. Because roughly two out of every three Americans now has a smartphone, financial institutions have a wide range of chances to profit by tailoring products and services to consumers depending on geography, which has led to partnership between numerous BFSI companies and IT suppliers.Geomarketing Market: Competitive Landscape
The MMR reports cover key developments in the Geomarketing Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies for example product launches, product approvals and others like patents and events.
In May 2020 In response to the COVID-19 situation in Latin America and the Caribbean, ESRI Business Information Solutions Inc has teamed with the Inter-American Development Bank (IDB) to give free access to geospatial technologies (LAC). Governments in the region will be able to track essential equipment and assets availability, manage supply chains, and sustain business continuity using a COVID-19 solution. In March 2020 Bluedot, a foremost provider of first-person location data, has publicized an addition with Oracle Responsys, a real-time, omni-channel orchestration platform within the Oracle Marketing Cloud, to harness the power of location. The addition will give Oracle Responsys clients access to real-world insights needed to create meaningful, timely drives with their end users. Geomarketing Market Scope : Inquire before buying
Global Geomarketing Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2027 Historical Data: 2017 to 2021 Market Size in 2021: US $ 11.2 Bn. Forecast Period 2022 to 2027 CAGR: 19.61% Market Size in 2027: US $ 32.8 Bn. Segments Covered: by Component • Software • Services by Deployment Mode • Cloud o Advisory and Consulting o Deployment and Integration o Support and Maintenance • On-Premises by Location • Indoor • Outdoor by Organization Size • Large Enterprises • SMEs by Vertical • Retail and eCommerce • Healthcare and Life Sciences • Travel and Hospitality • BFSI • Media and Entertainment • Telecommunications and IT • Others (transportation and logistics, government and public sector, and education) Key Players operating in Geomarketing Market:
o IBM o Google o Microsoft o Cisco o Oracle o Adobe o Salesforce o Ericsson o ESRI o Qualcomm o Cloud4Wi o HERE (US) o Xtremepush o Software AG o Plot Projects o MobileBridge o Saksoft o HYP3R o Reveal Mobile o Galigeo o Navigine o CleverTap o Airship o Bluedot Innovation o Rover o LocationGuru o Foursquare o Brillio o Purple Wifi o GeoMoby o Carto o Quuppa Frequently Asked Questions: 1] What segments are covered in the Global Geomarketing Market report? Ans. The segments covered in the Geomarketing Market report are based on Component, Organization Size, Deployment Mode, Location and Vertica. 2] Which region is expected to hold the highest share in the Global Geomarketing Market? Ans. North America region is expected to hold the highest share in the Geomarketing Market. 3] What is the market size of the Global Geomarketing Market by 2027? Ans. The market size of the Geomarketing Market by 2027 is expected to reach USD 32.8 Bn. 4] What is the forecast period for the Global Geomarketing Market? Ans. The forecast period for the Geomarketing Market is 2022-2027. 5] What was the market size of the Global Geomarketing Market in 2021? Ans. The market size of the Geomarketing Market in 2021 was valued at USD 11.2 Bn.