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Global geofencing market analysis and forecasts to 2022 scrutinized in new research

IT Market Research

The study has profiled leading developers of geofencing software, products and solutions in the competition analysis on global geofencing market. GeoMoby, Mobinius Technologies Pvt. Ltd., Localytics, Bluedot Innovation, Apple Inc., Swirl Networks, Inc., Simpli.Fi, Thumbvista, and Mapcite are key companies anticipated to remain active in expansion of global geofencing market through 2022.

Multiple advanced satellites deployed around the globe have bolstered the global network for global positioning system (GPS). Through the use of robust GPS network, penetration of GPS-enabled devices, and by employing RFID technology, a new exercise of creating virtual geographic boundaries has emerged to be identified as geofencing.

Geofencing software are enabling advertisers and marketing professionals target a specific customer base by triggering a response when the user’s mobile device arrives into or departs from a particular geographic area. According to latest study, the global market for geofencing is poised to expand at a stellar CAGR of 30.0% and generate revenues worth over US$ 2 billion by the end of 2022.