Global Active Geofencing Market 2020: This Report provides highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments, and focuses on Markets and materials, capacities and on the changing structure of the Active Geofencing. The report also presents forecasts for Global Active Geofencing Market investments from 2020 till 2025.
The Active Geofencing Market was valued at USD 565.02 million in 2019 and is expected to reach USD 2063.95 million by 2025, at a CAGR of 24.1% over the forecast period 2020- 2025. Geofencing determines the geographical boundaries using radio frequency identification (RFID) or GPS. The active type of geofencing is dependent on the end user as at any point of time it can be switched on and can be tracked using a smartphone application; whereas, passive geofence runs in the background and use the internet on cellular data or Wi-Fi.
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Retail Segment to Witness Significant Growth
– Retails are eagerly adopting digitalization in order to gain a more loyal customer base as digitalization allows them to engage their customers more efficiently and remotely. Retailers observe customers footfall as soon as they enter the geofenced area and push them with promotional notifications with this active geofencing solution to extract them.
– Automotive retailers use geofencing to keep watch on the customers taking test drives and if the customers try to exit the specified area for the immediate alert can be achieved so that quick response can be taken to avoid asset losses.
– The rise in smartphone by individuals usage globally is encouraging retails to adopt active geofencing technology as they can track even more footfalls in their geofenced region. It is observed that developing countries have better penetration of smartphone with 82% against 80% in developed countries. Also, smartphone shipments are expected to reach 2.2 billion units globally in the year 2019. Hence, the active geofencing market has growth opportunities in developing countries.
– Retailers are deploying unconventional methods like aerial unmanned drones to deliver products to their customers. For instance, Walmart has planned to deliver products in a safebox using drones rather than a doorstep. The application includes the usage of geofencing and blockchain technology for package tracking and identification.
Asia-Pacific Region to Witness Fastest Growth
– The Asia-Pacific region includes major countries like India and China, which are highly growing economies in the world. These countries have a huge presence of SMBs. Also, the government initiative like Digital India has encouraged the deployment of technologies for businesses in these countries.
– Small and medium scale business (SMBs) are adopting beacons and active geofencing technologies to connect their customers in a better way. The cost related to this technology is negligible as many beacon units are available under USD 20. The software platform needed to manage the messaging can also be developed with ease.
– The Fintech segment in the region is also on rapid growth. Many banks are adopting active geofencing to verify the locations of customers against card transactions, by which, they can ensure that transactions on customers� cards are approved and reduce the risk of fraud.
– In addition, Walmart has already entered the Indian market and the huge base of e-commerce in the region brings more opportunities for active geofencing market as Amazon and Walmart has planned to deliver products by unmanned drones.
The active geofencing market concentration is more towards consolidation with the presence of major players like Microsoft and Bluedot. As these companies allow developers to create third-party apps to support active geofencing technology, the market has a high barrier to entry.
– February 2019 – DJI, the civilian drones and aerial imaging technology provider improved its geofencing technology with the launch of its Geospatial Environment Online (GEO) 2.0 system across Europe. DJI has chosen Altitude Angel as its new partner to deliver accurate, real-time, and relevant geospatial data for airports, TFRs, and other sensitive areas in 32 European countries.
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There are 15 Chapters to deeply display the Active Geofencing Market.
Chapter 1 Market Overview
Chapter 2 Industry Chain
Chapter 3 Environmental Analysis
Chapter 4 Market Segmentation by Type
Chapter 5 Market Segmentation by Application
Chapter 6 Market Segmentation by Region
Chapter 7 Market Competitive
Chapter 8 Major Vendors
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Market Forecast (2020-2026)
Chapter 13 Marketing Strategy Analysis, Distributors/Traders
Chapter 14 Research Findings and Conclusion
Chapter 15 Appendix
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