The global geomarketing market accounted for a value of USD 9.3 billion in 2019 and is projected to register growth at a CAGR of 27.9% during forecast period.
COVID-19 has impacted the geomarketing market. The sales from physical stores have been shifted to digitals sales due to outbreak of corona virus around the globe. This leads to large scale data usage by consumers from various sectors. The technology enhancement and investment is increasing by organizations to engage customer in times of panic buying and follow stay at home guidelines. Organizations have succeeded in providing all the essential infrastructure and technology to support the customers by adopting marketing and advertising strategies by using digital media. This leads to growth of geomarketing during outbreak of corona virus.
For more details, visit: Global Geomarketing Market By Deployment Mode (Cloud & On-premises), By Component (Software & Services), By Organization Size (SMEs & Large Enterprises), By End-Users (BFSI, Others), By Region, Forecast & Opportunities to 2026
The demand for cloud services is increasing rapidly around the world. The adoption of location based intelligence services is widely increasing among various verticals such retails, ecommerce, BFSI, travel and others as it helps in enhancing businesses outcome. It enables organizations to communicate with visitors and customers. Thus, drives growth in geomarketing market during forecast period.
On the basis of deployment mode, the geomarketing market is segmented into cloud and on-premises. The cloud deployment segment is estimated to register growth at highest CAGR during forecast period. The organizations are widely deploying geomarketing software and applications. The location based analytics is widely adopted in the various organizations. It provides flexibility and very convenient. The demand for cloud based geomarketing is increasing and this drives growth in cloud deployment mode segment during forecast period.
On the basis of component, the geomarketing market is segmented into software and services. The software segment is estimated to hold largest market share during forecast period. The need for consulting, integration and deployment services are increasing around the world. The organizations are investing largely in location based marketing as it increases agility and operational productivity. This increases growth in software segment during forecast period.
Asia-Pacific region is estimated to register growth at highest CAGR during forecast period. The population of this region is very high in the world and many Asian countries such as New Zealand, China, Japan, Australia and India are adopting this technology widely. The adoption of geomarketing is increasing rapidly in this region and this drives growth in Asia-Pacific region during forecast period.
The key market players in geomarketing industry are Google, Microsoft, UBM, Cisco, Oracle, Adobe, Salesforce, ESRI, Software AG, Ericsson, Qualcomm, HERE, Xtremepush, Rover, Reveal Mobile and Mobilebridge.
- What are the expected industry trends over the next three to five years?
- Which of the geomarketing component is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?