Home > Media & Technology > Security and Surveillance > IT Security > Geofencing Market
Geofencing Market Size
- Report ID: GMI222
- Published Date: Jan 2018
- Report Format: PDF
Geofencing Market Size
Geofencing Market size was estimated at over USD 200 million in 2016 with a CAGR of over 28% from 2017 to 2024.
The rising demand for location-based services (LBS) and increasing penetration of mobile devices are expected to support the growth of the geofencing market over the forecasted timeline. There has been a notable increase in the demand for LBS over the past five years for real-time, location-based navigation and tracking and for gathering market intelligence. A steady growth of the mobility trend among enterprises operating in a diverse range of industries will also facilitate favorable adoption of geofencing market technology over the forecast period. As businesses are becoming increasingly aware about the benefits of location-based monitoring and management of mobile resources for increasing process and workforce productivity, geofencing solutions are poised to witness rapid acceptance.
| Report Attribute | Details |
|---|---|
| Base Year: | 2016 |
| Geofencing Market Size in 2016: | 200 Million (USD) |
| Forecast Period: | 2017 to 2024 |
| Forecast Period 2017 to 2024 CAGR: | 28% |
| 2024 Value Projection: | 1.7 Billion (USD) |
| Historical Data for: | 2013 to 2016 |
| No. of Pages: | 450 |
| Tables, Charts & Figures: | 1,379 |
| Segments covered: | Type, Component, Technology, Application, Deployment Model and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
The rising adoption of the technology in the transport and logistics sector along with increasing demand from the retail industry for proximity-based promotion and marketing will also accelerate the geofencing market growth between 2017 and 2024.
Frequently Asked Questions (FAQ) :
Geofencing Market Scope
