According the report, Higher Adoption of Location-Based Application among Consumers is one of the primary growth factors for the market. Growing Technological Advancements and Rise in the Use of Spatial Data and Analytical Tools
is also expected to contribute significantly to the Geofencing market. Overall, Transportation and Logistics
applications of Geofencing, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.
AMAs Analyst on the Global Geofencing market identified that the demand is rising in many different parts of the world as "Rising Awareness Regarding Safety and Security among Consumers
". Furthermore, some recent industry insights like "In January 2018, Bluedot Innovation had launched Bluedot Location Marketing on the Salesforce AppExchange. This has empowered businesses to connect with their customers, partners, and employees in entirely new ways." is constantly making the industry dynamic. One of the challenges that industry facing is "Lack of Uniform Regulatory Standards and Lack of Awareness, Expertise, and Other Operational Challenges"
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Geofencing market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Geofencing market and other related sub-markets covered in the study.
o Key & emerging players in the Geofencing market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Geofencing market size is calculated using market estimation process, the Geofencing market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Geofencing market size has been validated using both top-down and bottom-up approaches.