Geofencing is a virtual boundary in the geographical area that employs RFID and GPS which triggers the software to activate a response when a mobile device leaves or enters the area. It consists of software programs that are executed using data from the GPS or RFID. It allows an administrator who has set up the geo-fencing to set up the triggers for events.
Higher Adoption of Location-Based Application among Consumers
Market Growth Drivers:
Growing Technological Advancements and Rise in the Use of Spatial Data and Analytical Tools and Increasing Applications of Geofencing in Numerous Industry Sectors
Lack of Uniform Regulatory Standards and Lack of Awareness, Expertise, and Other Operational Challenges
The key Players profiled in the report are Apple Inc. (United States), Bluedot Innovation (United States), Esri (United States), Factual Inc. (United States), GeoMoby (Australia), Gpswox.com (United Kingdom), InVisage (United States), Localytics (United States), LocationSmart (United States) and MAPCITE (United Kingdom). Additionally, other players that are of this comprehensive study are Maven Systems (India), Mobinius Technologies (India), MobiOcean Mobility Software Solutions (India), Nisos Technologies (United States), Plot Projects (Netherlands) and Pulsate (United States).