Active Geofencing Global Market By By Component Type, By Enterprise Type, By Geofencing Type, By Technology, By End User, By Regional Forecast 2024-2033 | Apple Inc., Google LLC, Cisco Systems Inc., Oracle Corporation, Radar Labs Inc.

Active Geofencing Market

Overview and Scope
Active geofencing is a location-based technology that establishes virtual barriers or ‘geofences’ around certain geographic locations that trigger specific actions or notifications when a mobile device or asset enters or exits the defined area in real-time. This form of geofencing allows operators to push ads or customize messages directly to users when a device enters a specific geographical area.

Sizing and Forecast
The active geofencing market size has grown exponentially in recent years. It will grow from $1.46 billion in 2023 to $1.77 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The growth in the historic period can be attributed to increasing smartphone penetration, rising demand for personalized marketing strategies, growth of location-based services (LBS), demand for real-time consumer engagement, expanding use of data analytics in marketing.

The active geofencing market size is expected to see exponential growth in the next few years. It will grow to $3.88 billion in 2028 at a compound annual growth rate (CAGR) of 21.7%. The growth in the forecast period can be attributed to expansion of smart city initiatives, rise in mobile commerce transactions, increasing focus on hyper-local marketing, demand for contactless retail experiences, growth of location-based gaming. Major trends in the forecast period include hyper-personalized marketing campaigns, virtual geofencing for remote engagement, geofencing in supply chain management, integration of geofencing with voice assistants and smart speakers.

To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/active-geofencing-global-market-report

Segmentation & Regional Insights
The active geofencing market covered in this report is segmented –
1) By Type: Fixed, Mobile
2) By Component: Hardware, Services, Software
3) By Communication Technology: Cellular, Global Positioning System (GPS), Radio Frequency Identification (RFID), Wireless Fidelity (Wi-Fi)
4) By Organization Size: Large-Scale Businesses, Small-Scale And Medium-Scale Businesses
5) By End-User Industry: Banking Financial Services And Insurance, Retail, Defense, Government And Military, Healthcare, Industrial Manufacturing, Transportation And Logistics, Other End-User Industries

North America was the largest region in the active geofencing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the active geofencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14628&type=smp

Major Driver Impacting Market Growth
The growing adoption of mobile devices is expected to propel the growth of the active geofencing market going forward. A mobile device refers to a portable electronic gadget designed for wireless communication and transmitting data wirelessly. Mobile device adoption is growing due to increased 4G LTE and 5G proliferation, e-commerce growth, and increased affordability, making them accessible to more people globally. Mobile devices are useful for active geofencing, providing accurate location data, facilitating instant communication, and offering a user-friendly interface for interaction with the geofencing system. For instance, in February 2022, according to a report published by the GSM (Global System for Mobile Communications) Association, a UK-based non-profit organization, the global count of mobile service subscriptions reached 5.3 billion by the end of 2021, with projections indicating an additional 400 million new subscribers are expected by 2025. Therefore, the growing adoption of mobile devices is driving the growth of the active geofencing market.

Key Industry Players
Major companies operating in the active geofencing market are Apple Inc., Google LLC, Samsung Electronics Co., Microsoft Corporation, AT&T Inc., Intel Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Qualcomm Incorporated, Salesforce Inc., Nokia Corporation, SZ DJI Technology Co., Esri, Upland Software Inc., Simpli.fi, Bluedot Innovation Pty Ltd, Infillion PaeDae Inc., Radar Labs Inc., Pulsate Ltd., tado GmbH, Aware360 Ltd., LocationSmart, Mapcite, mSpy

The active geofencing market report table of contents includes:
1. Executive Summary