The global geomarketing market size is anticipated to be appraised at USD 82,840.8 million by 2032, up from USD 11,979.6 million in 2022. The market is expected to register a CAGR of 21.3% due to the growing demand over the forecast period. The growth in the market is ascribed to the following:
| Report Attribute | Details |
|---|---|
| Geomarketing Market Value (2022) | USD 11,979.6 million |
| Geomarketing Market Anticipated Value (2032) | USD 82,840.8 million |
| Geomarketing Projected Growth Rate (2022 to 2032) | 21.3% |
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Businesses have started switching over to digital marketing solutions from traditional ones due to the higher client engagement and affordability they provide, which are driving the industry. In addition, expanding interest in the use of location analysis and a vast amount of information to acquire individualized data about potential markets and customers is one of the factors contributing to the high growth rate.
Due to their capacity to analyze and distribute real-time geo-data, smart devices (smartphones, smart wearables, laptops), wireless connectivity, the Internet of Things, and cloud computing have increased traffic and fueled the demand for analytical services. Additionally, by enhancing the customer experience and using area analysis, marketers can identify even more of these clients and find the most advantageous ones, which spurs improvements in geomarketing market trends.
The market has grown as brands increasingly rely on location-based service providers to ascertain client requirements, confirm customer requirements, and ensure that their products are on par with competitors. In addition, businesses use automation, advanced analytics, and location-based technologies to develop highly customized consumer experiences, foster brand loyalty, and lower churn rates as a result of fierce competition.
Suppliers of geomarketing solutions are keeping up with their cost-effective technical advancement and investing in engaging clients at a time of panic buying and the stay-at-home mentality on a global scale. By applying advertising and marketing tactics through digital media, firms can assist customers' access to technology and infrastructure, preventing productivity decreases at least.
The primary factors driving a rise in the use of geomarketing solutions are the providers' new and innovative business continuity solutions, which have advantages and benefits like increased business productivity to produce valuable content, higher conversion rates, and management of companies to conduct business.
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The statistics accumulated by Future Market Insights reveal the global geomarketing market, has witnessed an unprecedented surge over the past few years. The key providers in the market are in conjunction with the increasing demand for geomarketing. There has been a gradual rise from a CAGR of 19.5% registered from 2022 to 2032, and it is likely to expand at a steady 21.3% in the forecast period.
In the previous five years, the geomarketing market has historically expanded by 20% to 22% internationally. Globally, the expected market size for geomarketing in 2022 ranged from USD10 billion to $12 billion. Geomarketing was a wonder among desktop users, but when portable devices (smartphones, tablets, etc.) suddenly became popular, marketing companies had to adjust to how individuals conducted internet searches. However, this kind of advertising discovered that the GPS was the ideal instrument for producing relevant adverts in connection to precise locations and general client preferences.
The demand for geomarketing is anticipated to grow since it offers a variety of data and information that can be utilized to recognize potential customers and employ marketing strategies to convert them into paying customers. Additionally, geomarketing offers a means of overcoming the difficulties experienced by Communication Service Providers which contributes to the growth of the market.
Location-based services have drawn a lot of attention from a variety of industries, including government, telecommunications, transportation, and retail, and they have given businesses the ability to provide promotional services based on the preferences and vicinity of customers. Furthermore, businesses can save time and improve the effectiveness of internal processes by utilizing cloud-based technologies which contribute to the global geomarketing market growth.
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Customers and suppliers may be concerned about the rate at which cyberattacks are growing because of privacy issues and the potential of identity theft rise whenever firms begin to develop data profiles, especially if the information is not retained. . This may limit the market's ability to expand. Furthermore, a lack of IT skills or qualified professionals may further hinder the market growth.
On the contrary, during the projection period, it is anticipated that the rising demand for mobile computing and social media use would present lucrative chances for market development. Moreover, the rising use of cutting-edge technology has boosted device connectivity, which has enhanced data availability on things like retail consumer behavior, real-time marketing research, etc., which may open up new options in the future.
By deployment mode type, the market is segmented into cloud and on-premises geomarketing solutions. It has been studied by the analysts at Future Market Insights that the cloud segment is estimated to hold a major market share, recording a CAGR of 23.7% through the forecast period.
The pivotal aspects determining the momentum of this segment are:
By industry type, the market is segmented into distribution services, finance, public sector, manufacturing & resources, and infrastructure. It has been studied by the analysts at Future Market Insights that the manufacturing & resources segment is estimated to hold a major market share, recording a CAGR of 17.2% through the forecast period.
The vital elements determining the momentum of this segment are:
North America holds a significant share of the geomarketing market, growing at a significant CAGR of 15.1%. Of this, the USA is the most profitable region with a notable CAGR of 13.8%. This is attributed to the presence of several significant vendors in the region, increasing IT spending, and acceptance of advanced and innovative technologies. Moreover, the region’s market growth is further attributed to the high adoption of IoT technologies.
The demand for geomarketing in the USA is likely to rise with the deployment of the latest 5G-enabled smartphones with high-speed data and location accuracy. Furthermore, businesses target individual clients by distributing and customizing advertisements and notifications in real-time, which is likely to contribute to global market growth.
To help companies devise their marketing strategies and campaigns, key companies have been involved in investments to develop geomarketing software tools that use location-based information. Moreover, these aid end-user organizations display and organizing data using digital mapping to analyze this data by a particular physical location. For instance, a certain key player uses PTV server developer components for marketing, geographical, and logistical functions. These factors are estimated to propel the adoption of geomarketing.
Most of the key market players are experts in market analytics and geo-intelligence and are efficient in developing projects that use geographic dimensions to improve business decisions. Additionally, they also develop new analysis methods about the potency of the demand and become partners of their customers in the processes of network sale expansion, evolution, and communication of their offer. Additionally, they build new demand analysis methods and become clients' partners in the processes of network selling extension, evolution, and communication of their product.
Europe holds the second largest share of the geomarketing market with a revenue share of 16.4%. This is owing to the presence of key market players in the region. Moreover, heavy investments in the IT sector are further expected to surge the market growth. In addition, the implementation of ground-breaking technologies in the area of market development is likely to propel the adoption of geomarketing.
Key players in assisting their end users in choosing the foothold of their sales location by providing them with a targeted strategy. They encourage the end users to use geomarketing software, to collect commercial information related to geolocation. Furthermore, key players also offer immediate access to mobile app data, as their team streamlines location data management to save end users time and money. These factors enable the growth of the geomarketing market share.
A certain key player’s enterprise dashboards include 24/7 access to the UK’s daily mobile location data. Moreover, their platforms combine superior mobile data with intuitive premium analytics tools and allow people to facilitate the making of detailed insights. Through this, customers can simply select their location of choice and their dashboards present them with a detailed visitor profile of their selection.
Germany is a remunerative geomarketing market with a CAGR of 17.8%. This is owing to mergers and partnerships between key players which help supplement geo data with official data for 22.5 Mn buildings with accurate information. Furthermore, financial institutions are capitalizing by delivering services and products tailored to customers based on location, which has led to the collaboration of many BFSI organizations with IT providers.
Key players in Germany are using geomarketing software to distribute advertisements in a more targeted fashion. Moreover, they have a team of experts for geomarketing who abstract the real position of end users and provide them with a better option for both business and research purposes. Additionally, they keep a detailed track record to satisfy their customers availing the geomarketing services which surge demand for geomarketing.
Top players also offer a differentiated media management portfolio in their capacity as leading specialist media agencies for printed advertising. Moreover, they optimize the delivery and distribution of concerning advertising to households, using geomarketing. Their customer-oriented media planning concentrates on return on media investment, response, and coverage.
Market players also involve themselves in continuous innovations to offer new solutions to their end users. They do this with the analysts in their geomarketing unit and the use of the latest media technologies which aids them in developing various approaches for their customers even in challenging projects in the space of direct mail. This is likely to expand the global geomarketing market size.
India is a prospective geomarketing market, growing at a profit of 24.1%. This lucrative growth is attributed to the increasing retail and e-commerce sectors and collective digitalization which are estimated to advance the geomarketing market, especially in the Asia Pacific region. Moreover, the market growth is further owing to the rise in popularity of location-based solutions amongst retailers, transportation services, etc. in the region.
Key players in India help to analyze and integrate all the data from across a company’s data silos to develop efficient sales and marketing strategies and to acquire deeper insights into how different business processes affect one another. Furthermore, they maintain excellent customer relationships through targeted communication, along with relevant and profitable marketing actions. They further possess an effective organization, team responsiveness, and cost optimization with balanced sales territories.
Start-up companies are implementing innovations or improving the current scenario, to transform the geomarketing landscape:
The key market players are coming up with different solutions for a seamless user experience for both personal use, as well as business. With the growing advent of technology and social media saturation, market players are constantly coming up with newer innovations that are anticipated to keep the demand for geomarketing fastened, in the market.
Top 5 Players of the Geomarketing Market:
Recent advancements in the geomarketing market are:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 21.3 from 2022 to 2032 |
| Base Year of Estimation | 2022 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and Volume in Units and F-CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | By Solution Type, By Deployment Mode, By Industry, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East & Africa; Oceania |
| Key Countries Profiled | The United States of America, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | IBM Corporation; Microsoft Corporation; Cisco Systems Inc.; Oracle Corporation; Adobe Inc.; Salesforce.com Inc.; Qualcomm; Xtremepush; Software AG; MobileBridge; Saksoft |
| Customization & Pricing | Available upon Request |
The global geomarketing market is valued at USD 11,979.6 million in 2022.
The geomarketing market is projected to accumulate a CAGR of 21.3% during the forecast period.
Risk of identity theft increase owing to compiling of data profiles, particularly if the information is not secured.
By 2032, the market is likely to grow to a revenue of USD 82,840.8 million.
The U.S. is predicted to dominate the global geomarketing market by 2032.
1. Executive Summary | Geomarketing Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Solution 5.1. Software 5.2. Services 5.2.1. Support & Maintenance 5.2.2. Integration & Implementation 5.2.3. Consulting Services 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Deployment Mode 6.1. Cloud 6.2. On-Premises 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Industry 7.1. Healthcare 7.2. Education 7.3. Retail 7.4. Telecom & IT 7.5. Media & Entertainment 7.6. BFSI 7.7. Others 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. IBM Corporation 18.2. Microsoft Corporation 18.3. Cisco Systems, Inc. 18.4. Oracle Corporation 18.5. Adobe Inc. 18.6. Salesforce.com, Inc. 18.7. Qualcomm 18.8. Xtremepush 18.9. Software AG 18.10. MobileBridge 18.11. Saksoft 18.12. Others 19. Assumptions & Acronyms Used 20. Research Methodology
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Geomarketing Market
