Geomarketing Market Size Worth $78.9 Billion by 2031 | CAGR 21.5%
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Covid-19 scenario:
The geomarketing market witnessed stable growth during the Covid-19 pandemic due to surge in digital penetration during the lockdown period. Moreover, the strict social distancing policies and surge in adoption of work-from-home culture increased the demand for geomarketing services.
The increase in adoption of location-based services by several sectors such as transportation, manufacturing, government agencies, energy, natural resources management, and e-retail due to Covid-19 restrictions boosted the growth of the market.
During the pandemic, people become more inclined toward e-commerce, and companies focused on accelerating digital transformation. This positively affected the growth of the market.
The report segments the global geomarketing market on the basis of offering, deployment mode, enterprise size, industry vertical, and region.
Based on offering, the report is divided into software and service. The software segment held the lion’s share in 2021, accounting for nearly two-thirds of the market. However, the service segment is projected to manifest the highest CAGR of 22.5% from 2022 to 2031.
On the basis of deployment mode, the report is classified into on premise and cloud. The cloud segment is expected to register the highest CAGR of 22.5% during the forecast period. However, the on premise segment dominated the market in 2021, contributing to nearly three-fifths of the market.
Based on industry vertical, the retail and e-commerce segment held the largest share in 2021, accounting for more than one-fourth of the market. However, the automotive and transport segment is projected to showcase the highest CAGR of 24.6% during the forecast period.
On the basis of location type, the outdoor segment held the largest share in 20211, accounting for around three-fourths of the market. However, the indoor segment is estimated to manifest the highest CAGR of 22.4% from 2022 to 2031.
Based on enterprise size, the large enterprises segment held the largest share in 2021, contributing to nearly three-fourths of the market. However, the SMEs segment is expected to register the highest CAGR of 22.7% during the forecast period.
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The global geomarketing market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2021, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 23.6% during the forecast period.
The global geomarketing market includes an in-depth analysis of the prime market players such as Adobe, Cisco Systems, Inc., CleverTap, ESRI, Galigeo, Google LLC., HYP3R, Inc., IBM, Microsoft, Oracle, PlotProjects, Qualcomm Technologies, Inc., Saksoft, Salesforce, Inc., Software AG, Telefonaktiebolaget LM Ericsson, and Xtremepush.
The report analyzes these key players in the global geomarketing market. These companies have adopted several strategies including expansion, new product launches, and partnerships to increase their market penetration and maintain their foothold in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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