The global Geomarketing Market is expected to grow from USD 10.7 billion in 2020 to USD 32.5 billion by 2025 at a Compound Annual Growth Rate (CAGR) of 25.0% during the forecast period. Major factors driving the growth of the market are the rising demand for cloud services, the increasing demand for location-based intelligence to enhance the business outcome, and communicate with customers, visitors, and the use of location analytics and big data to generate information about potential markets and customers.
By component, the software segment to hold a larger market size during the forecast period
The software segment is expected to hold a larger market size during the forecast period, whereas the services segment is expected to grow at a higher CAGR during the forecast period. This growth is attributed to the growing need for consulting, deployment, and integration services. Companies have started to invest in location-based marketing for increasing agility and overall operational productivity, understanding business trends in a better way and reducing operational costs.
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By service, the deployment and integration segment to hold the largest market size during the forecast period
The deployment and integration services segment is expected to hold a larger market size during the forecast period, Deployment and integration services enable the seamless integration of each geomarketing software and system, regardless of technologies. System integration provides facilities and frameworks for integrating various platforms with third-party environments. This integration enables applications to run on other platforms and make indoor location-based solutions efficiently and quickly.
Some major players profiled in the report are IBM (US), Google (US), Microsoft (US), Cisco. (US), Oracle (US), Adobe (US), Salesforce (US), Ericsson (Sweden), ESRI (US), Qualcomm (US), HERE (US), Xtremepush (Dublin), Software AG (Germany), Plot Projects (Netherlands), MobileBridge (Noor Holland), Saksoft (India), HYP3R (US), Reveal Mobile (US), Galigeo (France), Navigine (US), CleverTap (US), Airship (US), Bluedot Innovation (US), Rover (US), LocationGuru (India), Foursquare (US), Brillio (US), Purple Wifi (UK), GeoMoby (Australia), Carto (US), and Quuppa (Finland).
The geomarketing market is growing across the globe with key industry players undergoing various organic and inorganic growth strategies. The key players have undergone acquisitions and mergers to grow their product portfolios in offering efficient services to customers across various industries. The organizations have realized the benefits of moving their workloads to cloud and flexibility and scalability offered by cloud based applications, leading to drive the growth of geomarketing market.
In the geomarketing market, Google (US), as a company, identifies suitable opportunities for growth through acquisitions and new product launches, which are planned by its corporate development team, ensuring all its operations are sustainable by applying innovative technologies and business practices. Google also invests in location-based advertising for enhanced customer experience which is expected to be the company’s key focus area in the indoor location industry. Moreover, Google Maps have been upgraded with features, such as maps with indoor images and street views, enhancing its indoor location service offerings. Google is trying to grow in the geomarketing market by implementing both organic and inorganic growth strategies. In June 2020, Google acquired Pointy, to especially enable its retail customers to upload workloads on google Cloud and support their digitalization process.
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Microsoft (US) offers advanced productivity, and collaboration tools and services, including Office, Microsoft Dynamics, and LinkedIn. The company offers technology and software programs such as Microsoft 365 includes Office 365, Windows 10, and Enterprise Mobility to support the geographical visualization and analysis of the information obtained. MapPoint competes in the low-end GIS industry and incorporates Microsoft Office, Visual Basic for Applications (VBA), and Microsoft Excel, thereby permitting automation of maps. The technology is deployed into Microsoft Streets and Trips, Microsoft Auto Route, Bing Maps, and Virtual Earth Map Control. The company is uniquely positioned to become the strategic digital transformation platform and partner of choice
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