The size of the worldwide geomarketing market is projected to increase from US$ 11,979.6 million in 2022 to US$ 82,840.8 million by 2032. The market is anticipated to have a CAGR of 21.3% over the course of the projected period as a result of rising demand. The following factors are responsible for the market’s growth:
Due to increased investments in digital marketing over traditional marketing and increased demand for location-based analytics, the demand for geomarketing is projected to increase.
The greater audience targeting made possible by big data, location analytics, and artificial intelligence (AI) to gather comprehensive and segregated information on potential markets increases adoption of the service.
It is projected that the market would grow as a result of rising demand for cloud services.
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Key Takeaways:
- A dearth of skilled IT professionals along with privacy issues may hamper the geomarketing market growth.
- By deployment, the cloud segment will likely grow at a CAGR of 23.7% during the forecast period.
- On the basis of the industry type, the manufacturing and resources segment will register a CAGR of 17.2% during 2022-2032.
- Rising demand for location-based solutions among retailers will drive the market in India.
- The geomarketing market in the United States will expand at a CAGR of 13.8%.
- Increasing investment in the IT sector will fuel market growth in the United Kingdom.
Market Participants of The Geomarketing Market
- IBM Corporation
- Microsoft Corporation
- Cisco Systems Inc.
- Oracle Corporation
- Adobe Inc.
- Salesforce.com Inc.
- Qualcomm
- Xtremepush
- Software AG
- MobileBridge
- Saksoft
Furthermore, owing to their ability to analyze and distribute real-time geo data, smart devices, wireless connectivity, the Internet of Things, and cloud computing have amplified traffic and generated greater demand for analytical services. Again, by improving consumer experience and using area analysis, marketers can identify potential clients and find the most beneficial ones, which further encourages enhancements in geomarketing market trends and spurs the growth of the same.
Some of the other factors such as the advantages of using geomarketing solutions like improved business productivity that produces valuable content, higher conversion rates, better management of companies to conduct business, and rising consumer interactions will bolster the growth of the target market during the forecast period.
“Adoption of geomarketing solutions enables greater client participation and ensures cost-effectiveness. This factor is expected to propel the global growth of the geomarketing market over the forecast period,” says an FMI analyst.
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Key Segments Profiled in the Geomarketing Market Survey
By Solution Type:
- Software
- Service
By Deployment Mode Type:
- Cloud
- On-premises
By Industry Type:
- Distribution Services
- Public Sector
- Finance
- Manufacturing & Resources
- Infrastructure
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
Table of Content
1. Executive Summary | Geomarketing Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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