Geomarketing Market Research Report: by Component [Software (Content Management, Location Analytics, Geofencing and Reporting and Visualization) and Services (Consulting Services, Implementation and Integration Services, Support and Maintenance Services)]

9 day(s) ago

Geomarketing market is expected to grow from USD 7.89 billion in 2019 to USD 23.89 Billion by 2024 at a CAGR of 24.8% from 2019 to 2024. Key factors driving the market are increasing demand for advanced digital marketing technologies, increased adoption of big data platforms, and continuous innovation in business intelligence solutions. Geomarketing is one of the fastest emerging areas within the bigger market, Digital Marketing, where the marketing strategies are made and implemented by incorporating the location-intelligence of the target customers. Geomarketing helps businesses in delivering the right message (information related to product, promotion, price, or place) to the right customer at the right time. This market is offering huge growth opportunities for the solution providers to innovate on their offerings and meet diverse use case requirements of their clients. Although, the market is gaining significant traction in many developed countries, the limited number of retail outlets and shopping malls and use of traditional advertisement methods in many developing economies are acting as restraints to the growth of the geomarketing market.


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