Futuristic background of Global business network, internet, Globalization concept
Overview and Scope
Geomarketing is a branch of marketing that makes use of user location data to structure marketing initiatives, employing digital mapping to organize and visualize data for assessment and decision-making. It is used to specifically target consumers in predetermined geographic areas to market goods or services
Sizing and Forecast
The geomarketing market size has grown exponentially in recent years. It will grow from $17.18 billion in 2023 to $21.34 billion in 2024 at a compound annual growth rate (CAGR) of 24.2%. The growth in the historic period can be attributed to data analytics, location-based services, e-commerce growth, retail expansion
The geomarketing market size is expected to see exponential growth in the next few years. It will grow to $50.16 billion in 2028 at a compound annual growth rate (CAGR) of 23.8%. The growth in the forecast period can be attributed to iot and connected devices, geomarketing personalization, indoor geomarketing, ethical and transparent practices. Major trends in the forecast period include big data and ai, augmented reality (ar) and virtual reality (vr), data visualization.
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Segmentation & Regional Insights
The geomarketing market covered in this report is segmented –
1) By Solution: Software; Service
2) By Deployment Mode: Cloud; On-Premises
3) By Location: Indoor; Outdoor
4) By Verticals: Retail And E-Commerce; Healthcare And Life Sciences; Travel And Hospitality; Banking, Financial Services And Insurance; Media And Entertainment; Telecommunication And IT; Other Verticals
North America was the largest region in the geomarketing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in geomarketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing demand for personalized marketing is expected to boost the growth of the geomarketing market going forward. Personalized marketing is a marketing strategy targeting current or potential clients with customized messaging and product offers using data analysis and digital technologies. The ability to target clients depending on their location makes geomarketing necessary for personalized marketing. For instance, in May 2022, according to a survey of over 13,000 consumers and nearly 4,000 business buyers by Salesforce Inc., a US-based cloud-based software, around 73% of customers expect the companies to understand their unique needs and expectations and 61% of customers are happy with businesses using their personal information beneficially and transparently. Therefore, the growing demand for personalized marketing is driving the growth of the geomarketing market.
Key Industry Players
Major players in the geomarketing market are Microsoft Corporation, Google LLC, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Inc., Oracle Corporation, Salesforce Inc., Ericsson Inc., Adobe Inc., Software AG, GroundTruth, CleverTap, Airship, Saksoft Ltd., Bluedot Innovation Inc., Xtremepush Limited, Cuebiq Inc., Hyp3r Inc., MobileBridge, PlaceIQ Inc., Gimbal Inc., Reveal Mobile Inc., Ubimo Ltd., Cloud4Wi Inc., Plot Projects, Navigine Corp, LocationSmart, Galigeo, ESRI Business Information Solutions Inc., Flame Analytics S.L.
The geomarketing market report table of contents includes:
1. Executive Summary
2. Geomarketing Market Characteristics
3. Geomarketing Market Trends And Strategies
4. Geomarketing Market – Macro Economic Scenario
5. Global Geomarketing Market Size and Growth
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26. South America Geomarketing Market
27. Brazil Geomarketing Market
28. Middle East Geomarketing Market
29. Africa Geomarketing Market
30. Geomarketing Market Competitive Landscape And Company Profiles
Top Major Players:
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