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Global Geofencing Market, 2016 – 2024

Growing application is certain sectors such as human resources, telematics, and child location service are expected to spur the market growth in the upcoming period.

Growing application is certain sectors such as human resources, telematics, and child location service are expected to spur the market growth in the upcoming period.

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<strong>Geofencing</strong> <strong>Market</strong><br />

<strong>Geofencing</strong> <strong>Market</strong>: Overview<br />

<strong>Geofencing</strong> can be defined as a virtual boundary in the geographical area in terms of<br />

RFID and GPS which triggers the software to activate a response when a mobile device<br />

leaves or enter the area. Since many years developers are taking the assistance of<br />

hardware and software to precisely locate the data related to geography.<br />

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<strong>Geofencing</strong> <strong>Market</strong>: Segmentation<br />

The global geofencing market is segmented based on various factors such as<br />

component, geofencing type, service, organization size, and vertical. Based on vertical<br />

it is segmented as transportation and logistics, industrial manufacturing, healthcare and<br />

life sciences, banking, financial services, and insurance, media and entertainment, and<br />

many others. Further based on service is segmented as support and maintenance<br />

services, consulting and advisory services, support and maintenance services, and<br />

deployment and integration services. Based on the component it is bifurcated as<br />

services and solution, while on the basis of type, it is further differentiated as mobile<br />

geofencing and fixed geofencing.

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