According to the report by Expert Market Research (EMR), the Global Geomarketing Market Size is projected to grow at a CAGR of 24.9% between 2023 and 2028. Aided by the expanding digital transformation across businesses and the increasing usage of location-based services, the market is expected to grow significantly by 2028.
Geomarketing is the integration of geographical intelligence into various aspects of marketing, including sales and distribution. It leverages geographic data, allowing businesses to optimise their advertising and promotional efforts based on the physical location of their target audience. This approach provides a more personalised and relevant customer experience, which in turn enhances customer loyalty and drives sales.
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The increasing digitisation across businesses is propelling the global geomarketing market growth. With the rise in e-commerce and online marketing activities, businesses are leveraging geomarketing solutions to engage customers more effectively and offer personalised experiences. Geomarketing tools like geo-fencing and geo-targeting are used by businesses to deliver location-specific advertisements, helping them gain an edge over their competitors.
The surging adoption of location-based services is another key factor driving the global geomarketing market growth. With the prevalence of GPS-enabled smartphones and tablets, businesses are using location-based data to understand consumer behaviour and patterns better. This information is used to create highly targeted marketing campaigns, enhancing the effectiveness of their marketing strategies.
The wide-ranging applications of geomarketing across various sectors further fuels the geomarketing market expansion. In the retail sector, geomarketing is used to analyse consumer shopping behaviour and optimise store layouts. In the real estate sector, it assists in property valuation and market segmentation. Even in public services like urban planning and environmental management, geomarketing plays a crucial role.
Moreover, the rise in big data analytics has amplified the demand for geomarketing. By combining geographic data with big data, businesses can gain actionable insights into market trends, customer preferences, and competitive landscape. This data-driven decision-making enhances operational efficiency and profitability, thereby stimulating the geomarketing market expansion.
Furthermore, the growth of the Internet of Things (IoT) and smart cities is expected to open new opportunities for the geomarketing market. With connected devices and smart infrastructure, the collection and analysis of location data can be further enhanced, providing businesses with more precise and real-time marketing capabilities.
Geomarketing Market Segmentation
The market can be divided based on component, service, location type, deployment mode, organisation size, vertical, and region.
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Market Breakup by Component
- Software
- Services
Market Breakup by Service
- Advisory and Consulting
- Deployment and Integration
- Support and Maintenance
Market Breakup by Location Type
- Indoor
- Outdoor
Market Breakup by Deployment Mode
- Cloud
- On-Premise
Market Breakup by Organisation Size
- Large Enterprises
- Small and Medium Sized Enterprises
Market Breakup by Vertical
- Retail and E-Commerce
- Healthcare and Life Sciences
- Travel and Hospitality
- Banking, Financial Services and Insurance
- Media and Entertainment
- Telecommunication and IT
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global geomarketing companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Google LLC
- Microsoft Corporation
- International Business Machines Corporation
- Cisco Systems, Inc.
- Oracle Corporation
- Others
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