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Geofencing Market size anticipated to exceed USD 500 million by 2023

Global IoT market size was valued at over USD 600 billion in 2015. U.S. geofencing market share is predicted to continue its dominance over the next seven years. Asia Pacific is expected to witness substantial growth owing to rapid urbanization.

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Geofencing Market size anticipated to exceed USD 500 million by 2023

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  1. Geofencing Market size anticipated to exceed USD 500 million by 2023: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024 Low Power Wide Area Network

  2. Regional Analysis of Geofencing Market : • U.S. geofencing market share is predicted to continue its dominance over the next seven years. • Asia Pacific is expected to witness substantial growth owing to rapid urbanization. • It aids in defining geographical boundaries by using RFID (radio frequency identification) and GPS (global positioning system). The industry includes low power location, analytics, geodata aggregation, detailed maps and push notifications.

  3. Application Analysis of Geofencing Market: • Increasing application in numerous sectors such as human resources, telematics and child location services is predicted to drive the industry over the forecast period. • The industry is also expected to be favored by increased demand for the Internet of Things (IoT). • Availability of low-cost developers is likely to expand the technology beyond traditional location-based applications and act as the backbone of a host of new applications and services

  4. Competitive Market Share of Geofencing Market : • Rising awareness regarding safety and security among consumers may hinder the geofencing market size development. Hence, customers are now moving towards permission marketing, which is anticipated to replace interruption-based marketing models. • Small fences are predicted to be more successful in drawing people to store locations. • Major industry participants include Microsoft, Google, Apple, Samsung, Qualcomm, and IBM.

  5. Browse Full Market Research Report On Geofencing Market @ https://www.gminsights.com/industry-analysis/geofencing-market- Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/222

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