Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on geomarketing market provides an in-depth analysis of
segments and sub-segments in the global as well as regional geomarketing
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional geomarketing market over the short term
as well as long term. The report is a comprehensive presentation of trends,
forecasts, and dollar values of the global geomarketing market. According to the
report, the global geomarketing market is projected to grow at a CAGR of 22.0%
over the forecast period of 2020-2026.
Geomarketing is a discipline that
connects geographic apprehension and analysis with marketing techniques and
insight. It is the technology of marketing research for management
decision-making using spatial data. This allows considering the dynamics and
development trends to predict competitive behavior. It is the cornerstone of
successful businesses in this age of digitalization and quickly changing
markets. Today the geomarketing is a component in decision-making in business
management. It takes into account the spatial component in decision-making,
which is a derivative of marketing.
All businesses need to know where
their best customers are located, and how much disposable income their target
groups possess, and how far any given customer must travel to the nearest sales
or service point. A successful market optimization depends upon utilizing all
resources to their full advantage particularly with regard to sales. The marketing software application can
calculate and display the population figures, household numbers, and many other
details for these zones. After using this approach to arrive at the number of
potential customers will have a solid foundation for accurately assessing
target groups, growth potential, and marketing budget. The benefit of marketing
lies not simply in coming up with accurate numbers, but also in the ability to
illustrate these results on digital maps. Growing demand for location-based
intelligence and digital maps are driving the demand for the geomarketing market.
Digital maps reveal the regional profile that delivered the highest response
rates. The maps can provide a digital snapshot of the response rates and target
group locations at any point in the process, making them an ideal reference
point to pass on to management. It also facilitates better decision-making by
analyses visualized on digital maps. Additionally, growing investment in
digital marketing over traditional marketing practices provides a growing
demand for the market. However, data privacy threats in the process of
geomarketing are affecting the growth of the market. Moreover, advancement in
connected devices provides a significant growth opportunity for the market.
The Asia Pacific region holds the
largest market share in the geomarketing market. Asia-Pacific is the world
leader in terms of the number of shipped location-based services devices(LBS).
In 2016, almost 1 billion location-based devices were shipped from this region.
Furthermore, government initiatives in formulating the national spatial data
infrastructure play a crucial role in regulating the market with respect to the
use of geospatial data. The geospatial industry in China has been growing by
leaps and bounds, mainly due to domestic demand and government support. This is
evident from the fact that the average annual growth of the geospatial industry
in China is over 25%. The growth of GIS in North America and Western Europe is
driven by national governments to build geospatial datasets. This support later
included funding for the geospatial systems within states and provinces as well
as at the local government level. This availability of funding created the
demand for geospatial systems and services and that in turn created a growth
opportunity for the geomarketing industry in this region.
The report on the global geomarketing
market covers segments such as component, location, deployment mode, and
organization size. On the basis of component, the sub-markets include software,
and services. On the basis of location, the sub-markets include indoor and
outdoor. On the basis of deployment mode, the sub-markets include cloud, and
on-premises. On the basis of organization size, the sub-markets include large
enterprises, and SMEs.
The report provides profiles of
the companies in the market such as IBM Corp, Google Inc, HERE, Cisco Systems,
Inc., Salesforce, Inc., ESRI, Software AG, Microsoft Corp, Oracle Corporation,
and Adobe Inc.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of geomarketing market. Moreover, the study highlights current market
trends and provides forecasts from 2020-2026. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.
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