Global Geofencing Market Size & Outlook, 2023-2030
Global geofencing market, 2018-2030 (US$M)
Related Markets
Global geofencing market highlights
- The global geofencing market generated a revenue of USD 2,372.4 million in 2023 and is expected to reach USD 9,357.4 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 21.7% by 2030.
- In terms of segment, solution accounted for a revenue of USD 1,425.3 million in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 2,372.4 million |
| Market revenue in 2030 | USD 9,357.4 million |
| Growth rate | 21.7% (CAGR from 2023 to 2030) |
| Largest segment | Solution |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solution, Services |
Other key industry trends
- In terms of revenue, the North America accounted for 34.1% of the global geofencing market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, UAE is the fastest growing regional market and is projected to reach USD 151.3 million by 2030.
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Geofencing Market Scope
Geofencing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global geofencing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to geofencing market will help companies and investors design strategic landscapes.
Solution was the largest segment with a revenue share of 60.08% in 2023. Horizon Databook has segmented the Global geofencing market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Geofencing Component Outlook (Revenue, USD Million, 2018-2030)
- Solution
- Services
- Type & Integration services
- Support & Maintenance services
- Consulting & Advisory services
- API Management & Testing services
- Global Geofencing Technology Outlook (Revenue, USD Million, 2018-2030)
- Active Geofencing
- Passive Geofencing
- Global Geofencing Type Outlook (Revenue, USD Million, 2018-2030)
- Fixed Geofencing
- Mobile Geofencing
- Global Geofencing Organization Size Outlook (Revenue, USD Million, 2018-2030)
- Small And Medium-Sized Enterprises
- Large Enterprises
- Global Geofencing Industry Vertical Outlook (Revenue, USD Million, 2018-2030)
- Transportation And Logistics
- Retail
- Healthcare And Life Sciences
- Industrial Manufacturing
- Media And Entertainment
- Government And Defense
- BFSI
- Others
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Target buyers of Global geofencing market databook
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Our clientele includes a mix of geofencing market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global geofencing market , including forecasts for subscribers. This global databook contains high-level insights into Global geofencing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global geofencing market size, by regions, 2018-2030 (US$M)
Top 10 countries: Geofencing market size, 2023 (US$M)
Global geofencing market share, by component, 2023 & 2030 (%, US$M)
Geofencing market: Opportunity assessment by country
Global geofencing market, by region, 2023 (US$M)
| Component | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 283.2 | 341.1 | 459.3 | 543.1 | 662.9 | 809.4 | 988.1 | 1,204.9 | 1,469.1 | 1,790.9 | 2,181.7 | 2,657.9 | 3,237.7 | 21.9% |
| Europe | 195.6 | 233.3 | 311.1 | 364.3 | 440.4 | 532.3 | 643.4 | 776.8 | 937.7 | 1,131.6 | 1,364.6 | 1,645.4 | 1,983.8 | 20.7% |
| Asia Pacific | 217.5 | 265.9 | 363.2 | 435.6 | 539.2 | 667.4 | 825.7 | 1,020.4 | 1,260.3 | 1,556.2 | 1,919.7 | 2,367.8 | 2,919.5 | 23.5% |
| Latin America | 64.3 | 76.0 | 100.3 | 116.3 | 139.2 | 166.4 | 199.0 | 237.6 | 283.5 | 338.1 | 402.8 | 479.6 | 570.8 | 19.3% |
| MEA | 78.0 | 91.7 | 120.6 | 139.1 | 165.5 | 196.9 | 234.1 | 277.9 | 329.6 | 390.5 | 462.2 | 546.5 | 645.7 | 18.5% |
| Overall | 838.7 | 1,008.1 | 1,354.6 | 1,598.4 | 1,947.2 | 2,372.4 | 2,890.3 | 3,517.5 | 4,280.1 | 5,207.2 | 6,330.9 | 7,697.1 | 9,357.4 | 21.7% |
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