South Korea Geofencing Market Size & Outlook, 2023-2030

The geofencing market in South Korea is expected to reach a projected revenue of US$ 383.2 million by 2030. A compound annual growth rate of 23% is expected of South Korea geofencing market from 2024 to 2030.
Revenue, 2023 (US$M)
$89.8
Forecast, 2030 (US$M)
$383.2
CAGR, 2024 - 2030
23%
Report Coverage
South Korea

South Korea geofencing market highlights

  • The South Korea geofencing market generated a revenue of USD 89.8 million in 2023 and is expected to reach USD 383.2 million by 2030.
  • The South Korea market is expected to grow at a CAGR of 23% from 2024 to 2030.
  • In terms of segment, solution was the largest revenue generating component in 2023.
  • Services is the most lucrative component segment registering the fastest growth during the forecast period.


Geofencing market data book summary

Market revenue in 2023USD 89.8 million
Market revenue in 2030USD 383.2 million
Growth rate23% (CAGR from 2023 to 2030)
Largest segmentSolution
Fastest growing segmentServices
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationSolution, Services
Key market players worldwideApple Inc, Saksoft, Simpli.fi, Thumbvista, Gpswox, Esri, LocationSmart, Bluedot, GeoMoby, Upland Localytics, SuccorfishM2M, Visioglobe, Raveon, Urban Airship Inc, MAPCITE, MediaVision


Other key industry trends

  • In terms of revenue, South Korea accounted for 3.8% of the global geofencing market in 2023.
  • Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
  • In Asia Pacific, China geofencing market is projected to lead the regional market in terms of revenue in 2030.
  • Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 564.2 million by 2030.

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Geofencing Market Companies

Name Profile # Employees HQ Website

South Korea 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 61.92% in 2023. Horizon Databook has segmented the South Korea geofencing market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.


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Target buyers of South Korea geofencing market databook

  • Our clientele includes a mix of geofencing market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
  • 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 country-level data and insights on the South Korea geofencing market , including forecasts for subscribers. This country databook contains high-level insights into South Korea geofencing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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South Korea geofencing market size, by component, 2018-2030 (US$M)

South Korea Geofencing Market Outlook Share, 2023 & 2030 (US$M)

South Korea geofencing market size, by component, 2018-2030 (US$M)

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