Geofencing is a technology that has existed for a number of years, largely limited to the dedicated tracking and fleet management markets, where individual companies developed their own proprietary geofencing solution. However, it has always been a technology on which many future-looking location-based application and advertising use cases rely on. As the key elements of these markets come together (ubiquitous, low power location, analytics, push notifications, geodata aggregation, detailed maps, etc) there is renewed interest in geofencing for consumer-orientated services.
This report looks at the adoption of geofencing across both carrier and smartphone applications. Forecasts are provided for downloads and revenues generated through the provision of geofencing services. The report pays particular attention to the retail application and push notification markets, where geofencing can unleash significant revenue potential around proximity messaging and advertising. The report also investigates the emerging Enterprise/Financial services sector, where geofencing is bringing significant RoI to companies. Analysis is provided on each of the leading companies in this space.