IoT-powered geofencing enables a customizable creation of virtual boundaries manually and displays all the assets assigned in particular geofenced regions. It allows you to single-handedly manage multiple assets through one dashboard along with monitoring all the alerts associated with the assets.
The user can set virtual perimeters in real-world scenarios with the help of geofencing that allows proper supervision of the assets within the fenced area. Therefore, it becomes easier to
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Define a particular radius area on the map
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Gain real-time alerts region-wise
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Ensure the safety and security of the asset
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Discourage any unwanted activities remotely
Hence, geofencing has become the most popular application among the industries.
MarketsandMarkets forecasts the global geofencing market size to grow from USD 542.7 Million in 2017 to USD 1,825.3 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 27.5%.Browse 62 Market Data Tables and 38 Figures spread through 145 Pages and in-depth TOC on "Geofencing Market by Component (Solution and Services), Geofencing Type (Fixed and Mobile), Organization Size, Vertical (Transportation & Logistics, Government & Defense, Retail, Healthcare & Life Sciences), and Region - Global Forecast to 2022"Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209129830The deployment and integration services segment is expected to have the largest market size in the geofencing market during the forecast period.Deployment and integration are important stages in the implementation of the geofencing technology for various industry verticals.
Geofencing solutions can be integrated with the existing systems, and the integration requires an exact level of system integrators and system enablers.
It is necessary for the enterprises to create a safe environment for geofencing, as it is used for tracking users and sending push notifications.The government and defense vertical is estimated to have the second largest market size in 2017.The government and defense vertical includes various applications of the geofencing technology, such as marine defense, drone management, airforce defense, military vehicle management, law enforcement, and geographic event alerts.
Geofencing solutions help in marine defense by creating multiple geofences over the water bodies, thereby assisting in avoiding malicious intrusions in the restricted areas.
Additionally, geofencing helps create virtual fences over the designated areas to keep the drones away.
This autopilot software continually calculates the distance between the destinations and also ensures the drones do not fly over any restricted zone.North America is expected to have the largest market share in the geofencing market during the forecast period.North America is expected to have the largest market share and dominate the geofencing market during the forecast period.
The geofencing market is projected to grow at a CAGR of 27% during the forecast period.
As per the geofencing market research report, the global market for geofencing is projected to grow swiftly by US$2,387 million by 2023.
The limited technological advancements along with lack of awareness are the elements that could influence the geofencing market advancement throughout the forecast period.
The geofencing market research report by expert analysts is developed to assist organizations in the geofencing market.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/4490 Competitive LandscapeEase of integration and deployment is presumed to drive the geofencing market growth worldwide.
Furthermore, the global geofencing market report offers an all-inclusive analysis of the market collected from the geofencing market’s primary and secondary sources covering both decision makers and thought leaders.
