Geofencing Market — Moderate Penetration in Unlicensed Low Power Technology Networks

Multiple advanced satellites deployed around the globe have bolstered the global network for global positioning system (GPS). Through the use of robust GPS network, penetration of GPS-enabled devices, and by employing RFID technology, a new exercise of creating virtual geographic boundaries has emerged to be identified as geofencing. Geofencing software are enabling advertisers and marketing professionals target a specific customer base by triggering a response when the user’s mobile device arrives into or departs from a particular geographic area.

According to Transparency Market Research’s latest study, the global market for geofencing is poised to expand at a stellar CAGR of 30.0% and generate revenues worth over US$ 2 billion by the end of 2022. The study has analyzed a range of entities encompassing theexpansion of global geofencing market for the forecast period, 2017-2022. 
Considering the importance of strong networks in enabling the proper function of geofencing solutions, majority of end-users and software developer are focusing on cellular networks for deployment. Cellular networks has established framework, and are supported by regional governments.


In the view that these networks are licensed, geofencing operations can be carried out effectively through the robust infrastructure provided by cellular networks. In 2017, over four-fifth of the revenues procured in the global geofencing market are anticipated to be accounted by the cellular networks. Meanwhile, unlicensed low power technology networks are failing to gain robust traction in the global geofencing market. 

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