Geofencing software is defined as generating a virtual boundary around a fixed or moving object, in which a device, individual, or asset can be tracked, monitored, and detected if the boundary is violated. Geofencing solutions create and track virtual boundaries. They use Global Positioning System (GPS), Radio Frequency Identification (RFID), and Wi-Fi technology, along with dedicated software to track equipment and people. The geofencing software market includes fixed and mobile geofencing users in various verticals. 360Quadrants has identified top 10 vendors in the Geofencing Market, below:
Top 10 Geofencing Solution Companies
- Maven Systems
Top Geofencing Features
Geofencing software helps businesses by creating and monitoring virtual fences. These solutions leverage GPS, RFID, and Wi-Fi technology, along with the software to track assets and people. Some of the main features of the geofencing solutions include:
- Battery Optimization
- Location Triggers
- Security Compliance
- Campaign Automation
- Battery Life
- Location Data Collection
- Anti-spam Tools
Top 10 New Entrants
These new entrants are the firms that have a great understanding of the latest technologies and trends, right from their inception. These companies may not be so widespread geographically, but they have offerings. These vendors are generally the ones who are beginning to emerge in terms of product portfolio and geographical coverage, and will need some time to gain traction in the market. Some of the emerging new entrants are:
- Raveon Technologies
- Urban Airship
- Nisos Technologies
The geofencing services market is segmented into deployment and integration services, support and maintenance services, consulting and advisory services, and API management and testing services. Geofencing services are provided by the service vendors during the pre, post, and installation phases of various industry applications. These services help in driving the productivity and efficiency of business processes to build a time-efficient geofencing system. These support services are essential and are required for the effective functioning of the business processes. There is an increase in the integration of the geofencing applications provided by third-party vendors across a multitude of verticals, influencing the overall growth of the geofencing market.
Deployment and integration services are used mainly for the implementation of geofencing in various industry verticals. Support and maintenance services provide 24/7 support to geofencing applications. Consulting and advisory services play a significant role in the geofencing software market, as enterprises find it suitable to consult professionals before implementing geofencing applications and solutions in their existing business processes. API management and testing services are instrumental in addressing the data retrieved from connected devices over the network and hosting applications, and in offering additional services, such as remote device management, and data storage, monitoring, sharing, and management.
The MicroQuadrant matrix provides information about Best Geofencing Software. It outlines the findings and analysis on how well each market vendor performs within the predefined MicroQuadrant criteria. The vendor evaluations are based on 2 broad categories: strength of product portfolio and business strategy excellence. Each category carries various criteria, based on which the vendors have been evaluated. The evaluation criteria considered under the strength of product portfolio include breadth and depth of product offering (based on the industries that the vendors cater to and their solution and service offerings), product feature and functionality, focus on product innovation, and product quality, reliability, and support, focus on product innovation. The evaluation criteria considered under the business strategy excellence include the geographic footprint (based on geographic presence), vision alignment, breadth of application served and coverage, channel strategy and fit, and mergers and acquisitions strategy.
Apple, Esri, GPSWOX, Bluedot Innovation, Thumbvista, and MAPCITE have been recognized as the visionary leaders in the geofencing software market. They offer a strong portfolio of solutions and services to their commercial clients. The products and solutions of these companies are highly scalable and can be customized as per the requirements of the clients. These companies are said to be investing significantly in R&D to introduce innovations in location-based services and geofencing. Moreover, these companies have also undertaken various organic and inorganic strategies to achieve consistent and advanced growth in the geofencing software market.
PlotProjects, GeoMoby, Mobinius, and Urban Airship have been recognized as the dynamic differentiators in the geofencing software market. These companies have a significant network of channel partners and resellers to increase the deployment of their solutions across a multitude of verticals. The dynamic vendors have been consistently generating positive revenue growth in the geofencing market and their market position has heightened by their organic and inorganic ventures.
LocationSmart, Pulsate, Swirl Networks, Maven Systems, SuccorfishM2M, DreamOrbit, Swirl Networks, Nisos Technologies, and Embitel have been recognized as the innovators in the geofencing software market. These companies offer innovative solutions for fixed and mobile geofencing. They also have strong breadth and depth of product offerings. The innovators have been at the forefront in deploying their solutions for niche and custom software requirements of the clients.
Simpli.fi, Raveon Technologies, Factual, InVisage, Visioglobe, MobiOcean, and Localytics have been recognized as the emerging companies in the geofencing market. The emerging players are specialized in offering highly niche and tailor-made solutions and services to their clients. These companies devise new ways of working to drive business results in the market.
Geofencing Software - By Services
DEPLOYMENT AND INTEGRATION SERVICES
Deployment and integration are important stages in the implementation of geofencing technology for various industry verticals. Installation and integration services are considered very important, as different industry applications have different requirements. Geofencing software are 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. Professional service providers ensure the safe and secure integration of geofencing solutions into an enterprise’s existing system. Service providers also safeguard and confirm the integration and installation of applications for quality assurance.
SUPPORT AND MAINTENANCE SERVICES
Support and maintenance services are instrumental in addressing and analyzing the data retrieved from geofencing solutions. The notifications for geofence breaches can be in the form of text alerts, or complex batch or real-time reports. It is very important to manage the applications and the data generated by geofencing software. Support and maintenance services provide end-to-end business services, including due diligence, portfolio analysis, competitive analysis, business intelligence, transition, and continuous improvement for packaged applications. Additionally, these services validate, transform, and synchronize the data between applications and devices. Furthermore, geofencing vendors provide training and development services after the implementation of geofencing solutions. It is important for the vendors to provide appropriate training to the geofencing users to help them manage the push notifications and the data generated through breaches. Geofencing service vendors provide the training required for managing geofencing tools and APIs.
CONSULTING AND ADVISORY SERVICES
Consulting and advisory services play a significant role in the digital transformation and evolution of business processes through geofencing. They provide strategic insights for the operational, organizational, and technological transformation of various industry applications. Moreover, these services offer an innovative service-layer framework to help establish a geofence. Consulting and advisory services are vital in planning, supporting, and identifying the different revenue streams; defining customer business objectives; executing business analysis; and creating roadmaps and plans. They also contribute in addressing new market segments, products, and business models to identify the capabilities and technologies needed for geofencing. These service providers also take care of various geofencing connectivity technologies, such as Wi-Fi, RFID, GPS, and cellular data. Consulting services provide end-to-end system integration of geofencing solutions with Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Product Lifecycle Management (PLM), data warehouse systems, and advertising and marketing platforms to drive improved process efficiency and productivity.
API MANAGEMENT AND TESTING SERVICES
API management services offer application access management, device data communication, and interaction and security services. Additionally, application operation, production support, release and change support, and middleware product support are also carried out by API management services. API management geofencing services can integrate with the existing business processes, users, and systems to assist in real-time business decision making. Moreover, application integration platforms validate, transform, and sync data between applications and devices. API management services provide discovery and rationalization, application architecture design, software distribution, testing and packaging, and license management services.
Geofencing Software - By Type
There are 2 types of geofencing in the market, namely, fixed geofencing and mobile geofencing. According to the requirements of an organization, the geofencing type is chosen. Furthermore, businesses can select between an app-based and a network-based geofencing solution based on their business needs. App-based geofencing solutions are mobile applications that access mobile users’ locational data via GPS. Network-based geofencing solutions use data from the local cell phone towers to send targeted messages to the mobile users connected to the network
Fixed geofencing refers to a virtual boundary around a thing, site, building, or fixed object. When the geofence is breached, the user gets an alert about the violator and a report about the entry or exit of any intruder from a location and the time spent by them in the same position or area. Additionally, a person who enters the fence receives push notifications initiated by the geofencing user. The notification for geofence breaches can be in the form of text alerts, or complex batch or real-time reports.
Fixed geofencing is used in various industry verticals, such as logistics and transportation, healthcare, and retail. In the retail industry, geofencing is used to drive foot traffic and sales numbers by bridging the gap between physical and digital channels. It connects the physical and digital commerce by engaging customers directly on their mobile devices at any location. It helps retailers reach customers near the location and attract them to the physical store. In hospitality management, geofencing is used to increase the sales at restaurants and bars through automated offers, pre-ordering, payments, and loyalty programs. It increases the purchases, consumption, and upselling through hardware-free pre-ordering and payments from any location. It also automates the pickup process to notify the staff as the customer approaches the store.
Mobile geofencing is dynamic and it moves along with the user’s mobile device. It is built into the mobile devices and uses cellular data and GPS. For instance, if a user is passing by a parking space, they will receive push notifications about the paid parking space. Similarly, if the same user is traveling and a landslide occurs, they will receive push notifications about the landslide before entering the danger zone.
Frequently Asked Questions
What is the expected CAGR for the Geofencing Solutions Market?The geofencing market is projected to grow at a Compound Annual Growth Rate (CAGR) of 27.5% during 2017-2022.
What are the major growth driving triggers of the Geofencing Solutions Market?The major factors driving the growth of the geofencing market are the penetration of new technologies, rise in the use of spatial data and analytical tools, higher adoption of location-based applications among consumers, and the growth of competitive intelligence. Furthermore, the rise in Business Intelligence (BI) and the need to track the competitors’ marketing activities are some of the other factors supporting the overall growth of the market.
What are the various application of Geofencing?One of the best applications for geofencing comes in the form of social networking. Geofencing facilitates the usage of location-based filters, stickers and other shareable content. Geofencing also helps marketers to plan their in-store promotions and make ads targeted to a specific audience. It is also used to engage audience at organized events. Geofencing also facilitates telematics, where it enables businesses to draw virtual boundaries around their sites, which whenever trespassed send out alerts to the operators.
What are the various technologies that enable Geofencing?WiFi is a built-in feature in almost all the smartphones devices. RFID is another technology, that provides better precision in tracking. GPS offers enhanced precision when used outdoors and it is very cost efficient. Beacons help in identifying locations of all devices within their range. Beacons have the ability to deliver very high accuracy at optimal battery usage.
PlotProjects Geofencing Solutions depend on multiple location services. It functions even when the app runs in the background mode or it has been actively killed. The accuracy of their plugin is about 10 meters, which makes it highly accurate.
It can be easily integrated into the organization's app and mobile marketing campaigns can be run instantly to target the app users anywhere across the globe. The app is suitable for all platforms and it also has the ability to categorize different types of users, so that specific messages could be delivered to the relevant group of users.
WebEngage Geofencing Solutions helps marketers to make efficient use of location-based marketing using by providing them with Geofence trigger blocks. The company allows businesses to create several geofences with the help of Google maps interface. Users can also define geofence conditions like sending a push notification, SMS, or Email, or any other way in which the business wants to engage with the users.
LocationSmart Geofencing Solutions Smart Zone geofencing services deliver propinquity insights necessary for the daily activities. It provides services from fetching devices to tracking product shipments halfway around the world and more. LocationSmart Geofencing Solutions power and accuracy will provide the organisation an opportunity to open the doors to targeted engagement opportunities.
GeoHems Geofencing Solutions provides GPS based location tracking solutions. Maven Systems M2M Solution – GPS based location tracking uses software filtering algorithms to work on raw values obtained from the GPS Modules and provide the most accurate location data.
Embitel Geofencing Solutions helps businesses in implementing 3D object marker detection solutions for geo-fencing, profile status updates on entering and leaving the perimeters and alert generation systems and communication solutions. Embitel Geofencing Solutionshas successfully deployed push notifications in several mobile apps with the help of numerous solutions such as Evaluated Parse, Urban Airship, Django, GCM etc.
Proximi Geofencing Solutions provides businesses with the competence of using a horde of technologies through a single system. It allows users to be free from being vendor-locked to one provider, enables a smooth transition amongst indoor and outdoor areas, and reach market-leading 1-2 meters of precision. It also enables businesses to manage their entire indoor positioning and navigation setup through the Proximi.io web portal.
Skyhook Geofencing Solutions enable businesses to locate devices globally, even when offline, in a very power efficient manner. The company can modify its product to meet the exclusive needs of each customer. With numerous integration choices, even the smallest, most resource controlled devices can benefit from Skyhook’s global location network.
Radar Geofencing Solutions guesses a user's current location based on numerous signals, comprising device location, location footprint, location density, location popularity, and time of day. It helps businesses to turn precise event types on and off for data minimization purposes. The platform also allows users to confine content when a user is deceiving their location.
Raveon Technologies offers RavTrack geofencing solutions that are specifically created for Public Safety AVL, Construction Equipment Tracking, Parks and Mine Equipment Tracking, security management, theft discovery, vehicle delivery and more. RavTrack geofencing solutions GPS tracking solution leverage VHF/UHF/ISM radio channels which makes their solutions faster, and cuts down on any monthly expenditures.
Herow Geofencing Solutions provide total access to their APIs which enables Herow to connect with the user’s existing stack. The Herow Platform lets mobile apps to augment their understanding of customer behaviour with their ways, favorites and real-time actions in the physical world. It allows businesses to activate content and communication at instants when their users need it and are available to act on it.
VisioGlobe Geofencing Solutions makes it easy for businesses to edit and publish the latest map to their desired platforms. The Geofencing software is flexible and can be accessed from anywhere with the web browser. It enables users to edit and save their maps on the cloud. VisioGlobe Geofencing Solutions Visualization products are fast and are easy to integrated in the businesses' existing applications. The solutions can be deployed on mobile, web and kiosk. The company enables businesses to visualize maps on mobile, web and kiosk with th help of their multiplatform solutions.
Succorfish Geofencing Solutions asset tracking platform permits customers to precisely monitor and connect with all mobile assets from one central hub. The platform provides an all encompassing ATS and a communication channel (2 way) from which it records, analyse and extract real time data from the personnel and tactical assets. Succorfish Geofencing solutions has the ability to define a virtual perimeter for a real-world geographic area. The breaking of the geofence perimeter alerts that indicates that an asset is deviating from a predefined route.
MobiOcean Geofencing solutions is a specialist software in developing both on-premise as well as cloud-based location management solutions which offer geofencing management from a single console. The company helps businesses to locate and be remotely connected with its employees, implement an all-inclusive employee tracking solution and also connect with them in case of any emergency.
GroundTruth Geofencing Solutions offers location based marketing solutions that help businesses in getting critical insights about their customers and personalizing their offerings accordingly. The company offers unique Location Audience Targeting that enables marketers to target potential customers based on their live location and location history. It also provides proximity targeting, with which businesses can connect with customers in real-time whenever they are around the geofenced locations.
Ontarget Geofencing Solutions offers mobile marketing based on geofencing that helps businesses to target possible customers based on their location. The company leverages GPS, cellular data, and Wi-Fi data. It allows businesses to establish prearranged radius around their preferred locations and creates mobile ads accordingly. The company uses more than 128 classified audiences and overlays real-world visitation behaviour with demographic data. The company also has the capability to reach people who visited a brand specific or category locale previously.