WILMINGTON, DE, UNITED STATES, October 10, 2024 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global geomarketing market size was pegged at $11.4 billion in 2021, and is expected to reach $78.9 billion by 2031, growing at a CAGR of 21.5% from 2022 to 2031.

Increase in investment in digital marketing compared to conventional marketing and surge in demand for location-based intelligence have boosted the growth of the global geomarketing market. The market across North America held the largest share in 2021, accounting for more than two-fifths of the market. The geomarketing market witnessed stable growth during the Covid-19 pandemic due to surge in digital penetration during the lockdown period.

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Geomarketing involves delivering the right message to the right person in the right location. This marketing concept uses location data to deliver its messages to the most relevant audience at the right time. The key to geomarketing is the use of targeting and segmentation. In this case, marketers are segmenting by geographic location and then targeting consumers inside of that boundary. Furthermore, growing investment in digital marketing compared to conventional marketing and increasing demand for location-based intelligence are boosting the growth of the global geomarketing market.

In addition, enhance customer targeting with the help of AI, Location analytics, and big data positively impacts the growth of the market. However, legal concerns & data privacy threats and lack of skilled operators are hampering the market growth. On the contrary, high demand for mobile computing and treading social media is expected to offer remunerative opportunities for expansion of the market during the forecast period.

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The report segments the global geomarketing market on the basis of offering, deployment mode, enterprise size, industry vertical, and region.

The global geomarketing market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2021, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 23.6% during the forecast period.

The global geomarketing market includes an in-depth analysis of the prime market players such as Adobe, Cisco Systems, Inc., CleverTap, ESRI, Galigeo, Google LLC., HYP3R, Inc., IBM, Microsoft, Oracle, PlotProjects, Qualcomm Technologies, Inc., Saksoft, Salesforce, Inc., Software AG, Telefonaktiebolaget LM Ericsson, and Xtremepush.

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The report analyzes these key players in the global geomarketing market. These companies have adopted several strategies including expansion, new product launches, and partnerships to increase their market penetration and maintain their foothold in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.

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