According to the report titled ‘Global geomarketing Market Size study, by Service (, Advisory & Consulting, Deployment & Integration, Support & Maintenance), Component (Software, Services) by Location, Indoor, Outdoor) by Deployment (, CLOUD, ON- Premises) by Vertical, Healthcare & life sciences, Travel & hospitality, Media & entertainment, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global geomarketing market was worth USD 8.6 billion in 2019 and is expected to grow with a CAGR of 25% during 2020-2027.
 

Surging demand for location-based data to better target audience using Big Data, AI, and location analytics, in consort with growing investments in digital marketing are primarily driving the growth of global geomarketing market.
 

For those uninitiated, geomarketing is a discipline that through knowledge utilization and digital mapping to coordinates, aids in taking decisions and formulate marketing campaigns. The digital map allows marketers to examine data as per the geography, like suburban area bordering a major city, or a specific location such as a retail store.
 

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Rising usage, adoption, and usefulness of social media, and COVID-19 outbreak compelling companies to cut marketing budgets are further propelling global geomarketing industry expansion. Moreover, surging number of internet users, alongside widespread penetration of social media are stimulating the market outlook.
 

However, threat to data privacy and lack of legal protections are the issues restraining the industry landscape over the study period.
 

Citing the regional landscape, worldwide geomarketing market sphere is segmented into North America, Asia Pacific, Latin America, Europe, and Rest of the World. The report claims that North America currently holds a significant market share and is predicted to grow further over 2020-2027. The regional growth is attributable to surging demand for location-based information, more innovations in digital marketing in comparison to conventional marketing, and expansive incorporation of big data, location analytics, and artificial intelligence (AI) for targeting audience.
 

Meanwhile, Asia Pacific geomarketing industry is expected to register a decent growth rate through 2027, on account of large population base and rapid technological changes.
 

Major players impacting global geomarketing market trends are Xtremepush Ltd., Qualcomm Technologies Inc., Salesforce.com Inc., Software AG, Microsoft Corporation, Google LLC, IBM Corporation, CISCO System Inc., Oracle Corporation, and Adobe Inc.