Global Geomarketing Software Market 2020-2024 | Use of AI in Digital Advertising to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 22, 2019--
The global geomarketing software market is expected to post a CAGR of more than 26% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global geomarketing software market 2020-2024 (Graphic: Business Wire)
Geomarketing software offers a quick and reliable way to reach a large number of customers and thus helps companies deliver the desired customer experience. Businesses are increasingly adopting geomarketing software to focus on their core business processes and enhance operational efficiencies. Many customer-centric industries such as BFSI, retail, travel and tourism, and media and entertainment adopt geomarketing software to find new ways of reaching out to customers through interactive services and targeted campaigns. The growing need to improve business efficiencies is expected to boost the demand for geomarketing software during the forecast period.
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As per Technavio, the use of AI in geomarketing software for digital advertising will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Geomarketing Software Market: Use of AI in Geomarketing Software for Digital Advertising
The integration of AI in geomarketing software is helping businesses improve customer experience. AI analyzes customer behavior and then serves them the relevant advertisements, thereby increasing the number of conversions. Also, AI helps enterprises interpret large amounts of customer data and create personalized advertisements to improve the efficiency of an advertisement campaign. This trend of integrating AI in geomarketing software is expected to boost market growth during the forecast period.
“The advent of big data and location-based analytics and the evolution of programmatic advertisement buying are other factors that are expected to boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Geomarketing Software Market: Segmentation Analysis
This market report segments the global geomarketing software market by deployment (cloud-based and on-premises), location (outdoor and indoor), and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2019, followed by APAC, Europe, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to the rising adoption of mobile devices for personal and professional purposes in the region. However, the APAC region is expected to witness highest incremental growth over the forecast period due to the increasing penetration of smartphones and the adoption of new technologies by end-users.
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Some of the key topics covered in the report include:
Five Forces Analysis
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SOURCE: Technavio Research
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