What is Geofencing? A Complete Guide to Geofencing Technology in Different Industries
Geofencing is a modern technology that can be used to send notifications when a user crosses a certain boundary on a map. The geofencing technology can be used for different purposes but is most often used in tracking and marketing. With it, customers can receive personalized ads, and companies can improve the quality of service and increase sales. Statistically speaking, in 2022, the geofencing market was valued at $1,867.2 million. By 2032, its average annual growth rate is projected to reach 17.8%, and the total volume is projected to be $9,596.6 million.