Geolocation-based applications have evolved at a rapid pace in the past decade. IP geolocation solutions have evolved from niche software-based solutions to user-specific applications to important software deployed in computing systems. In the past few years, the uptake for IP geolocation, especially from the business sector is scaling new heights.
Businesses around the world are gradually recognizing the potential of IP geolocation and are formulating marketing strategies based on the geographic location of their clients. While the adoption of on-premise IP geolocation solutions is expected to gain momentum in the second half of the forecast period (2019-2027), preference for cloud-based solutions will remain higher during the stipulated timeframe of the study.
With the dawn of the digital era, the IP geolocation solutions market has witnessed considerable growth. Moreover, as demand for online solutions continues to grow at an unprecedented rate, software developers are in the process of rolling out innovative solutions to automate the redundant manual processes and streamline workflow models.
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As IP geolocation continues to head towards the mainstream, mobile applications are increasingly using these systems to collect geolocation data to pinpoint the geographical location of a device connected to the Internet. These factors are playing a crucial role in the development of the IP geolocation solutions market, which is on course to reach a value of ~US$ 2.1 Bn by the end of 2020.
Due to significant advancements made by IP geolocation solutions, geo advertising has garnered noteworthy popularity in recent times – a trend that is set to continue through the entirety of the forecast period. Brands are leveraging the advantages of location-based advertising such as pay per click campaigns, organic searches, and banner ads to tap into their target audience. Moreover, IP geolocation solutions have emerged as one of the most critical components, which marketers can rely on for their location-based marketing campaigns.