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Increasing Demand For Business Integration Services Is Fueling Adoption Of Geomarketing Services

The global geomarketing market is anticipated to grow at an exponential rate during the forecast period. Geomarketing is a key to sustainable business success, focusing on its ability to improve sales, drive decision making abilities, and expansion plans. Companies are tapping new growth potentials, amidst today's market complexity. Geomarketing is a multifaceted system that encompasses a vivid range of components and services. The software can analyze data, digital maps, and offer expert consultancy services to address location-related queries in sales, controlling, and marketing. 

Sales territory planning, market analysis, external salesforce management, company turnover planning, territory reporting, cost optimization, customer analysis, branch network optimization, location analysis & planning risk analysis, target group localization, and direct marketing are some of the key features offered by geomarketing services. 

Territorial conquest to strengthen market foothold has always been a key focus for companies. Mergers & acquisitions aimed for the expansion of territorial coverage are increasing, whether to expand company’s presence or to regulate costs. The merging of groups like Carrefour and Promodès has been a classic example of acquisitions. Airline industry is increasingly adopting geomarketing strategies to gain spatial reach. Air France, Korean Air, Delta Airlines, AeroMexico, Czech Airlines, and Alitalia reflect this idea. Several agreements between North American, European, and Japanese automobile manufacturers have demonstrated improved sales, purchasing power, access to the international media, protection against local recessions, and an enhanced logistical efficiency. 

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The end-user applications include healthcare & life sciences, retail & ecommerce, media & entertainment, travel & hospitality, telecom & IT, and BFSI. The market bifurcation based on product type consists of software and services. Geographically, the market has been segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. North America dominated the global market over past few years, mainly due to improving industrial standards and technological advancements. Furthermore, the market is also driven by substantial financial support from the government to improve R&D capabilities. Companies in Canada and the United States are emphasizing on analytics strategies for their businesses as customers are increasingly accessing multiple touch points. The region has a widespread startups operating, primarily in the United States. This is further driving the need for geomarketing services. 

The key players operating in the geomarketing market includes Clevertap; Google Inc.; Microsoft Corporation; IBM Corporation; Oracle Corporation; Cisco Systems Inc.; Adobe Systems Inc.; Software AG;, Inc.; and Ericsson. The market has a lineup of services and solutions, serving numerous industries. IBM Watson IoT has helped farmers make better decisions and obtain greater agricultural yields. IBM Corporation is focusing on integrating IBM Watson IoT to improve accessibilities with cities and blockchain on their IBM Cloud to reduce food wastage. Their P-Tech school solutions are being better used to prepare students for the jobs of tomorrow.
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