IP Geo-location Gains Momentum amid COVID-19 Pandemic, as Online Food Delivery and Grocery Shopping Gain Prominence: Fact.MR
As companies across the world resort to work-from-home culture, there has been a significant increase in demand for telecom associated services, which is a lucrative opportunity for IP geo-location service providers.
ROCKVILLE, MD / ACCESSWIRE / May 26, 2020 / Increasing automation and digitization activities, coupled with the high adoption of digital marketing by organizations is expanding the applications of IP geo-location services in e-commerce service, OTT service, broadcasting services, and travel agencies. Driven by the increasing number of internet subscribers and the adoption of IPv6 numbering system market, the IP geo-location market will grow exponentially at over 10.6% through the forecast years (2020-2030).
As indicated by a new report of Fact.MR, the novel coronavirus outbreak will have a widespread influence on the IP geolocation market. The uptick in the work-from-home culture has initiated the addition of numerous systems to the internet. Although the usage of IP geo-location by aggregators and online retailers is witnessing a downfall on the back of nationwide lockdowns, target advertisements and localized web content by OTT platforms are bolstering the IP geo-location market with revenue opportunities through the pandemic
“IP geo-location services will continue to receive impetus through the COVID-19 crisis, backed by the flourishing prospects of online grocery and food delivery in essential services categories,” says the Fact.MR analyst.
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Global IP Geo-location Market – Key Takeaways
- Global IP geo-location service market is forecasted to grow 3.5X in value through 2030 as compared to existing valuation.
- Demand for application in the target advertisement segment is soaring, and will account for more than half of the global share, owing to enhanced customer experience.
- Asia Pacific continues to lead with more than one-fourth of the global share, on the back of a high number of smartphone users.
- North American remains a lucrative region, majorly supported by the presence of high-tech services and the adoption of IoT applications.
Global IP Geo-location Market – Key Drivers
- Rising automation and digitalization in various end-use industries is driving the market growth.
- Increasing adoption by players in e-commerce services, OTT services, broadcasting services, and travel agencies, is providing lucrative revenue opportunities.
- Introduction of technology-backed services such as Next Generation Networks (NGN), smart shopping, and automated billing, is enabling numerous biotechnological applications by the IP geo-location market.
- Telecom industry and increasing number of food, cab and hotel aggregators are pushing demand further
- Organizations opting for digital marketing in order to reach regional customer base content is translating into revenue opportunities for players in the IP geo-location market
Global IP Geo-location Market – Key Restraint
- The inaccuracy of coordinates used by solution providers, in providing an accurate geographic center, often leads to the systems being considered unreliable for recognizing the precise location of the user linked with the IP address. The inaccuracy is likely to challenge the growth of the IP geolocation solutions market worldwide.
- VPN services, which allow users to hide their identity and actual IP address are a potential threat to the IP geo-location services market.
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Competitive Landscape
Key players in the global IP geo-location market are focusing on adopting AI & ML algorithms to achieve accuracy in identifying the user’s location and detecting the difference between actual and VPN based IP location. On the back of the unforeseen outbreak of COVID-19, the IP geo-location market has beheld a downfall of applications in cab and hotel aggregators during the first quarter of 2020. On a positive note, applications in online groceries, food delivery services, and other essential services categories will boost the demand through the pandemic.
About the Report
In its 170-page report, Fact.MR simplifies the vast study on the basis of solution (cloud-based, unmanaged services, partially managed services, fully managed services, on-premise), API packages (basic API package, core API package, extended API geo-location API), Application (localized web content, fraud detection, target advertisement, digital rights management, and others), enterprise size (small & medium enterprises, and large enterprises), end-users (OTT Content Providers, Online Retailer, Gaming Operators, Aggregators( hotel, food, cab, and others)) across six major regions ( North America, Latin America, Europe, East Asia, South Asia, and Middle East & Africa).
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SOURCE: FactMR
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