INSIGHTS
- Flybits involves a complete set of location-management as well as push notification services that leverages GPS, Wi-Fi, cell towers, NFC, and beacons and is compatible with any existing infrastructure.
- Factual publicized the expansion of its Geo pulse ad-targeting suite, with new product innovation that assists advertisers to evaluate their campaigns drive in-store visits and to provide more directives on overall strategy.
- BlueDot made its geofencing solution highly attainable to enterprise customers with the launching of Bluedot Location Marketing on the world’s largest marketplace for enterprise apps known as Salesforce AppExchange.
OVERVIEW
BlueDot executes an action such as sending a notification or playing a tone which makes it possible to recognize the device location along with a random install reference. Flybits leverage GPS, Wi-Fi, cell towers, NFC, and beacons because it involves a complete set of location-management as well as push notification services. Factual's geopulse measurement assists brands to have a better assessment of their ads based on convincing people to patronize their stores.
Below is an outline of our research methodology, as well as a deep dive into our research findings.
METHODOLOGY
We commenced by searching for pre-existing information on how BlueDot, Flybits, and Factual use their location technology or geo-fencing technology to get accurate and detailed data through their respective company website. Our search on the subject was successful and we've shared our findings below.
Next, we searched for expert opinion or details from company statements around how they are planning to improve accuracy and detail for each company through news, industry report, articles, blogs, and media sources such as Techcrunch, WSJ, CNN, Forbes, Crunchbase, Transparency Market Research, Markets and Markets, Computer Weekly, GeoMarketing, Wired, and Others. We only found information for Factual and BlueDot while information on the subject for Flybits is limited. However, expert opinion on how geo-fencing technology is expected to evolve or develop over the next 3-5 years is mainly available from industry report which we have provided.
After searching exhaustively for available information on the above, we've determined that information is limited as it is subject to availability which was not very extensive. Also, the fact that these companies are startups and have just commenced operations recently and could be the reason why such information has not been publicly reported.
From our findings, the available information on expert opinion or details from company statements around how they are planning to improve accuracy and detail does not provide a forecast on timeline, and so we've assumed it is for the next one to two years since technology is presently dynamic, hence, it cannot be predicted for so many years in advance.
OVERVIEW ON THE USE THEIR LOCATION TECHNOLOGY OR GEO FENCING TECHNOLOGY TO GET ACCURATE AND DETAILED DATA.
- BLUEDOT
The device executes an action such as sending a notification or playing a tone which makes it possible to recognize the device location along with a random install reference. This action usually takes place when entering a geographic area (Zone) that has been pre-established for use by the client or partner in an app. Also, an action can be prompted by setting specific parameters that must be met, for example, entry into a zone within a pre-established range of date and time by the end user.
- FLYBITS
Flybits leverage GPS, Wi-Fi, cell towers, NFC, and beacons because it involves a complete set of location-management as well as push notification services. It is compatible with any existing infrastructure. "This insulates users from proprietary beacon hardware lock-in." Flybits is also a means of connecting to a geo-fenced zone which involves configuring a device to perform as a document processing mechanism in line with zone address identification rules. Secondly, rectifying not less than one zone address token to a network address that is related to a target zone.
- FACTUAL
Targets majorly on guaranteeing high data quality on both data sets. It has its own technology that tends to resolve those things Factual’s deal with. Viant is charged for providing a clear picture of store visits and when, including keynotes into the devices and channels that are motivating store visits. The Engine can accurately recognize a person in a particular place by using machine learning model even if the latitude/longitude with respect to the geofence shows otherwise.
DETAILS FROM COMPANY STATEMENTS AROUND HOW LOCATION TECHNOLOGY OR GEO FENCING TECHNOLOGY IS EXPECTED TO EVOLVE OR DEVELOP.
- FACTUAL
Factual publicized the expansion of its Geopulse ad-targeting suite, with new product innovation that assists advertisers to evaluate their campaigns drive in-store visits and to provide more directives on overall strategy. The other new product design is Geopulse measurement, which assists brands to have a better assessment of their ads based on convincing people to patronize their stores. The information is usually delivered in real time, so campaigns can be regularly adjusted to for performance improvement.
OVERVIEW OF HOW GEO FENCING TECHNOLOGY IS EXPECTED TO EVOLVE FROM INDUSTRY REPORT.
Bluedot made its geofencing solution highly attainable to enterprise customers with the launching of Bluedot Location Marketing on the world’s largest marketplace for enterprise apps known as Salesforce AppExchange. Such innovation boosts the market share of Salesforce AppExchange. The geofencing tech is experiencing continuous publication in terms of improvement and integration with other technologies like beacons and augmented reality. As GPS is facing a transformation in terms of tech with the addition of new satellites and introduction of recent standards, geofencing is projected to evolve into a more sophisticated location-based service by 2024.
An emerging application of geofencing is more used as a recruitment tool, where companies are relying on technology to aim prospective employees. "By procuring a database of potential recruits, companies set up geofences in areas where these coveted recruits live or work." By the end of 2022, revenues accrued from geofencing operations that are carried out through unlicensed low power technology networks are anticipated to rise above $310 million, globally. (Source 10)
CONCLUSION
BlueDot executes an action such as sending a notification or playing a tone which makes it possible to recognize the device location along with a random install reference. By the end of 2022, revenues accrued from geofencing operations that are carried out through unlicensed low power technology networks are anticipated to rise above $310 million, globally.