Research and Markets announced this week the addition of the “GeoFencing: Enabling Location-Based Reminders, Ads, Promotions, Proactive Apps, Security & More”report to their offering.
What is GeoFencing? It is an application that runs automatically on your smartphone so that when you get near a relevant location, that location or vendor can target their services to you the user and to the location.
If you use your smartphone calendar and to-do list, GeoFencing will let you know you are passing a store that sells the item on your to-do list that you need. If you’re a retailer then GeoFending will run your shop’s app while a user is passing the store in that location, signaling him/her with an appropriate product suggestion. It is also good for advertisers, parents, for social networking, for interoffice communication, always letting you know of what or who nearby might be appropriate for you to talk to.
There are a number of hurdles yet to be scaled for GeoFencing, such as the fact that running the phone GPS might drain the device’s battery. Also, timing and the range of the GPS are factors.