PUNE, India, Feb. 11, 2020 /PRNewswire/ — It would be impracticable to locate a person or a place on the Blue Planet without knowing the exact latitude and longitude (along with altitude). Likewise, on the internet, it becomes crucial to identify the origin of a device through which data is being accessed. Each device is assigned with a unique address when connected to the internet, known as the internet protocol (IP) address. As far as computing language is concerned, IP geolocation software enables an individual or an organization to trace the origin of a request and identify the IP address of the device. An IP address enables the end-user to identify non-intrusive information such as the country, state, postal code, etc. Thus, the geographical location of the device can be obtained using geolocation software. While transferring data over the internet protocol, it is mandatory for any request to contain the sender’s IP address in the request header. The IP address data can be procured by looking up the IP address in the Regional Internet Registries (RIR). For example, all the IP addresses pertaining to the North American region will be present in the American Registry for Internet Numbers (ARIN). One among the major reasons for the growing adoption of a IP geolocation software is to prevent internet and financial fraud. This is expected to lead to the growth of the global IP geolocation software market, especially in the APAC region.
Online fraud, which primarily includes identity fraud, has been a major cause of concern for organizations in recent years. A report by the US’s Federal Bureau of Investigation (FBI) mentioned that more than 300,000 complaints were registered by users in 2017 and the monetary loss as a result of online fraud was more than US$ 1.4 Bn. Digital Envoy, a U.S.-based IP geolocation software vendor, provides solutions that help in the identification of a device’s location, proxy data, type of connection, among others. This enables organizations to blacklist devices and they receive valuable information that helps in making intelligent decisions about transactions that seem fraudulent, thus helping the former to avoid becoming victims of online fraud. Cloud computing has enabled IP geolocation software vendors to offer economical solutions that further help in the adoption of the global IP geolocation software market.
The detailed research study provides qualitative and quantitative analysis of IP geolocation software market. The market has been analyzed from demand as well as supply side perspective. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- In terms of revenue, the global IP geolocation software market is expected to reach US$ 3,688 Mn by 2027, owing to the increasing need to prevent fraudulent transaction
- On the basis of application, the online fraud prevention segment will gain leading market share in the IP geolocation software market during the forecast period owing to the rapid growth in smart devices and the internet
- In 2018. the string matching geolocation segment held the largest share in the global IP geolocation software market, due to the ease in its implementation and operation
- In terms of regions, North America will held the maximum market share of 32.24% during the forecast period, primarily because of the increasing use of digital mode of payments in the region
- The primary market participants in the global IP geolocation software market are include Digital Element, Inc., IP2Location.com, KickFire Inc., MaxMind, Inc. and Neustar, Inc. , among others.
Global IP Geolocation Software Market
- By Tracking Type
- By Techniques
- Database Geolocation
- String Matching Geolocation
- By Application
- Online Advertising
- Analytics Enhancement
- Online Fraud Prevention
- By Region
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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SOURCE Absolute Markets Insights