Geofencing is a technology that defines a virtual fence around a real-world geographical area. It combines awareness of the user's current location with the user's proximity to locations that may be of interest. A radius of interest is established which can trigger an action in a geo-enabled phone or other portable electronic devices. Geofencing triggers an alert when a device or object enters a designated location set by the administrator. Geofencing uses technologies such as GPS, RFID, Wi-Fi or cellular data to allow location identification. Some geofences are set up to monitor activities in secure areas, allowing management to receive alerts when anyone enters or leaves the specific area.
Government and defense industry which see heavy reliance on geofencing applications such as marine defense, drone management, air force defense, military vehicle management, law enforcement, and geographic event alerts, is the key factor to boost growth of the global geofencing market. Applications such as telematics, human resources, and child location services are also expected to further propel growth of this market. Abundance of low-cost developers expanding technology beyond traditional location-based applications is further boosting growth of the global geofencing market.
However, limitation of radius in low coverage areas, device capacity and battery drainage issues on certain versions are key factors restraining growth of the global geofencing market. Concerns towards continuous device monitoring, high costs related to implementation and maintenance, and preference towards permission marketing serving as a substitute are other factors expected to hamper growth of the global geofencing market over the forecast period.
The global geofencing market is segmented on the basis of component, service, geofencing type, size of organization, end-user, and region. On the basis of region, the global geofencing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Email fraud is nothing new, but online criminals have become ever more-effective at spoofing their identities to trick employees into sending them money. The Australian Centre for Cyber Security (ACSC) recorded losses of over $20M to business email compromise (BEC) attacks last year alone, up 230 percent over the previous year – and the full amount is certain to be much larger.
Cybersecurity Insights - Attack
No matter how robust your security, or how diligent your employees, network credentials are a free pass for cybercriminals. This is mostly because employees are relied upon for their own password management. And with more than 4.8 billion sets of stolen credentials said to be available online, odds are that at least a few of your employees’ user IDs and passwords are just waiting to be used by unscrupulous outsiders. Are you ready to stop them?
Cybersecurity Insights - People
Cyber resilience will be particularly important as Australian organisations face increased pressure to quickly detect, respond to, and manage the repercussions of breaches in the wake of 2018’s Notifiable Data Breaches (NDB) scheme.