I would like to limit the search area(as would a lot of people) for the ArcGIS World Geocoding Service. Is there a way to change its search extent or geofence the geocoding service. Hoping not not have to create my own geocoding service.
Have you had a look at creating your own view of the ArcGIS World Geocoding Service? Not creating your own geocoding service, but creating a locator that is a view of the existing service, and which implements your desired search constraints? See Create a locator view.