The global geospatial analytics market accounted for a value of 44.2 billion in 2019. Geospatial Analytics market projected to register growth at a CAGR of 11.5% during forecast period.
COVID-19 has impacted the geospatial analytics market positively. The technologies are advancing immensely around the world. Various GIS based tools are used by epidemiologists for understanding past epidemics such as Polio, Ebola etc. This is helping in understanding and analyzing the pattern of COVID-19. It is used to monitor plans and facilities available to combat epidemic. The confirmed cases are mapped to identify cause of infection and it can be used to map data for risk management. The spread of corona virus has boosts the growth of this market.
For more details, visit: Global Geospatial Analytics Market By Organization Size (SMEs, Large Enterprises), By Application (Surveying, Medicine and Public Safety, Others.), By Component, By Technology, By End-Users, By Region, Forecast & Opportunities to 2026
The AI and ML market is growing rapidly and there are various improvement have been made in this segment. The AI and ML capabilities are combined with geospatial data in order to provide enhanced and improved insights to the enterprises. Geospatial analytics solution providers are increasing in the world which is deploying AI and ML technologies. This helps in proving better insights to organizations. This drives growth in geospatial analytics market during forecast period.
On the basis of component, the geospatial analytics market is segmented into solution and services. The solution segment is estimated to hold largest market share during forecast period. The geospatial solutions involves geo-coding, reverse geo-coding, ETL, thematic mapping, spatial analysis, reporting and data integration etc. The solutions segment immensely helps organization to analyze, act and localize the changing businesses. Major companies are investing in geospatial analytics market for increasing operational productivity and agility. It helps in understanding trends in business which also reduces operational cost. The adoption of geospatial analytics solutions are increasing around the world which drives growth in this segment during forecast period.
On the basis of organization size, the geospatial analytics market is segmented into small and medium sized enterprises and large enterprises. The SMEs organization is estimated to grow at highest CAGR during forecast period. Different sized organization has different requirements for geospatial analytics deployment. The adoption for location based spatial data in SMEs in increasing around the world. The adoption of cloud technologies is very helpful for SMEs for better operation and efficient performance. This drives growth in SMEs organization market during forecast period.
On the basis of application, the geospatial analytics market is segmented into medicine & public safety, surveying, disaster risk reduction & management, climate change adaption and others. The surveying application is estimated to hold largest market share during forecast period. The surveying is used to determine angles and distances between two points on the earth’s surface. It is very important for transportation planning, construction planning, urban planning and smart city development. Surveyors use GIS software for the purpose of collecting, importing and storing the data geographically. The large scale adoption of such technologies around the world is likely to boost the surveying segment during forecast period.
North America segment is estimated to hold largest market size during forecast period. The geospatial analytics is widely adopted by various organizations such as utilities, transportation, agriculture and construction. It provides real-time information based on location. The mobile GIS technologies are widely adopted in this region. This region is home for various geospatial organizations. This drives growth in North America region during forecast period.
The key market players in geospatial analytics market are ESRI, Precisely, Oracle Corporation, Alteryx, Fugro, Hexagon AB, SAP, Trimble Navigation, Maxar Technologies, maplarge, L3 Harris Corporation, bentely Systm, General Electric, Google, TOMTOM, Atkins, AAM PTY, Critigen, Orbital Insights, Autodesk, Geospin and Mapidea.
- What are the expected industry trends over the next three to five years?
- Which of the geospatial analytics technology is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?