Geographic Information System Market is estimated to be US$ 26.97 billion by 2030 with a CAGR of 12.1% during the forecast period
Geographic Information System Market accounted for US$ 8.6 billion in 2020 and is estimated to be US$ 26.97 million by 2030 and is anticipated to register a CAGR of 12.1%. A geographic information system (GIS) is a software tool for storing, analyzing, manipulating, and visualizing geographic data. The GIS software tool is cost-effective, time-saving, and may be used to identify new areas of opportunity and potential issue areas by creating maps and other graphic representations of geographic data for study and presentation. Any information that incorporates location, such as latitude and longitude, address, or ZIP code, is used by a geographic information system.
The report " Global Geographic Information System Market, By Component(Hardware and Software), By Application (Aerospace & Defense, Oil & Gas Exploration, Water & Wastewater, Government, Transportation & Logistics, Telecommunications, Healthcare, Engineering & Business Services, Oil & Gas Refining and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In July 2021, Aqua farmers network Aquaconnect said it has raised $4 million in a pre-series A round led by Rebright Partners and Flourish Ventures. AgFunder and 6g Capital also participated in this round, along with existing investors Omnivore and HATCH.
· In August 2021,"MNRE in association with UNIDO and GEF launched the loan interest subvention scheme for demonstration of innovative industrial organic waste to energy biomethanation projects and business models. A GIS-based inventory tool of organic waste streams was also unveiled," an official release said.
Analyst View:
The worldwide geographic information system market is growing due to the increasing development of smart cities around the world and government investment in geographic information system-based infrastructure. Furthermore, the growing demand to combine traditional data with spatial data in order to gain important insights from location-based data is fueling the worldwide geographic information system market. Furthermore, the development of innovative instruments in the transportation sector fuels the worldwide geographic information system market's expansion. In addition, the worldwide geographic information system market's growth is hampered by a lack of customer awareness and costly system maintenance costs.
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Key Market Insights from the report:
The Global Geographic Information System Market accounted for US$ 8.6 billion in 2020 and is estimated to be US$ 26.97 million by 2030 and is anticipated to register a CAGR of 12.1%. The Global Geographic Information System Market is segmented based on the component, application and region.
· By Component, the market is segmented into Hardware and Software.
· By Application, the market is segmented into Aerospace & Defense, Oil & Gas Exploration, Water & Wastewater, Government, Transportation & Logistics, Telecommunications, Healthcare, Engineering & Business Services, Oil & Gas Refining and Others.
· By Region, the Global Geographic Information System Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific on the basis of region is expected to hold maximum share in the global geographic information system market.
Competitive Landscape:
The key players operating in the global Geographic Information System market includes Pitney Bowes Inc., MacDonald, SuperMap Software Co. Ltd., Pasco Corporation, Dettwiler and Associates Ltd., Bentley Systems Incorporated, Autodesk Inc., Hi-Target Surveying Instrument Co. Ltd, Environmental Systems Research Institute Inc., and Golden Software LLC.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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