Geospatial Analytics Market is estimated to be US$ 173.47 billion by 2030 with a CAGR of 11.5% during the forecast period
Geospatial Analytics Market accounted for US$ 58.32 billion in 2020 and is estimated to be US$ 173.47 billion by 2030 and is anticipated to register a CAGR of 11.5%. Geospatial analytics collects geographic data and imagery from earth observation, GIS, GNSS & positioning, 3D scanning, satellite pictures, location sensors, social media, and mobile devices, visualises it, and helps people and places find each other. Geospatial analytics insights aid decision-making and the formulation of focused marketing tactics to improve lead creation. The improvements in artificial intelligence, machine learning, and big data technologies are driving the growth of the geospatial analytics industry. Artificial intelligence helps businesses run more efficiently by reducing turnaround times, eliminating human errors, automating repetitive activities, analysing trends, and producing the intended results.
The report "Global Geospatial Analytics Market, By Types of Analysis (Surface Analysis, Geo-visualization, Network Analysis, Other Analysis Types), By Technology (Remote Sensing, Geographical Information Systems (GIS), Global Positioning Systems (GPS) and Other Technologies), By Application (Surveying, Medicine and Public Safety, Disaster Risk Reduction and Management and Other Application), By End-users (Business, Utility and Communication, Defense and Intelligence, Government, Automotive and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· September 2018 - Hexagon AB will present its Smart M App portfolio, a simple-to-use platform for creating lightweight and dynamic applications that address a specific need. To deliver geospatial analytics as a service, the solution combines content, business operations, and geoprocessing into a single application.
· Esri inaugurated its latest research and development centre in New Delhi, India, in March 2019. Data science, deep learning, and geospatial artificial intelligence (GeoAI) solutions will be the focus of the new facility.
Analyst View:
Increased demand for AI-based GIS solutions and increased need for geospatial analytics in smart city construction and urban planning are two important drivers influencing the worldwide geospatial analytics market's growth. Furthermore, the use of satellite monitoring to control the spread of COVID-19 has a beneficial impact on market growth. The market's growth is likely to be hampered by the high cost of geospatial analytics, regulatory problems, and a lack of comprehensive government policies on geospatial analytics. Furthermore, throughout the forecast period, the adoption of cloud-based GIS and the increased use of AR and VR technologies in geographic information systems are likely to have a substantial impact on market growth. However, each of these variables is expected to have a significant impact on the market.
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Key Market Insights from the report:
Global Geospatial Analytics Market accounted for US$ 58.32 billion in 2020 and is estimated to be US$ 173.47 billion by 2030 and is anticipated to register a CAGR of 11.5%. The global dashboard camera market report segments the market on the basis of type of analysis, technology, application, end-user, and region.
· Based on Analysis, Global Geospatial Analytics Market is segmented into Surface Analysis, Geo-visualization, Network Analysis, and Other Analysis Types.
· Based on Technology, Global Geospatial Analytics Market is segmented into Remote Sensing, Geographical Information Systems (GIS), Global Positioning Systems (GPS) and Other Technologies.
· Based on Application, Global Geospatial Analytics Market is segmented into Surveying, Medicine and Public Safety, Disaster Risk Reduction and Management and Other Application.
· Based on End-User, Global Geospatial Analytics Market is segmented into Business, Utility and Communication, Defense and Intelligence, Government, Automotive and Others.
· By Region, the Global Geospatial Analytics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Geospatial Analytics Market:
Key players in the global geospatial analytics market includes Trimble Inc., Hexagon, Maxar Technologies, Harris Corporation, Bentley Systems Incorporated, General Electric, Maplarge, RMSI, Topcon Corporation and Google 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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