PUNE, India, April 13, 2023 (GLOBE NEWSWIRE) — The Global Geographical Analysis Market The size was valued at around USD 56.88 billion in 2020. The market is projected to grow from USD 63.61 billion in 2021 to USD 147.58 billion by 2028 at a CAGR of 12.8% during 2021-2028. The expansion is due to the growth and urbanization of smart cities, and the integration of IoT sensors in industries. Fortune Business Insights™ mentions these insights in its latest research report, titled, “Geospatial Analytics Market Forecast, 2023-2028.”
Major Industry Developments:
MapmyIndia along with Indian Space Research Organization (ISRO) rolled out geospatial solution for indigenous location and local data mapping to integrate ISRO’s telematics and location data.
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Report scope and segmentation
| Report coverage | Details |
| Forecast period | From 2021 to 2028 |
| Forecast period 2021 to 2028 CAGR | 12.8% |
| 2028 price projection | USD 147.58 billion |
| base year | 2020 |
| Geospatial Analytics Market Size in 2020 | USD 56.88 billion |
| Historical data for | From 2017 to 2019 |
| Number of pages | 180 |
| Sections covered | Component, Deployment, Enterprise, Application, End User |
According to the study, the trend of AI in the medical and healthcare sector will boost the growth of the industry. Industry players are expected to explore machine learning and AI in geospatial data to increase efficiency and provide advanced solutions to end-users.
Key takeaways:
- The geospatial analytics market size in North America was USD 18.62 billion in 2020
- Key driving factors include widespread usability and advancements in location-based technology
- The cloud based geospatial analytics solutions segment holds the largest share in the global market.
- Global demand is driven by the defense and internal security segment
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Drivers and restrictions:
Traction for location-based technology (LBT) to boost ROI
Industry players are likely to inject funds into location-based technology for geospatial modeling, asset tracking, and route optimization. End users such as retail, manufacturing, and transportation have the potential to expand their presence in untapped areas through the adoption of Geographic Information System (GIS) integrated LBT. Moreover, the growing number of AI-based GIS solutions and the rise of smart cities will bode well for companies looking to increase their ROI.
However, budget constraints for small and medium-sized enterprises and high costs associated with services may hinder the growth of the market.
Division:
Components, deployment, enterprise size, application, end user, and region are studied
On the basis of component, the market is segmented into solutions and services. The solutions segment is sub-segmented into data integration and ETL, geocoding and reverse geocoding, thematic mapping and spatial analysis, reporting and visualization, and others.
In terms of deployment, the market is segmented into cloud and on-premises.
In terms of enterprise size, the industry includes large enterprises and small and medium-sized enterprises (SMEs).
By application, the market is segmented into disaster management and risk reduction, public safety and drug delivery, surveying, climate change adaptation, and others.
By end-user, the market is segmented into defense and homeland security, retail and logistics, government, banking, financial services and insurance (BFSI), energy and utilities, agriculture, healthcare and life sciences, infrastructure and urban development, and others.
In terms of region, the market includes North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Regional Insights:
Bullish demand from mining to provide attractive opportunities in North America
End-users in the United States and Canada are likely to exhibit strong demand for geospatial solutions including geocoding, reporting and visualization and thematic mapping. Advanced technologies will be sought in key applications including military and defense and mining. Organizations are injecting funds into GIS-based technologies and location-based solutions to coordinate and plan geological, geophysical and topographic data and information about natural resources. Moreover, the emergence of mobile-based GIS solutions is also likely to boost regional growth.
Asia Pacific is expected to witness a lot of investment on the back of expanding smart cities and growing economies. Also, the infusion of funds into 5G networks will further strengthen the position of leading companies to strengthen their presence in untapped areas. Asia Pacific geospatial analytics market share is expected to witness appreciable gains due to investment in IoT infrastructure.
The Middle East and Africa is poised to emerge as an attractive destination due to the penetration of 5G infrastructure and demand for connected vehicles. Moreover, the presence of major automakers has encouraged major companies to invest in the sector.
List of key players mentioned in the report:
- Alteryx (California, USA)
- Microsoft Corporation (New Mexico, USA)
- Bentley Systems, Incorporated (Pennsylvania, US)
- Carto (New York, USA)
- Descartes Labs, Inc. (New Mexico, USA)
- Esri (California, USA)
- Google LLC (Alphabet Inc.) (California, US)
- Pitney Bowes (Connecticut, USA)
- TomTom (Amsterdam, Netherlands)
- Fugro (Leidschendam, Netherlands)
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Table of main contents:
- Global Geospatial Analytics Key Players Market Share Insights and Analysis, 2020
- Key market insights and strategic recommendations
- Companies profile
- Observation
- Key management
- Headquarters etc
- Proposals/Business Sections
- Key details
- Staff size
- Chief Financial Officer
- Past and present revenue
- Gross margin
- Geographical sharing
- Business segment shares
- Recent developments
- Observation
- Appendix / Appendix
- Global Geospatial Analytics Market Size Estimates and Forecasts (Quantitative Data), by Segments, 2017-2028
- by component (USD).
- Solution
- Data integration and ETL
- Geocoding and reverse geocoding
- Thematic mapping and spatial analysis
- Reporting and Visualization
- Others (network analysis, geovisualization)
- Services
- Solution
- By deployment (USD).
- By Enterprise Size (USD).
- Large enterprises
- Small and Medium Enterprises (SMEs)
- By Application (USD)
- Disaster Management and Risk Reduction
- Public safety and drug distribution
- Conducting a survey
- Climate change adaptation
- Others (sales and marketing optimization, supply chain management)
- By End User (USD)
- Defense and Internal Security
- Retail and logistics
- Government
- Banking, Financial Services and Insurance (BFSI)
- Energy and Utilities
- agriculture
- Healthcare and Life Sciences
- Infrastructure and Urban Development
- Others (Education, Media and Entertainment)
- By Region (USD)
- North America
- South America
- Europe
- Middle East and Africa
- Asia Pacific
- by component (USD).
- North America Geospatial Analytics Market Size Estimates and Forecasts (Quantitative Data), by Segments, 2017-2028
- by component (USD).
- solution
- Data integration and ETL
- Geocoding and reverse geocoding
- Thematic mapping and spatial analysis
- Reporting and Visualization
- Others (network analysis, geovisualization)
- Services
- solution
- By deployment (USD).
- By Enterprise Size (USD).
- Large enterprises
- Small and Medium Enterprises (SMEs)
- By Application (USD)
- Disaster Management and Risk Reduction
- Public safety and drug distribution
- Conducting a survey
- Climate change adaptation
- Others (sales and marketing optimization, supply chain management)
- By End User (USD)
- Defense and Internal Security
- Retail and logistics
- Government
- Banking, Financial Services and Insurance (BFSI)
- Energy and Utilities
- agriculture
- Healthcare and Life Sciences
- Infrastructure and Urban Development
- Others (Education, Media and Entertainment)
- by country (USD)
- United States of America
- Canada
- Mexico
- by component (USD).
- Global Geospatial Analytics Market Size Estimates and Forecasts (Quantitative Data), by Segments, 2017-2028
TOC Continued…!
FAQs
How Big is the Geospatial Analytics Market?
The Geospatial Analytics market size was USD 56.88 billion in 2020. It is expected to reach USD 147.58 billion by 2028.
How fast is the Geospatial Analytics market growing?
The geospatial analytics market will exhibit a CAGR of 12.8% during the forecast period, 2021-2028.
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