Global Geospatial Analytics Market is valued at approximately USD 60.07 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.0% over the forecast period 2022-2029. Geospatial analytics assists in the collection, integration, display, manipulation, and analysis of geographical data through the use of GIS, earth observations, 3D scanning, satellite photos, mapping, and many other geospatial technologies. Geospatial data is becoming a crucial source of information for governments and corporations when making decisions concerning risk assessment and mitigation, disaster management, and urban development. The market is expanding owing to factors such as increase in the number of AI- and ML-based GIS solutions, development of smart cities and urbanization, and higher deployment of IoT sensors across locations. However, concerns related to geoprivacy and confidential data may hamper the growth of market.
According to the International Data Corporation, globally by the year 2025, it is projected that 162 zettabytes of digital data would be produced. Due to big data analytics ability to handle enormous volumes of acquired data as quickly as possible and hence facilitate business intelligence, its debut with GIS has led to an increase in growth potential for the new geospatial analytics suppliers. Furthermore, technical advancements in 4D GIS software and advancements in 5G communications technology is creating a lucrative growth to the market. However, high cost of GIS solutions and geospatial data barriers stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Geospatial Analytics Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. In the geospatial analytics industry, North America is anticipated to hold the greatest market share. Geospatial analytics has a very open market in North America. It is one of the markets for geospatial analytics that is most well-known. In sectors including transportation, utilities, agriculture, and construction, the bulk of players are situated in North America and largely rely on geospatial analytics tools. The growing investments in location-based technologies are predicted to hasten the adoption of geospatial technology and applications in North America.
Major market players included in this report are:
Blue marbel geographics
Recent Developments in the Market:
In August 2022, Esri reaffirmed its affiliation with the National Technical Information Services of the US Department of Commerce (NTIS). Through this collaboration, government organisations will be able to employ Esri's technology to tackle challenging issues that frequently have an impact on the local, national, and worldwide levels.
In July 2022, TomTom and Stellantis collaborated to provide the recently released Opel Astra with the latter's full stack navigation system. The navigation solution comprised new over-the-air updates for up-to-date and accurate maps, very convenient connected services, and new map-based advanced driver assistance system (ADAS) features for greater safety.
In January 2022, With the use of integrated and improved data, ideal site analysis and path design, and customised client experiences, Blueprint Technologies and Precisely have established a partnership to help businesses gain a competitive edge.
Global Geospatial Analytics Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component, Solution, Type, Technology, Organization Size, Deployment Mode, Application, Vertical, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:
Geocoding & Reverse Geocoding
Data Integration & ETL
Thematic Mapping & Spatial Analysis
Global Positioning System
Geographic Information System
Surfacing & Files Analytics
Network & Location Analytics
By Deployment Mode:
By Organization Size:
Medicine & Public Safety
Disaster Risk Reduction & Management
Transportation Planning & Management
Energy & Utilities
Defense & Intelligence
Rest of the World