The new report by Expert Market Research titled, ‘Global Geospatial Analytics Market Outlook, Size, Share, Scope, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global geospatial analytics market, assessing the market based on its segments like Component, Deployment mode, Solution, Technology, Industry vertical, Enterprise size, Type, and Regional market among others.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 79.8 billion
- Forecast CAGR (2023-2028): 12.7%
- Forecast Market Size (2028): USD 162.7 billion
The pandemic of COVID-19 has created enormous development prospects in the geospatial analytics sector. During the epidemic, the rising usage of smart wearables, robotics, and drones is aiding the growth of geospatial analytics solutions.
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Maps and GIS give significant insights to aid businesses in responding to the crisis, maintaining operational continuity, and assisting in the reopening process. GIS, analytics, and big data are just a few of the technologies that may be used to better comprehend the situation and make fast choices. The GIS-based meta-analysis is assisting in the understanding and analysis of COVID-19’s source and pattern.
The Geographical Information System (GIS) is also used to keep track of available resources and plan actions. It is possible to map COVID-19 confirmed and active cases to determine the source of infection. The mapping of demographic data aids in the monitoring of high-risk populations and vulnerable areas. To ensure business continuity, geospatial technology anticipates and analyses risk regions inside companies and assesses operational capacity.
Geospatial Analytics Industry Definition and Major Segments
Geospatial analytics is a technique of gathering and analysing real-time data based on geographic information systems (GIS) and images, as well as satellite pictures and other technologies, to correctly comprehend the dynamic link between demographics and geography.
In addition, geospatial analytics is being used in the industrial and automotive industries to improve communication between organisations and individuals. Geospatial analytics has a number of advantages, including the ability to record and process alternative services, modify existing orders, and process client movements.
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On the basis of Component, geospatial analytics market is categorized as:
- Solution
- Service
Based on the Deployment mode, geospatial analytics market is segmented into:
- On Premise
- Cloud
On the basis of Solution, geospatial analytics market is divided into:
- Geocoding and Reverse Geocoding
- Data Integration and ETL
- Reporting and Visualisation
- Thematic Mapping and Spatial Analysis
- Others
Based on the Technology, geospatial analytics market is segmented into:
- Remote Sensing
- GPS
- GIS
- Others
Based on the Industry Vertical, geospatial analytics market is categorized into:
- Automotive
- Energy and Utilities
- Government
- Defence Intelligence
- Smart Cities
- Insurance
- Natural Resource
Others
On the basis of Enterprise size, geospatial analytics market is segmented into:
- Large Enterprise
- Small and Medium Enterprise
Based on Type, geospatial analytics market is categorized into:
- Surface and Field Analytics
- Network and Location Analytics
- Geovisualisation
- Others
The major regional markets of geospatial analytics market are:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Geospatial Analytics Market Trends
The use of geospatial and geographic information systems is growing. The growing requirement to extract useful information from GIS and remote sensing data is propelling the geospatial analytics industry forward. According to industry experts, in the case of poverty and epidemics, prediction using deep learning methods is used to forecast the expansion of poverty across a certain region, the direction in which the epidemic will expand, and the necessary preventative actions.
Using deep learning and geographical data, a significant socioeconomic shift and effect may be achieved. Deep learning may be useful in the GIS field for predicting and validating geographical data. As a result, all of these factors are expected to provide attractive possibilities for the geospatial analytics market to grow throughout the projected period.
Key Market Players
The major players in the market are Oracle Corporation, Google LLC, Bentley Systems, Incorporated, ESRI, General Electric Co., Hexagon AB, Others, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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