The geospatial analysis market size is estimated to be $ 40 billion in 2019, with an annual average increase of + 18% from 2019 to 2024 by 2024, to +24 billion.
Advances geospatial analysis by introducing artificial intelligence and big data analytics
Artificial intelligence is the simulation of human intelligence by various machines, especially computer-based systems, to perform a variety of tasks quickly and with minimal errors. As geospatial technology advances, the frequency and amount of data collection are growing exponentially. The main challenge for various businesses around the world is to manage this vast amount of data. Artificial intelligence and machine learning allow organizations to process gigabytes of geospatial data and generate actionable insights to make informed business decisions.
The rapid adoption of geospatial technologies in a variety of industries, along with the introduction of other technologies such as cloud services, embedded sensors, and social media, has made data mapping and analysis very complex. Big data analytics has increased the growth opportunities for new geospatial analytics vendors because big data analytics can process large amounts of data in the shortest possible time. Therefore, the demand for geospatial analytics with artificial intelligence and big data capabilities is expected to increase in the future, and the geospatial analytics market is expected to grow during the forecast period.
High Cost of Geospatial Analysis Solutions
The geospatial analysis industry has grown over the last decade, and the number of applications where geospatial information is used is increasing every year. However, the high cost of geospatial analytics solutions is limiting the growth of the geospatial analytics industry. The development of geospatial analysis solutions for real-time data collection increases the complexity of GIS software. The software costs are high due to the complexity associated with GIS software development and real-time data collection. This prevents companies with limited financial resources from investing in commercial geospatial solutions. Implementing geospatial analytics solutions requires a large initial investment, resulting in lower adoption rates for SMBs.
Increasing use of location-based services
The variety of location-based services used in web and mobile-based applications and advanced image and sensor solutions has significant growth opportunities in the geospatial analytics market. The navigation system incorporates numerous location-aware systems and technologies to improve reliability and intelligence to ensure the smooth operation of the transportation network. You can also use location as an attribute to develop other applications and systems that perform tasks for use in other industries. As a result, the use of location-based services in other industries around the world can be a growth opportunity for the geospatial analytics market.
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Key Market Segments:
Key Market players:
Alteryx (US), Digital Globe (US), Fugro N.V. (Netherlands), Hexagon (Sweden), RMSI (India), SAP (Germany), Trimble Navigation (US), Maxar Technologies (Canada), Map Large (US), Harris Corporation (US), Bentley Systems (US), ESRI (US), General Electric (US), Pitney Bowes (US), Oracle (US), and Google (US).
- Software & Solutions
- Surface & Field Analytics
- Network & Location Analytics
- Medicine & Public Safety
- Disaster Risk Reduction & Management
- Climate Change Adaptation
- Utility & Communication
- Defense & Intelligence
- Natural Resources
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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The Goal of the study:
- Define, describe, classify, and forecast geospatial analytics markets based on components, types, applications, verticals, and geographies
- Analysis of various macro and microeconomic factors affecting market growth
- Predicting the size of market segments for five major regions of North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- It provides detailed information on key factors such as drivers, restraints, opportunities, and challenges that affect market growth.
- Strategically analyze each sub-market with regard to individual growth trends, forecasts, and contributions to the overall market
- Analyze market opportunities for stakeholders by identifying high growth segments
- Use in-house statistical tools to understand the competitive environment of the market, profiling key market players and providing comprehensive analysis based on business overview, product offerings, regional presence, business strategy, and key financials.
- Track and analyze competitive developments in the market, such as acquisitions and mergers, product development, contracts, partnerships and collaborations, and R & D activities.
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Table of Content:
Chapter 1 Global Geospatial Analytics Market Overview
Chapter 2 Global Economic Impact on Geospatial Analytics Industry
Chapter 3 Global Geospatial Analytics Market Competition by Manufacturers
Chapter 4 Global Geospatial Analytics Production, Revenue (Value) by Region
Chapter 5 Global Geospatial Analytics Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Geospatial Analytics Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Geospatial Analytics Market Analysis by Application
Chapter 8 Geospatial Analytics Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Geospatial Analytics Market Forecast
Chapter 13 Appendix
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