The rising number of Artificial Intelligence and Machine learning -based GIS solutions and expansions in big data analytics is driving the Global Geospatial Analytics Market.
According to TechSci Research report, “Global Geospatial Analytics Market – By Region, Competition, Forecast & Opportunities, 2028”, The primary goal of Global Geospatial Analytics Market is to connect GIS technology with other scientific technologies to process, convert, and evaluate important information for business operations, hence, it is projected that the market for geospatial analytics will have healthy growth in the next years. As a way to enhance business-customer communication, geospatial analytics are widely applied in the automotive and industrial industries. Due to the use of geospatial analytics, customers may record and perform a variety of services, modify already-placed orders, and manage client transfers. As of the fourth quarter of 2019, the COVID-19 pandemic generated an imbalanced health condition across the world which , resulting in the implementation of lockdowns and severe restrictions designed to maintain social distance. As a result, the majority of economies have imposed a total shutdown in an effort to limit this pandemic, which has resulted in a decline in corporate activity. Industries including manufacturing and transportation have been negatively impacted which has worsened the economic climate and led to enormous financial losses and job losses. However, this pandemic has accelerated the market for geospatial analytics, which is expected to double in size over the course of the forecast period. In addition, high-quality geospatial data enables models to effectively provide information in terms of providing risk factors, setting-specific characterization of disease transmission, and forecasts of pathogen & viral prevalence, according to a study conducted at the Institute for Disease Modelling, Seattle. Moreover, a number of governmental organizations are implementing geospatial analytics to obtain real-time scenarios for monitoring the coronavirus’s progress and accurate and continuous updating of afflicted individuals. For instance, partnerships and cross-sectoral collaboration have accelerated market growth. For example, the Ministry of Public Health in Tunisia created a georeferenced database on the number of hospital beds, the required medical equipment (such as operable respirators and monitors, syringe pumps, and personal protective equipment), and the related medical personnel. Esri, Graphtec, and the African Association for Geospatial Development are the principal companies and institutions associated in this collaboration
Based on deployment mode, the on-premises category has the biggest market share in the global geospatial analytics, which is expected to drive geospatial analytics market expansion globally. This is because the on-premises implementation has several benefits, including a high degree of data protection and safety, which is expected to boost the geospatial analytics market during the forecast period. The cloud segment, is also expected to increase at a fast rate during the forecast period. As all data is saved on the cloud server, cloud deployment doesn’t require an investment in IT infrastructure, which raises the demand for geospatial analytics software among small and medium-sized businesses.
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In terms of regional, the global geospatial analytics market is segmented into North America, South America, the Middle East & Africa, Asia-Pacific & Europe. North America is dominating the geospatial analytics market and is expected to register a healthy CAGR during the forecast period. This is a result of the geospatial analytics market’s anticipated growth and, North America is anticipated to hold the greatest market share for geospatial analytics. The region is home to a number of technological companies and these companies are using artificial intelligence and machine learning more often. Government rules that facilitate seamless geospatial data exchange between private businesses also aid in the expansion of this sector. Additionally, North America is expected to hold the largest share of the geospatial analytics market thanks to the expansion of the oil and gas industry, the development of 5G infrastructure, the rising demand for connected vehicles, the presence of international players in the automotive industry, and the region’s strong healthcare infrastructure.
Key market players in the Global Geospatial Analytics Market include:
- Esri Global, IncPrecisely Holdings, LLCBlue Marble Geographics
- eSpatial
- HexagonAB
- TomTom International BV
- Trimble Inc.
- Maxar Technologies Inc
- RMSI
- MapLarge, Inc.Fugro
- Orbital Insight, Inc.Mapidea
- SkyMap Global Pte Ltd
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“Increased demand for AI-based GIS solutions and increased need for geospatial analytics in urban planning and smart city development are two major factors influencing the growth of the worldwide geospatial analytics market. Additionally, using satellite surveillance to stop COVID-19 from spreading has a good effect on the market’s expansion. The high price of geospatial analytics, regulatory concerns, and the dearth of comprehensive government policies toward geospatial analytics are all predicted to have an even greater impact on industry growth. Moreover, during the forecast period, the market growth is expected to be significantly impacted by the adoption of cloud-based GIS and the rise in the use of AR and VR technologies in the geographic information system. However, each of these factors are projected to have a definite impact on the growth of the geospatial analytics market. Therefore, geospatial analytics is expected to fuel the market at a global level in the upcoming years Mr Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Geospatial Analytics Market By Compo (By Component (Solution and Service), By Deployment Mode (On-Premises and Cloud), By Vertical (Energy & Utilities, Government, Defense & Intelligence, BFSI, Real Estate & Construction, Agriculture, Healthcare, Others), By Applications (Surveying, Urban Planning, Natural Resources Management, Medicine & Public Safety, Environmental Impact Analysis, Others), By Region, Competition, Forecast & Opportunities, 2028”, has evaluated the future growth potential of global geospatial analytics market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Geospatial Analytics Market.
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