The Geospatial Solutions Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Geospatial Solutions Global Market Report 2024, The geospatial solutions market size has grown rapidly in recent years. It will grow from $491.78 billion in 2023 to $560.18 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to demand for location-based services (lbs), infrastructure development, environmental monitoring and conservation, rise of smart cities, precision agriculture.
The geospatial solutions market size is expected to see rapid growth in the next few years. It will grow to $1009.56 billion in 2028 at a compound annual growth rate (CAGR) of 15.9%. The growth in the forecast period can be attributed to climate change monitoring, global navigation satellite system (GNSS) enhancement, natural resource management. Major trends in the forecast period include artificial intelligence (AI) and machine learning (ML) integration, satellite technology advancements, geospatial analytics for business intelligence, 5G connectivity for geospatial applications, indoor mapping and navigation.
Growing research activities regarding space and earth and continuous investments in research activities are expected to propel the growth of the geospatial solutions market going forward. Governments all around the world are investing in geospatial technologies to improve national, regional, and global emergency response capabilities as well as to promote human health, security, and well-being. For instance, in June 2023, according to the U.S. Bureau of Economic Analysis, a US-based government agency, in the year 2021, the economic activities related to space in the United States contributed to a gross output of $211.6 billion, comprising $129.9 billion (equivalent to 0.6 percent) of the Gross Domestic Product (GDP). Additionally, this sector generated $51.1 billion in private industry compensation and supported approximately 360,000 jobs within the private industry. Therefore, growing research activities regarding space and earth and constant investment in research activities are expected to propel the geospatial solutions market growth.
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The geospatial solutions market covered in this report is segmented –
1) By Solution Type: Hardware, Software, Service
2) By Technology: Earth Observation, Scanning, Other Technologies
3) By Application: Surveying and Mapping, Geovisualization, Planning and Analysis, Land Management, Other Applications
4) By End-User: Utility, Business, Transportation, Defense and Intelligence, Infrastructural Development, Other End-Users
Major companies operating in the geospatial solutions market are focused on developing innovative solutions such as geospatial platforms. A geospatial platform is a comprehensive and integrated system that facilitates the collection, storage, analysis, and visualization of geospatial data. For instance, in July 2023, Maxar Technologies Inc., a US-based space technology company launched the ‘Maxar Geospatial Platform (MGP)’. It enables quick and convenient access to the most sophisticated Earth intelligence available globally. The platform aims to streamline the process of discovering, acquiring, and incorporating geospatial data and analytics, simplifying the overall experience. Users of MGP will be able to utilize Maxar’s top-tier geospatial content, which includes high-resolution satellite imagery, visually appealing image base maps, 3D models, analysis-ready data, as well as change detection and analytical outputs derived from imagery.
The geospatial solutions market report table of contents includes:
1. Executive Summary
2. Geospatial Solutions Market Characteristics
3. Geospatial Solutions Market Trends And Strategies
4. Geospatial Solutions Market – Macro Economic Scenario
5. Global Geospatial Solutions Market Size and Growt
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26. South America Geospatial Solutions Market
27. Brazil Geospatial Solutions Market
28. Middle East Geospatial Solutions Market
29. Africa Geospatial Solutions Market
30. Geospatial Solutions Market Competitive Landscape And Company Profiles
Top Major Players:
- Apple Inc
- Alphabet Inc
- Microsoft Corporation
- Amazon Web Services Inc
- The International Business Machines Corporation
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