Global Geospatial Analytics Market, By Component (Software and Solutions and Services), Type (Surface and Field Analytics, Network and Location Analytics, Geo-Visualization and Others), Application (Surveying, Medicine and Public Safety, Disaster Risk Reduction and Management, Climate Change Adaptation and Others), Vertical (Business, Automotive, Utility and Communication, Government, Defense and Intelligence, Natural Resources and Others), Technology (Remote Sensing, Geographical Positioning System (GPS), Geographic Information System (GIS) and Other Geospatial Analytics Technologies) - Industry Trends and Forecast to 2030.
Geospatial Analytics Market Analysis and Size
The key objective of geospatial analytics is to combine GIS technology with various scientific technology to process, transform, and validate useful information for business process. In addition, manufacturing and automotive industries are adopting geospatial analytics to provide better communication between organization and people. Geospatial analytics allows customers to capture and process different services, modifies existing orders, and processes customer moves. Rising adoption of computing and massive information analytics by the various end user verticals such as business, automotive, utility and communication, government, defense and intelligence, natural resources and others coupled with increased adoption of internet of things by small and medium scale enterprises factor attributable the growth of global geospatial analytics market over the forecast period of 2023 to 2030. The rise in the data volumes across the globe is one of the major factors driving the growth of the global geospatial analytics market.
Data Bridge Market Research analyses that the global geospatial analytics market which was USD 22,585.31 million in 2022, and is expected to reach USD 48,766.85 million by 2030, and expected to undergo a CAGR of 10.1% during the forecast period of 2023 to 2030. “Software and Solutions” dominates the component segment of the global geospatial analytics market due to demand from growing markets. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Geospatial Analytics Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Software and Solutions and Services), Type (Surface and Field Analytics, Network and Location Analytics, Geo- Visualization and Others), Application (Surveying, Medicine and Public Safety, Disaster Risk Reduction and Management, Climate Change Adaptation and Others), Vertical (Business, Automotive, Utility and Communication, Government, Defense and Intelligence, Natural Resources and Others), Technology (Remote Sensing, Geographical Positioning System (GPS), Geographic Information System (GIS) and Other Geospatial Analytics Technologies)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa
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Market Players Covered
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IBM Corporation (U.S.), Oracle (U.S.), Microsoft (U.S.), SAP SE (Germany), Hexagon AB (Sweden), GENERAL ELECTRIC COMPANY (U.S.), Alphabet Inc. (U.S.), IMS Software, Inc. (U.S.), Xevo (U.S.), ALTERYX, INC. (U.S.), DigitalGlobe (U.S.), Trimble Inc. (U.S.), Maxar Technologies (U.S.), L3Harris Technologies, Inc. (U.S.), BENTLEY SYSTEMS, INCORPORATED (U.S.), MapLarge (U.S.), TomTom International BV (Netherlands), Critigen (U.S.), Esri (U.S.), Autodesk Inc. (U.S.)
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Market Opportunities
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Market Definition
Analytics is an examination or analysis of data which is done with the help of techniques and tools such as artificial intelligence, data mining, machine learning, and multivariate statistics. Analytics is a process that involves the examination of raw data sets using scientific models, hypothesis and theories. Therefore, geospatial analytics incorporates the use of data and math to discover relationships and make predictions and forecast against uncertainties. In other words, geospatial analytics assists an organization in anticipating and formulating strategies for future.
Global Geospatial Analytics Market Dynamics
Driver
- Rising Expenditure for Research and Development Activities
Rising expenditure for research and development activities on geospatial analytics by the various end user verticals is creating lucrative growth opportunities for the market. Rising demand to streamline the business operations and advancements in geospatial analytics with the introduction of computing and massive information analytics will further induce growth in the geospatial analytics market value.
Opportunity
- Rising Adoption of Connected Devices by Medium and Small Scale Enterprises
Rising adoption of connected devices by medium and small scale enterprises will also propel growth in the demand for geospatial analytics. Rising digitization of economies especially the developing ones coupled with increasing use of GPS devices in the field of GIS is another growth opportunity for the global geospatial analytics market.
Restraint/Challenge
- Dearth of Skilled Professionals or Trained Personnel
The dearth of skilled professionals or trained personnel will pose a major challenge to the growth of global geospatial analytics market. Also, high costs associated with implementation and use of geospatial analytics will further create hindrances for the growth of global geospatial analytics market. Complexities involved in the development of geospatial analytics technology will also dampen the geospatial analytics market growth rate.
This global geospatial analytics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global geospatial analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2021, the Government of India's Department of Science and Technology (DST) announced several guidelines to liberalize geospatial data collection and distribution. This move permitted Indian companies, academic & research organizations, and other private entities to collect geospatial data to find solutions in their respective sectors
- In March 2020, India's Esri Global Inc. offered ArcGIS Online subscription with ArcGIS Hub for six-months under its Disaster Response Program. The company also provided a support team to the government and other agencies working on patient tracking and tracing
Global Geospatial Analytics Market Scope
The global geospatial analytics market is segmented on the basis of component, type, application, vertical and technology. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Software and Solutions
- Services
Type
- Surface and Field Analytics
- Network and Location Analytics
- Geo- Visualization
- Others
Application
- Surveying
- Medicine and Public Safety
- Disaster Risk Reduction and Management
- Climate Change Adaptation
- Others
Vertical
- Business
- Automotive
- Utility and Communication
- Government
- Defense and Intelligence
- Natural Resources
- Others
Technology
- Remote Sensing
- Geographical Positioning System (GPS)
- Geographic Information System (GIS)
- Other Geospatial Analytics Technologies
Global Geospatial Analytics Market Region Analysis/Insights
The global geospatial analytics market is analysed and market size insights and trends are provided by region, component, type, application, vertical and technology as referenced above.
The countries covered in the global geospatial analytics market report are U.S., Canada, Mexico, Brazil, Argentina, the Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and Rest of the Middle East and Africa
North America dominates the global geospatial analytics market because North America is home to renowned research institutions, universities, and technology companies that conduct cutting-edge research in photonics and integrated circuit technologies. This strong R&D ecosystem fosters innovation and drives advancements in geospatial analytics circuits.
Asia-Pacific is expected to be fastest growing country in the global geospatial analytics market during the forecasted period of 2023 to 2030 due to the Asia-Pacific region has a large and rapidly growing population, along with a significant increase in internet usage and data consumption. This drives the demand for high-speed and efficient communication networks, which can benefit from the use of geospatial analytics circuits. PICs are capable of integrating multiple optical components on a single chip, making them well-suited for high-speed data transmission and communication applications.
The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Global Geospatial Analytics Market Share Analysis
The global geospatial analytics market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global geospatial analytics market.
Some of the major players operating in the global geospatial analytics market are:
- IBM Corporation (U.S.)
- Oracle (U.S.)
- Microsoft (U.S.)
- SAP SE (Germany)
- Hexagon AB (Sweden)
- GENERAL ELECTRIC COMPANY (U.S.)
- Alphabet Inc. (U.S.)
- IMS Software, Inc. (U.S.)
- Xevo (U.S.)
- ALTERYX, INC. (U.S.)
- DigitalGlobe (U.S.)
- Trimble Inc. (U.S.)
- Maxar Technologies (U.S.)
- L3Harris Technologies, Inc. (U.S.)
- BENTLEY SYSTEMS, INCORPORATED (U.S.)
- MapLarge (U.S.)
- TomTom International BV (Netherlands)
- Critigen (U.S.)
- Esri (U.S.)
- Autodesk Inc. (U.S.)
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