Geospatial Analytics Market Size to Reach USD 134.23 Billion in 2028 | Rising Use of GIS for Tracking COVID-19 Infected Individuals Following the Pandemic Outbreak are Some Key Factors Driving Industry Demand, says Emergen Research
VANCOUVER, BC, Oct. 6, 2021 /PRNewswire/ -- The global geospatial analytics market size is expected to reach USD 134.23 Billion and register a revenue CAGR of 12.1% during the forecast period, according to latest analysis by Emergen Research. Some key factors driving market revenue growth include rising deployment of Geographic Information System (GIS) for tracking COVID-19-positive patients and rapidly increasing traction and deployment of technologies such as GIS, big data and analytics by epidemiologists to study the pattern of epidemics such as Polio and Ebola. New technological advancements in cost-effective geospatial analytics systems is another factor driving revenue growth of market.
For instance, Artificial Intelligence (AI) and Machine Learning (ML) based GIS is being used by governments in countries across the globe to get real-time data and monitor COVID-19 infection and spread. Rapid increase in adoption of cloud technologies by SMEs in order to achieve more efficient performance is another factor contributing to market revenue growth.
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Key Highlights From the Report
- In December 2019, Pitney Bowes' software and data business was acquired by Precisely with an aim to help companies make better decisions by using geospatial analytics.
- In December 2019, Oracle announced that it will use ML, graph, and spatial feature of Oracle for the deployment of on-premise and cloud database services with an aim to enhance the benefits of Oracle's multimodal converged architecture.
- In July 2019, SAP announced that ESRI will support the SAP cloud platform and DAP HANA services. This allows organizations to run SAP HANA for ArcGIS systems.
- Asia Pacific is expected register fastest revenue CAGR during the forecast period, owing to increasing number of development projects in countries such as India, Pakistan, China, and Japan. Rapid urbanization, steady smartphone penetration in developing countries in the region, and rising adoption of AI-based GIS systems by organizations are other key factors driving market growth.
- The on-premise segment accounted for largest market share in 2020 owing to high preference as a result of various advantages such as better security and data privacy features.
- Major companies operating in Intelligent power module are ESRI, Precisely, Oracle Corporation, Alteryx, Fugro N.V., Hexagon AB, RMSI, SAP, Trimble Navigation Ltd., and Maxar Technologies.
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For this report, Emergen Research has segmented the global Geospatial analytics market based on component, solution, application, deployment type, and region.
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Solutions
- Services
- Solution Outlook (Revenue, USD Billion; 2018–2028)
- Geocoding and Reverse Geocoding
- Data Integration and ETL
- Reporting and Visualization
- Thematic Mapping and Spatial Analysis
- Others (DBMS and Data Storage Software)
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Surveying
- Medicine and Public Safety
- Disaster Risk Reduction and Management
- Climate Change Adaptation
- Others (Supply Chain Planning and Optimization, Sales and Marketing Optimization, Predictive Asset Management, and Inventory Management)
- Deployment Type Outlook (Revenue, USD Billion; 2018-2028)
- On-Premise
- Cloud
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- BENELUX
- Sweden
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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