Geospatial Analytics Market to Reach $158.84 Bn, Globally, by 2027 at 14.2% CAGR: Allied Market Research

Increase in demand for AI-based geographic information system (GIS) solutions and usage of satellite monitoring to control the spread of coronavirus drive the growth of the global geospatial analytics market

News provided by

Allied Market Research

Dec 01, 2020, 08:20 ET

PORTLAND, Ore., Dec. 1, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Geospatial Analytics Market by Component (Solution and Service) Deployment Model (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium Enterprises), Solution (Geocoding & Reverse Geocoding, Data Integration & ETL, Reporting & Visualization, Thematic Mapping & Spatial Analysis, and Others), Type (Surface & Field Analytics, Network & Location Analytics, Geovisualization, and Others), Technology (Remote Sensing, GIS, GPS, and Others), Industry Vertical (Automotive, Energy & Utilities, Government, Defense & Intelligence, Smart Cities, Insurance, Natural Resources, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global geospatial analytics industry generated $58.35 billion in 2019, and is estimated to garner $158.84 billion by 2027, registering a CAGR of 14.2% from 2020 to 2027.

Drivers, restraints, and opportunities

Increase in demand for AI-based geographic information system (GIS) solutions, surge in demand for GIS software in smart cities development & urban planning, and usage of satellite monitoring to control the spread of coronavirus drive the growth of the global geospatial analytics market. However, high cost of GIS solutions and lack of stringent & extensive government regulations hinder the market growth. On the other hand, advent of new technologies and development of 4D GIS software present new opportunities in the coming years.

Download Report Sample (150 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/4306

COVID-19 Scenario

Government bodies have been utilizing geospatial analytics to gain insights on a real-time scenario of coronavirus-infected patients and track the spread through satellite monitoring. By taking a real-time scenario into consideration and understanding disease intensity & spread pattern based on past data, governments have been making crucial decisions to tackle the pandemic.
The demand for geospatial analytics has been increased to obtain high-quality geospatial data and effectively gain information in terms of setting-specific characterization of disease transmission, risk factors, and forecasts of pathogen & viral prevalence.
Various smartphone applications have been launched that help people to determine infected people in the vicinity and take safety measures.

Get detailed COVID-19 impact analysis on the geospatial analytics market:

https://www.alliedmarketresearch.com/request-for-customization/4306

The solution segment expected to maintain its leadership status during the forecast period

Based on component, the solution segment contributed to the highest market share in 2019, accounting for nearly two-thirds of the global geospatial analytics market, and is expected to maintain its leadership status throughout the forecast period. This is attributed to increase in requirement for geographic imaging among professionals for processing a massive amount of geospatial data every day. However, the service segment is expected to manifest the highest CAGR of 15.3% from 2020 to 2027, owing to rise in need for remote sensing, mapping consultancy, and GPS satellite surveying and positioning services in various industries.

The GPS segment to maintain its dominant share throughout the forecast period

Based on technology, the GPS segment accounted for the highest market share, contributing to nearly three-fifths of the global geospatial analytics market in 2019, and is projected to maintain its dominant share throughout the forecast period. This is attributed to adoption of mobile commerce and social media activities, penetration of 3G & 4G networks, and rise in application of GPS in industries including entertainment, media, and healthcare. However, the GIS segment is projected to grow at the fastest CAGR of 16.8% from 2020 to 2027. This is due to its widespread adoption for highway maintenance, accident analysis, traffic modeling, and route planning.

For Purchase Inquiry:

https://www.alliedmarketresearch.com/purchase-enquiry/4306

North America to maintain its highest contribution in terms of revenue by 2027

Based on region, North America contributed to the highest share in terms of revenue with nearly two-fifths of the global geospatial analytics market in 2019, and is expected to maintain its highest contribution by 2027. This is attributed to key players of the software industry establishing their strong presence in the countries such as the U.S. and Canada. However, Asia-Pacific is expected to grow at the highest CAGR of 16.7% during the forecast period, owing to business in emerging countries opting for geospatial analytics tools to extract insights from unstructured data.

Leading market players

Alteryx, Inc.
Bentley Systems, Incorporated
ESRI
Furgo NV
General Electric
Hexagon AB
Google, Inc.
MDA Corporation
Oracle Corporation
SAP SE
Trimble, Inc.
TOMTOM International, Inc.

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at:

hthttps://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Location-based Services Market is Expected to Reach $183.81 Billion by 2027

GPON Equipment Market Expected to Reach $55,551 Million by 2023

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter