Global Geospatial Analytics Market Size, Share, Growth Analysis, By Component Analysis(Solution, service), By End-User(Defense, Internal Security), By Application(Disaster Management, Risk Reduction), By Deployment Mode(Cloud, On-premises), By Organization Size(Small, medium-sized enterprises) - Industry Forecast 2022-2028

The global geospatial analytics market is segmented on the basis of component analysis, end-user, application, deployment mode, organization size, and region. Based on component analysis, the market is segmented into solutions and services. Based on end-user, the market is segmented into defense and internal security, retail & logistics, government, banking, financial services, and insurance (bfsi), energy and utilities, agriculture, healthcare & life sciences, infrastructure & urban development, and others. Based on the deployment mode, the market is segmented into cloud and on-premises. Based on organization size, the market is segmented into small and medium-sized enterprises and large size enterprises. Based on application, the market is segmented into disaster management and risk reduction, public safety and medline delivery, surveying, climate change adaptation, and others. Based on region, the global geospatial analytics market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.

Analysis by Component Analysis

Based on application, the geospatial analytics market is divided into four categories: surveying, climate change adaptation, public safety and medicine delivery, disaster management, and risk reduction. The market share leader was the surveying application. The segment's expansion is being fueled by the expanding usage of geospatial analytics across numerous industries, including security and military, architecture, engineering, and construction, oil and gas industry, and utilities. Better decision-making, increased trustworthiness, record-keeping, and better land management are further advantages of surveying. These elements support the predominance of surveying segments.

Analysis by End-User

Market segments include agriculture, utility and communication, defense and intelligence, government, and natural resources based on end-user. The global market for military and security is large. In order to provide situational awareness information, modern military and intelligence organizations mainly rely on cutting-edge technologies including artificial intelligence (AI), thermal technology, location, and geographic data. These benefits improve natural security and enable quick decision-making. Remote sensing technology can be used by military forces to obtain vital information that will aid in their strategic decision-making. Over the coming years, healthcare services are anticipated to grow at the quickest rate. In order to pinpoint the ideal areas to concentrate on health issues, GIS can be used to geocode data from surveillance systems or health surveys.

Analysis by Application

Based on application, the geospatial analytics market is divided into four categories: surveying, climate change adaptation, public safety and medicine delivery, disaster management, and risk reduction. The market share leader was the surveying application. The segment's expansion is being fueled by the expanding usage of geospatial analytics across numerous industries, including security and military, architecture, engineering, and construction, oil and gas industry, and utilities. Better decision-making, increased trustworthiness, record-keeping, and better land management are further advantages of surveying. These elements support the predominance of surveying segments.

Analysis by Deployment Mode

The geospatial analytics market is divided into on-premises and on the cloud. The most popular geospatial analytics products are cloud-based. These cloud-based technologies are able to send data, pictures, and maps on demand. Cloud-based geospatial analytics systems can be accessed through private, public, hybrid, or community cloud services, depending on your security, collaboration, and ownership needs. The ability for businesses to see, produce, monitor, manage, and analyze geographic data is provided by the cloud, which is a shared infrastructure. For cost-saving and security reasons, many businesses are still developing cloud-based analytics solutions. On-premises implementation is therefore anticipated to experience a moderate adoption rate.

Analysis by Organization Size

In 2021, large businesses accounted for the highest proportion of the global geospatial analytics market. These businesses have a greater propensity for geospatial technologies as a result of the development of high-precision location-based data and analytical solutions.

Over the coming years, small and medium-sized firms are anticipated to grow faster. The increasing usage of location data in these businesses is one aspect of that growth. Another is the rising usage of cloud technology, which aids these companies in performing better.

Construction, agriculture, transportation, and utilities all make extensive use of geospatial analytics technologies, such as GIS and GPS. In 2021, North America is anticipated to account for a sizable portion of the geospatial analytics market. The market is expanding due to the presence of technology businesses and their expanding use of AI and machine learning. North America holds the greatest share of the geospatial analytics market, thanks in part to the oil and gas industry, the growth of 5G infrastructure, the rising demand for connected vehicles, the presence of international players from the automotive industry, and the robust healthcare sector.

The geospatial analytics market in Asia-Pacific is anticipated to grow at the fastest rate. China is making investments in the creation of a spaceborne-airborne monitoring system in order to increase its capacity for early warning and to enhance the safety, security, and well-being of its populace. The development of geospatial analytics in the nation is also being fueled by a government program. Additionally, the logistics industry's use of mobility as a service is a rapidly expanding trend in India. Using cutting-edge technology like LiDAR, Indonesian businesses are expanding the market for geospatial technologies there. As an illustration, Terra Drone Indonesia, a subsidiary of Terra Drone Corporation, offered aerial surveying and mapping services based on LiDAR to building firms.

In the next five years, it is expected that the Middle East and Africa will experience a rapid increase in the number of connected vehicles due to rising demand, particularly in nations with new 5G infrastructure. Numerous businesses have decided to invest in the area because of the presence of major automakers.

Driver

• In order to give enterprises deeper insights, geospatial analytics solution providers like ESRI and SAP use AI and ML-based solutions. The development of drones and satellite imagery equipment has accelerated recently. These observations can be used to track the provision of municipal services and pinpoint areas where they can be enhanced. A profit pool for the focused marketing of items based on consumer interest is the accessibility of big data gathered from demographic data in marketing management. As a result, the geospatial analytics market is anticipated to increase as a result of technological advancements and its use across an increasing number of sectors.
• GIS (geographic information system) software aids smart cities in data optimization and better infrastructure, land acquisition, and city planning decisions. GIS is a tool used by civil engineers to assess and visualize infrastructure and land. GIS can be used as a tool for operations, design, or planning. Planners are able to see the land in great detail thanks to the use of remote sensors, aerial photography, and satellite imaging. The advantage of this GIS software is accelerating the demand for geospatial analytics.

Restraint

• The usage of GIS software is made possible by urban growth. There has also been an upsurge in privacy-related public anxiety. Government restrictions and regulations apply to the gathering, storage, distribution, and use of location-based information. Companies that gather user location data must abide by a number of data privacy laws, including the General Data Protection Regulation and laws controlling sensitive personal data or information. The availability of user location data has a constraint on whether enterprises will use these analytics tools. Concerns over privacy and the expensive cost of the services could limit market expansion.

The global geospatial analytics market is relatively fragmented, with a high level of competition. Few large players, like Alteryx, Inc., Digital Globe, Fugro N.V., Hexagon AB, RMSI, SAP SE, Trimble Inc., Maxar Technologies Inc., Map Large, Harris Corporation, Bentley Systems Incorporated, ESRI, General Electric Company, Oracle Corporation, and Google LLC now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.

Top Players in the Global Geospatial Analytics Market

• ESRI (U.S.)
• Oracle Corporation (U.S.)
• Alteryx, Inc. (U.S.)
• Fugro N.V. (Netherlands)
• Hexagon AB (Sweden)
• RMSI Pvt. Ltd., India (India)
• SAP SE (Germany)
• Trimble Inc. (U.S.)
• L3Harris Technologies, Inc. (U.S.)
• General Electric Company (U.S.)
• TomTom N.V. (Netherlands)
• Autodesk, Inc. (U.S.)
• Google LLC (U.S.)
• Atkins (U.K.)
• AAM Pty Ltd. (Australia)
• Orbital Insight (U.S.)
• Cyient Limited (India)
• Precisely (U.S.)
• HERE (Netherlands)
• CARTO (U.S.)

Recent Developments

• In May 2022, Hexagon AB company declared that the company Intergraph G/Technology is now obtainable on the Oracle cloud infrastructure. The modern deployment options offer utility operators a secure, scalable geographic information solution with lowered start-up prices and required infrastructure.
• In March 2022, Precision Hawk declared a partnership with Esri company. The partnership will bring the best in geospatial intelligence by combining Precision Hawk’s industry-leading AI with Esri ArcGIS technology, the globe’s most dynamic spatial and mapping analytics software.
• April 2022, Oracle launched a complete employee experience platform to help the organization and support employee success with new solutions for listening, communication, productivity, and engagement.
• In May 2021, Esri, the global leader in location intelligence, announced its location analytics product ArcGIS Insights, which now supports connecting to cloud-native databases, including Snowflake, Google Big Query, Amazon Redshift, Microsoft Azure SQL, and others.

• The rollout of 5G network services is predicted to open up new prospects for geospatial analytics suppliers because 5G technology can be used to capture extremely accurate geographical data. The low-band, mid-band, and high-band spectrum would be the main three bands that the 5G network would operate on. Sub-1GHz spectrum is another name for the low-band spectrum. It quickly runs out of spectrum since it is mostly used by carriers. In comparison to a low band, the mid-band spectrum offers quicker coverage and lower latency. In contrast to a low-band spectrum, a mid-band spectrum is unable to enter structures. The term "mmWave" is frequently used to describe a high-band spectrum. It features low latency and peak speeds of up to 10Gbps. Small cells are necessary for the implementation of 5G because they facilitate connections between users and 5G transceiver towers. Due to their massive antenna arrays and expansive bandwidths, 5G networks are anticipated to soon be able to provide device positioning. Particularly in Line of Sight (LOS) circumstances, these would have extremely accurate Direction-of-Arrival (DOA) and Time-of-Arrival (TOA) estimation. A crucial component of the development of the 5G infrastructure is geospatial data. The telecom sector's demand for geospatial analytics solutions is anticipated to increase as a result in the near future.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, commercialization of geospatial data, integration of geospatial data with other key technologies, rising demand for geospatial solutions across industries, use of geospatial analytics in new and novel applications, technological advancements, and application of geospatial analytics for security solutions globally are the factors that are propelling the market's growth. The high initial and ongoing expenses of these technologies, as well as operational issues, are limiting the growth of the geospatial analytics market and, taken together, are contributing to the delayed uptake of geospatial analytics globally. This market expansion is hampered by the lack of supporting infrastructure for geospatial technologies and the challenges involved in integrating geospatial technologies with other technologies.