USD 68.5 billion
Report ID: SQSG45E2026 | Region: Global | Published Date: October, 2022 | Pages: 274 | Tables: 156 | Figures: 78
Global Geospatial Analytics Market size was valued at USD 68.5 billion in 2021 and is poised to grow from USD 79.8 billion in 2022 to USD 273.6 billion by 2030, growing at a CAGR of 16.63% in the forecast period (2023-2030).
Currently, over 40% of the global geographic information system (GIS) market is made up of geospatial analytics. Over the past few years, the ability of artificial intelligence (AI) and machine learning (ML) to evaluate GIS data has significantly improved. Organizations can gain better insights by combining geographical data with artificial intelligence and machine learning. Artificial intelligence technology and various GIS processes, such as spatial data analysis algorithms, are combined to create AI GIS (artificial intelligence geographic information system). In recent years, the primary focus of geoscience research and applications has shifted to AI GIS. As a result, the market is being driven by an increase in the use of artificial intelligence and machine learning in GIS solutions. Geographic information system firms are providing both existing and new data to the telecommunications industry with the aid of technologically advanced 5G networks. The geospatial analysis provides physical information on cities and landscapes, as well as data on the climate, wildlife, and populace. Network designers and radio engineers now have access to comprehensive information about GIS parameters thanks to the 5G network data. Players in geospatial analytics are benefiting from technological developments in 5G communication technologies.
US Geospatial Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 68.5 billion
Largest Segment
cloud
Fastest Growth
cloud
Growth Rate
16.63% CAGR
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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 Geospatial Analytics Market is segmented into solutions and services. Based on end-user, the Geospatial Analytics 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 Geospatial Analytics Market is segmented into cloud and on-premises. Based on organization size, the Geospatial Analytics Market is segmented into small and medium-sized enterprises and large size enterprises. Based on application, the Geospatial Analytics 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.
Geospatial Analytics Market 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.
Geospatial Analytics Market 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.
Geospatial Analytics Market 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.
Geospatial Analytics Market 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.
Geospatial Analytics Market 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.
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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.
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Geospatial Analytics Market Driver
Geospatial Analytics Market Restraint
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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
Geospatial Analytics Market Recent Developments
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.
Report Metric | Details |
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Market size value in 2021 | USD 68.5 billion |
Market size value in 2030 | USD 79.8 billion |
Growth Rate | 16.63% |
Base year | 2021 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Geospatial Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Geospatial Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Geospatial Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Geospatial Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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