Product ID: SQSG45E2026
Report ID:
SQSG45E2026 |
Region:
Global |
Published Date: April, 2024
Pages:
274
|
Tables:
156 |
Figures:
78
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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REQUEST FREE CUSTOMIZATIONGlobal Geospatial Analytics Market size was valued at USD 68.5 billion in 2019 and is poised to grow from USD 79.8 billion in 2023 to USD 273.6 billion by 2031, growing at a CAGR of 16.63% in the forecast period (2024-2031).
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Product ID: SQSG45E2026