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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).

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. 'Esri', 'Trimble', 'Hexagon', 'Pitney Bowes', 'SAP SE', 'Bentley Systems', 'DigitalGlobe (Maxar Technologies)', 'General Electric', 'Oracle Corporation', 'Harris Corporation', 'RMSI', 'Fugro', 'TomTom International', 'Harris Geospatial Solutions', 'Autodesk', 'Google', 'IBM Corporation', 'Microsoft Corporation', 'Amazon Web Services', 'Alphabet Inc.'

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.

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.

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.

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Global Geospatial Analytics Market

Product ID: SQSG45E2026