Geospatial Market Overview:
Geospatial data refers to the data of all the objects or elements that are present in a geographical space or horizon. It helps in finding and locating of individuals or devices anywhere in the world. The key drivers for the growth of geospatial market include increasing demand for the integration and convergence of geospatial information with mainstream technologies and commoditization of geospatial data for industries. Furthermore, increasing demand for geospatial analytics solutions integrated with Artificial Intelligence capabilities and rising need for the adoption of geospatial solutions for safety and security are expected to create popularity across various industries.
The market growth of Geospatial Market is also expected to create innovative solutions among various market players. For instance, Leidos offers various geospatial solutions to support and gather GIS information for defence, intelligence and commercial customers. Leidos GeoViz is a geospatial presentation tool providing 2-D,3-D and 4-D views and enables to share data from multiple content providers including systems, sensors, simulations, instruments and data sources within secure environments. On the other side, high cost of geospatial analytics solutions is likely to hamper the growth of the geospatial market over the assessment period.
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Major Key Players:
Some of the prominent players in the global geospatial market are Digital Globe Inc. (US), Hexagon AB (US), Bentley Systems (US), General Electric Co. (US), ESRI (US), Trimble Inc. (US), Fugro N.V (Netherlands), RMSI (India), Harris Corporation (US), Detwiler & Associates Ltd (Canada) among others, are profiled in Market Research Future analysis and are at the forefront of competition in the Geospatial market.
March 2018, US Army adopt Leidos Geospatial Intelligence with $200 million contract:
Leidos was awarded a $200 million contract to provide geospatial intelligence across the US army. According to the contract, Leidos to provide technology and expertise to support the US Army geospatial research at the US Army Geospatial Center(AGC) at Fort Belvoir.
April 2017, Trimble introduced OEM GNSS Sensor:
The newly launched ABX-Two OEM GNSS sensor offers precise heading, pitch, roll and 3D positioning information that serve broad range of applications such as land and marine surveying, dredging, transport, asset tracking and other geo-positioning/ geo-referencing applications.
May 2018, Hangar Technology collaborated with ESRI startup program to Add ‘Task & Receive” Aerial insights to ArcGIS:
The collaboration of Hangar Technology and ESRI aims to bring 4D visual insights that offers drone data on demand from ArcGIS enabling industries to obtain real time awareness and insights about location and features.
Global Geospatial Market Segmentation:
- Segmentation by Type: surface analytics, network analytics, geo-visualization and others.
- Segmentation by Technology: Remote Sensing, GPS, GIS and others.
- Segmentation by End-users: Business, Automotive, Utility & Communication, Government, Defence & Intelligence, Natural Resources and others.
- Segmentation by Region: North America, Europe, Asia-Pacific and Rest of the World.
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Geospatial Market Regional Analysis:
geographically, the global geospatial market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North-America region accounted for the largest market share, majorly due to the presence of key players in this region such as Alteryx Inc (US), DigitalGlobe (US), among others to provides geospatial analytics software and solutions.
The increasing adoption of technologies such as cloud computing, big data, Internet of Things (IoT), Artificial Intelligence (AI), Business Intelligence (BI) tools is driving the geospatial market in this region. Asia-Pacific region is expected to be the fastest growing region owing to rising demand from public administration agencies for geographical surveys, smart city initiatives, and increased need from real-estate sector.
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