Geospatial Market Scope:
Market Research Future (MRFR) in its new “Geospatial Market” report, states that the global spatial market is likely to touch a USD 78 billion by 2022. MRFR also reveals that the market is likely to thrive at a CAGR of about 16.6% in the forecast years of 2016 to 2022.
The major factor that is expected to propel the geospatial market, as identified by MFRF, is the rise in demand for convergence and the integration of geospatial information with mainstream technologies. The commoditization of geospatial data for different verticals are expected to surge the expansion of the global geospatial market.
The rise in need for geospatial analytics solutions, enabled with artificial intelligence capabilities across numerous industries are expected to surge the market. Moreover, the rise in adoption of Geospatial Market solutions for security, safety, and surveillance purposes is expected to gain the expansion of the global geospatial market. Geospatial analytics also aid in the reduction of logistic and operational costs for various enterprises. This is likely to drive the geospatial analytics market growth. Geospatial analytics aids government in detecting crime locations and enable issue alerts in situations of natural disasters, and also contribute to mitigation methods.
The increase in smart cities projects and rise in demand for innovate technologies in countries that are developing can boost the expansion of the geospatial market. The increase in the usage of GPS integrated smartphone devices and modern technologies is also likely to increase opportunities for the geospatial market to proliferate. On the contrary, the market growth can be hampered due to privacy issues that can be related to storage of data on geospatial information and legal issues associated with personal information. In addition, the initial set up of geospatial analytics products require hefty investment, which can also hinder the market expansion.
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Geospatial Market Key Players:
MRFR enlisted some well-known contenders of the global geospatial market. They are; DigitalGlobe, Inc. (U.S.), Bentley Systems, Inc. (U.S.), Hexagon AB (Sweden), ESRI (U.S.), General Electric Co. (U.S.), Harris Corporation (U.S.), MacDonald, Trimble Navigation LTD. (U.S.), Fugro N.V. (Netherlands), Dettwiler & Associates, Ltd. (Canada), RMSI (India), and others.
Geospatial Market Segmental Study:
The geospatial market has been analyzed in segments that are based on type, technology, and end-user. The analysis is developed carefully with the intention to aid organizations to promote programs and identify new targets.
- By type, the market is classified into surface analytics, network analytics, geo-visualization, and others.
- By technology, the market is classified into remote Sensing, GPS, and GIS. By end-users, the market is segmented into business, automotive, utility & communication, government, defense & intelligence, natural resources, and others.
- The increase in the demand for surveying geospatial solutions in various verticals, need for infrastructure development, and need for optimizing the use of resources available can gain high revenue for the market.
Regionally, MRFR observed that the geospatial market in the Asia Pacific region is expected to hold the largest share of the global market across the review years. Thus is due to the increase in the adoption of the geospatial solution and the use of such analytics across different verticals.
The intensifying competition among key players in the region can boost the North America market growth. In addition, the increase in infrastructural developments and smart cities across the region are other factors that can drive the expansion of the market in the APAC region. The market in Asia Pacific is noted to experience a sharp rise.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
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List of Tables
Table 1 Global Geospatial Market, By Type
Table 2 Global Geospatial Market, By Technology
Table 3 Global Geospatial Market, By End-Users
List of Figures
Figure 1 Research Technology
Figure 2 Global Geospatial Market, By Type (%)
Figure 3 Global Geospatial Market, By Technology (%)
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