The global GIS market value stood at $8,185.9 million in 2020, and it is predicted to exhibit a CAGR of 11.6% from 2020 to 2030. According to the estimates of the market research company, P&S Intelligence, the market will reach a value of $24,607.7 million by 2030. The major factors fueling the expansion of the market are the surging investments being made in the GIS technology, abundant availability of cloud technology and spatial data, and burgeoning requirement for GIS solutions in the transportation sector.
The governments of many countries are investing heavily in these technologies for applications in military and aerospace and security sectors, which is, in turn, strengthening their demand across the world. In recent years, many vendors have introduced advanced products for catering to the needs of the governments in emerging economies. Further, the United Nations (UN) published its geospatial strategy for 2021–2022 in April 2021, which intends to contribute toward the data ecosystem by providing location data for different sectors.
The objective is to develop synergy in investments and activities in geospatial information management by employing the use of geospatial data. Moreover, the Indian government has launched the Digital India initiative, under which, it is focusing on making huge investments in improving location-based service infrastructure and internet connectivity together with private companies. Depending on industry, the geographic information system market is divided into construction, aerospace and defense, mining, agriculture, telecommunications, oil and gas, government, and utilities.
Browse detailed report on Geographic Information System Market Trends and Growth Forecast Report, 2030
Amongst these, the government sector held the largest share in the market in the past, as it extensively used GIS for several applications, such as information and data collection on natural calamities, urban and rural planning, and community planning. Besides developed nations, the governments of developing countries are also making huge investments in data-based and digital GIS technologies for rural and urban planning, optimal natural resource usage, and public health improvement.
Geographically, the Asia-Pacific region is predicted to be the fastest-growing region in the geographic information system market market in the coming years. This is ascribed to the growing urbanization rate and burgeoning need for geographic information systems in regional countries, such as India and China. Moreover, the governments of the regional countries have extensively used GIS solutions for various military applications in recent years in order to improve homeland security and infrastructure.
The GIS market is highly consolidated in nature and the players are actively focusing on product launches and mergers and acquisitions in order to bolster their presence in the industry. For example, Hexagon AB completed the acquisition of Immersal Oy, which is a provider of visual positioning and spatial mapping solutions which are used in augmented reality (AR) applications, in July 2021. With the help of this acquisition, the company started providing onsite deep insights, thereby improving the field of view with the aid of superimposed digital information.
Hence, the demand for GIS solutions will soar in the coming years, primarily because of their surging requirement in the transportation sector.
Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/geographic-information-system-market/report-sample
GIS Market Size Breakdown by Segments
- Global navigation satellite system/global positioning system (GNSS/GPS) antennas
- Imaging sensors
- Total station
- Light detection and ranging (LiDAR)
- GIS collectors
- Remote sensing
- Integration and maintenance
- Training and consulting
- Telematics and Navigation
- Location-Based Services
By Data Type
By Project Size
- Aerospace & Defense
- Oil & Gas
- North America
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
Browse Other Related Reports
The Asia-Pacific SLAM technology market will witness the swiftest advance around the world in the coming years. This will be because countries such as India and China are witnessing an increment in the usage of robots.
The GIS in telecom market is expected to demonstrate the fastest growth in the Asia-Pacific region in the upcoming years. This will be because of the increasing penetration of the internet in India, South Korea, and China.
Company Name: P&S Intelligence
Contact Person: Abhishek
Email: Send Email
Address:Noida Sector 2