Geospatial analytics holds huge potential for applications such as surveying, asset tracking, marketing management, disaster management, public safety, and border security across numerous industries, including manufacturing, transportation & logistics, healthcare, architecture, and engineering & construction. At present, geospatial technologies such as earth observation, GIS, GNSS & positioning, and 3D scanning are extensively used across these industries. The trend is expected to continue over the coming years due to the growth in smart infrastructures such as smart cities and smart buildings worldwide and favorable government policies promoting smart infrastructure.
Meticulous Research®, in its latest publication on the geospatial analytics market, states that the geospatial analytics market will reach $215.0 billion by 2027 at a CAGR of 16.9% from 2020 to 2027. The growth of the geospatial analytics market is mainly attributed to the incorporation of artificial intelligence, machine learning, and big data with geospatial analytics. Also, an upsurge in the use of cloud computing and the growing proliferation of IoT and connected devices across industry verticals are expected to further fuel the growth of the geospatial analytics market during the forecast period. The increased adoption of geospatial analytics, particularly in the healthcare and transportation sectors during the COVID-19 pandemic, has helped the market grow.
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To facilitate efficient analysis, Meticulous Research ha s segmented this market based on technology (earth observation, GIS, GNSS & positioning, and 3D scanning), component (software and services), deployment mode (cloud and on-premise), organization size (SMEs, large enterprises), application (surveying, military/border security, disaster management, marketing management, urban planning, public safety, and asset management), end user (natural resources, security & defense, BFSI, media & entertainment, healthcare, AEC, education, telecom, manufacturing, oil & gas, retail, transportation & logistics, and utilities), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Geographically, North America is expected to command the largest share of the geospatial analytics market in 2020. The presence of many technology companies operating in the artificial intelligence & machine learning, big data, and cloud computing space drives the growth of the geospatial analytics market in the region. Additionally, favorable government policies that allow easy sharing of information between private organizations are expected to drive the market’s growth. However, the Asia-Pacific market is expected to register the highest CAGR during the forecast period. The presence of several developing economies, the increasing number of smart cities across the Asia-Pacific region, namely in China, India, and the ASEAN countries, and rising investments in 5G infrastructure are major factors driving the growth of the Asia-Pacific market.
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Scope of the Report:
Geospatial Analytics Market, by Technology
Geospatial Analytics Market, by Component
Geospatial Analytics Market, by Deployment Mode
Geospatial Analytics Market, by Organization Size
Geospatial Analytics Market, by Application
Geospatial Analytics Market, by End User
Geospatial Analytics Market, by Geography:
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By end user, transportation & logistics is anticipated to be the fastest-growing segment during the forecast period. Geospatial analytics solutions aid exploration and suggest the best routes, reducing travel time. They help analyze essential economic, demographic, and cost estimates for new routes. Route planning maximizes potential customer inflow and improves accessibility. Moreover, asset & logistics tracking has become increasingly important for the transportation industry, driving the adoption of geospatial analytics and boosting the market’s growth.
By application, the urban planning segment is expected to grow at the fastest pace from 2020 to 2027. The increasing use of geospatial analytics solutions in land area selection, land suitability analysis, transport modeling, identifying & planning action areas, and impact assessment applications for urban city planning to promote efficient and sustainable cities is expected to drive the growth of the urban planning segment. Moreover, the proliferation of smart city projects worldwide and modern urban-planning approaches will further drive the growth of the urban planning segment during the forecast period.
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Key Players
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in the geospatial analytics market, including ESRI (U.S.), Oracle Corporation (U.S.), Alteryx, Inc. (U.S.), Fugro N.V. (Netherlands), Hexagon AB (Sweden), RMSI Pvt. Ltd., India (India), SAP SE (Germany), Trimble Inc. (U.S.), L3Harris Technologies, Inc. (U.S.), General Electric Company (U.S.), TomTom N.V. (Netherlands), Autodesk, Inc. (U.S.), Google LLC (U.S.), Atkins (U.K.), AAM Pty Ltd. (Australia), Orbital Insight (U.S.), Cyient Limited (India), Precisely (U.S.), HERE (Netherlands), and CARTO (U.S.).
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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