The global geospatial analytics market is expected to reach a valuation of US$ 10.6 Bn in 2022. With sales growing at a 12.5% CAGR over the assessment period, the market size will reach US$ 34.5 Bn by 2032.
As per FMI, the geospatial analytics market is driven by factors such as technological advancements in machine learning and artificial intelligence, and big data technologies for analyzing geospatial data. Geospatial analytics collects geographical data and imagery from earth observation, geographic information system, global navigation and satellite systems and positioning, location sensors, and mobile devices, structures data visualization and supports tracking the relationships among places and people.
As per the report by the Bureau of Labor Statistics, geographical information system development will be specifically strong in cities with a well-established base of database and cartography technology. This includes federal government agencies comprising the United States Geological Survey, Forest Service National Oceanic and Atmospheric Administration, National Imagery and Mapping Agency, and Federal Emergency Management Agency.
The telecom industry is transforming quickly and needs the support of modern spatial technology to enhance its effectiveness and meet the increasing demand. Cell phone utilization is rising in emerging and developed nations, and telecom companies are looking to expand their reach. This quick diversification of the telecom industry is driving the usage of geographic information system.
Geographic network has proven to be specifically useful in today’s telecommunication industry, as it offers the means to generate highly precise maps, increase asset location, and visualize details in a more effective and interactive way. Utilizing geographic information tools at network installation, maintenance, and planning stages, telecommunication operators can lower network construction prices and make sure that their networks are formed in the right places. Thus, the increasing usage of GIS in the telecommunication industry will continue augmenting the growth in the market over the forecast period.
“The demand of geospatial analytics solutions is increasing in the government and defense sector as geospatial data supports border security operations by offering awareness regarding the situation. The adoption of advanced technologies like AI-powered analytics platform is propelling the adoption of geospatial solutions in the government and defense sector,” says an FMI analyst.
Key Takeaways:
- By component, sales in the solutions segment are anticipated to grow at a CAGR of 13.3% through 2032.
- Based on application, demand in the network and location analysis segment is expected to increase at a CAGR of 13.8% over the assessment period.
- In terms of deployment mode, the cloud segment is anticipated to expand at a CAGR of 13.5% through 2032.
- Based enterprise size, the small and mid-sized enterprises segment is estimated to grow at a robust CAGR of 14.4% through 2032.
- By industry, adoption of geospatial analytics in the agriculture segment is anticipated to grow at a CAGR of 17.8%.
- South Asia and Pacific is expected to progress at the highest CAGR of around 15.6% followed by East Asia through 2032.
- The market in Japan is expected to progress at a CAGR of around 14.6% through 2032.
- In India, sales are expected to grow at a CAGR of close 17.0% over the next ten years.
More Valuable Insights on Geospatial Analytics Market
Future Market Insight’s report on the geospatial analytics research is segmented into six major sections – component (solutions (geocoding and reverse geocoding software, geospatial analysis software, GIS mapping software, and others) and services (consulting, integration and deployment, and support and maintenance)), application (surface and field analytics, network and location analysis, geo-visualization, and others), deployment mode (cloud, and on-premises), enterprise size (small and mid-sized (SMEs), and large enterprises), industry (energy and utilities, government and defence, telecommunication industry, mining and natural resources, automotive, agriculture, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the geospatial analytics outlook.
Geospatial Analytics Outlook by Category
By Component:
- Solutions
- Geocoding and Reverse Geocoding Software
- Geospatial Analysis Software
- GIS Mapping Software
- Others
- Services
- Consulting
- Integration and Deployment
- Support and Maintenance
By Application:
- Surface and Field Analytics
- Network and Location Analysis
- Geovisualization
- Others
By Deployment Mode:
- Cloud
- On-premises
By Enterprise Size:
- Large Enterprises
- Small and Mid-Sized Enterprises (SMEs)
By Industry:
- Energy and Utilities
- Government and Defense
- Telecommunication Industry
- Mining and Natural Resources
- Automotive
- Agriculture
- Others
Competition Landscape
Alteryx, Trimble Inc., Bentley Systems, Google, Esri, Oracle Corporation, Deloitte, General Electric, SAP, and Orbital Insights are some of the leading players operating in the global geospatial analytics market.
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