Press release
Geographic Information System (GIS) Market is expected to reach USD 12.6 billion by 2025 | Key players are Hexagon AB, Pitney Bowes Inc., ., Bentley Systems, Inc. SuperMap Software Co., Autodesk Inc., AutoNavi Software Co., Ltd.
Geographic Information System (GIS) Market was valued at USD 5.4 billion in 2016 and projected to reach USD 12.6 billion by 2025 growing at a CAGR of 9.85% during the forecast period 2018 to 2025.
Geographic Information System (GIS) Market Overview:
Geographic Information System (GIS) is a computer system that links data to geography. Several decisions are made through Geographic Information System (GIS), tracking the location of a store, forecasting climate change, and analyzing the characteristics of crime. GIS helps users link data to geographic location to obtain spatial information from extracted data.
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Geographic Information System (GIS) Market @ https://www.researchcosmos.com/reports/geographic-information-system-gis-market/70848593
Geographic Information System (GIS) Market Growth Drivers and Restraints:
Increasing government investment in GIS-based infrastructure is one of the key factors contributing to the growth of the GIS sector. Over the years, many suppliers have created innovative products that meet the requirements of governments in developing countries. Increased investment in national security, coupled with increased capital funding for urban development in developing countries, is driving the growth of the market. The growth of facilities management infrastructure has also increased the penetration of enterprise GIS solutions in recent years.
The high initial costs of system configuration and the lack of authentic spatial data are the main factors limiting the growth of the GIS market. A huge capital is needed for the development of the database and the management of the system. Small and medium-sized industries and governments in developing countries are reluctant to undertake expensive projects, which hampers market growth. Private sector organizations use the geographic information system for applications such as mining, oil and gas, transportation and logistics, and defense equipment, among others. It is expected that the increasing application of geographic information systems in construction will in turn respond to market demand over the forecast period.
Geographic Insights of Geographic Information System (GIS) Market:
The GIS market in Asia-Pacific is expected to have a high CAGR during the forecast period. This growth is mainly due to the increased use of GIS in the utilities, construction and agriculture sectors in the region. Countries such as China, Japan and India have a relatively higher GIS penetration rate than other countries. As a result, the market is expected to grow significantly in these countries. Europe is gaining market share in the GIS market with significant applications in utilities, transport and logistics and construction. North America follows Europe in terms of market share with a significant share of revenues from desktop GIS technologies. South America and MEA are less penetrated by GIS technologies and therefore have great market potential to grow faster.
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Key Market Players of Geographic Information System (GIS) Market:
The main market players are Hexagon AB, Pitney Bowes Inc., ., Bentley Systems, Inc. SuperMap Software Co., Autodesk Inc., AutoNavi Software Co., Ltd, CARTO, Environmental Systems Research Institute, Inc., Ltd. Topcon and Trimble, Inc.
Geographic Information System (GIS) Market Key Segmentation:
By Component:
• Hardware
• Software
• Services
By Device:
• Desktop
• Mobile
By Usage:
• Surveying
• Mapping
• Navigation
By Project Size:
• Small
• Medium
• Large
By Application:
• Transport and logistics
• Agriculture
• Construction
• Mining and Geology
• Oil & gas
• Aerospace and defence
• Utilities
By Region:
• North America
• South America
• Europe
• Asia Pacific
• Middle East and Africa
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Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
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