Press release
Geographic Information System (GIS) Market projected to hit 9$ billion by 2024 with CAGR of 15% | Top Venders are opcon Positioning Systems, Schneider Electric, Pitney Bowes, MDA, Hitachi, Hexagon AB, Harris Corporation
The global geographic information systems market has recorded a commendable upsurge in the last few years, as the relevance of GIS is expanding, finding not only new application areas but also becoming critical to the area where it is applied. The incorporation of spatial analytics into the offerings that companies provide has become an intuitive part of all forward-thinking organizations that are involved in tapping technology to advance their business functionalities.
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With the help of geospatial data accessed from aerial photography, remote sensors and satellite imaging GIS professionals get a detailed perspective of the land and infrastructure which helps in visualization, modeling and analysis. As urban population continues to expand, GIS becomes crucial in pulling together vast amounts of data necessary for solving problems such as determining the feasibility of a waste disposal site or optimizing new building placement.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. GE
2. Esri
3. Bentley Systems
4. Autodesk
5. Geosoft Inc.
6. Trimble, Inc.
7. Topcon Positioning Systems
8. Schneider Electric
9. Pitney Bowes
10. MDA
11. Hitachi
12. Hexagon AB
13. Harris Corporation
In recent times, disruptive changes in technology have vastly impacted the reach of GIS which has continued to expand impressively. Latest computing models such as Cloud, Web and apps of the next generation will affect the GIS ecosystem and subsequent release of upgraded technology is expected to add more capabilities to GIS. While GIS data scientists and analysts will continue to lead the way with groundbreaking progress in spatial modelling and location analysis, creative system architects and software engineers are expected to augment the growth of the GIS market with smart device apps and innovative geospatial solutions.
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Geographic Information System (GIS) Market size is set to exceed USD 9 billion by 2024. The penetration of remote sensing platforms and navigation and positioning technologies to capture the spatial data objects and associated attributes will lead to an increase in demand for GIS hardware components, including imaging sensors, cameras, and GNSS antennas. The data captured by these components need to be integrated and analyzed for predictive analysis which further help the organizations to make informed predictions about the future events.
Geographic information system market in the agriculture segment is expected to grow at a CAGR of over 15% between 2018 to 2024 due to the increasing applications of drone technology. Drones are rapidly being used by the farmers to assess crop condition. As these collect vegetation and topography related information, the demand for GIS will increase during the forecast timeline.
Browse key industry insights spread across 240 pages with 211 market data tables & 28 figures & charts from the report, Geographic Information System (GIS) Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/geographic-information-system-gis-market
Asia Pacific geographic information system market is expected to grow at a CAGR of over 15% during the forecast timeline. The GIS market growth is attributed to the factors such as rising urbanization and development of smart cities and various efforts taken by the government agencies to strengthen spatial infrastructure of the satcom industry which further triggers the need to have more advanced GPS systems and navigation platforms to capture the location-based data.
An instance can be cited in the case of the UN planning a project to set up 17 Sustainable Development Goals across the globe. The UN plans to use geographic information systems to track the progress of each of the goal using a series of 12 to 15 measures and indicators for each goal that communicate the status and progress in each country globally. National statistics and mapping agencies will be collaborating with UN geographic information systems to communicate the status of individual country. As such instances of global usage and success of geographic information systems becomes more common, the potentials of geographic information systems will be unleashed with GIS market gaining significant impetus through such endeavors.
The increasing penetration of the drone technology in sectors, such as defense, transportation agriculture, and urban planning is expected to drive the geographic information system market growth. For instance, in March 2016, the Indian Railways and ISRO signed an MoU for developing applications in the field of remote sensing and GIS. The MoU enables the use of space technologies and tools to provide passenger information for all trains, real-time train tracking and survey of rail route alignments in difficult terrains.
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