Geospatial Analytics Market | Market by Technology , Component, Deployment Mode, Organization Size, Application, and End User (Healthcare, Transportation, Telecom)-Global Forecast to 2027

According to a new market research report titled, “Geospatial Analytics Market by Technology (Earth Observation, GIS, GNSS, 3D Scanning), Component, Deployment Mode, Organization Size, Application (Surveying, Urban Planning), and End User (Healthcare, Transportation, Telecom)—Global Forecast to 2027”, the geospatial analytics market is expected to reach $215 billion by 2027, at a CAGR of 16.9% from 2020 to 2027.

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Geospatial analytics gathers geolocation data and imagery from remote sensing, geographic information systems (GIS), global positioning systems (GPS), and other sources, such as UAVs and Google Earth, to analyze data and extract key insights. Geospatial analytics is used across several industries, including architecture, engineering & construction, healthcare, manufacturing, transportation & logistics, telecom, and utilities.

The growth of the geospatial analytics market is primarily driven by factors such as the increasing use of AI & ML-based GIS solutions, advancements in big data analytics, high proliferation of IoT and connected devices, and adoption of cloud computing technology. However, high set-up & operating costs and concern regarding data privacy and confidentiality are the biggest restraints for market growth.

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The Impact of COVID-19 on the Geospatial Analytics Market

In the first quarter of 2020, the world was hit by the COVID-19 pandemic. The spread of COVID-19 has had an unprecedented impact on public health and industrial structures, accelerating social reforms in several areas. Though the nature of the macro challenges, such as disrupted supply chains, decentralized workforce, and the provision of safe and healthy employee workspaces, are different than in past recessions, the market players must deal with these monumental challenges.

The COVID-19 has severely impacted almost all major industries such as transportation, logistics & supply chain, healthcare, and manufacturing. From the second quarter of 2020, the COVID-19 pandemic spread to almost all parts of the world, forcing governments of many countries to impose restrictions on all economic and social activities. This lockdown impacted the adoption of geospatial technologies severely. However, the adoption of geospatial technologies grew in the healthcare sector as there was a growing need for mapping the spread of the virus. AI-driven predictive models were developed using machine learning and geospatial analytics to predict individual COVID-19 exposure risk based on population density and proximity to COVID-19-positive cases. Such geospatial analyses helped improve public health and safety more efficiently.

In September 2020, Parkland Health & Hospital System, the safety net health system for Dallas County, Texas, U.S., and PCCI, a Dallas-based non-profit organization with expertise in the practical application of advanced data science and social determinants of health, worked together to build a predictive model, called Proximity Index, capable of predicting a person’s COVID-19 exposure risk based on population density and his/her proximity to positive cases. In another instance, in September 2020, Google announced its support to 31 geospatial analytics organizations worldwide with more than $8.5 million in aid. Thus, in 2020, the use of geospatial analytics grew exponentially for monitoring & forecasting disease spread, risk planning for hospital constraints & demand, and mapping the spread of the virus, positively impacting the geospatial analytics market.

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The geospatial analytics market study presents historical market data (2018 & 2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on technology (earth observation, GIS, GNSS & positioning, and 3D scanning), component (software and services), deployment mode (cloud and on-premise), organization size (SMEs and large enterprises), application (surveying, military/border security, disaster management, marketing management, urban planning, public safety, and asset tracking & analysis), 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). The study also evaluates industry competitors and analyzes the market at the country level.

Based on technology, the Navigation Satellite System (GNSS) & positioning segment accounted for the largest share of the overall geospatial analytics market in 2020. The large share of this segment is primarily attributed to the growing application of geospatial features in location-based asset calls in the transportation & logistics sector and for improving decision making with smart maps and spatial analytics. The surging adoption of geospatial analytics for the real-time tracking of vehicles to improve fleet management, fuel efficiency, and route optimization also contributes to the large market share of the segment.

Based on component, the services segment commanded the largest share of the geospatial analytics market in 2020. However, the software segment is poised to record the highest CAGR during the forecast period. The growing adoption and applications of geospatial software across industries are expected to support the rapid growth of the software segment during the forecast period.

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Based on deployment mode, the cloud segment is expected to account for the largest share of the overall geospatial analytics market in 2020. Many geospatial analytics applications in the transportation and media & entertainment industries demand real-time information. Cloud-based deployments offer higher efficiency within limited budgets, boosting the demand for cloud-based geospatial analytics solutions and services. With the entry of major cloud service provider companies such as Amazon AWS, Google Cloud Platform, and Microsoft Azure, the segment is expected to grow further at the highest CAGR during the forecast period.

Based on organization size, the large enterprises segment accounted for the largest share of the overall geospatial analytics market in 2020, as the high cost of geospatial data gathering limits the adoption of geospatial analytics among small and medium-sized enterprises (SMEs). However, SMEs are anticipated to improve their value chains by connecting with large enterprises and end users, thereby supporting the growth of the SMEs segment at the highest CAGR during the forecast period.

Based on application, the surveying segment accounted for the largest share of the geospatial analytics market in 2020. Wide applications in agriculture, forestry, urban planning, oil & gas, and border security support the segment’s large share—however, the urban planning segment is expected to record the fastest growth over the forecast period. The growth is attributed to the integration of building information modeling (BIM) and GIS in geospatial analytics solutions for urban planning.

Based on end user, the transportation & logistics segment accounted for the largest share of the overall geospatial analytics market in 2020. The large share of this segment is attributed to the growing adoption of vehicle tracking devices across the transportation & logistics industry. Additionally, the same segment is expected to register the highest growth rate during the forecast period. GIS and GPS help companies enhance decision making in transportation asset management, performance & operations management, and safety & security.

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Based on geography, North America accounted for the largest share of the global geospatial analytics market in 2020. Technological advancements, the growing number of on-road connected vehicles, the presence of several major market players in the region, and growing geospatial analytics applications in the transportation & logistics sector have driven the market’s growth in the region. However, the market in Asia-Pacific is anticipated to record the highest CAGR during the forecast period. The rapid growth of the Asia-Pacific geospatial analytics market is attributed to the strong demand for smart infrastructure and smart cities to support the growing populations of countries such as India, China, and Indonesia.

The report also includes an extensive assessment of the key strategic developments by the leading market players over the past four years. The geospatial analytics market has witnessed new product launches & enhancements that enabled companies to broaden their product portfolios, partner with other key players, sign contracts with other industry players, and acquire SMEs, to bolster their market presence.

The global geospatial analytics market is fragmented in nature. The major players operating in this market are 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.), among others.

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Scope of the Report:

Geospatial Analytics Market, by Technology

Earth Observation
GIS
GNSS & Positioning
3D Scanning
Geospatial Analytics Market, by Component

Software
Mapping
Spatial Analysis
Geo-visualization
Data Management
Services
System Integration
Training & Geo-consultation
Support & Maintenance
Geospatial Analytics Market, by Deployment Mode

Cloud
On-premise
Geospatial Analytics Market, by Organization Size

SMEs
Large Enterprises
Geospatial Analytics Market, by Application

Surveying
Military/Border Security
Disaster Management
Marketing Management
Urban Planning
Public Safety
Asset Management
Geospatial Analytics Market, by End User

Natural Resources
Agriculture
Forestry
Fishery
Mining
Security & Defense
BFSI
Media & Entertainment
Healthcare
Architecture, Engineering & Construction
Education
Telecom
Manufacturing
Oil & Gas
Retail
Transportation & Logistics
Utilities
Geospatial Analytics Market, by Geography:

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Latin America
Middle East & Africa

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