Global Geospatial Analytics Market to Reach USD 256 billion by 2028

According to the latest research by SkyQuest Technology, the global geospatial analytics market was valued at USD 98.1 billion in 2021, and it is expected to reach USD 256 billion by 2028, with a CAGR of 17.6% during the forecast period of 2022-2028. The research provides up-to-date geospatial analytics market analysis of the current market landscape, latest trends, drivers, and overall market environment.

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Software Sector to Dominate Geospatial Analytics Market
With the expanding use of geospatial analytics, a significant increase in the usage of software-based analytical solutions, including data management and storage, has been seen. Businesses can acquire a competitive advantage with the aid of mapping and analytics tools. These advantages of geospatial analytics have boosted their use in a variety of industries. For instance, geospatial analytics are increasingly being used for targeted marketing. The software segment is anticipated to expand at the greatest CAGR over the forecast period as a result of this rise.

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Read Market Research Report, " Global Geospatial Analytics Market By Component Analysis ( Solutions, Services), End-User (Defense and Internal Security, Retail & Logistics, Government, Banking, Financial Services, and Insurance (BFSI), Energy and Utilities, Agriculture, Healthcare & Life Sciences, Infrastructure & Urban Development, and Others), Deployment mode (Cloud and On-Premises), Organization Size (Small and Medium-Sized Enterprises and Large Size Enterprises), Application (Disaster Management and Risk Reduction, Public Safety and Medline Delivery, Surveying, Climate Change Adaptation, and Others), and Region -Forecast and Analysis 2022-2028" by SkyQuest

The Largest Market Share will be Accounted for by Cloud-Based Deployments
Depending on the companies' needs for security, collaboration, and ownership, cloud-based analytics solutions can be accessed via private, public, hybrid, or community cloud services. This cloud data can be made available to the general public for open access and ongoing upgrades. As more recent datasets become available, decision-making accuracy has increased significantly. Furthermore, cloud-based analytics tools offer on-demand access to geospatial data, imagery, and maps, which cuts down on the time needed for data collection. It enables functions including viewing, producing, monitoring, managing, and analysing data, as well as data exchange between users. Additionally, cloud platforms eliminate cyber dangers and data security hazards, which is another factor encouraging the use of cloud-based geospatial analytics solutions.

Quicker Uptake of Geospatial Analytics by Small and Medium-Sized Businesses SMEs are seen as essential to the growth of the geospatial value chain. SMEs are creating novel products and services at an increasing rate thanks to the usage of geospatial analytics. Additionally, SMEs can offer regional assistance, instruction, and services, which is anticipated to further aid the market's expansion. Additionally, SMEs now benefit from open access to geospatial data, which was previously seen as a key barrier due to their financial limitations. As a result, during the course of the projected period, the SMEs category is anticipated to develop the fastest.

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The Segment of Surveying to Control the Largest Market Share
The significant market share of the surveying segment is due to the expanding use of geospatial analytics in a variety of sectors, including manufacturing, utilities, oil & gas, architecture, engineering, and construction. For the mining and oil & gas sectors, both land-based and maritime surveying is crucial. Additionally, surveying provides advantages like improved decision-making, trustworthy record-keeping, and improved property management. These elements aid in the surveying segment's dominant position.

The Transportation and Logistics Sector to Drive Market Growth
With the help of cutting-edge technologies like the IoT, 5G, and self-driving cars, the transportation and logistics industry is revolutionizing numerous industries. The demand for geospatial analytics is anticipated to be driven by the increasing use of linked and self-driving vehicles. For route mapping and guaranteeing highly accurate inputs for the Advanced Driver-Assistance System, geospatial analytics are essential (ADAS). During the projected period, the need for geospatial analytics is anticipated to be driven by the market expansion for autonomous vehicles.
The prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players are Alteryx, Inc., Digital Globe, Fugro N.V., Hexagon AB, RMSI, SAP SE, Trimble Inc., Maxar Technologies Inc., Map Large, Harris Corporation, Bentley Systems Incorporated, ESRI, General Electric Company, Oracle Corporation, and Google LLC, among others.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Geospatial Analytics Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.

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Report Findings
● Drivers- The expansion of smart cities and urbanization, the development of big data analytics, the increased deployment of IoT sensors in various locations, and the rising number of AI and ML-based GIS solutions are the key factors propelling the geospatial analytics market.
● Restraint- The usage of GIS software is made possible by urban growth. There has also been an upsurge in privacy-related public anxiety. Government restrictions and regulations apply to the gathering, storage, distribution, and use of location-based information. Companies that gather user location data must abide by a number of data privacy laws, including the General Data Protection Regulation and laws controlling sensitive personal data or information. The availability of user location data has a constraint on whether enterprises will use these analytics tools. Concerns over privacy and the expensive cost of the services could limit market expansion.

What does this Report Deliver?
• Market Estimation for 20+ Countries
• Geospatial Analytics Market demand by Region, Sub-Region, and Country
• Customization on Segments, Regions, and Company Profiles
• 100+ tables, 150+ Figures
• Global, Regional and Country specific Geospatial Analytics Market Trends
• Comprehensive Mapping of Geospatial Analytics Industry Parameters
• Attractive Investment Proposition in the Global Geospatial Analytics Industry
• Competitive Strategies Adopted by Geospatial Analytics Market Key Players
• Drivers, Restraints, Opportunities, Challenges and the impact on the Geospatial Analytics Market Size
• Market growth rate till 2028
• Regulatory scenario, regional dynamics, and Geospatial Analytics market insights of leading countries in each region
• In-depth Market insights by Region and Country
• Market Segmentation Trend Analysis, Opportunities and Growth
• Porter's five force analysis to know the market's condition
• Pricing Analysis and Geospatial Analytics Market Sales
• Parent market analysis
• Product portfolio benchmarking
SkyQuest has segmented the Global Geospatial Analytics Market based on Component Analysis, End-User, Application, Deployment Mode, Organization Size, and Region:
● Global Geospatial Analytics Market by Component Analysis (Revenue, USD Billion, 2022 - 2028)
o Solutions
o Services
● Global Geospatial Analytics Market by End-User (Revenue, USD Billion, 2022 - 2028)
o Defense and Internal Security
o Retail and Logistic
o Government
o BFSI
o Energy and Utilities
o Agriculture
o Healthcare & Life Science
o Infrastructure & Urban Development
o Others
● Global Geospatial Analytics Market by Application (Revenue, USD Billion, 2022 - 2028)
o Disaster management & Risk Reduction
o Public Safety and Medline Delivery
o Surveying
o Climate change adaption
o Others
● Global Geospatial Analytics Market by Organization Size (Revenue, USD Billion, 2022 - 2028)
o Small & Medium-Sized Enterprises
o Large-sized enterprises
● Global Geospatial Analytics Market by Deployment Mode (Revenue, USD Billion, 2022 - 2028)
o Cloud
o On-premises
● Global Geospatial Analytics Market by Region (Revenue, USD Billion, 2022 - 2028)
o North America
▪ US
▪ Canada
o Europe
▪ Germany
▪ France
▪ UK
▪ Italy
▪ Spain
▪ Rest of Europe
o Asia Pacific
▪ China
▪ India
▪ Japan
▪ Rest of Asia Pacific
o Latin America
▪ Brazil
▪ Rest of CSA
o Middle East & Africa
▪ South Africa
▪ Rest of MEA

Key Players in the Global Geospatial Analytics Market
● 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)
● CARTO (U.S.)

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This release was published on openPR.