Geospatial Solutions Market will reach at each USD 892.6 billion by 2032,Booming Worldwide With Leading Key Players -DigitalGlobe Inc, General Electric, Atkins Plc, Esri, HERE Technologies, Hexagon, Google, Topcon, Pitney Bowes, Harris Corporation, TomTom

The global geospatial solutions market is projected to reach USD 892.6 billion by 2032 from an estimated USD 322.1 billion in 2021, at a CAGR of 14.12% during the forecast period. Development of the Geographic Information System (GIS) industry is due to the incorporation of new and upcoming technologies like 3D, Augmented Reality (AR), and Virtual Reality (VR) in GIS systems. Artificial Intelligence (AI), automation, cloud, Internet of Things (IoT), and miniaturization of sensors are expected to be the catalysts driving the development..

The scope of this research report spans from the broad outlines of the Geospatial Solutions market to delicate structures, classifications, and applications. This research report also provides a clear picture of the global market by presenting data through effective information graphics. It also provides a detailed list of factors affecting the growth of the market.

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Key Players Mentioned in the Global Geospatial Solutions Market Research Report:

DigitalGlobe Inc, General Electric, Atkins Plc, Esri, HERE Technologies, Hexagon, Google, Topcon, Pitney Bowes, Harris Corporation, TomTom International B.V., Microsoft, Bentley, IBM, Apple, Telenav, Geospatial Corporation, Amazon, Oracle, Baidu, SAP, Orbital Insights, China Geo-Engineering Corporation, RMSI

Global Geospatial Solutions Market Segmentation:

Geospatial Solutions Market Types:

Hardware, Software, Service.

Geospatial Solutions Market Applications:

Utility, Business, Transportation, Defence and Intelligence, Infrastructural Development, Natural Resource, Others

The earth observation segment is expected to be the largest contributor to the geospatial solution market, by technology, during the forecast period
The geospatial solutions market is segmented, by technology, into geospatial analytics, GNSS & positioning, scanning, and earth observation. The earth observation segment is projected to hold the largest market share by 2024. Earth observation satellites observe the planet for changes in everything, from temperature to forestation to ice sheet coverage. This is possible through satellite imagery, Light Detection and Ranging (LiDAR), and other related technologies. With the growth of these technologies, this particular segment market is also expected to grow.

The software segment is expected to be the fastest growing market during the forecast period
The geospatial solutions market, by solution type, is segmented into hardware, software, and service. The software segment brings the majority of revenues and therefore has a higher share of the geospatial technologies and solutions sector. Geospatial-specific software form a platform, which acts as a user interface on which the various geospatial data is executed and analysis is performed.

The geospatial solutions market, by technology, has been segmented as follows:
Geospatial Analytics
GNSS & Positioning
Scanning
Earth Observation

The geospatial solutions market, by solution type, has been segmented as follows:
Hardware
Software
Service

The geospatial solutions market, by end-user, has been segmented as follows:
Utility
Business
Transportation
Defence & Intelligence
Infrastructural Development
Natural Resource
Others

The geospatial solutions market, by application, has been segmented as follows:
Surveying & Mapping
Geovisualization
Asset Management
Planning & Analysis
Others

The geospatial solutions market, by region, has been segmented as follows:
Asia Pacific
North America
Europe
Middle East & Africa
South America

Recent Developments
In April 2019, HERE launched Here XYZ for mapmaking and geospatial data management for developers and non-coders. It also launched a new cloud service for fast and flexible management of location data. HERE XYZ aims to maximize ease of use, flexibility, and interoperability by leveraging the best of the open-source ecosystem and tools from the company's long history of building standard and high-definition maps at a global scale.

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Impact of COVID-19 on the Geospatial Solutions Market

The spread of COVID-19 severely impacted the performance of several industries and economies globally, including the geospatial solutions market. The pandemic created several challenges for this market due to the lockdowns imposed during the second and third quarters of 2020. The pandemic lowered consumers' financial potential, which decreased the sales of geospatial solutions.

However, in 2021, major industries, including healthcare, retail, manufacturing, and natural resources, started recovering from the economic setbacks. The delayed and postponed orders for geospatial solutions negatively impacted this market during the pandemic. However, the market started recovering rapidly in the last quarter of 2020.

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The deployment of geospatial solutions promotes location intelligence, situational analysis, and awareness, which are important factors for crisis management. The players in this market plan to move forward and capitalize on the lucrative market growth opportunities resulting from the pandemic. The geospatial solutions market is projected to transform drastically over the coming years. Several leading companies are rapidly growing through product launches, enhancements, partnerships, and collaborations. For instance:

In 2021, Trimble Inc. (U.S.) expanded its geospatial automated monitoring portfolio with world sensing geotechnical IoT solutions.
In 2020, Hexagon's Safety, Infrastructure & Geospatial division (a subsidiary of Hexagon AB) (Sweden) launched the Luciad 2020.1, a significant update to its platform for building advanced location intelligence and real-time situational awareness applications.

Based on end-use industry, the global geospatial solutions market is segmented into natural resources; security & defense; BFSI; media & entertainment; healthcare; architecture, engineering & construction; education; telecom & IT; manufacturing; oil & gas; retail; transportation & logistics; and utilities. In 2022, the transportation & logistics segment is expected to account for the largest share of the global geospatial solutions market. This segment's large market share is attributed to the growing need for geospatial data for transportation management & planning, the rising demand for location-enabled intelligent mapping solutions, geospatial solutions to promote route planning and ensure safety, and the increasing need for geospatial data to improve delivery schedules.

Based on geography, the global geospatial solutions market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the global geospatial solutions market. The large market share of this region is attributed to favorable government policies supporting the easy sharing of geospatial data between private organizations, promoting this market's growth.

Some of the key players operating in the global geospatial solutions market are HERE Technologies (Netherlands), ESRI (U.S.), TomTom N.V. (Netherlands), Google LLC (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Trimble, Inc. (U.S.), Orbital Insights (U.S.), Oracle Corporation (U.S.), RMSI Pvt. Ltd. (India), Precisely (U.S.), General Electric (U.S.), Hexagon AB (Sweden), Cyient Limited (India), L3Harris Technologies, Inc. (U.S.), Fugro N.V. (Netherlands), Foursquare (U.S.), Carmenta (Sweden), Maxar Technologies (U.S.), and Cesium GS, Inc. (U.S.).

Table of Contents:

1 Study Coverage

2 Market by Type

3 Market by Application

4 Global Geospatial Solutions Competitor Landscape by Company

5 Global Geospatial Solutions Market Size by Region

6 Segment in Region Level & Country Level

7 Company Profiles

8 Industry Chain and Sales Channels Analysis

9 Research Findings and Conclusion

Conclusion: At the end of Geospatial Solutions Market report, all the findings and estimation are given. It also includes major drivers, and opportunities along with regional analysis. Segment analysis is also providing in terms of type and application both.

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How geography and sales fit together

This study is helpful to all operators who want to identify the exact size of their target audience at a specific geographic location. Geospatial Solutions Market allows entrepreneurs to determine local markets for business expansion. This study answers the questions below:

Where do the requirements come from?
Where do non-potential customers reside?
What is the buying behavior of customers in a specific region?
What is the spending power of the customers in a particular region?

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