Press release
Geospatial Analytics Market Upcoming Innovations, Companies and Forecast 2023-2031
A geospatial analytics solution provides insight into satellite images and data captured from a variety of geospatial technologies, including remote sensing, geographic information systems (GIS), and global positioning systems (GPS).
Additionally, geospatial analytics solutions allow users to identify problems, monitor changes, manage and respond to them. Geospatial analytics provide a number of benefits to organizations, such as improved decision-making abilities, software that's easy to use, and increased efficiency.
Factors Influencing Market Growth
Several factors are driving the growth of the global geospatial analytics market, such as increased demand for AI-based GIS solutions and the development of smart cities.Regulatory issues, high costs of geospatial analytics, and a lack of comprehensive government policies may slow down the global geospatial analytics market growth.
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With the adoption of cloud-based GIS and an increase in the application of AR and VR in geographic information systems, the global geospatial analytics market is forecast to see a significant increase in growth during the forecast period.
Impact Analysis of COVID-19
COVID-19 pandemic has created enormous growth opportunities for the global geospatial analytics market. During the pandemic, smart wearables, robots, and drones were helping the geospatial analytics solutions to grow.
A map and a GIS provided valuable insights to help organizations deal with the crisis, maintain continuity of operations, and support the reopening process. Several technologies were available that could assist in better understanding the situation and making timely, informed decisions.
These include GIS, analytics, and big data. Using GIS, it was possible to compare the source and the pattern of COVID-19. In addition to tracking the availability of facilities and planning interventions, GIS helped analyze where COVID-19 infections originate and how they manifest themselves.
Regional Insights
The Asia-Pacific region is forecast to show the highest growth rate during the forecast period. Due to strong economic growth and the ongoing development of inventory management and field service, organizations invest heavily in geospatial analytics to boost productivity and sustain growth.
Moreover, the shift toward digital transformation, the deployment of cloud computing and technological advancement among small & medium businesses, and the ongoing modernization of workforce management strategies in emerging economies contribute to market growth.
Additionally, key players across Asia-Pacific are improving their operations and enhancing their overall efficiency in order to remain competitive in the market, which should lead to lucrative opportunities for market growth during the forecast period.
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Leading Competitors
The leading prominent companies profiled in the global geospatial analytics market are:
Oracle Corporation
SAP SE
Bentley Systems, Incorporated
Esri
General Electric Company
Hexagon AB
Trimble Incorporated
Tomtom International B.V.
MDA Limited
Fugro
Alteryx Incorporated
Other Prominent Players
Scope of the Report
The global geospatial analytics market segmentation focuses on Component, Solution, Collection Medium, Deployment Mode, Organization Size, Type, Industry Vertical, and Region.
Segmentation based on Component
Solution
Service
Segmentation based on Solution
Geocoding & Reverse Geocoding
Data Integration & ETL
Reporting & Visualization
Thematic Mapping & Spatial Analysis
Others
Segmentation based on Collection Medium
Geographic information system
Satellites
Unmanned aerial vehicle
Others
Segmentation based on Deployment Mode
On-premise
Cloud
Segmentation based on Organization Size
Large enterprises
SMEs
Segmentation based on Type
Surface & Field Analytics
Network & Location Analytics
Geovisualization
Others
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Segmentation based on Industry Vertical
Mining and Manufacturing
Government
Environmental Monitoring
Defense and Security
Engineering and Construction
Insurance
Automotive
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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