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Geospatial Analytics Market Size Is Booming Worldwide | Bentley Systems Incorporated, ESRI, Furgo NV, General Electric, Hexagon AB, Google, Inc., MDA Corporation
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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.
By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.
In addition, geospatial analytics uses various data sources to understand the complex relationship between people and places. Furthermore, geospatial analytics is majorly applicable in weather monitoring, crisis management, climate change modeling, sales analysis of industries, animal population management, and human population forecasting. In addition, many industries are adopting geospatial analytics, as it facilitates real-time forecasting and helps in gaining better insights of data.
However, high cost of geospatial analytics and regulatory issues and lack of comprehensive government policies regarding geospatial analytics are expected to hamper the market growth. On the contrary, rise in adoption of cloud-based GIS and increase in application of augmented reality (AR) & virtual reality (VR) technologies in geographic information system are expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
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The global geospatial analytics market is segmented into component, deployment model, solution, type, technology, industry vertical, and region. In terms of component, the market is fragmented into solution and services. On the basis of solution, it is categorized into geocoding & reverse geocoding, data integration & ETL, reporting & visualization, thematic mapping & spatial analysis, and others. Depending on deployment model, it is bifurcated into on-premise and cloud. In terms of enterprise size, the market is fragmented into large enterprises and SMEs. As per technology, it is differentiated into remote sensing, GIS, GPS, and others. By type, it is segregated into surface & field analytics, network & location analytics, revisualization, and others. According to industry vertical, it is classified into automotive, energy & utilities, government, defense & intelligence, smart cities, insurance, natural resources, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of global geospatial analytics market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global market is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.
KEY MARKET PLAYERS
- Alteryx, Inc.
- Bentley Systems Incorporated
- ESRI
- Furgo NV
- General Electric
- Hexagon AB
- Google, Inc.
- MDA Corporation
- Oracle Corporation
- SAP SE
- Trimble, Inc.
- TOMTOM International, Inc.
Key Market Segments
By Component
- Solution
- Service
By Deployment Model
- On-premise
- Cloud
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By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By Solution
- Geocoding & Reverse Geocoding
- Data Integration & ETL
- Reporting & Visualization
- Thematic Mapping & Spatial Analysis
- Others
By Type
- Surface & Field Analytics
- Network & Location Analytics
- Geovisualization
- Others
By Technology
- Remote Sensing
- GIS
- GPS
- Others
By Industry Vertical
- Automotive
- Energy & Utilities
- Government
- Defense & Intelligence
- Smart Cities
- Insurance
- Natural Resources
- Others
By Region
- North America
o U.S.
o Canada
- Europe
o UK
o Germany
o France
o Italy
o Russia
o Netherlands
o Rest of Europe
- Asia-Pacific
o China
o India
o Japan
o South Korea
o Australia
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa
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