Geospatial Analytics Market Research Report | Industry Size USD 209.47 Billion by 2030

According to the report published by Allied Market Research, the global geospatial analytics market was estimated at $60.94 billion in 2020 and is expected to hit $209.47 billion by 2030, registering a CAGR of 13.0% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Increase in demand for AI-based GIS solutions, rise in inclination toward adopting GIS software in smart cities development and urban planning, and surge in the use of satellites in monitoring the spread of COVID-19 drive the global geospatial analytics market. On the other hand, high cost of GIS solutions and several regulatory issues, and lack of comprehensive government policies pertaining to geospatial analytics hinder the growth to some extent. However, the incorporation of advanced technologies such as AR, VR, and IoT for GIS and development of 4D GIS software are expected to create lucrative opportunities in the industry.

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The global geospatial analytics market is analyzed across component, deployment mode, enterprise size, industry vertical, solution, technology, type, and region. Based on component, the solution segment accounted for the major share in 2020, holding more than three-fifths of the global market. The service segment, on the other hand, would grow at the fastest CAGR of 14.3% throughout the forecast period.

Based on deployment mode, the on-premise segment generated the highest share in 2020, accounting for nearly three-fifths of the global geospatial analytics industry. The cloud segment, however, is projected to manifest the fastest CAGR of 14.5% from 2021 to 2030.

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The COVID-19 outbreak has a positive impact on the growth of the geospatial analytics market as geospatial analytics technologies are helping enterprises to address the extensive capacity demand of geospatial analytics. The outbreak of COVID-19 has affected communities globally while governments and companies are trying their best to respond faster to the challenges posed by this pandemic.

However, from the last quarter of 2019, COVID-19 pandemic created an unbalanced health situation, with stringent restriction to maintain social distancing and lockdown implemented across world. Thus, with a major aim to contain this pandemic, majority of the economies have enforced completed shutdown, thereby leading to decline in business operations.

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This report gives an in-depth profile of some key market players in the geospatial analytics market are Alteryx, Inc., Bentley Systems, Incorporated, ESRI, Furgo NV, General Electric, Hexagon AB, Google, Inc., MDA Corporation, Oracle Corporation, SAP SE, Trimble, Inc., and TOMTOM International, Inc. This study includes geospatial analytics market trends, geospatial analytics market analysis, and future estimations to determine the imminent investment pockets.

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