Geospatial Analytics Market Share Reach USD 209.47 billion by 2030: Hyper Growth Recorded in the Future, Claims Report

According to the report published by Allied Market Research, The Geospatial Analytics Market Share Reach USD 209.47 billion by 2030: Hyper Growth Recorded in the Future, Claims Report. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

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, the 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 size was valued at $ 60.94 billion in 2020, and is projected to reach $ 209.47 billion by 2030, growing at a CAGR of 13.0% from 2021 to 2030.

The 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 the collection medium, it is divided into the geographic information system, satellites, unmanned aerial vehicle 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. By type, it is segregated into surface & field analytics, network & location analytics, Geo visualization, and others. According to industry vertical, it is classified into mining and manufacturing, government, environmental monitoring, defence and security, engineering and construction, insurance, automotive and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA

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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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Based on region, the market across North America held the lion's share in 2020, garnering around two-fifths of the global market. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 15.7% by the end of 2030.

The key market players analyzed in the global geospatial analytics market report include Bentley Systems, Incorporated, ESRI, Furgo NV, General Electric, TOMTOM International, Inc., Hexagon AB, Google, Inc., MDA Corporation, Oracle Corporation, SAP SE, Trimble, Inc., and Alteryx, Inc.

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COVID-19 Scenario-

● Various governmental bodies are adopting geospatial analytics to gain real-time scenarios in terms of tracking the spread of the coronavirus and getting an accurate and constant updating of infected patients, which in turn has impacted the global geospatial analytics market positively.

● This trend is quite likely to continue until the pandemic is completely over.

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