Geospatial Analytics Market - Know the Untapped Revenue Growth Opportunities

Geospatial Analytics market to reach over USD 187.51 billion by the year 2031 Geospatial Analytics

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Geospatial Analytics Market Size, Share & Trends Analysis Report By Component, Solution (Geocoding and Reverse Geocoding and Thematic Mapping and Spatial Analytics), Type (surfacing & files analytics, network & location analytics and visualization),

Technology (remote sensing, global positioning systems, and geographic information systems), Deployment Mode (cloud and on-premises), Organization Size (large enterprises and SMEs), Application (surveying, medicine & public safety, disaster risk reduction & management, urban planning, transportation planning & management, natural resource management, agriculture value chain and environment impact analytics),

Vertical (energy & utilities, government, defense & intelligence, BFSI, retail estate & construction, healthcare, mining & natural resources, automotive & transportation and agriculture) - Market Outlook And Industry Analysis 2031"
The global geospatial analytics market is estimated to reach over USD 187.51 billion by 2024-2031, exhibiting a CAGR of 12.47% during the forecast period.

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Geospatial analytics gathers, organizes, and modifies geographic data to deliver answers and insights. Although numerous drivers are propelling the worldwide geospatial analytics market's growth, one major obstacle is the shortage of skilled labour. Geospatial analytics is a discipline that involves complicated data analysis and calls for various technical abilities, including familiarity with computer languages, GIS software, and data analysis and visualization tools.

The need for geospatial analytics knowledge is rising in several sectors, including urban planning, transportation, defence, and agriculture. Data privacy issues are this market's main barrier. Much data, including private and sensitive information, must be gathered and analyzed using geospatial analytics. Data security and privacy have been scrutinized; certain businesses may need to be more flexible using these tools.

List of Prominent Players in the Geospatial analytics market:
• Bentley Systems
• Blue Marble Geographic
• Caliper Corporation (US)
• CARTO (US)
• Descartes Lab (US)
• eSpatial (Ireland)
• Esri
• Fugro
• General Electric
• Geomatic Consulting International (Vietnam)
• Geospin (Germany)
• Geoviet Consulting (Vietnam)
• GIS Co. Ltd. (Thailand)
• Google
• HERE Technologies (Netherlands)
• HexagonAB
• Imago Global (Mynamar)
• Mandalay Technology (Myanmar)
• Mapidea (Portugal)
• Maplarge
• Maplarge (US)
• Mappointasia (Thailand)
• Maxar Technologies
• Orbica (New Zealand)
• Orbital Insights (US)
• Pasco Corporation (Japan)
• Precisely
• Remote Technologies (US)
• RMSI
• Skymap Global (Singapore)
• Sparkgeo (Canada)
• Spatial
• Suntac Technologies (Myanmar)
• TomTom (Netherlands)
• Trimble
• UBIMO(US)
• Vegastar Technology (Vietnam)

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Market Dynamics:
Drivers-
Technological advancements have been a major driver of the global geospatial analytics market in recent years. As technology continues to improve, more and more data can be gathered, analyzed, and visualized in real-time, providing businesses with valuable insights that can be used to construct more informed conclusions.

The increasing use of artificial intelligence, machine learning, and big data analytics has also helped to drive the growth of the geospatial analytics market. These technologies enable companies to extract more value from their data and better understand complex spatial relationships. Moreover, the growing demand for location-based services, such as navigation, asset tracking, and emergency response, has also played a key role in driving the adoption of geospatial analytics solutions across various industries.

Challenges:

The prime challenge is the lack of skilled manpower, which is predicted to reduce the growth of the geospatial analytics market. However, there currently needs to be more skilled professionals who can meet this demand, particularly in emerging markets where the use of geospatial analytics is growing rapidly. Many organizations are investing in training and education programs to address this challenge to build a pipeline of skilled geospatial analysts. This includes partnerships with universities and vocational training programs to provide students with the necessary skills and experience to work in the field. Additionally, companies are using automation and artificial intelligence to augment the skills of their existing workforce and make geospatial analytics more accessible to non-experts.

Regional Trends:

The North American geospatial analytics market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly. This can be linked to the presence of significant players in the region and the increasing adoption of geospatial analytics solutions in various industries such as government, defense, and transportation. Additionally, the region has a highly developed technology infrastructure and a high level of awareness about the benefits of geospatial analytics, which further fuels the market's growth.

Recent Developments:

• In May 2022, Old City Innovations (formerly Geospoc LLC) was purchased by India-based decision intelligence business SatSure Analytics Pvt. Ltd. for an unknown sum.
• In March 2022, Esri and PrecisionHawk announced a partnership. The best geospatial intelligence is made available through this alliance.
Segmentation of the Geospatial Analytics Market-

By Component
• Solution
o Geocoding & Reverse Geocoding
o Data Integration & ETL
o Report Visualization
o Thematic Mapping & Spatial Analysis
• Service

By Technologies
• Remote Sensing
• Global Positioning Systems
• Geographic Information Systems

By Type
• Surfacing & Files Analytics
• Network & Location Analytics
• Geovisualization

By Deployment mode
• Cloud
• On-premises

By Organization Size
• Large Enterprises
• SMEs

By Application
• Surveying
• Medicine & Public Safety
• Disaster Risk Reduction & Management
• Urban Planning
• Transportation Planning & Management
• Natural Resource Management
• Agriculture Value Chain
• Environment Impact Analytics

By Vertical
• Energy & Utilities
• Government
• Defense & Intelligence
• BFSI
• Retail Estate & Construction
• Healthcare
• Mining & Natural Resources
• Automotive & Transportation
• Agriculture

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa


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