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Geospatial Analytics AI Market 2024-2033 - Size, Growth Analysis, Overview
Geospatial Analytics AI Market
The geospatial analytics AI market size is expected to see exponential growth in the next few years. It will grow to $0.32 billion in 2028 at a compound annual growth rate (CAGR) of 30.9%. The growth in the forecast period can be attributed to predictions about changes in land use, urban expansion, rise in private agricultural practices, AI's transformative usage, advancements in remote sensing. Major trends in the forecast period include increased use of ai and ml, rise of cloud-based platforms, expansion of applications, enhanced decision making, improved disaster preparedness and response.
Market Overview -
Geospatial analytics artificial intelligence (AI) refers to the integration of artificial intelligence (AI) techniques and algorithms to analyze and derive insights from geospatial data. Geospatial Analytics AI systems process vast amounts of geographical data to extract meaningful patterns, trends, and correlations and enable organizations to make data-driven decisions and solve complex spatial problems across various domains.
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Internet Usage Penetration's Effect On Geospatial Analytics AI Market
The growth in internet penetration is expected to propel the growth of the geospatial analytics AI market going forward. Internet penetration refers to the percentage of a population or a specific demographic group that has access to the internet. Internet penetration occurs when a certain percentage of the population or a specific demographic group gains access to the internet, facilitating widespread connectivity, information access, communication, and economic opportunities. Internet penetration uses geospatial analytics AI to analyze and understand spatial patterns of internet usage, enabling targeted interventions and infrastructure development to increase connectivity in underserved areas and optimize resource allocation for enhanced digital inclusion. For instance, in November 2022, according to a publication by the International Telecommunication Union (ITU), a Switzerland-based United Nations agency, global Internet penetration reached an estimated 5.3 billion people, representing 66% of the world's population in 2022, with a growth of 6.1% over 2021. Therefore, growth in internet penetration is expected to propel the growth of the geospatial analytics AI market.
Competitive Landscape -
Major companies operating in the geospatial analytics AI market are Alphabet Inc., Microsoft Corporation, Amazon.com Inc., Intel Corporation, IBM Corporation, Oracle Corporation, SAP SE, Presto Automation Inc., NVIDIA Corporation, Baidu Inc., Hexagon AB, Trimble Inc., DigitalGlobe Inc., Environmental Systems Research Institute Inc., Bentley Systems Inc., Databricks Inc., CE Info Systems Ltd., Dataiku Inc., Climate X, Genesys International Corporation Ltd., Geoblink SL, L3Harris Geospatial Solutions Inc., Climate X Ltd., Chloris Geospatial Inc., Skydweller Aero Inc.
Integration Of AI And Geospatial Platforms For Enhanced Scenario Planning And Monitoring
Major companies operating in the geospatial analytics AI market are developing advanced technologies, such as geospatial and AI platforms, for scenario planning and monitoring and to gain a competitive edge in the market. The geospatial and AI platforms for scenario planning and monitoring are defined by the combination of geospatial technology and artificial intelligence (AI) to analyze and interpret data related to geographic locations. AI adds computational power and predictive abilities to this framework, enabling the extraction of valuable insights from vast amounts of geospatial data. For instance, in January 2024, Deloitte Touche Tohmatsu Limited, a UK-based professional services company, launched a geospatial and AI platform, powered by Google Cloud, that utilizes generative AI technology from Vertex AI. This platform helps clients improve their planning processes for disaster response, infrastructure development, and urban planning by providing insights on land use, which ultimately leads to more sustainable decision-making.
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Key Segments -
The geospatial analytics AI market covered in this report is segmented -
1) By Data Source: Navigation Satellite System (GNSS), Remote Sensing, Geo Tagging, Other Data Sources
2) By Solution: Hardware, Software, Services
3) By Deployment: Cloud, On-Premises
4) By Application: Real Estate, Sales And Marketing, Coastal Application, Agriculture, Fraud Detection, Surveying, Hazard Assessment, Natural Resource Management, Transportation And Logistics, National Labs, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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