Geospatial Analytics Market: Key Trends and Forecast Report 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Geospatial Analytics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $173.55 billion In 2028 At A CAGR Of 16.6% :

The geospatial analytics market size has grown rapidly in recent years. It will grow from $81.95 billion in 2023 to $93.99 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to urbanization and population growth, natural resource management, risk assessment and disaster management, supply chain optimization, government initiatives and regulations.

The geospatial analytics market size is expected to see rapid growth in the next few years. It will grow to $173.55 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to smart city development, precision agriculture adoption, healthcare and epidemic monitoring, integration with IoT and big data, environmental conservation efforts. Major trends in the forecast period include geospatial big data analytics, mobile geospatial applications, blockchain integration for spatial data security, social media and geospatial analysis, urban mobility and smart city planning.

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Geospatial Analytics Market Major Segments
The geospatial analytics market covered in this report is segmented -

1) By Components: Solutions, Services
2) By Type: Surface And Field Analytics, Network And Location Analytics, Geovisualization, Other Types
3) By Technology: Remote Sensing, GIS, GPS, Other Technologies
4) By Application: Surveying, Medicine And Public Safety, Disaster Risk Reduction And Management, Climate Change Adaptation, Other Applications
5) By End-User Industry: Agriculture, Utility And Communication, Defense And Intelligence, Government, Natural Resources, Other End User Industries

Key Driver - Geospatial Analytics And Smart City Evolution

The development of smart cities is expected to propel the growth of the geospatial analytics market going forward. A smart city is a modern technology metropolitan region that makes use of available information to optimize resource consumption and control activities. Geospatial analytics integrates smart city planning and conceptualization by delivering high-end visualization tools to aid decision-making for better site identification, increased efficiency, and a better understanding of complex urban processes using geospatial data. For instance, according to Otonomo, an Israel-based automotive data services platform, smart cities are expected to grow to over $820 billion by 2025 from $410.8 billion in 2020. Therefore, the development of smart cities is driving the geospatial analytics market growth.

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Prominent Trend - Innovative Geospatial Analysis Platforms Transforming The Landscape

Major companies operating in the geospatial analytics market are launching new platforms such as geospatial analysis platform to increase their profitability in the market. A geospatial analysis platform refers to a comprehensive and integrated system that allows users to perform advanced analysis and derive meaningful insights from geographic and spatial data. For instance, in June 2022, ICEYE, a Finland-based company that enables continuous surveillance of any global location through the use of synthetic-aperture radar (SAR) technology, ensuring persistent monitoring capabilities launched ICEYE Insights that offers insurers immediate flood impact analysis. The platform provides insurers with near real-time flood situational awareness by integrating ICEYE's flood observation data. This enables data-driven decision-making, allowing insurers to assess the impact on specific customers and properties. The platform supports proactive customer communication, resource allocation refinement, and reserve optimization. ICEYE's synthetic-aperture radar constellation ensures continuous data collection day or night, overcoming cloud cover for reliable flood hazard information.

Geospatial Analytics Market Players
Major companies operating in the geospatial analytics market report are UnitedHealth Group Incorporated, McKesson Corporation, Optum Inc., Walgreens Boots Alliance Inc., Accentur*e plc, International Business Machines Corporation, Tata Consultancy Services Limited, Capgemini SE, NTT DATA Corporation, WellCare Health Plans Inc., Tenet Healthcare Corporation, Cognizant Technology Solutions Corporation, IQVIA Holdings Inc., DaVita Inc., Wipro Limited, Quest Diagnostics Incorporated, Xerox Holdings Corporation, Lonza Group AG, PAREXEL International Corporation, Genpact Limited, Sutherland Global Services Inc., R1 RCM Inc., Mphasis Limited, Infosys BPM Limited, WNS Limited, Omega Healthcare Investors Inc., Firstsource Solutions Limited, HCL Technologies Limited, GeBBS Healthcare Solutions Inc., Invensis Technologies Pvt Ltd

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Largest And Fastest Growing Region In The Market
North America was the largest region in the geospatial analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geospatial analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Geospatial Analytics Market Report Structure
3. Geospatial Analytics Market Trends And Strategies
4. Geospatial Analytics Market - Macro Economic Scenario
5. Geospatial Analytics Market Size And Growth
…..
27. Geospatial Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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