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Geospatial Analytics Market Outlook, Growth Revenue And Strategies By 2033
Geospatial Analytics Market Outlook
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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