Geospatial Analytics AI Market Share, Trend Analysis, Key Drivers, Size And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Geospatial Analytics AI Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The geospatial analytics AI market size has grown exponentially in recent years. It will grow from $0.08 billion in 2023 to $0.11 billion in 2024 at a compound annual growth rate (CAGR) of 31.4%. The growth in the historic period can be attributed to growth of AI in various industries, increased necessity for surveillance and monitoring, rapid implementation of AI solutions, advancements in machine learning, growing demand for efficient operations.

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.

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Market Drivers and Trends:

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.

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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Major Key Players of the Market:

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.

Geospatial Analytics AI Market 2024 Key Insights:

• The Geospatial Analytics AI Market is expected to grow to $0.32 billion in 2028 at a compound annual growth rate (CAGR) of 30.9%.
• Internet Usage Penetration's Effect On Geospatial Analytics AI Market
• Integration Of AI And Geospatial Platforms For Enhanced Scenario Planning And Monitoring
• Asia-Pacific was the largest region in the geospatial analytics AI market in 2023. The regions covered in the geospatial analytics ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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