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As pe New Research, Geographic Information System Market growing at 18% CARG by 2031 | Autodesk, Bentley Systems, PSI Services LLC, Cadcorp, GE, Hexagon AB, Maxar Technologies
Geographic Information System Market
GIS works by using layers of data, each representing a different type of information (e.g., topography, demographics, infrastructure), which can be overlaid and analyzed to understand spatial relationships. It uses coordinates and geospatial software to process and visualize this data on maps or 3D models.
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The Geographic Information System market was valued at USD 14.4 billion in 2023 and is projected to reach USD 37.1 billion by 2031, growing at a compound annual growth rate (CAGR) of 11.1% during the forecast period.
Some of the key players in the market are:
Autodesk Inc., Bentley Systems Incorporated, Caliper Corporation (PSI Services LLC), Computer Aided Development Corporation Limited (Cadcorp), Environmental Systems Research Institute Inc., General Electric Company, Geosoft Inc. (Seequent Ltd.), Hexagon AB, Maxar Technologies Inc., SuperMap Software Co. Ltd., among others.
The Pan American Health Organization uses geographic information systems in detecting, assessing, analyzing, and addressing health emergencies, under the Health Information and Risk Assessment Unit of the Health Emergencies Department. According to an article published by the organization in November 2023, in the past decades, the GIS significantly helped prepare for and respond to health emergencies and disasters. Growing health concerns worldwide and the significant role of GIS in managing emergencies are expected to boost their demand over the forecast period.
Market Dynamics:
Drivers:
1. Technological Advancements: Integration of AI, IoT, and big data analytics with GIS solutions is enhancing efficiency and accuracy.
2. Rising Demand for Location-based Services: Increasing reliance on geospatial data for business intelligence and decision-making.
3. Smart City Initiatives: Governments worldwide are investing in smart infrastructure, boosting GIS adoption.
4. Climate Change Monitoring: GIS plays a crucial role in tracking environmental changes and disaster preparedness.
Restraints:
1. High Implementation Costs: GIS deployment requires significant investment in software, hardware, and training.
2. Data Privacy Concerns: Growing cybersecurity threats pose challenges to GIS data security.
Opportunities:
1. Expansion of 5G Networks: Improved connectivity will enhance GIS applications in real-time tracking and analysis.
2. Emerging Markets Growth: Increasing adoption of GIS solutions in developing regions presents lucrative opportunities.
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Geographic Information System Market Report Segmentation:
By Component:
• Hardware
• Software
• Services
By Function:
• Mapping
• Surveying
• Telematics and Navigation
• Location-Based Services
By Device:
• Desktop
• Mobile
By End Use Industry:
• Agriculture
• Utilities
• Mining
• Construction
• Transportation
• Oil and Gas
• Others
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
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