Press release
Major Growth Driver Identified in 2025 Geospatial Analytics Market: Geospatial Analytics And Smart City Evolution
Geospatial Analytics
What Is the Expected CAGR for the Geospatial Analytics Market Through 2025?
There has been a swift expansion in the size of the geospatial analytics market in the past few years. This market is expected to elevate from a worth of $91.97 billion in 2024 to $104.4 billion in 2025, achieving a compound annual growth rate (CAGR) of 13.5%. Key factors influencing the growth during the historic period include urbanization and population expansion, the management of natural resources, risk evaluation and disaster control, optimization of supply chain, as well as initiatives and regulations imposed by the government.
What's the Projected Size of the Global Geospatial Analytics Market by 2029?
The size of the geospatial analytics market is predicted to witness robust expansion in the coming years. The market is projected to escalate to a substantial $209.26 billion by 2029, with a compound annual growth rate (CAGR) of 19.0%. This surge in the prediction period can be linked to factors such as the advancement of smart cities, the preference for precision farming, healthcare and outbreak surveillance, incorporation with IoT and big data, and environmental preservation endeavors. The forecast period will also see major trends such as geospatial big data analytics, mobile geospatial apps, deployment of blockchain for securing spatial data, integration of social media with geospatial analysis, urban mobility, and planning of smart cities.
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Top Growth Drivers in the Geospatial Analytics Industry: What's Accelerating the Market?
The advancement of smart cities is predicted to stimulate the expansion of the geospatial analytics market. Characterized by their use of modern technologies to utilize available information for optimal resource use and activity management, smart cities rely on geospatial analytics for their planning and conceptualization. This system offers high-tech visualization tools to support decision-making, ultimately leading to better site identification, improved efficiency, and a deeper comprehension of intricate urban processes via geospatial data. Projections for 2025 estimate that international investments in smart city technology will see a progress from $58 billion in 2022 to $158 billion. As a result, the burgeoning of smart cities is a significant factor propelling the growth of the geospatial analytics market.
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What Trends Will Shape the Geospatial Analytics Market Through 2029 and Beyond?
Key players in the geospatial analytics market are unveiling novel platforms, like geospatial analysis platforms, to boost their market profitability. A geospatial analysis platform is an all-encompassing, integrated system that facilitates users in conducting in-depth analysis and extracting significant information from geographical and spatial data. To illustrate, in June 2022, Finland's ICEYE, a company specializing in continual surveillance of any global location using synthetic-aperture radar (SAR) technology for persistent monitoring abilities, introduced ICEYE Insights. This platform offers immediate flood impact analysis to insurance companies. By incorporating ICEYE's flood monitoring data, the platform presents close-to real-time flood updates to insurers. Consequently, this aids in data-guided decision-making, and lets insurers gauge the effect on particular customer and property segments. The platform aids in the positive reinforcement of customer communication, refining resource distribution, and optimizing reserves. ICEYE's SAR constellation guarantees constant data gathering, regardless of the time of day, and navigates through cloud cover to deliver reliable flood risk data.
What Are the Main Segments in the Geospatial Analytics Market?
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
Subsegments:
1) By Solutions: Software, Platforms, Tools
2) By Services: Consulting, Implementation, Support And Maintenance
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Which Top Companies are Driving Growth in the Geospatial Analytics Market?
Major companies operating in the geospatial analytics market include Esri, Hexagon AB, Oracle Corporation, Trimble Inc., SAP SE, Google LLC, IBM Corporation, Microsoft Corporation, TomTom International BV, HERE Technologies, Bentley Systems Incorporated, Alteryx Inc., Maxar Technologies, RMSI Pvt. Ltd., TIBCO Software Inc., Orbital Insight Inc., CARTO, Pitney Bowes Inc., DigitalGlobe Inc., Precisely (formerly Pitney Bowes Software), GeoIQ, Mapbox Inc., Fugro N.V., Critigen LLC, Blue Marble Geographics, AAM Pty Ltd, TerraGo
Which Regions Will Dominate the Geospatial Analytics Market Through 2029?
North America was the largest region in the geospatial analytics market in 2024. 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.
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