Geospatial Analytics Market By Component (Software, Services), By Type (Surface & Field Analytics, Network & Location Analytics, Geovisualization, Others), By Application (Surveying, Medicine & Public Safety, Military Intelligence, Climate Change Adaptation, Others), , By End-use Vertical (Automotive, Agriculture, Government, Defense & Intelligence, Natural Resources, Construction & Real Estate, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

The global geospatial analytics market garnered a market value of US$ 44.94 Bn in 2018 and is likely to witness remarkable growth, with a CAGR of 14.9% across the forecast period from 2019 to 2027. Geospatial is a term used widely to describe the combination of analytical methods and spatial software with geographic or terrestrial datasets. Geospatial analytics solutions have helped facilitate higher quality, productive workflow and data exchange to drive productivity, value, safety, and efficiency across several end-use verticals.

In the modern world, the power of geospatial information is increasing to a greater extent. With the upsurge of the Internet of Things (IoT) and other such technologies, sensor networks are elevating the geospatial data rates higher than earlier. As a result, there has been a surge of sensor networks on the ground or mounted upon drones flying overhead, mobile devices carried by people, vehicles, atmosats at high altitudes, tethered aerostats, and microsats in orbit.

In addition, remote sensing and geographical information systems (GIS) provide the facilities to analyze, visualize and manipulate geospatial data for the decision-makers. Consequently, growing technological advancements coupled with increasing adoption of the Internet of Things and the introduction of big data analysis and Artificial Intelligence (A.I.) are expected to boost the market for geospatial analytics in the future.

Market Snapshot

Surveying Segment to Strengthen its Supremacy in Geospatial Analytics Market

Based on application, the global geospatial analytics market is segmented into surveying, military intelligence, medicine & public safety, disaster risk reduction & management, climate change adaptation, urban planning, and others. In 2018, the surveying segment led the market and was likely to grow at a significant rate in the years to come. The growth is mainly attributed to its wide-ranging adoption in monitoring agriculture and natural resource. For example, geospatial analytics solutions are used majorly for surveying purposes in the agricultural industry to understand topsoil erosion. Nevertheless, the military intelligence application is projected to rise as the highest growing segment over the estimation period. The growth of this segment is majorly accredited to the growing number of remote sensing satellites worldwide for border guarding, which demands the usage of geospatial analytics.

North America Garnered Lion Share in the Geospatial Analytics Market

In 2018, North America represented the largest market share in the geospatial analytics market and was likely to continue with its period of influence during the forecast period from 2019 to 2027. The U.S. mainly backs the growth of this region due to the increased adoption of advanced and emerging technologies such as IoT, cloud computing, business intelligence tools, big data analysis, etc. In the U.S., the Department of Defense (DoD), by tradition, has been the largest consumer of geospatial analytics. The intelligence community satellites have been continually producing constant streams of telemetry for decades, and sensor nets, defense vehicles, and many other data sources have sprung up over time. With this type of data, the DoD has helped promote data analysis and open-source, open data companies in the region. On the other hand, Asia Pacific is expected to emerge as the fastest-growing region in the geospatial analytics market. The growth of this region is mainly credited to the growing demand in countries such as Japan, China, and India owing to rapid industrialization and development in the logistics and infrastructure industries.

Competitive Insights

The major players identified in the geospatial analytics market include Alteryx, Inc., DigitalGlobe, Fugro N.V., Hexagon AB, RMSI, SAP SE, Trimble Navigation Ltd., Maxar Technologies Inc., MapLarge, Harris Corporation, Bently Systems, Inc., ESRI, G.E. Grid Solutions, LLC, Oracle Corporation, Pitney Bowes Inc. and Google LLC among others. The players in the geospatial analytics market are ceaselessly aiming to grow their influence and emphasizing their offerings to cater to the clientele's necessities and to withstand their leading place in the market. Product innovation, new product development, and partnerships are the players' key strategies in the geospatial analytics market.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

Geospatial analytics market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global geospatial analytics market based on component, type, application, end-use vertical, and geography.

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