The geospatial analysis is defined as the process that involves the collection, display, and manipulation of the imagery and satellite images with respect to the geographic coordinates explicitly. Market Research Future (MRFR) has published a research report on the global geospatial analytics market that estimates enhancement for this market at 19% CAGR (Compound Annual Growth Rate) between 2017 and 2023. By value, the market has been figured to be worth the US $ 95 bn by the end of the forecast period.
The remarkable factor for the global geospatial analytics market growth is the heavy usage of analytics in various commercial applications that include animal population management, climate change, crisis management, human population forecasting, land surveys, weather forecasting, and many more.
The second reason for the market growth is the availability of various technologies that are involved in geospatial analytics geographic information system (GIS), global positioning system (GPS), light detection and ranging (LiDAR) technology, remote sensing, and many more. These technologies provide real-time information to the business enterprises that help them to make a business decision and deploy their various services in different industry verticals such as agriculture, automotive, energy & power, manufacturing, and others. Other factors that can boost the market during the forecast period include artificial intelligence (AI) & commercialization of geospatial data and surging demand for geospatial analytics.
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The global geospatial analytics market segmentation segments the market into application, component, end-user, technology, type, and lastly, region. As per application-based segmentation, this market has been segmented into land administration, mobile mapping, survey solutions, and others.
The component-based segmentation segments the market into software and services. The services segment can be sub-segmented into managed services and professional services. The professional services have been segmented into consulting services and training services.
Regarding end-user, the market has been segmented into agriculture, construction & real estate, energy, forestry, marine & mining, retail, transportation & logistics, and others. Based on technology, the market has been segmented into 3D laser scanning, GIS, GPS, LiDAR technology, remote sensing, and others. By type, the market has been segmented into geo-visualization, network analytics, and surface analytics.
The regional segmentation of the global geospatial analytics market segments the market into regional markets namely Europe, Asia Pacific, North America, and rest of the world (RoW). Europe has been presumed to witness significant growth in the geospatial analytics market due to increase in demand for the geospatial technology regarding safety and security applications for the automotive and aerospace sectors. The biggest country-specific markets in this region are Germany, France, and the UK.
The key players in the global Geospatial Analytics Market include Alteryx (USA), Bentley Systems Inc. (USA), DigitalGlobe Inc. (USA), ESRI (USA), Fugro N.V. (Netherlands), General Electric (USA), Harris Corporation (USA), Hexagon AB (Sweden), IBM Corporation (USA), MDA (Canada), RMSI (India), Transerve technologies (India), and Trimble Navigation Ltd. (USA).
During the forecast period, the Asia Pacific region is likely to emerge as the fastest growing regional market due to the growing demand for the geospatial technology in the real estate sector in order to develop smart cities. Due to quality infrastructure, the most relevant country-specific markets in this region are China, India, Japan, and South Korea, followed by the remaining countries of the Asia Pacific region.
North America is a primary regional market due to the technological advancements and the presence of key market players. In this region, the major country-specific markets are USA, Canada, and Mexico.
The RoW segment covers the nations in the Middle East & Africa (MEA). In MEA countries, the market is minimal because most countries being poor, lack of awareness, lack of education, lack of right infrastructure, lack of skilled professionals and lack of technological advancement.
Latest Industry News
Search company Elastic is a search company is investing more on Elastic Maps, an application for visual exploration and analysis of geospatial data. 3 APR 2019
Kleos Space has signed a collaborative, non-binding, Memorandum of Understanding (MoU) with Israel-based end-to-end geospatial intelligence company ImageSat International (iSi). The purpose of this deal is to explore opportunities to use Kleos’ maritime Radio Frequency (RF) activity-based satellite data in order to enhance geospatial intelligence analytics. 2 APR 2019
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LIST OF TABLES
Table1 Global Geospatial Analytics Market: By Region, 2017-2023
Table2 North America Geospatial Analytics Market: By Country, 2017-2023
Table3 Europe Geospatial Analytics Market: By Country, 2017-2023
Table4 Asia-Pacific Geospatial Analytics Market: By Country, 2017-2023
Table5 The Middle East & Africa Geospatial Analytics Market: By Country, 2017-2023
LIST OF FIGURES
FIGURE 1 Global Geospatial Analytics Software Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Geospatial Analytics Software Market
FIGURE 4 Value Chain Of Global Geospatial Analytics Software Market
FIGURE 5 Share Of Global Geospatial Analytics Software Market In 2017, By Country (In %)
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