The Geospatial Analytics Market is projected to grow from USD 67.4 billion in 2022 to USD 119.9 billion by 2027, at a CAGR of 12.2% during the forecast period. The main goal of geospatial analytics is to process, convert, and confirm beneficial data for business procedures by integrating GIS technology with numerous science technology. Geospatial analytics are also being used in the manufacturing and automotive sectors to communicate better between businesses and their customers. Customers may record and process various services, make changes to existing orders, and handle client transfers thanks to geospatial analytics.
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Cloud segment to account for higher CAGR during the forecast period
The Geospatial analytics market is bifurcated on the basis of cloud and on-premises. The market size of the cloud deployment mode is estimated to be larger and projected to have a higher CAGR during the forecast period. A combination of spatial technologies with cloud computing offers an alternative platform for data, making it affordable and scalable. The deployment type comes with flexible subscription-based pricing models, and access to the services is provided through cloud-deployed network connectivity. A geospatial cloud providing GIS as SaaS offers many analytic and visualization capabilities.
SMEs segment to account for higher CAGR during the forecast period
The SMEs segment is a faster-growing segment in the Geospatial analytics market during the forecast period as the demand for geospatial analytics in organizations is increasing. The deployment of geospatial analytics varies according to the needs of different end users. The increasing volume of location-based spatial data in SMEs is one of the major factors driving the growth of the geospatial analytics market.
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Some of the key players operating in the Geospatial analytics market include Esri (US), Precisely (US), Caliper Corporation (US), Blue Marble Geographic (US), Google (US), eSpatial (Ireland), HexagonAB (Switzerland), TomTom (Netherlands), Trimble (US), Maxar Technologies (US), RMSI (India), Maplarge (US), General Electric (US), Bentley Systems (US), Fugro (Netherlands). These Geospatial analytics vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global geospatial analytics market.
HexagonAB (Hexagon) is a provider of information technology for geospatial and commercial enterprise applications that increase efficiency and quality. The business provides sensor solutions, software solutions, and automated solutions, such as metrology systems with sensor technology integrated, CAD software, and CAM software. Additionally, it provides geographic information system (GIS) software for creating 3D models and maps, as well as sensors for satellite location and data collection from the air and ground. The manufacturing, aerospace, automotive, defense, mining, and construction industries all use Hexagon products. The corporation operates in the Americas, Europe, Asia, the Middle East, and Africa. The headquarters of Hexagon are in Stockholm, Sweden.
Professionals and field mobility workers can enhance or change their work processes with the use of technological solutions offered by Trimble Inc. (Trimble). The business provides data gathering systems, fleet tracking systems, surveying gear, farming and overhead cranes, and satellite navigation systems. It benefits the markets for transportation and utilities as well as agriculture, civil engineering, architecture, surveying and mapping, GIS, building construction, environmental conservation, and natural resources. The business markets its goods through a variety of channels, including strategic partnerships, authorized agents, dealers, and distributors. The US, Sweden, Germany, Finland, New Zealand, Canada, the Netherlands, China, the UK, and India are among the countries where it conducts business. The US city of Sunnyvale, California, is where Trimble is based.
TomTom create and develop products for navigation and mapping. Technologies include mapping technology, road intelligence, automated driving services, APIs and SDKs for automakers, GPS sporting watches, and location-based data and services for bikers, divers, and joggers. Its product offerings also include navigational software and apps. Additionally, it offers cloud-based tools for building location-based software for businesses and the public sector. Additionally, the business offers traffic data, such as static and interactive data on off-street parking, on-street parking, gas stations, EV supercharger stations, and traffic cameras. It offers its goods and services to commercial establishments as well as to the telecommunications, transportation, and governmental agencies. TomTom is based in Amsterdam, Netherlands.
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