Geospatial Market Scenario:
The global spatial market could touch the valuation of USD 78 billion by 2022, concludes Market Research Future (MRFR) following analysis of the latest trends. It is estimated to attain a CAGR of 16.6% during the forecast period (2016-2022).
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Some the esteemed companies enlisted in the MRFR report are Hexagon AB (Sweden), Harris Corporation (U.S.), ESRI (U.S.), DigitalGlobe, Inc. (U.S.), MacDonald, Dettwiler & Associates, Ltd. (Canada), Fugro N.V. (Netherlands), General Electric Co. (U.S.), RMSI (India), Trimble Navigation LTD. (U.S.), Bentley Systems, Inc. (U.S.), to name a few.
Market Drivers and Top Challenges:
Geospatial Marketis used to analyze information depending on the lifestyle, behavioral and demography. This information study helps organizations in designing promotional programs and also targeting new customers. The need to bring down operational and logistic costs in organizations is projected to stimulate growth of the geospatial analytics market. Government make use of geospatial analytics to issue alerts during natural calamities, map crime locations, and designing disaster recovery mechanisms.
Rise in smart cities combined with soaring demand for innovative technologies in emerging nations could elevate the market position in the coming years. Market growth in the future will be in response to the rising use of GPS enabled smartphone devices. In addition, advancements in drone technology could give rise to a host of opportunities in the worldwide geospatial analytics market.
Some other growth-inducing factors in the geospatial market include mounting demand for the integration as well as convergence of geospatial information with commercial technologies along with commoditization of geospatial data. Moreover, surging demand for geospatial analytics solutions that have artificial intelligence capabilities coupled with growing need for geospatial solutions for security and safety could augment product popularity across multiple industries.
Geospatial market has been segregated depending on the type, technology, and end-users.
The types of geospatial technology are surface analytics, network analytics, geo-visualization, and others. Surface analysis type could note substantial demand in the coming years, as it helps analyze surfaces’ properties including temperature, rainfall, and elevation. Network analysis, on the other hand, offers solutions to business issues like warehouse, manufacturing location, and transportation.
Technology-wise, the market is considered for remote sensing, global positioning system (GPS), Geographic Information System (GIS), and others.
The end-users covered by the report are business, automotive, utility & communication, government, defense & intelligence, natural resources, and others. Automotive segment covers the largest share in the market, owing to the rising use of geospatial technologies in this industry.
The primary markets for geospatial are Europe, Asia Pacific, North America, and the Rest of the World (RoW).
The largest share of the worldwide market has been grabbed by Asia Pacific. The superlative market growth is the result of the rising adoption and use of geospatial analytics across different verticals in the region. Furthermore, smart city developments along with infrastructure has made a huge difference in the market dynamics in the region. In addition, soaring demand from public administration agencies for geographical surveys along with the rising demand in real-estate sector could benefit the market in the coming years.
Geospatial analytics market’s presence in Europe is expected to be strong during the forecast period. The market will be majorly concentrated in countries like Finland and Sweden. High adoption rate of geospatial analytics products has been noted in the oil and gas sector of the region, for the discovery of potential crude oil and natural gas.
North America houses a number of renowned companies that offer geospatial analytics software & solutions. The region also benefits from the high adoption of advanced technologies like big data, cloud computing, Artificial Intelligence (AI), business intelligence tools and Internet of Things (IoT).
ManTech International Corporation has recently acquired H2M Group (H2M), a prominent intelligence analysis services and solutions provider to expand its geospatial as well as intelligence analysis capabilities. H2M provides a host of services that back the intelligence community (IC), such as geospatial analysis, full motion video analysis and imagery, cartography and GEOINT operations.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
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List of Tables
Table 1 Global Geospatial Market, By Type
Table 2 Global Geospatial Market, By Technology
Table 3 Global Geospatial Market, By End-Users
List of Figures
Figure 1 Research Technology
Figure 2 Global Geospatial Market, By Type (%)
Figure 3 Global Geospatial Market, By Technology (%)
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