Geospatial Market Scenario:
As per the research by Market Research Future Reports (MRFR), the global geospatial market 2020 is primarily driven by the increasing demand for the convergence and integration of geospatial details with mainstream technologies. The research reveals that the global spatial market is estimated to value USD 78 million, thriving at a CAGR of 16.6% during the assessment period from 2016 to 2022. The report states that the increasing need for geospatial analytics solution with artificial intelligence across several industries is a significant factor resulting in market expansion. Moreover, there has been a surge in the adoption of Geospatial Marketfor security and safety, which further fuels the market expansion.
Besides, the growing use of GPS incorporated mobile phone devices, and the constant development in technology also presents several opportunities for market expansion. Moreover, the growing popularity of smart cities and the adoption of technologies in developing countries will further augment market expansion. On the other hand, the legal concerns with respect to the storage of personal information and the security issues are estimated to be the biggest threat to the market. Besides, the set up of the analytics demands higher monetary investment, which hinders the market. Also, the outbreak of COVID-19 has resulted in the daily business operations to come at a standstill. Several markets have come to stagnancy due to general observation in several countries.
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Major Key Players:
The established competitors of the worldwide geospatial market are Hexagon AB (Sweden), Fugro N.V. (Netherlands), DigitalGlobe, Inc. (U.S.), Bentley Systems, Inc. (U.S.), Trimble Navigation LTD. (U.S.), General Electric Co. (U.S.) ESRI (U.S.), MacDonald, Dettwiler & Associates, Ltd. (Canada), RMSI (India), Harris Corporation (U.S.), and a few others.
The worldwide geospatial market can be classified on the grounds of technology, type, end-users, and region.
- On the grounds of technology, the worldwide geospatial market can be classified into GPS, GIS, remote sensing, and others.
- On the grounds of the type, the worldwide geospatial market can be classified into network analytics, geo-visualization, surface analytics, and others.
- On the grounds of end-users, the worldwide geospatial market can be classified into natural resources, automotive, government, business, utility & communication, defense & intelligence, and others.
- On the grounds of the region, the worldwide geospatial market can be segregated into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
The geographical study of North America, Asia-Pacific, Europe, and the Rest of the World (RoW) has been conducted. As per the analysis by MRFR, the Asia-Pacific region is estimated to lead the worldwide market. The research reveals that the Asia-Pacific region is estimated to acquire the largest market share. The region has been focusing on developing the infrastructure and the smart cities, which is considered to be a significant reason for market expansion. Besides, the region is experiencing increasing adoption and the usage of these analytics across several sections.
Moreover, the region consists of the fastest developing nations of the world, ie. India and China. The presence of India, China, South Korea, and Japan is one of the most crucial factors resulting in regional market expansion. On the other hand, Europe is projected to witness a significant expansion during the forecast period. Among all, the UK, France, Germany are the nations dominating the region. The region is witnessing the surging demand owing to the security application for the aerospace and automotive sectors.
However, the outbreak of pandemic coronavirus has affected several regional markets. The constant lockdown observed in several regions has changed the market dynamics.
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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