Geographic Information System Market Size Growing at 13% CAGR Set to Reach USD 30.55 Billion by 2032, The Brainy Insights
The GIS market will experience rapid growth due to increasing applications for geographic information systems in multiple industries during the forecast period. Asia Pacific region emerged as the most significant global geographic information system market, with a 39% market revenue share in 2022.
Newark, Sept. 05, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 9 billion in 2022 global geographic information system market will reach USD 30.55 billion in 2032. The projected value of cities is estimated to reach $310 billion by 2025. Several factors, such as the growth of areas, increased investment in smart city development and supportive initiatives, will contribute to the global advancement of smart cities. The fundamental idea behind a city is to combine technology with knowledge to enhance various aspects of the city, including its economy, society, politics and overall well-being. One important focus is addressing issues like traffic congestion and availability of parking spaces. By incorporating technology, we can optimize parking spaces. Improve efficiency. Municipalities have some influence in reducing traffic volume on roads, and geographic information systems can play a role in facilitating initiatives.
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Report Coverage Details
|Market Size in 2022||USD 9 Billion|
|Market Size in 2032||USD 30.55 Billion|
|No. of Pages in Report||238|
|Segments Covered||Component Type, Function and End-User|
|Opportunities||The increasing applications of GIS|
|Restraints||The high costs of geographic information systems|
Key Insight of the Global Geographic information system Market
Asia Pacific is expected to dominate the market during the forecast period.
Asian economies are growing exponentially with rapid industrialization and urbanization. These developments have increased the demand for Geographic Information Systems (GIS) to efficiently plan and utilize resources for maximum benefit in various sectors such as agriculture, manufacturing, tourism, manufacturing and urban development. For example, GIS maps agricultural land to increase productivity, and environmental agencies also study changing weather conditions to predict natural disasters. These features are driving the regional GIS market has developed.
In 2022, the software segment dominated the market with the largest market share of 48% and revenue of 4.32 billion.
The component type segment is divided into hardware, software, and services. In 2022, the software segment dominated the market with the largest market share of 48% and revenue of 4.32 billion.
In 2022, the mapping segment dominated the market with the largest market share of 39% and revenue of 3.51 billion.
The function segment is divided into mapping, surveying, location-based services, telematics and navigation and others. In 2022, the mapping segment dominated the market with the largest market share of 39% and revenue of 3.51 billion.
In 2022, the urban planning segment dominated the market with the largest market share of 29% and revenue of 2.61 billion.
The end-user segment is divided into agriculture, architecture, building and construction, utilities, retail, energy, transportation, mining, urban planning, healthcare, and others. In 2022, the urban planning segment dominated the market with the largest market share of 29% and revenue of 2.61 billion.
Advancement in market
June 2023 – Esri India, the nation’s Geographic Information System (GIS) Software & Solutions supplier, has offered ten merit-based post-graduate scholarships worth INR 10 lakh for outstanding students. The usage of GIS is exploding across a wide range of businesses, and as a result, there is an ever-increasing demand for workers with geospatial expertise. Esri India wants to encourage students to develop their GIS skills and launch successful careers by offering these scholarships.
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Driver: Fast urbanization.
Rapid urbanization driven by population growth, increased disposable income and increased finance and infrastructure costs created the need for efficient urban planning. Cities of unplanned units caused problems such as congestion, pollution, overcrowding and cost of living. Planning new cities and rebuilding existing ones is necessary to improve living conditions. Governments around the world are implementing smart cities that focus on efficient urban mobility and transportation, digital infrastructure, and sustainable land development with easy access to urban infrastructure so the first. They enable cost-effective decision-making and more efficient use of available land, thus preventing waste. GIS also helps in developing urban transportation solutions based on factors such as population, office types, remoteness, topography etc., reducing environmental damage, Allowing dynamic planning and predicting future developments and changes as GIS will drive global geographic information systems market growth.
Restraints: High cost of geographic information systems.
Creating a GIS database requires extensive geographic data collection via satellites or drones and hours of surveying, mapping and locating. Analysis, data collection, processing and verification of non-spatial data accuracy are integrated for consumer use. The hardware, software and methods used in GIS are sophisticated and expensive. Small businesses and low-income stakeholders cannot afford GIS, thus restraining the growth of the market.
Opportunities: Growing use of GIS.
Technological advances and the digitization of the global economy have increased the adoption of GIS in various sectors. It is now widely used in agriculture, commerce, risk management, forest ecology, tourism, health, energy, education, and more. In agriculture, GIS enables soil and soil analysis, which significantly impacts crop yields. It helps identify high-risk areas around fault lines, helps predict the impact of seismic activity and prevents loss of life, property and capital Companies can use GIS to identify their target markets so it is well. The increasing use of GIS provides lucrative opportunities for market players during the forecast period.
Challenges: complex integration mechanism.
The data format used in the GIS system is highly varied from texts to images. Furthermore, GIS systems must be integrated with already available data to extract meaningful insights. It can be challenging to integrate GIS technology with traditional systems. Additionally, the lack of technical expertise and knowledge of GIS will hamper the market’s growth.
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Some of the major players operating in the global geographic information system market are:
• Autodesk, Inc.
• Bentley Systems
• Caliper Corporation
• Computer Aided Development Corporation Ltd.
• General Electric Co.
• Hexagon AB
• L3Harris Technologies
• Pitney Bowes Inc.
• Trimble Inc.
Key Segments cover in the market:
• Location-Based Services
• Telematics and Navigation
• Building and Construction
• Urban Planning
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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