Geospatial Analytics Market Estimated To Garner USD 209.47 Billion By 2030 – Report by Market Research Future (MRFR)

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Geospatial Analytics Market to Grow Rapidly, Driven by Increasing Adoption of IoT and Cloud Computing

New York, USA, April 29, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Geospatial Analytics Market” information By Component, By Technology, By Type, By Application, By End-users – Forecast till 2030” market size to reach USD 209.47 Billion, Grow Approximately at 12.99% CAGR, by 2030.

Market Overview

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The global geospatial analytics market is set to grow rapidly over the next few years, driven by the increasing adoption of IoT and cloud computing technologies, according to a new report from Market Research Future. The report provides valuable insights into the market, including its size, growth prospects, key trends, and major players.

Dominant Key Players on Geospatial Analytics Market Covered are:

  • Trimble Inc.
  • Maxar Technologies
  • Hexagon AB
  • Bentley Systems, Inc.,
  • ESRI

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Geospatial Analytics Market Report Scope:

Report Metric Details
  Market Size   USD 209.47 Billion
  CAGR   12.99%
  Base Year   2021
  Forecast Period   2022 – 2030
  Historical Data   2018
  Forecast Units  Value (USD Million)
  Report Coverage  Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered  Type, Component, Application, End-User
  Geographies Covered  North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors  IBM Corporation (U.S.), Trimble Navigation Ltd. (U.S.), ESRI (U.S.), General Electric (U.S.), MDA (Canada), Fugro N.V. (Netherlands), and RMSI (India), Alteryx (U.S.), Hexagon AB (Sweden), Harris Corporation (U.S.), DigitalGlobe, Inc. (U.S.), Bentley Systems, Inc. (U.S.), and Transerve technologies (India)
  Key Market Opportunities The augmenting demand for geospatial analytics combined with artificial intelligence is expected to pave the way for growth in the forecast period.
  Key Market Drivers Surging demand for geospatial analytics consolidated with artificial intelligence and commercialization of geospatial data are expected to be driving factors for the growth of geospatial analytics market over the forecast period.


Covid-19 Impact:

The COVID-19 pandemic has had a mixed impact on the geospatial analytics market. On the one hand, the pandemic has led to a surge in demand for location-based data and analytics, as governments and businesses seek to better understand the spread of the virus and its impact on populations and economies. On the other hand, the pandemic has also led to supply chain disruptions and economic uncertainty, which have slowed down the adoption of geospatial analytics in some industries.

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Industry Trends:

One of the major trends in the geospatial analytics market is the increasing adoption of IoT and cloud computing technologies. These technologies are enabling businesses to collect and analyze vast amounts of data from connected devices and sensors, in order to gain valuable insights into their operations and improve decision-making.

Another trend in the market is the growing use of geospatial analytics in the transportation and logistics industry. By using location-based data and analytics, transportation and logistics companies can optimize their routes, reduce fuel consumption, and improve delivery times, among other benefits.

Market Segmentation:

The geospatial analytics market can be segmented on the basis of technology, deployment, application, and end-user. On the basis of technology, the market can be segmented into remote sensing, GPS, GIS, and others. On the basis of deployment, the market can be segmented into cloud-based and on-premise. On the basis of application, the market can be segmented into surveying and mapping, disaster management, climate change adaptation, and others. On the basis of end-user, the market can be segmented into government, transportation and logistics, utilities, retail, and others.

Regional Analysis:

The geospatial analytics market can be analyzed across five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the market over the forecast period, owing to the presence of major players in the region, as well as the high adoption of advanced technologies by businesses and governments in the region. Asia Pacific is expected to grow at the highest rate over the forecast period, driven by the growing adoption of IoT and cloud computing technologies in the region.

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Competitive Analysis:

The global geospatial analytics market is highly competitive, with several major players vying for market share.

Trimble Inc. is a leading player in the geospatial analytics market, offering a range of solutions for the construction, agriculture, and transportation industries, among others. The company has a strong focus on innovation and has recently launched several new products, including its Trimble SiteVision augmented reality system.

Maxar Technologies is another key player in the market, providing a range of solutions for the defense, intelligence, and commercial industries. The company has a strong focus on satellite imaging and analytics, and is leveraging its expertise in this area to develop new solutions for a range of industries.

Hexagon AB is a global leader in the geospatial analytics market, providing a range of solutions for the construction, surveying, and agriculture industries, among others. The company has a strong focus on innovation and has recently launched several new products, including its HxGN AgrOn Logistics solution.

Recent Developments in Geospatial Analytics Market

The geospatial analytics market has seen significant growth in recent years due to the increasing use of location-based services across industries such as retail, agriculture, transportation, and defense. As technology continues to advance, new developments are emerging in the market, such as:

  1. Integration with AI and Machine Learning: Geospatial analytics solutions are now being integrated with AI and machine learning technologies, enabling businesses to gain more insights from the vast amounts of data collected through location-based services. This integration allows for real-time analysis of geospatial data and predictive modeling, leading to better decision-making and business outcomes.
  2. Cloud-based Solutions: With the rise of cloud computing, geospatial analytics solutions are increasingly being offered as cloud-based services. This allows for easier access and collaboration among users, as well as scalability and flexibility for businesses of all sizes.
  3. Increased Focus on Privacy and Security: As location-based services continue to collect large amounts of data, there is a growing concern for privacy and security. Geospatial analytics providers are responding to this by implementing stricter data protection measures and improving their security protocols.
  4. Advancements in Mapping and Visualization: Geospatial analytics providers are constantly improving their mapping and visualization capabilities, allowing for more detailed and accurate representations of location-based data. This includes the use of 3D modeling and augmented reality, which can provide immersive and interactive experiences for users.
  5. Growing Integration with IoT: Geospatial analytics is increasingly being integrated with the Internet of Things (IoT) to provide real-time insights and automate processes. For example, sensors placed on vehicles or machinery can provide location-based data that can be analyzed to optimize routes and schedules.

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Overall, these recent developments in the geospatial analytics market are driving innovation and growth, and are expected to continue to do so in the coming years.

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