The global geospatial analytics market is anticipated to be worth US$ 10.6 billion. The market will reach US$ 34.5 billion by 2032, increasing at a 12.5% CAGR over the assessment period.
According to FMI, technological improvements in machine learning and artificial intelligence, as well as big data technologies for analyzing geographical data, are driving the geospatial analytics industry. Geospatial analytics gathers geographical data and imagery from earth observation, geographic information systems, global navigation and satellite systems and positioning, location sensors, and mobile devices, structures data visualization, and aids in the tracking of relationships between places and people.
As per the report by the Bureau of Labor Statistics, geographical information system development will be specifically strong in cities with a well-established base of database and cartography technology. This includes federal government agencies comprising the United States Geological Survey, Forest Service National Oceanic and Atmospheric Administration, National Imagery and Mapping Agency, and Federal Emergency Management Agency.
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The telecom industry is transforming quickly and needs the support of modern spatial technology to enhance its effectiveness and meet the increasing demand. Cell phone utilization is rising in emerging and developed nations, and telecom companies are looking to expand their reach. This quick diversification of the telecom industry is driving the usage of geographic information systems.
The geographic network has proven to be specifically useful in today’s telecommunication industry, as it offers the means to generate highly precise maps, increase asset location, and visualize details in a more effective and interactive way. Utilizing geographic information tools at network installation, maintenance, and planning stages, telecommunication operators can lower network construction prices and make sure that their networks are formed in the right places. Thus, the increasing usage of GIS in the telecommunication industry will continue augmenting the growth in the market over the forecast period.
Key Takeaways from the Geospatial Analytics Market Report:
- By component, sales in the solutions segment are anticipated to grow at a CAGR of 3% through 2032.
- Based on application, demand in the network and location analysis segment is expected to increase at a CAGR of 8% over the assessment period.
- In terms of deployment mode, the cloud segment is anticipated to expand at a CAGR of 5% through 2032.
- Based on enterprise size, the small and mid-sized enterprises segment is estimated to grow at a robust CAGR of 4% through 2032.
- By industry, the adoption of geospatial analytics in the agriculture segment is anticipated to grow at a CAGR of 8%.
- South Asia and Pacific is expected to progress at the highest CAGR of around 6% followed by East Asia through 2032.
- The market in Japan is expected to progress at a CAGR of around 6% through 2032.
- In India, sales are expected to grow at a CAGR of close to 0% over the next ten years.
Competition Landscape:
Alteryx, Trimble Inc., Bentley Systems, Google, Esri, Oracle Corporation, Deloitte, General Electric, SAP, and Orbital Insights are some of the leading players operating in the global geospatial analytics market.
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Geospatial Analytics Market Segmentation:
By Component:
- Solutions
- Services
By Application:
- Surface and Field Analytics
- Network and Location Analysis
- Geovisualization
- Others
By Deployment Mode:
- Cloud
- On-premises
By Enterprise Size:
- Large Enterprises
- Small and Mid-Sized Enterprises (SMEs)
By Industry:
- Energy and Utilities
- Government and Defense
- Telecommunication Industry
- Mining and Natural Resources
- Automotive
- Agriculture
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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