According to IMARC Group’s latest report, titled “Geospatial Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’ the global geospatial analytics market reached a value of US$ 77.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 174.2 Billion by 2027, exhibiting a CAGR of 14.44% during 2022-2027.
Geospatial Analytics Market Outlook:
Geospatial analytics represents the analysis of geological data obtained from maps, graphs, statistics, and cartograms for the representation of features or objects on the surface of the earth. It generally involves the use of the global positioning system (GPS), geotagging, location sensors, social media platforms, 3D scanners, mobile devices, and satellite imaging solutions for surface analysis, network analysis, geo-visualization, etc. Geospatial analytics also adds location to the real-time geospatial data and offers accurate insights through visual patterns and images. It is utilized in geographic information systems (GIS) for weather modeling, population forecasting, and monitoring of retail sales trends. Consequently, geospatial analytics finds extensive applications for disaster management, urban planning and development, exploring natural resources, etc.
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Global Geospatial Analytics Market Trends:
The development of smart cities and the growing penetration of the Internet of Things (IoT) are primarily driving the geospatial analytics market. Additionally, continuous improvements in 5G infrastructures and numerous technological advancements, including the rising integration of connected devices with Artificial Intelligence (AI) and Machine Learning (ML) that helps in image classification, object detection, semantic segmentation, instance segmentation, etc., are further catalyzing the market growth. Besides this, the increasing prevalence of military tensions is propelling the adoption of geospatial analytics by defense organizations to detect cross-border infiltration, improve situational awareness, and enhance satellite monitoring of troops and enemy movements, which is acting as another significant growth-inducing factor. Moreover, it is also utilized to track the disease and monitor the affected areas, on account of the sudden outbreak of the COVID-19 pandemic, which is expected to fuel the geospatial analytics market over the forecasted period.
Geospatial Analytics Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the geospatial analytics market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these Key Players Include:
- Alteryx Inc.
- Descartes Labs Inc
- Environmental Systems Research Institute Inc.
- General Electric Company
- Hexagon AB
- Oracle Corporation
- Orbital Insight Inc.
- SAP SE
- Sparkgeo
- TomTom N.V.
- Trimble Inc.
- Ubimo Ltd. (Quotient Technology).
Key Market Segmentation:
Breakup by Component:
- Solution
- Services
Breakup by Type:
- Surface and Field Analytics
- Network and Location Analytics
- Geovisualization
- Others
Breakup by Technology:
- Remote Sensing
- GIS
- GPS
- Others
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Vertical:
- Automotive
- Energy and Utilities
- Government
- Defense and Intelligence
- Smart Cities
- Insurance
- Natural Resources
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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