Geospatial Analytics Market Outlook
According to a new report by Expert Market Research titled, “Global Geospatial Analytics Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global geospatial analytics market is projected to grow at a CAGR of 12.7% between 2024 and 2032. Aided by rapid urbanisation, infrastructural developments, and an escalating need for location-based services across diverse sectors, the market is expected to grow significantly by 2032.
Geospatial analytics is a multifaceted approach that uses statistical analysis and pertinent data to interpret and manage information that corresponds to a geographic, spatial, or location-based context. From satellite navigation systems to infrastructural projects and urban planning, geospatial analytics plays a quintessential role. Its applications span across various sectors, including agriculture, forestry, environmental sustainability, and defence.
As per the geospatial analytics market analysis, the burgeoning adoption of integrated technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) in geospatial analytics has reshaped the trajectory of the market. With the advancements in technology, there has been an increasing utilization of geospatial analytics in predictive analytics, risk assessment, and understanding consumption patterns.
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The growing emphasis on location-based data for improved decision-making has propelled the geospatial analytics market growth. Enterprises are leveraging geospatial analytics to gain a competitive edge, optimising operations and streamlining resources based on location intelligence. Furthermore, the escalating demand for geospatial analytics in disaster management and climate change modelling underpins its significance in today’s data-driven age.
Another profound factor boosting the market is the rapid urbanisation and the resultant need for smart city solutions. With urban areas becoming more congested and complex, city planners and policymakers are leveraging geospatial analytics to design sustainable urban habitats, efficiently manage traffic, and optimise public transportation routes, propelling the geospatial analytics market demand.
The defence and military sectors worldwide are also significant contributors to the market growth. Advanced geospatial solutions provide strategic insights, terrain analysis, and surveillance, crucial for national security and defence planning. Additionally, the integration of real-time geospatial analytics in drone technology is revolutionising sectors like agriculture, where farmers are employing drones for land surveying and crop health monitoring, further increasing the geospatial analytics market size. Additionally, in the environmental spectrum, geospatial analytics aids in monitoring deforestation, assessing the impacts of climate change, and conserving biodiversity.
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Geospatial Analytics Market Segmentation
The market can be divided based on component, deployment mode, solution, technology, industry vertical, enterprise size, type, and region.
Market Breakup by Component
- Solution
- Service
Market Breakup by Deployment Mode
- On-Premise
- Cloud
Market Breakup by Solution
- Geocoding and Reverse Geocoding
- Data Integration and ETL
- Reporting and Visualisation
- Thematic Mapping and Spatial Analysis
- Others
Market Breakup by Technology
- Remote Sensing
- GPS
- GIS
- Others
Market Breakup by Industry Vertical
- Automotive
- Energy and Utilities
- Government
- Defence Intelligence
- Smart Cities
- Insurance
- Natural Resource
- Others
Market Breakup by Enterprise Size
- Large Enterprises
- Small and Medium Enterprises
Market Breakup by Type
- Surface and Field Analytics
- Network and Location Analytics
- Geovisualisation
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global geospatial analytics market. Some of the major players explored in the report by Expert Market Research are as follows:
- Oracle Corporation
- Google LLC
- Bentley Systems, Incorporated
- ESRI
- General Electric Co.
- Hexagon AB
- Maxar Technologies Inc.
- SAP SE
- Harris Geospatial Solutions, Inc.
- Critigen LLC
- Others
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