The global geospatial analytics market size is expected to reach USD 134,479.7
million by 2025, registering a CAGR of 15.0% from 2019 to 2025, according to a
new study conducted by Grand View Research, Inc. Numerous innovations and
advancements in the drone technology and increasing deployment of Unmanned
Aerial Vehicles (UAVs) for remotely monitoring and gathering a large number of
location data with minimal human intervention are likely to unfold new
opportunities for market growth. Additionally, the increasing use of
GPS-enabled smartphones and devices is also anticipated to drive market growth.
Increasing smart city initiatives have
resulted in the growing need for innovative technologies for use in 3D urban
mapping; monitoring and mapping natural resources, agriculture, and utilities;
and disaster management. In case of natural disasters, location-based analytics
enables decision makers to take suitable actions. Moreover, major oil & gas
companies across the globe are increasingly deploying geospatial analytics
solutions to discover potential crude oil and natural gas deposits and to
monitor their vast pipeline network.
The use of geospatial technologies in the
automotive industry is increasing owing to the growing safety concerns among
passengers. According to data released by the U.S. Census Bureau, about 85.7
percent of the U.S. employees above 16 years of age commute to work in a van,
car, or truck, either by driving alone or via carpooling. With around 125
million people traveling by road every day, the U.S. transportation system
faces numerous challenges such as congested highways and fatal vehicle
collisions.
As per the National Highway Traffic Safety
Administration, it is estimated that on an average, 102 people die from vehicle
accidents every day. In an attempt to address this, automotive manufacturers
are focusing on implementing technologies such as IoT and location-based
services in vehicles to make driving safer and easier. The commercialization of
upcoming autonomous vehicles also heavily relies on the integration of
Geographic Information Science (GIS) and advanced geospatial technology.
Access Research Report of Geospatial Analytics Market @ https://www.grandviewresearch.com/industry-analysis/geospatial-analytics-market
Further key findings from the study suggest:
· The service segment is anticipated to
emerge as the fastest-growing component segment over the forecast period owing
to the increasing demand for deployment, training, and support services by
government and public safety agencies
· The network & location analytics
segment is anticipated to gain traction owing to the increasing use of network
& location analytics systems by companies for analyzing buying behavior and
foot traffic patterns as well as for studying behavior patterns in a
brick-and-mortar environment
· The military intelligence application
segment is expected to witness the highest growth over the forecast period
owing to the rising adoption of UAVs and increasing number of remote sensing
satellites
· Asia Pacific is expected to register the
highest CAGR from 2019 to 2025. Numerous smart city initiatives such as the
ASEAN Smart Cities Initiative are anticipated to fuel the demand for geospatial
analytics software in the region
· Key players operating in the geospatial
analytics market include Alteryx, Inc., DigitalGlobe, Fugro N.V., Hexagon AB,
RMSI, SAP SE, Trimble Inc., Maxar Technologies Inc., MapLarge, Harris
Corporation, Bentley Systems Incorporated, ESRI, General Electric Company,
Oracle Corporation, and Google LLC.
Grand View Research has segmented the
global geospatial analytics market based on component, type, application, and
region:
Geospatial Analytics Component Outlook
(Revenue, USD Million, 2014 - 2025)
·
Software
·
Service
Geospatial Analytics Type Outlook (Revenue,
USD Million, 2014 - 2025)
·
Surface & Field Analytics
·
Network & Location Analytics
·
Geovisualization
·
Others
Geospatial Analytics Application Outlook
(Revenue, USD Million, 2014 - 2025)
·
Surveying
·
Medicine & Public Safety
·
Military Intelligence
·
Disaster Risk Reduction & Management
·
Marketing Management
·
Climate Change Adaption (CCA)
·
Urban Planning
·
Others
Geospatial Analytics Regional Outlook
(Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
