MARKET OUTLOOK
The geospatial analytics market in Latin America has been projected to depict growth in terms of revenue and expand with a CAGR of 17.31% during the forecast years 2019-2027, according to a research conducted by Triton.
Brazil, Mexico and countries in rest of Latin America have been covered in the report on Latin America’s market on geospatial analytics.
The market for geospatial analytics in the Latin America region is mainly driven by factors such as the supportive governmental policies as well as the investments and funding by the national governments of the countries in this region.
Brazil has the largest manufacturing sector in Latin America. In addition, the retail market is on the rise, with growing economic conditions in this region, which further boosts the demand for geospatial analytics market in the country. Brazil dominated Latin America showing significant smart grid activity. Additionally, the country remains to welcome FDI from global-scale oil enterprises to upsurge direct investment in hydrocarbons. Rich mineral resources, augmenting industrial sector, rapidly rising agricultural industry and government encouraging foreign investment are the factors making the Brazil geospatial analytics market to grow lucratively during the forecast period.
Growth in distribution and logistics systems, as well as the retail sector, is expected to drive the demand for geospatial analytics in Mexico. This shift, aided by foreign direct investments, is helping the growth of the industrial sector in the country. Instead of relying on the local workforce, the manufacturers in Mexico are investing on the integration of automation into their production processes. This not only improves the efficiency and productivity, but also saves energy and makes the final product of international standards. Considering all these factors, the Mexico geospatial analytics market is going to show enormous profits in the automotive industry in the coming future.
COMPETITIVE OUTLOOK
The biggest brands in the geospatial analytics market are Atkins, Harris Corporation, Critigen LLC, Hexagon AB (Subsidiary: Intergraph), UrtheCast Corporation, Google, Inc., Esri, Inc. (Environmental Systems Research Institute), EOS Data Analytics, Inc., Autodesk, Inc., MDA Corporation (Macdonald, Dettwiler and Associates), Pitney Bowes, Inc., General Electrical Company, Trimble Geospatial, Fugro and Bentley Systems, Inc.