MARKET OUTLOOK
The European geospatial analytics market is expected to develop at a rapid pace and is expected to grow at a CAGR of 14.92% over the forecasting period 2019-2027.
The UK, Spain, Germany, Italy, France, Russia and countries in rest of Europe together constitute the market geospatial analytics in Europe.
The United Kingdom market is the fastest one to recover from the economic recession with the help of increased growth in the automotive and aerospace & defense sectors. The aerospace industry of the UK is massive, with the presence of global players. The government of the United Kingdom considers this industry as a tremendous opportunity for the growth of the country. The United Kingdom has the largest aerospace industry in Europe. Apart from the ease of doing business in this country, its location makes it excellent in manufacturing vehicles for the European market. The above-mentioned factors are the major reasons for the country attracting these investments. This has encouraged smaller supply chain companies as well to make similar investments.
Germany is Europe's biggest and most varied source of advanced technology. Geospatial analytics plays a critical role in urban development and enhancing the efficiency in several business verticals. In Germany, geospatial analytics are further being highly used for transportation & logistics and asset management, such as tracking the location of vehicles, traffic information, etc. The GIS technology is rapidly moving from its infancy within the defense sector to a critical defense wide infrastructure. In Germany, the GIS is widely used throughout the warfighting, business, automotive and natural resources domains. Defense is the major industry that uses geospatial analytics to manage a broad range of activities. Moreover, the adoption of this technology is quite high in logistics, resource planning and utility management. The German aerospace industry is one of the most ingenious and best-performing industries in the country and has observed a significant success rate over the last two decades.
COMPETITIVE OUTLOOK
Autodesk, Inc., Trimble Geospatial, Pitney Bowes, Inc., Fugro, Google, Inc., Atkins, General Electrical Company, Esri, Inc. (Environmental Systems Research Institute), Bentley Systems, Inc. and Harris Corporation are some of the players operating in the market.