MARKET OUTLOOK
The Asia-Pacific geospatial analytics market is the fastest growing region at 18.27% of CAGR over the forecasting years from 2019 to 2027.
India, China, Japan, South Korea, ASEAN countries, Australia & New Zealand and countries in rest of Asia-Pacific have been included in the report on the geospatial analytics market in Asia-Pacific.
The geospatial analytics market in the Asia-Pacific region is burgeoning at a sizable momentum. Several factors are driving the growth of this market in the APAC region, such as the increasing number of start-ups being established, large number of investments being made by the governments and the presence of several private companies that focus on innovation & development related to geo-intelligence and geospatial imagery.
China is racing ahead with large-scale infrastructural projects, both domestic and international, which promise to kick-start businesses. In addition, China is the largest manufacturing hub in the world, particularly in the automotive industry. Furthermore, China’s automotive industry is the largest in the world, producing more than 20 million vehicles per year, nearly twice that of the United States. The country’s automotive industry has emerged to be the largest in the world. It is expected to maintain its position with a double-digit growth rate during the forecast period, in turn, driving the market for geospatial analytics. The increase in the automotive sector is driving the demand for GPS, GIS and remote sensing technologies, which are further driving the demand for geospatial analytics. China’s economy has been continuously growing and so have its transportation and logistics sectors. It is becoming a more mature & confident country, and a driving force in the new global economic structure. The other industry that is witnessing a constant growth rate is the retail sector. This is owed to a population that is over a billion.
COMPETITIVE OUTLOOK
Some of the prominent players in the market are Fugro, General Electrical Company, Harris Corporation, Pitney Bowes, Inc., Trimble Geospatial, Autodesk Inc., Esri, Inc. (Environmental Systems Research Institute), Bentley Systems, Inc., Atkins and Google, Inc.