How to Invest in the Geospatial Analytics Market: A Financial Analysis

The Geospatial Analytics Market Size was USD 56.88 billion in 2020, and it is anticipated to increase by 12.8% CAGR from USD 63.61 billion in 2021 to USD 147.58 billion in 2028. Based on our analysis, the global market showed a notable increase of 11.7% in 2020 compared to year-over-year growth between 2017 and 2019. The market size for various geospatial solutions, including spatial analysis and thematic mapping, geocoding and revere geocoding, data integration, and ETL tools, is included. Geospatial analytics solutions experienced a positive demand shock across all regions during the pandemic, demonstrating the unprecedented and staggering impact of COVID-19 on the world. The market's growth and demand, which will resume to pre-pandemic levels once the pandemic is over, are what account for the CAGR's consistent increase.

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Information about the report:

  • Forecast Timeframe: 2021-2028
  • The starting year is 2020
  • Market Size in 2020: USD 56.88 billion
  • The market size in 2028 will be USD 147.58 billion
  • CAGR: 12.8%
  • Segments Included: according to deployment type, application, enterprise type, sector, and geographic region

The Geospatial Analytics Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The size of the Geospatial Analytics Market is the total amount of money service providers make when selling their products to customers. Geospatial Analytics Market share is the percentage of the market that is under the control of one or more providers. The term Geospatial Analytics Market Segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the various sectors or domains that use applications for their business operations or activities.

Analyses of the worldwide Geospatial Analytics Market are conducted across regions, end-user industries, and material types. The study thoroughly examines segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.

By Component Analysis,

The global market has been divided into solutions and services based on components.

In 2020, geospatial analytics solutions held the largest market share, and it is anticipated that they will continue to rule the market throughout the forecast period. The solutions include data integration and ETL, geocoding and reverse geocoding, thematic mapping & spatial analysis, reporting & visualization, and others. To identify, assess, and react to shifting market conditions and trends, businesses have begun integrating geospatial analytics tools and solutions. Companies have started using geospatial analytics to increase operational productivity, gain a better understanding of business patterns, and reduce operational costs.

By Application Analysis,

The market is divided into categories for surveying, coping with climate change, public safety, and medicine delivery, disaster management and risk reduction, and others based on application.

The market share that was most heavily dominated by the surveying application. Surveying solutions provided by major players is the segment's main focus. For instance, Esri's construction surveying solution establishes an important link between geospatial data for construction and the actual layout of construction facilities. The segment is expanding as a result of the increased use of geospatial analytics in a variety of sectors, including manufacturing, utilities, oil & gas, architecture, engineering, and security and defense.

By Deployment Analysis,

The most popular geospatial analytics solutions were cloud-based. Geospatial solutions that use cloud computing are included in this segment. To manage geospatial data, Hexagon AB, for instance, provides cloud-based geospatial solutions. Cloud-based geospatial analytics systems can be accessed via private, public, hybrid, or community cloud services, depending on the security, collaboration, and ownership requirements of the organization. To support ongoing updates and open access, this cloud data might be made accessible to the general public. Furthermore, on-demand geospatial data, pictures, and maps are provided by cloud-based analytics solutions, which reduces the amount of time needed for data collection. Businesses can share data and carry out tasks like viewing, generating, monitoring, managing, and analyzing geospatial data thanks to it.

By Enterprise Size Analysis

The global market is divided into large and small- and medium-sized businesses (SMEs) based on enterprise size. 

In 2020, major businesses will hold the largest market share globally. Due to a strong preference for analytical approaches to improve results and develop business plans based on location and GIS data, geospatial technologies are expected to expand in popularity among large organizations.

List of Key Companies Profiled: 

The development and provision of various GIS and mapping solutions is the main focus of market players like Alteryx, Microsoft Corporation, Bentley Systems, Incorporated, CARTO, Descartes Labs, Inc., Google LLC (Alphabet Inc.), Pitney Bowes, TomTom, Fugro, Here Technologies, Zebra Technologies Corporation, and others. Companies are being forced to adopt various business strategies in order to increase their market share due to the intense competition in the industry.

List of Key Companies Proposed:

“Alteryx (California, U.S.), Microsoft Corporation (New Mexico, U.S.), Bentley Systems, Incorporated (Pennsylvania, U.S.), CARTO (New York, U.S.), Descartes Labs, Inc. (New Mexico, U.S.), Esri (California, U.S.), Google LLC (Alphabet Inc.) (California, U.S.), Pitney Bowes (Connecticut, U.S.), TomTom (Amsterdam, Netherlands), Fugro (Leidschendam, Netherlands)”

By Region,

Geographically, the market is divided into five main regions: South America, North America, Europe, Asia Pacific, and the Middle East & Africa.

The global market will be dominated by North America in 2020. In North American industrial applications like construction, agriculture, mining, transportation, and the military and defense, geospatial technology is widely used. For instance, the United States National Mining Association will use location-based services and geographic information systems (GIS) to plan and gather geophysical, geological, and topographic data and information about natural resources starting in May 2020. It is anticipated that in the coming years, demand for real-time information and location-based services will increase due to the development of mobile GIS technologies, which will positively impact the North American market.

The study report provides a thorough analysis of the size of the Geospatial Analytics Market globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The Geospatial Analytics Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Geospatial Analytics Market industry will be able to gain the upper hand by using the study as a valuable resource.

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