Rising use of AI and ML in geospatial analytics, increasing number of government projects, and rapid urbanization are some key factors driving market revenue growth
Market Size – USD 53.45 Billion in 2020, Market Growth – at a CAGR of 12.1%, Market Trends – Increase in number of government projects
The global geospatial analytics market size is expected to reach USD 134.23 Billion in 2028 and register a CAGR of 12.1% during the forecast period, according to latest analysis by Emergen Research. Some major factors driving market revenue growth of the market are rising use of Artificial Intelligence (AI) and Machine Learning (ML) in geospatial analytics systems, rapid urbanization, rising number of government projects, and advancements in 5G communication technology. For instance, in March 2018, Esri and Microsoft launched Geospatial AI in Azure. Rise in demand for geospatial analytics from the military sector in order to optimize placement of resources by using predictive analytics is another factor contributing to market revenue growth. Geospatial analytics is being widely used in urban planning and smart cities. In addition, geospatial data plays an important role in the development and deployment of 5G network infrastructure.
Key Highlights From the Report
• In July 2020, ESRI added a new deployment option to ArcGIS Indoors and Space Planner and for ArcGIS Indoors Mobile in ArcGIS Pro, as part of June 2020 update.
• In June 2020, Alteryx introduced intelligence suite and analytics hub with an aim to boost the process of analytic automation. This system enables organizations to transform the analytic process digitally to drive business and achieve societal outcomes.
• North America accounted for largest revenue share contributor in 2020 and is expected to increase further during the forecast period. This can be attributed to presence of key players in the region. Availability of advanced systems and modernized research facilities in countries in the region is also driving market growth. Rise in demand for location-based services and real-time information is another factor driving market growth.
• Major companies operating in Intelligent power module are ESRI, Precisely, Oracle Corporation, Alteryx, Fugro N.V., Hexagon AB, RMSI, SAP, Trimble Navigation Ltd., and Maxar Technologies.
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For this report, Emergen Research has segmented the global geospatial analytics market based on component, solution, application, deployment type, and region.
Component Outlook (Revenue, USD Billion; 2018–2028)
Solution Outlook (Revenue, USD Billion; 2018–2028)
• Geocoding and Reverse Geocoding
• Data Integration and ETL
• Reporting and Visualization
• Thematic Mapping and Spatial Analysis
• Others (DBMS and Data Storage Software)
Application Outlook (Revenue, USD Billion; 2018–2028)
• Medicine and Public Safety
• Disaster Risk Reduction and Management
• Climate Change Adaptation
• Others (Supply Chain Planning and Optimization, Sales and Marketing Optimization, Predictive Asset Management, and Inventory Management)
Deployment Type Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018–2028)
• North America
8. Rest of Europe
• Asia Pacific
4. South Korea
5. Rest of APAC
• Latin America
2. Rest of LATAM
• Middle East & Africa
1. Saudi Arabia
3. South Africa
5. Rest of MEA