Global Geospatial Analytics Market, By Component (Software and Solutions and Services), Type (Surface and Field Analytics, Network and Location Analytics, Geo- Visualization and Others), Application (Surveying, Medicine and Public Safety, Disaster Risk Reduction and Management, Climate Change Adaptation and Others), Vertical (Business, Automotive, Utility and Communication, Government, Defense and Intelligence, Natural Resources and Others), Technology (Remote Sensing, Geographical Positioning System (GPS), Geographic Information System (GIS) and Other Geospatial Analytics Technologies), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Geospatial Analytics Market
Data Bridge Market Research analyses that the geospatial analytics market will exhibit a CAGR of 10.10% for the forecast period of 2021-2028. Rising adoption of computing and massive information analytics by the various end user verticals such as business, automotive, utility and communication, government, defense and intelligence, natural resources and others coupled with increased adoption of internet of things by small and medium scale enterprises factor attributable to the growth of geospatial analytics market. The geospatial analytics market value will therefore stand tall by USD 40.23 billion by 2028.
In simple terms, analytics is an examination or analysis of data which is done with the help of techniques and tools such as artificial intelligence, data mining, machine learning, and multivariate statistics. Analytics is a process that involves the examination of raw data sets using scientific models, hypothesis and theories. Therefore, geospatial analytics incorporates the use of data and math to discover relationships and make predictions and forecast against uncertainties. In other words, geospatial analytics assists an organization in anticipating and formulating strategies for future.
Rising expenditure for research and development activities on geospatial analytics by the various end user verticals is creating lucrative growth opportunities for the market. Rising demand to streamline the business operations and advancements in geospatial analytics with the introduction of computing and massive information analytics will further induce growth in the geospatial analytics market value. Rising adoption of connected devices by medium and small scale enterprises will also propel growth in the demand for geospatial analytics. Rising digitization of economies especially the developing ones coupled with increasing use of GPS devices in the field of GIS is another growth opportunity for the geospatial analytics market.
However, dearth of skilled professionals or trained personnel will pose a major challenge to the growth of geospatial analytics market. Also, high costs associated with implementation and use of geospatial analytics will further create hindrances for the growth of geospatial analytics market. Complexities involved in the development of geospatial analytics technology will also dampen the geospatial analytics market growth rate.
This geospatial analytics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on geospatial analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Geospatial Analytics Market Scope and Market Size
The geospatial analytics market is segmented on the basis of component, type, application, vertical and technology. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the geospatial analytics market is segmented into software and solutions and services.
- On the basis of type, the geospatial analytics market is segmented into surface and field analytics, network and location analytics, geo- visualization and others.
- On the basis of application, the geospatial analytics market is segmented into surveying, medicine and public safety, disaster risk reduction and management, climate change adaptation and others.
- On the basis of vertical, the geospatial analytics market is segmented into business, automotive, utility and communication, government, defense and intelligence, natural resources and others.
- On the basis of technology, the geospatial analytics market is segmented into remote sensing, geographical positioning system (GPS), geographic information system (GIS) and other geospatial analytics technologies.
Global Geospatial Analytics Market Country Level Analysis
Global geospatial analytics market is analysed and market size, volume information is provided by country, component, type, application, vertical and technology as referenced above.
The countries covered in the geospatial analytics market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America holds a prominent share in the geospatial analytics market owing to the earliest adoption of advanced technological solutions such as artificial intelligence, big data analytics and machine learning. Asia-Pacific on the other hand is projected to score the highest CAGR for the forecast period owing to increasing use of analytics and analytical tools by the various end user industries.
The country section of the geospatial analytics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Geospatial Analytics Market Share Analysis
The geospatial analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to geospatial analytics market.
The major players covered in the geospatial analytics market report are IBM Corporation, Oracle, Microsoft, SAP SE, Hexagon AB, GENERAL ELECTRIC COMPANY, Alphabet Inc., IMS Software, Inc., Xevo, ALTERYX, INC., DigitalGlobe, Trimble Inc., Maxar Technologies, L3Harris Technologies, Inc., BENTLEY SYSTEMS, INCORPORATED, MapLarge, TomTom International BV, Critigen, Esri and Autodesk Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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