Geospatial Analytics Market

Geospatial Analytics Market Insights

The geospatial analytics market will propel at a high growth between the forecast period. The definition of geospatial analytics is a collection of terrestrial data having an address, coordinates expressly in longitudes and latitudes, city, town, village, or ZIP code. The data is solicited through the means of satellite, GPS (Global Positioning System), remote sensing as well as geotagging. Further, to analyze and map geospatial data, GIS (Global Information System) is utilized. Through sensors, remote sensing tools are used to gather geophysical data without any physical contact. The outbreak due to the coronavirus has agitated the growth of diverse industries which has hit the augmentation of the economy in various nations. But, it has afforded immense opportunities for the geospatial analytics market. This technology has backed during the COVID crisis by monitoring and tracking patients, mapping of containment zones, and recognizing the source of infections in risk areas that helped in saving millions of lives. The increase in urbanization, development of smart cities, the deployment of advanced technologies such as big data analytics, AI, & MI-based GIS solutions are boosting the market growth for geospatial analytics.

Geospatial Analytics Market: By Type of Components

Solutions and services are the sections based on the type of components. Geocoding & reverse geocoding, data integration & ETL, reporting & visualization, and thematic mapping & spatial analysis come under the solution segment. Whereas, the units of services are consulting, system integration & deployment, and support & maintenance. Services are seen to have a remarkable demand during the forecast period, due to the increase in the need for induction, analyzation, service supporting the software deployment. Hence, elevating business operations are used in numerous firms by cycling productivity and agility ahead.

Geospatial Analytics Market: By Type

Given by type, the Geospatial market is divided into surface & field analytics, network & location analytics, and geovisualization among others. Surface & field analytics have been manifesting substantial acceleration but, the network & location analytics segment is seen to emerge as the highest share in CAGR% through the period, because of inflation in the customization of optimizing market strategies, and generate & deliver profoundly habituated content.

Geospatial Analytics Market: By Type of Technology

The market is explained into remote sensing, GIS, and GPS based on technology. The remote sensing segment will be the highest revenue generator segment in the global geospatial market. The propellors thrusting the market are an uptick in corruption and frauds linked to land & property and border disputes amongst countries leading to empower military intelligence.

Geospatial Analytics Market: By Type of Deployment Mode

Based on deployment mode, cloud and on-premises are the wings of the market. On-premises will make a tremendous enrichment to the market as an addition in data security and privacy concerns, transforming business courses and institutions using geospatial analytics solutions and services to increase productivity, lessen operational cost and enhance more efficiency respectively.

Geospatial Analytics Market: By Type of Organization Size

Based on the size of the organization, the market is explained in two types namely SMEs and large organizations. SMEs are seen to have a major climb in the outlook period. Demand by spatial users in increasing volume, boost in digitization, extension in data analyzation & interpretation, and expansion in cloud data solutions and services act as characteristics stimulating the market.

Geospatial Analytics Market: By Application

Given by application, the market is explained into surveying, medicine & public safety, disaster risk reduction & management, and climate change adaptation among others. Surveying will emerge as the fastest-growing segment as an increment in border patrolling to curb terrorist threats, natural resource monitoring, and adoption of technology in sectors like agriculture, animal husbandry, and fishery, usage of LiDar technology are the factors that prompt the market.

Geospatial Analytics Market: By Type of Vertical

Based on vertical, the market is bifurcated into business, automotive, utility & communication, government, defense & intelligence, natural resources, and others are the segments.  Business is seeing an exponential ascent for a few years, but defense & intelligence is about to see an upsurge in the market. An increase in remote solutions, border tracking & monitoring, data visualization, and implementation of GIS solutions are some of the traits assisting the market.

Geospatial Analytics Market: By Region

Europe, NA (North America), MEA (the Middle East & Africa), APAC (Asia Pacific), and CSA (Central & South America) are the branches of the market based on the geological outline. North America is seen as the leading region in the forecast period in terms of geospatial analytics. The presence of various companies related to the domain, progress in acceptance of advanced solutions & technologies, and plunging development of smart cities are some of the elements influencing the market.

Geospatial Analytics Market Share and Competitor Analysis

The key players in the global market are ESRI, Precisely, Oracle Corporation, Alteryx, Fugro N.V., Hexagon AB, RMSI Pty. Ltd., SAP SE, Trimble Navigation Ltd., Maxar Technologies, MapLarge, L3Harris Technologies, Bentley Systems, General Electric Company, Google LLC, TomTom N.V., Atkins, AAM Pty. Ltd., Critigen LLC, Orbital Insight, Autodesk Inc., Descartes Labs, ZillionInfo, Geospin, Mapidea, and various other companies.

Please note: This is not an exhaustive list of companies profiled in the report.

In May 2020, Syncsort LLP had been renamed as Precisely. In December 2019, Pitney Bowes' software and data business was acquired by the company and revealed later as Precisely.

Check the Press Release on Geospatial Analytics Market Report