What is the global market size of Geospatial Analytics Market?

Global Geospatial Analytics Market size was valued at USD 68.5 billion in 2021 and is poised to grow from USD 79.8 billion in 2022 to USD 273.6 billion by 2030, growing at a CAGR of 16.63% in the forecast period (2023-2030).

Who are the key vendors in the Global Geospatial Analytics Market?

The global geospatial analytics market is relatively fragmented, with a high level of competition. Few large players, like Alteryx, Inc., Digital Globe, Fugro N.V., Hexagon AB, RMSI, SAP SE, Trimble Inc., Maxar Technologies Inc., Map Large, Harris Corporation, Bentley Systems Incorporated, ESRI, General Electric Company, Oracle Corporation, and Google LLC now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Esri', 'Trimble', 'Hexagon', 'Pitney Bowes', 'SAP SE', 'Bentley Systems', 'DigitalGlobe (Maxar Technologies)', 'General Electric', 'Oracle Corporation', 'Harris Corporation', 'RMSI', 'Fugro', 'TomTom International', 'Harris Geospatial Solutions', 'Autodesk', 'Google', 'IBM Corporation', 'Microsoft Corporation', 'Amazon Web Services', 'Alphabet Inc.'

What is the key driver of the Global Geospatial Analytics Market?

In order to give enterprises deeper insights, geospatial analytics solution providers like ESRI and SAP use AI and ML-based solutions. The development of drones and satellite imagery equipment has accelerated recently. These observations can be used to track the provision of municipal services and pinpoint areas where they can be enhanced. A profit pool for the focused marketing of items based on consumer interest is the accessibility of big data gathered from demographic data in marketing management. As a result, the geospatial analytics market is anticipated to increase as a result of technological advancements and its use across an increasing number of sectors.

What is the key market trend for the Global Geospatial Analytics Market?

The rollout of 5G network services is predicted to open up new prospects for geospatial analytics suppliers because 5G technology can be used to capture extremely accurate geographical data. The low-band, mid-band, and high-band spectrum would be the main three bands that the 5G network would operate on. Sub-1GHz spectrum is another name for the low-band spectrum. It quickly runs out of spectrum since it is mostly used by carriers. In comparison to a low band, the mid-band spectrum offers quicker coverage and lower latency. In contrast to a low-band spectrum, a mid-band spectrum is unable to enter structures. The term 'mmWave' is frequently used to describe a high-band spectrum. It features low latency and peak speeds of up to 10Gbps. Small cells are necessary for the implementation of 5G because they facilitate connections between users and 5G transceiver towers. Due to their massive antenna arrays and expansive bandwidths, 5G networks are anticipated to soon be able to provide device positioning. Particularly in Line of Sight (LOS) circumstances, these would have extremely accurate Direction-of-Arrival (DOA) and Time-of-Arrival (TOA) estimation. A crucial component of the development of the 5G infrastructure is geospatial data. The telecom sector's demand for geospatial analytics solutions is anticipated to increase as a result in the near future.

Which region accounted for the largest share in the Global Geospatial Analytics Market?

Construction, agriculture, transportation, and utilities all make extensive use of geospatial analytics technologies, such as GIS and GPS. In 2021, North America is anticipated to account for a sizable portion of the geospatial analytics market. The market is expanding due to the presence of technology businesses and their expanding use of AI and machine learning. North America holds the greatest share of the geospatial analytics market, thanks in part to the oil and gas industry, the growth of 5G infrastructure, the rising demand for connected vehicles, the presence of international players from the automotive industry, and the robust healthcare sector.

Geospatial Analytics Companies

Geospatial Analytics Market Competitive Landscape

Leading players of this market include but are not limited to Microsoft Corporation, Precisely Holdings, LLC, Alteryx, Inc., Hexagon AB, Trimble Inc., HERE Global B.V., Alphabet Inc. (Google LLC), Oracle Corporation, and Esri Global, Inc. Major companies are expanding their businesses by adopting various strategies such as mergers, acquisitions, product launches, collaboration, and partnership.

Top Players in the Global Geospatial Analytics Market

GOOGLE
TRIMBLE
ESRI
RMSI
MAPLARGE
FUGRO
MAPIDEA
ORBICA
CARTO
MAPBOX
HEXAGON AB
ALTERYX
TOMTOM
GEOSPIN
SPARKGEO

FAQs

Global Geospatial Analytics Market size was valued at USD 126.22 Billion in 2022 and is poised to grow from USD 142 Billion in 2023 to USD 364.34 Billion by 2031, growing at a CAGR of 12.5% in the forecast period (2024-2031).

Rapid advancements in IoT have brought enormous changes in everyday life, embedding technology in mundane objects and environments. Along with the interconnections of devices, IoT can develop different facets of an intelligent home, efficient pollution control systems, smart cities, and advanced solutions for energy-saving. IoT deployment with smart sensors and GPS trackers can generate highly extensible data, with high accuracy on several parameters such as temperature, humidity, noise, and position. It can also be integrated seamlessly with geospatial analytics to derive more profound insight into complex queries for better decision making and more efficient management of resources and environments.

North America was dominant in the geospatial market in 2021. This position is attributed to its considerable investment in data analytics and advanced technology infrastructure. The region is expanding due to the presence of well-established businesses. Due to many IT companies and academic institutions, innovation in leading geospatial technologies is going on with full vigor in the region. Dominance by North America is a factor of the extensive public and commercial sector programs in the region that make use of geospatial data for national security, environmental management, and urban planning. Its leadership is further cemented by the high adoption rates of geospatial solutions across multiple industries.

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Geospatial Analytics Market Size, Share, Growth Analysis, By Offering(Solution and Services), By Technology(Remote Sensing and Global Positioning Systems), By Vertical(BFSI and Energy & Utility), By Region - Industry Forecast 2024-2031

Geospatial Analytics Market Competitive Landscape

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Geospatial Analytics Market Size, Share, Growth Analysis, By Offering(Solution and Services), By Technology(Remote Sensing and Global Positioning Systems), By Vertical(BFSI and Energy & Utility), By Region - Industry Forecast 2024-2031

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Geospatial Analytics Market Report Snapshots

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FAQs

What is the global market size of Geospatial Analytics Market?

Who are the key vendors in the Geospatial Analytics Market?

What is the key driver of Geospatial Analytics Market?

What is the key market trend for Geospatial Analytics Market?

Which region accounted for the largest share in Geospatial Analytics Market?

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