Geospatial Analytics Market

SKU: DM2607 | Last Updated On: Nov 28 2022 | Available Formats

>Geospatial Analytics Market is Expected to reach a high CAGR of 12.8% By 2029:

Geospatial Analytics Market is segmented By Type (Surface and Field Analytics, Geovisualization, Network Analysis, Artificial Neural Networks (ANN), Others), By Technology (Remote Sensing, GPS, GIS, Others), By Solutions (Geocoding and Reverse Geocoding, Reporting and Visualization, Thematic Mapping, and Spatial Analysis, Data Integration, and ETL, Others), By Application (Surveying, Disaster Risk Reduction, and Management, Medicine and Public Safety, Climate Change Adaptation, Predictive Asset Management, Others), By End-User (Agriculture, Defense, and Intelligence, Utility and Communication, Automotive, Government, Travel and Logistics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Geospatial analytics market size is projected to reach USD XX billion by 2029, with a CAGR of 12.8% over the forecast period 2022-2029.

Geospatial analytics market - Strategic Insights

Metrics

Details

Market CAGR

 12.8%

Segments Covered

By Type, By Technology, By Solutions, By Application, By End-User and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Geospatial analytics is computational analytics that leverages geographic information, location data, spatial data and increasingly computer vision, high-resolution imagery and distinct forms of AI to obtain structured data for particular applications industries. Geospatial analytics utilizes data from all kinds of technology, including GPS, location sensors, social media, mobile devices and satellite imagery — to build data visualizations for recognizing phenomena and observing trends in complex relationships between places and people. Governments heavily rely on the geospatial data for everything from handling traffic patterns, tracking extreme weather events and estimating population growth and its influence on energy, transportation and housing requirements as part of urban planning.

Regional Classification:

According to the DataM Intelligence market research report, the global Geospatial analytics market is divided into North America, South America, Europe, Asia-Pacific, Middle East and Africa. In North America, geospatial analytics technologies are extensively used in agriculture, construction, transportation and utilities. The adoption of mobile GIS technologies for real-time information and location-based services is expected to increase in the coming years, positively impacting the North American geospatial analytics market.

In Europe, geospatial technologies are revolutionizing the economy. From tracking supply chains to navigating public transport and planning efficient delivery routes, the digital services built on GPS and current mapping data such as socioeconomic data have become part of daily life and commerce. For instance, semi-automated geospatial solutions based on earth observation, urban sensing and mobile contact tracing coupled with artificial intelligence and machine learning are spreading fast in the region. The expanding adoption of geospatial analytics in various industries will drive the growth of the European geospatial analytics market.

Asia-Pacific has become a hub of innovation, transforming living, working and relating to one another. Digital innovations such as artificial intelligence and the Internet of things (IoT) bring new and innovative solutions to pressing global problems. Countries in the Asia-Pacific are integrating space technology such as Earth observation (EO) and geospatial data and combining their results with statistical and demographic data for real-time spatial analysis of conditions and modeling complex and dynamic scenarios. The adoption of geospatial analytics by major countries such as China, Japan and India will be the major factor in driving the growth of the Asia-Pacific geospatial analytics market.

Market Growth Dynamics:

Growing applications in smart cities is a major driver for the global geospatial analytics market:

Smart cities adopt technologies in various ways to improve the efficiency of numerous operations. However, all smart cities rely on geospatial technology for smart tools. Modern smart cities adopt IoT sensors and sensor nodes, mobile applications, smart devices and social networks that create location-based data to develop the efficiency of traffic, energy, public safety, security, infrastructure, emergency response and others. The foundation of the network is geospatial technology that presents a framework for data collection, decision-making, language for analysis, decision implementation method and a method for interaction with the public in smart cities.

Privacy problems with collected data are expected to restrain the global geospatial analytics market:

Creating and analyzing geospatial data are now necessary for most domains, governments and businesses. However, the problems associated with collecting location data can lead to major problems. There can be numerous key potential risks of utilizing geospatial technology for evidence generation, including security, privacy and surveillance concerns relating to the potential to observe private property, obtain sensitive personal information and possibly put persons in harm's way.  

The introduction of 5G networks is expected to generate new opportunities for the global geospatial analytics market:

Geospatial and 5G are interconnected for offering precise location information that helps governments create better cities, concentrate public services and engage with citizens. As the world adopts smarted cities, much of this location data has to be real-time. The introduction of 5G networks is expected to significantly boost the accuracy and sensitivity of geospatial analytics.

The difficulty in standardizing and integrating collected data is expected to present challenges for the global market:

A large amount of data is collected from various sources for geospatial analytics. It requires much effort to clean, separate and standardize the collected data. The difficulty in standardizing and integrating the collected data will be a major challenge for the growth of the global geospatial analytics s market.   

COVID-19 Impact Analysis

The global geospatial analytics market was affected by the COVID-19 pandemic. Global supply chains have been interrupted due to the pandemic, leading to delays in deploying geospatial analytics system hardware. Governments and organizations worldwide are adopting geospatial data and digital mapping tools to manage vaccination campaigns. Amid the extremely irregular rollout of Covid-19 vaccines, various health officials and organizations are drawing upon geospatial data to design their vaccination campaigns and trace their progress in fine-grained detail. The pandemic is not expected to impact the long-term growth of the global geospatial analytics market and

Recent Developments in the Industry:

  1. In July 2022, Esri, a leading GIS developer, unveiled GeoAnalytics Engine, a new GIS software integrated with AI and advanced analytical tools.
  2. In August 2022, the Indonesian government set up a GIS system to assist with the developmental works of the new capital city project.
  3. In Feb 2020, Hexagon’s Manufacturing Intelligence division announced the launch of Captura, an entry-level optical coordinate measuring machine (CMM) that offers an intuitive and cost-effective solution for multisensor measurement of small to medium parts.
  4. In 2021, Hexagon acquired CADLM, a company that specializes in engineering, simulation, optimization and industrial reliability analysis.

Market Segmentation:

The scope of the report covers segmentation based on type, technology, solutions, application and region. The global geospatial analytics market is segmented by type into surface and field analytics, geovisualization, network analysis, artificial neural networks and others. The global geospatial analytics market is segmented by technology into remote sensing, GPS, GIS and others. The global geospatial analytics market is segmented by solutions into geocoding and reverse geocoding, reporting and visualization, thematic mapping and spatial analysis, data integration and others. The global geospatial analytics market is segmented by application into surveying, disaster risk management, medicine and public safety, climate change adaptation, predictive asset management and others. The global geospatial analytics market is segmented by region into North America, South America, Europe, Asia-Pacific, Middle East and Africa.

  1. Surface and Field Analytics: Surface analysis is utilized to discover terrain attributes such as elevation at any point, slope and aspect. Terrain features like channel networks and drainage basins can also be distinguished from the maps. The maps are also helpful for hydrologic and geologic analyses, agricultural management, hazard monitoring, and exploration of natural resources.
  2. Geovisualization: Geovisualization utilizes geospatial visualization tools and techniques for interpreting geospatial data. Geospatial data visualization is a useful practice that blends interactive visualization into traditional maps, providing the ability to examine different layers of a map, modify the visual appearance of the map and compare various factors to the geographic area.
  3. Network Analysis: Network analysis is a collection of connected lines. The lines denote railways, roads, streams, telecommunication lines, water lines, pipelines etc., that usually need to be analyzed as a network. Network analyses the change in the movement of people, accessibility & connectivity of road and telecommunications. The network is mapped and compared by planning graphs and linkages of features and objects. The network depends on topological properties, i.e., adjacency, connectivity and incidence.
  4. Artificial Neural Networks (ANN): Artificial neural networks (ANN) are computational models extensively used in geospatial analysis for changing detection, data classification, clustering, function approximation and prediction. Several types of neural networks based upon network architectures and learning paradigms exist and their application is anticipated to grow with the growing availability of extensive data from remote sensing and other platforms. Artificial neural networks present a mechanism for studying data and mapping data.
  5. Others: The other segments include various other types, including geocomputation, geosimulation, map generalization, map abstraction, digital terrain analysis and others which are majorly used in the geospatial analytics market.

Competitive Analysis:

The global geospatial analytics market is consolidated, with major international players having a large market share. The major players are adopting various strategies to dominate the market, such as launching new technologies, acquisitions, and collaborations responsible for global growth.

Major Companies:

Some key companies contributing to the global Geospatial analytics market growth include Microsoft, Google, General Electric, SAP SE, Salesforce, Precisely, Oracle Corporation, RMSI, OmniSci, Inc., Maxar Technologies Inc., WS Atkins Limited, Hexagon AB, TomTom and Trimble Inc., among others.

Frequently Asked Questions

What is the Projected CAGR value of the Geospatial analytics market?

Geospatial analytics market is expected to grow at a CAGR of 12.8% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Geospatial analytics market during 2022-2029

Which is the fastest growing region in the Geospatial analytics market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

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