The Global Geospatial Analytics Market accounted for USD 32.2 billion in 2016 growing at a CAGR of 20.3% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.”
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Geospatial analysis is the collection of data through satellite, global positioning system (GPS), remote sensing, described in the form of geographic coordinates, or in the form of postal code, street address, as they are applied in the geographic models. Geospatial analytics products combine geographic data and business data to gain information that supports business decisions such as logistics and marketing.
It is widely applicable in business, automotive, utility & communication, government, defense & intelligence, natural resource, and others. Geospatial analytics with artificial intelligence may act as the major driver in the growth of geospatial analytics market.
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On the other side, legal issues, safety and high cost may hamper the market.
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Global Geospatial Analytics Market, By Geography; Type (Surface Analytics, Network Analytics, Geovisualization); Technology (Remote Sensing, GPS, GIS); Application (Surveying, Medicine & Public Safety, Disaster Risk Reduction & Management, Climate Change Adaptation); Vertical – Industry Trends and Forecast to 2024
Company Share Analysis:
The report for geospatial analytics market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others.
The report also measures technology life line curve and market time line to analyze and do more affective investments.
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The global geospatial analytics market is segmented on the basis of type into surface analytics, network analytics, geovisualization, and others.
On the basis of technology, the global geospatial analytics market is segmented into remote sensing, global positioning system (GPS), geographic information system (GIS), and others.
On the basis of application, the global geospatial analytics market is segmented into surveying, medicine & public safety, disaster risk reduction & management, climate change adaptation, and others.
On the basis of vertical, the global geospatial analytics market is segmented into business, automotive, utility & communication, government, defense & intelligence, natural resource, and others.
On the basis of geography, the global geospatial analytics market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
Market Drivers & Restraints:
- Availability convergence and integration of geospatial technology with mainstream technologies
- Geospatial analytics with artificial intelligence
- Commoditization of geospatial information
- Need of security and safety
- Legal issues and regulations
- High cost
Trimble Inc., HEXAGON, Harris Corporation, Digital Globe, BENTLEY SYSTEMS, INCORPORATED, ESRI, General Electric, MacDonald, Dettwiler and Associates Ltd., Fugro, RMSI, TOPCON CORPORATION, Garmin Ltd, and others.
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