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The geospatial analytics market size is estimated to grow by USD 127.2 billion at a CAGR of 18.68% between 2023 and 2028. Geospatial data analytics is gaining significant traction in various industries, with notable applications in the healthcare and insurance sectors. In healthcare, geospatial analytics enables the identification of disease hotspots, patient mobility patterns, and resource allocation, leading to improved patient care and population health management. The insurance industry leverages geospatial data to assess risk, determine premiums, and manage claims, enhancing operational efficiency and customer experience. Additionally, geospatial data analytics plays a pivotal role in disaster management by providing real-time situational awareness, enabling quick response and resource allocation, and facilitating post-disaster damage assessment and recovery efforts. The growing requirement for automatic data capture further emphasizes the importance of geospatial data analytics in addressing complex challenges across diverse sectors.
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The geospatial analytics market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market share growth by the global positioning system (GPS) will be significant during the forecast period. The market encompasses innovative applications of 3D mapping and 3D technology, driven by advancements in 5G and cloud computing. Key components include information creation, gathering, interpretation, mining, and visualization, adhering to information privacy rules.
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The GPS segment was valued at USD 29.90 billion in 2018. Amazon Web Services (AWS) and AWS IoT Core facilitate cloud-based GIS, providing competitive advantages and customer satisfaction. Big data processing and high-performance computing capabilities enable change detection, climate change monitoring, and infrastructure development projects. Geospatial analytics plays a crucial role in various industries, including agriculture, healthcare, defense site management, disaster management, and infrastructure development, offering information-driven decisions and real-time insights. Additionally, geospatial analytics is essential for enterprise information systems, environmental and life sciences industries monitoring, and infrastructure management, utilizing artificial intelligence, augmented reality, and distributed computing for efficient and accurate information processing and storage. These benefits are anticipated to propel the growth of the remote sensing technologies segment within the global geospatial analytics market in the forecast period.
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North America is estimated to contribute 36% to the growth of the global geospatial analytics market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America was the largest region of the market in 2023 and will continue to be the largest segment of the market during the forecast period.
The geospatial analytics market incorporates a range of technologies and applications, including Internet of Things (IoT) and IoT devices, land cover classification, licensing fees, location intelligence, and location-based information. This market also involves location-tracking solutions, logistics, machine learning (ML), metadata, military applications, and natural resource management. Additionally, it encompasses natural resources, networking infrastructure, on-demand scalability, product development, public health, public safety, remote sensing, resource optimization, satellite imagery, scalable processing, smart city development, smart city planning, social media platforms, software solutions, software updates, spatial data, spatial modeling, spatial understanding, storage capacity, sustainable development, transportation, vegetation health assessment, visualization, virtual reality (VR), water flow, and more.
The market's growth is driven by the use of ML algorithms, IoT devices, and satellite imagery for spatial information analysis. This analysis provides valuable insights for various sectors such as public health, public safety, military, logistics, and smart city planning. Factors like IoT devices' increasing adoption, advancements in ML algorithms, and the growing demand for real-time location-based information are expected to boost the market's growth during the forecast period. Furthermore, the integration of VR technology in geospatial analytics is expected to revolutionize the industry by providing immersive visualizations of spatial data. Overall, the geospatial analytics market is poised for significant growth due to these factors and the increasing demand for accurate and timely spatial information.
The geospatial analytics market is experiencing substantial growth due to the increasing adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML) in various industries. Medium scale enterprises (MSEs) are also adopting geospatial analytics for applications like disaster risk reduction and supply chain pptimization. Major players are leveraging AI and ML to provide accurate and real-time geospatial insights. Big data analysis plays a crucial role in the geospatial analytics market, with IoT sensors generating vast amounts of geospatial data. Web-based GIS platforms, built using technologies like JavaScript and HTML5, enable easy access to geospatial data from anywhere, at any time. The integration of 5G technology is expected to further boost market growth by enabling faster data transfer and real-time analytics.
The market is poised for strong growth, offering numerous opportunities for businesses and organizations in various sectors. AI and ML algorithms are used to analyze vast amounts of geospatial data and extract valuable insights. These insights can be used to optimize supply chain logistics, improve disaster response times, and enhance infrastructure planning and management. The use of geospatial analytics is also extending to new applications such as predictive maintenance and environmental monitoring. The market is expected to reach new heights with the increasing adoption of these technologies and the integration of emerging technologies like 5G.
The increasing adoption of geospatial data analytics in healthcare and insurance sectors is notably driving geospatial analytics market growth. The market encompasses innovative applications of 3D mapping and 3D technology in various industries, including agriculture and healthcare. With the advent of 5G and cloud computing, geospatial industry solutions have gained significant traction. Amazon Web Services (AWS) and AWS IoT Core facilitate information gathering, information processing, and data storage for these advanced systems. Geospatial analytics leverages artificial intelligence, big data, and change detection to provide valuable insights from the earth's surface data.
This information is essential for infrastructure development projects, defense site management, disaster management, and climate change monitoring. High-performance computing capabilities enable data interpretation, data mining, and data visualization for data-driven decisions. Moreover, geospatial analytics plays a crucial role in healthcare, enabling personalized care by exploring a person's location information and exposure to reported chemicals. In agriculture, it aids in optimizing crop yields and resource management. Data privacy rules ensure secure information processing and data storage. Geospatial analytics also offers a competitive advantage in enterprise information systems, enabling decision-making through image preprocessing and data visualization tools. Additionally, it supports environmental monitoring and drainage systems management. Overall, geospatial analytics is a game-changer in various sectors, offering customer satisfaction through innovative applications. Hence, these factors will boost market growth during the forecast period.
The emergence of smart cities is an emerging trend shaping geospatial analytics market growth. The market is experiencing significant advancements, driven by the integration of cutting-edge technologies such as 3D mapping and 3D technology, 5G, artificial intelligence (AI), and augmented reality (AR). Real-time data collection, facilitated by GPS/GIS and mobile capabilities, is revolutionizing the industry, enabling highly detailed, specific, and updated features. Cloud computing, through platforms like AWS, is essential for data storage, processing, and interpretation, providing a competitive advantage and enhancing customer satisfaction. Innovative applications include agriculture, infrastructure development projects, disaster management, defense site management, healthcare, and climate change monitoring.
Big data, change detection, image preprocessing, and data mining are crucial components of geospatial analytics, ensuring information-driven decisions and effective decision-making. Compliance with information privacy rules is essential, while high-performance computing capabilities and distributed computing optimize information processing and visualization. Earth's surface monitoring, infrastructure development, and environmental monitoring are key areas of focus, with applications in various industries, including agriculture, healthcare, and defense. Geospatial analytics plays a pivotal role in ensuring efficient infrastructure development projects, such as drainage systems, and in disaster management, providing real-time information for effective response and recovery efforts. Thus, the rising development of smart cities will propel the growth of the global market during the forecast period.
Data privacy and security concerns are major challenges impeding geospatial analytics market growth. In the geospatial industry, data privacy and security are paramount as organizations navigate the interconnected physical and virtual worlds through 3D mapping and 5G technology. With the rise of IoT, big data creation and gathering have increased, necessitating a secure, cloud-based environment for information processing and storage using platforms like Amazon Web Services and AWS IoT Core. Geospatial analytics offers decision-making advantages through AI, image preprocessing, and information interpretation for various sectors, including agriculture, healthcare, and infrastructure development projects.
Change detection and Climate Change monitoring are innovative applications that provide customer satisfaction and competitive advantage. Geospatial analytics also plays a crucial role in defense site management, disaster management, and environmental monitoring, requiring high-performance computing capabilities and data visualization for information-driven decisions. Distributed computing and drainage systems are other areas benefiting from geospatial analytics, ensuring data privacy rules are adhered to throughout the data mining and data visualization process. Thus, these factors will adversely affect the growth of the global market during the forecast period.
The geospatial analytics market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the geospatial analytics market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CartoDB Inc. - The company offers GIS, web mapping, and spatial data science tools for data analysis and visualization.
The geospatial analytics market forecast report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The geospatial analytics market is experiencing robust growth as a result of the expanding implementation of innovative technologies, such as artificial intelligence (AI) and machine learning (ML), in numerous industries. Medium-sized enterprises (SMEs) are also adopting geospatial analytics for applications including disaster risk reduction and supply chain optimization. A key facet of geospatial analytics is big data analysis, which facilitates the handling of massive volumes of data from Internet of Things (IoT) sensors and 5G networks. Geospatial analytics is proving beneficial in sectors such as defense and internal security, retail and logistics, energy and utilities, agriculture, healthcare and life sciences, infrastructure, and others. Institutions like Yale University are developing 4-dimensional geographic information system (GIS) software to provide more comprehensive analysis of spatial data. Web-based GIS platforms, such as Esri's ArcGIS Online, Google Maps Platform, and Mapbox, are gaining traction due to their user-friendliness and accessibility. Nevertheless, challenges, including the absence of standardization and the requirement for a skilled labor force, are impeding market expansion.
AI and ML are being incorporated into geospatial analytics to amplify its functionalities, with JavaScript and WebGL being popular programming languages utilized in this domain. Disaster response initiatives are utilizing geospatial analytics for efficient disaster management. Regulations, such as GDPR and SPDI, are also influencing the market landscape. Geospatial analytics is a burgeoning field that combines advanced technologies like AI, ML, and big data analysis to derive valuable insights from geographically referenced information. This data-driven approach is gaining popularity in various industries, including defense and internal security, retail and logistics, energy and utilities, agriculture, healthcare and life sciences, infrastructure, and more. Medium-sized enterprises (SMEs) are increasingly embracing geospatial analytics for applications such as disaster risk reduction and supply chain optimization. A significant component of geospatial analytics is big data analysis, which enables the processing of vast amounts of data from IoT sensors and 5G networks.
Institutions are developing 4-dimensional GIS software to analyze spatial data more comprehensively. Geospatial analytics is finding applications in numerous sectors, including defense and internal security, retail and logistics, energy and utilities, agriculture, healthcare and life sciences, infrastructure, and others. Web-based GIS platforms are gaining popularity due to their ease of use and accessibility. However, challenges, including the absence of standardization and the requirement for a skilled labor force, are impeding market expansion. To address these challenges, AI and ML are being integrated into geospatial analytics to enhance its capabilities. JavaScript and WebGL are popular programming languages used in this field. Disaster response programs are leveraging geospatial analytics for effective disaster management. Regulations, such as GDPR and SPDI, are also impacting the market landscape. Despite these challenges, the future of geospatial analytics looks promising, with continued advancements in technology and increasing adoption across industries.
Industry Scope |
|
Report Coverage |
Details |
Page number |
196 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.68% |
Market growth 2024-2028 |
USD 127.2 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
15.97 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Canada, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alphabet Inc., Alteryx Inc., Autodesk Inc., Bentley Systems Inc., CartoDB Inc., Development Seed, Esri Global Inc., Fugro NV, General Electric Co., Geomap Co., Hexagon AB, International Business Machines Corp., L3Harris Technologies Inc., Maxar Technologies Inc., Pitney Bowes Inc., QlikTech international AB, SAP SE, TomTom NV, Topcon Positioning Systems Inc., and Trimble Inc. |
Market dynamics |
Parent market analysis, market growth and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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