The global Geospatial
Analytics Market is projected to grow from USD 67.4 billion in 2022 to USD
119.9 billion by 2027, at a CAGR of 12.2% during the forecast period according to report published by
MarketsandMarkets.
The key factors driving the growth of this
market include the rise of geospatial analytics technologies and the increasing
competition. GIS may be used to monitor facilities that are available and
organize interventions. The mapping of demographic data aids in the monitoring
of high-risk populations and vulnerable areas. The geospatial technology
anticipates and analyses organizational risk regions and monitors operational
capabilities to increase business continuity.
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Cloud
segment to account for higher CAGR during the forecast period
The Geospatial analytics market is bifurcated on the basis
of cloud and on-premises. The market size of the cloud deployment mode is
estimated to be larger and projected to have a higher CAGR during the forecast
period. A combination of spatial technologies with cloud computing offers an
alternative platform for data, making it affordable and scalable. The
deployment type comes with flexible subscription-based pricing models, and
access to the services is provided through cloud-deployed network connectivity.
A geospatial cloud providing GIS as SaaS offers many analytic and visualization
capabilities.
SMEs
segment to account for higher CAGR during the forecast period
The
SMEs segment is a faster-growing segment in the Geospatial analytics market
during the forecast period as the demand for geospatial analytics in
organizations is increasing. The deployment of geospatial analytics varies
according to the needs of different end users. The increasing volume of
location-based spatial data in SMEs is one of the major factors driving the
growth of the geospatial analytics market.
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APAC to
hold higher CAGR during the forecast period
APAC is showing a substantial rise in the adoption of
Geospatial analytics solutions and services during the forecast period. The
number of people living in cities has dramatically increased because of the
region’s rising economies, including those of Indonesia, China, and India. This
expansion has increased demand for smart cities, smart infrastructure, and
well-planned urban landscapes. Leading the development of 5g and IoT
infrastructures are China, South Korea, and India. These factors will lead the
APAC market to grow at the quickest CAGR over the next years.
Major Key Players:
Major
vendors in the global Geospatial analytics market Esri (US), Precisely (US),
Caliper Corporation (US), Blue Marble Geographic (US), Google (US), eSpatial
(Ireland), HexagonAB (Switzerland), TomTom (Netherlands), Trimble (US), Maxar
Technologies (US), RMSI (India), Maplarge (US), General Electric (US), Bentley
Systems (US), Fugro (Netherlands).
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