According to the report, the geospatial analytics market was valued at $85.5 billion in 2023 and is estimated to reach $220.2 billion by 2033, growing at a CAGR of 9.6% from 2024 to 2033.
The key factors driving the growth of the global geospatial analytics market include surge in demand for AI-based GIS solutions and increase in demand for geospatial analytics in smart cities’ development and urban planning. In addition, integration of GIS with mainstream technologies for business intelligence positively impacts the growth of the market. However, high cost of geospatial analytics, regulatory issues, and lack of comprehensive government policies regarding geospatial analytics are expected to hamper the market growth.
Segment Review:
By region, North America held the highest market share in terms of revenue in 2023, accounting for three-fourths of the global geospatial analytics market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. owing to rise in penetration of mobility; transition from 2D to 3D-based mapping; and surge in the adoption of GIS technologies in the U.S. and Canada.
By component, the solution segment held the highest market share in 2023, accounting for more than half of the global geospatial Analytics market revenue and is expected to retain its dominance throughout the forecast period, owing to rise in the need for geographic imaging among professionals to process massive volume of geospatial data every single day boosts the adoption of geospatial solutions, which are designed for various purposes and add-on applications to solve remote sensing-related issues.
Request Sample Pages: https://www.alliedmarketresearch.com/request-sample/4306
By industry vertical, the environmental monitoring segment held the highest market share in 2023, accounting for nearly one-third of the global geospatial analytics industry revenue and is expected to retain its dominance throughout the forecast period. This can be attributed to rise in emphasis on combating climate change and promoting sustainability that has driven the demand for geospatial analytics in environmental monitoring.
By deployment mode, the on-premise segment held the highest market share in 2023, accounting for nearly one-third of the global geospatial analytics market revenue and is projected to retain its dominance throughout the forecast period. This can be attributed to increase in data security and privacy concerns.
By type, the network & location analytics segment held the highest market share in 2023, accounting for nearly one-third of the global geospatial analytics market revenue and is expected to retain its dominance throughout the forecast period. This can be attributed to the proliferation of mobile devices and the growth in use of location-based services for navigation, social networking, and marketing have significantly boosted the demand for network and location analytics.
By enterprise size, the large enterprise segment held the highest market share in 2023, accounting for nearly one-third of the global geospatial analytics market revenue and is expected to retain its dominance throughout the forecast period, due to their extensive resources, complex needs, and ability to integrate advanced solutions.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/4306
Key Market Players
The key players profiled in the geospatial analytics industry include Alteryx, Inc., Bentley Systems, Incorporated, ESRI, Furgo NV, General Electric, Hexagon AB, Google, Inc. Other players in geospatial analytics market includes MDA Corporation, Oracle Corporation, SAP SE, Trimble, Inc., and TOMTOM International, Inc.
Recent Industry Updates
On September 6, 2024, Bentley Systems, a leading software development company, acquired 3D geospatial company, Cesium to enhance its iTwin Platform for digital twins in infrastructure. Cesium’s widely adopted 3D Tiles standard and SaaS platform, used by over 1 million devices monthly, will improve 3D data integration across engineering, IoT, and enterprise applications, enabling highly detailed digital twin experiences.
In May 2023, Google introduced Google Geospatial Creator, a tool for building immersive and highly accurate AR experiences. Powered by Photorealistic 3D Tiles and ARCore from Google Maps Platform, it integrates with Unity and Adobe Aero. Geospatial Creator offers a 3D world view, enabling users to seamlessly place digital content in real-world environments, similar to Google Earth and Google Street View.
Buy this Complete Report (199 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/geospatial-analytics-market/purchase-options
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
[email protected]
