Geospatial Analytics Market Size USD 158.84 Billion By 2027 at CAGR 14.2% - Valuates Reports

BANGALORE, India, Dec. 2, 2020 /PRNewswire/ -- The Geospatial Analytics Market is segmented by Component (Solution and Service) Deployment Model (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium Enterprises), Solution (Geocoding & Reverse Geocoding, Data Integration & ETL, Reporting & Visualization, Thematic Mapping & Spatial Analysis, and Others), Type (Surface & Field Analytics, Network & Location Analytics, Geovisualization, and Others), Technology (Remote Sensing, GIS, GPS, and Others), Industry Vertical (Automotive, Energy & Utilities, Government, Defense & Intelligence, Smart Cities, Insurance, Natural Resources, and Others). It also covers Global Opportunity Analysis and Industry Forecast to 2027. This report is published on Valuates Reports in the Software Utilities Category.

The global geospatial analytics market size was valued at USD 58.35 billion in 2019 and is projected to reach USD 158.84 billion by 2027, growing at a CAGR of 14.2% from 2020 to 2027. 

Major factors driving the growth of geospatial analytics market size are, increasing number of AI and ML-based GIS solutions, the emergence of smart cities and urbanization, increased deployment of IoT sensors across locations, and advancement in big data analytics for organizations by improving the workflow. 

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COVID-19 IMPACT ON THE GEOSPATIAL ANALYTICS MARKET

The COVID-19 pandemic has increased the geospatial analytics market size and is expected to exhibit a twofold increase during the forecast period. Also, according to a study conducted at the Institute for Disease Modeling in Seattle, high-quality geospatial data enables models to resolve the pandemic by providing effective information on risk factors, setting particular disease transmission characteristics, and predicting pathogen and viral prevalence.

Various government bodies are implementing geospatial analytics to achieve a real-time scenario in terms of monitoring coronavirus spread and the accurate and continuous up-dating of infected patients, thereby driving the market growth.

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TRENDS INFLUENCING THE GEOSPATIAL ANALYTICS MARKET SIZE

The use of satellite monitoring to control the spread of COVID-19 is expected to drive the growth of the geospatial analytics market size. The demand for remote temperature sensors, such as infrared cameras, is increasing at a rapid pace throughout the pandemic. Remote sensing software enables epidemiologists to map disease distribution through various parameters such as demographics, geography, climate, etc. This increase in the adoption of remote sensing software for such applications leads to the growth of geospatial analytics.

Furthermore, the growth of the global geospatial analytics market size is driven by an increase in demand for AI-based GIS solutions and an increase in demand for geospatial analytics in the production of smart cities and urban planning.

Geospatial analysis refers to various computational methods, such as statistical analysis, for the analysis of geographical and spatial data. It also uses software solutions capable of processing spatial data and mapping and applying analytical methods to geographic or terrestrial datasets with the aid of GIS and geomatics. Various AI and Big Data advances have allowed geospatial analytics solutions and services providers to provide on-demand analysis of large and complex datasets. These developments have also made it possible to combine information systems into a hybrid cloud computing environment. These advantages are expected to further fuel the geospatial analytics market size.

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GEOSPATIAL ANALYTICS MARKET SHARE ANALYSIS

North America held the largest geospatial analytics market share in 2019 and is expected to continue its dominance during the forecast period. This dominance of North America is attributed to the presence of major players that offer advanced solutions. In addition, the presence of remote sensing satellites, the availability of high-speed internet and communication network infrastructure, and the widespread adoption of UAV technology to capture geospatial data are expected to further contribute to the growth of the geospatial analytics market size in the region.

Asia-Pacific is expected to witness the highest growth during the forecast period due to an increase in mobility penetration, change from 2D to 3D mapping, and an increase in the adoption of GIS technologies in China, South Korea and Japan.

KEY SEGMENTATIONS

By Component

• Solution
• Service

By Deployment Model

• On-premise
• Cloud

By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

By Solution

• Geocoding & Reverse Geocoding
• Data Integration & ETL
• Reporting & Visualization
• Thematic Mapping & Spatial Analysis
• Others

By Type

• Surface & Field Analytics
• Network & Location Analytics
• Geovisualization
• Others

By Technology

• Remote Sensing
• GIS
• GPS
• Others

By Industry Vertical

• Automotive
• Energy & Utilities
• Government
• Defense & Intelligence
• Smart Cities
• Insurance
• Natural Resources
• Others

By Region

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Russia
• Netherlands
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Market Players

• Alteryx, Inc.
• Bentley Systems Incorporated
• ESRI
• Furgo NV
• General Electric
• Hexagon AB
• Google, Inc.
• MDA Corporation
• Oracle Corporation
• SAP SE
• Trimble, Inc.
• TOMTOM International, Inc.

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SIMILAR REPORTS 

• The global Geospatial Imagery Analytics market size is projected to reach USD 18700 million by 2026, from USD 4857.2 million in 2020, at a CAGR of 25.2% during 2021-2026. Advancements in the field of geospatial imagery analytics resulting from the integration of artificial intelligence and Big Data are expected to drive the Geospatial Imagery Analytics Market size. The geospatial imagery analytics market in the Asia Pacific region is expected to witness the highest CAGR during the forecast period.
• The global Geospatial Solutions market size is projected to reach USD 331710 million by 2026, from USD 215120 million in 2020, at a CAGR of 7.5% during 2021-2026. Major factors driving Geospatial Solutions Market size are the incorporation of new and upcoming technologies like 3D, Augmented Reality (AR), and Virtual Reality (VR) in GIS systems. Furthermore, the Artificial Intelligence (AI), automation, cloud, Internet of Things (IoT), and miniaturization of sensors are expected to fuel the growth of the Geospatial Solutions Market size.
• Aerial Imaging Market size is expected to garner USD 2,836.2 million by 2022, registering a CAGR of 12.9% during the forecast period 2016-2022. Top companies in the Aerial Imaging Market are Blom ASA, Eagle View Technologies, Inc., Digital Aerial Solutions, LLC, Cooper Aerial Surveys Co., Landiscor Aerial Information, BLOMASA, Kucera International Inc., GeoVantage, Inc., Fugro EarthData, Inc, High Eye Aerial Imaging Inc., and Eagle Aerial Solutions.
• Global Geospatial Analytics Software Market Segment by Type - Surface & Field Analytic, Network & Location Analytics, Geo visualization, by Application - Business, Automotive, Utility & Communication, Government, Defense & Intelligence, Natural Resources, This report covers important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America & key players.
• Geo-spatial Imagery Analytics System Market Segment by Type - Imagery Analytics, Video Analytics, by Application - Defense and Security, Insurance, Agriculture, Healthcare and Life Sciences. This report covers important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America & key players.
• Geospatial Video Analytics Market Segment by Type - Geographic Information Systems (GIS), Satellites, Unmanned Aerial Vehicles (UAVs), Others, by Application - Environmental Monitoring, Mining & Manufacturing, Energy, Utility, and Natural Resources, Engineering & Construction, Insurance, Agriculture, Healthcare & Life Sciences, Others. This report covers important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America & key players.
• Global 3D Geospatial Technologies Market Segment by Type - Hardware, Software, Service, by Application - Business, Transportation, Defence and Intelligence, Infrastructural Development, Natural Resource, Others. This report covers important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America & key players.

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