According to a new report published by Allied Market Research, titled, โGeospatial Solutions Market,” The geospatial solutions market was valued at $432.00 billion in 2021, and is estimated to reach $1,457.7 billion by 2031, growing at a CAGR of 13.1% from 2022 to 2031.
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Cloud-based geospatial solutions are gaining traction at the moment. Cloud-based geospatial solutions deliver on-demand geospatial data, images, and maps. It also enables companies to share data and perform operations such as viewing, monitoring and analyzing geospatial data. Moreover, few companies are also launching cloud-based geospatial solutions, which fuels growth of the geospatial solutions market. For instance, in April 2019, HERE launched Here XYZ for mapmaking and geospatial data management for developers and non-coders. It also launched a new cloud service for fast and flexible management of location data.
North America is expected to dominate the globalย geospatial solutions marketย in 2021.ย Rise in investments in the defense sector and technological advancements in the telecommunication industry acts as key driving forces for the geospatial analytics market in North America. In addition, implementation of LBS-enabled drones for border security and monitoring high-risk situation by federal agencies, government, and nongovernment organizations is expected to boost the market investment for these services. Advanced sensors onboard satellites provide reliable, cost-effective, and impartial information about variety of vegetation and hydrological parameters at various spatial resolutions.
Covid-19 scenario:
- The COVID-19 pandemic favorably impacted the growth of the global geospatial solutions market with geospatial techniques such as geographic information system and mapping massively used for detecting disease pattern.
- During the COVID-19 pandemic, geospatial services were utilized for determining real-time updates on confirmed and active cases of government and healthcare workers, thereby driving the global market trends.
๐๐ป๐๐ฒ๐ฟ๐ฒ๐๐๐ฒ๐ฑ ๐๐ผ ๐ฃ๐ฟ๐ผ๐ฐ๐๐ฟ๐ฒ ๐๐ต๐ฒ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐? ๐๐ป๐พ๐๐ถ๐ฟ๐ฒ ๐๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐๐๐๐ถ๐ป๐ด – https://www.alliedmarketresearch.com/purchase-enquiry/9642
Major market players
- Apple Inc.
- Bentley Systems, Inc.
- General Electric
- GIS Cloud Ltd.
- Google Inc.
- L3Harris Geospatial Solutions, Inc.
- Oracle Corporation
- Living Map
- Mappedin
- Microsoft Corporation
- Pix4D S.A.
- SAP SE
- Telenav Inc.
- TomTom International BV
- Uber Technologies, Inc.
Cloud-based geospatial solutions are gaining traction at the moment. Cloud-based geospatial solutions deliver on-demand geospatial data, images, and maps. It also enables companies to share data and perform operations such as viewing, monitoring and analyzing geospatial data. Moreover, few companies are also launching cloud-based geospatial solutions, which fuels growth of the geospatial solutions market. For instance, in April 2019, HERE launched Here XYZ for mapmaking and geospatial data management for developers and non-coders. It also launched a new cloud service for fast and flexible management of location data.
Growth of the global geospatial solutions market is attributed to increase in penetration of artificial intelligence based geographic information system (GIS), and increase in use of location-based services integrated with geographic information system. However, lack of awareness regarding benefits of geospatial solutions is the factor that hampers growth of the market. Furthermore, development of 4D GIS software is the factor expected to offer growth opportunities during the forecast period.
KEY FINDINGS OF THE STUDY
- By solution type, the services segment is anticipated to exhibit significant growth in the near future.
- By technology, the scanning segment is anticipated to exhibit significant growth in the near future.
- By application, the geovisualization segment is anticipated to exhibit significant growth in the near future.
- By end-use, the infrastructural development segment is anticipated to exhibit significant growth in the near future.
- By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global geospatial solutions market include Apple Inc., Bentley Systems, Inc., General Electric, GIS Cloud Ltd., Google Inc., L3Harris Geospatial Solutions, Inc., Oracle Corporation, Living Map, Mappedin, Microsoft Corporation, Pix4D S.A., SAP SE, Telenav Inc., TomTom International BV, and Uber Technologies, Inc.
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