Trusted Business Insights presents the Latest Study on Geospatial Analytics Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Geospatial Analytics Market
The global geospatial analytics market size was valued at USD 51,700.7 million in 2018, registering a CAGR of 15.0% from 2019 to 2025. Geospatial analytics refers to the collection and manipulation of data based on location. It uses multiple technological tools including Global Positioning Systems (GPS), Geographic Information Systems (GIS), georeferencing, metadata, and remote sensing to provide accurate modeling, trend analysis, and predictions. These analytics also filters out relevant and useful data from irrelevant data sets.
Increasing penetration and adoption of Internet of Things (IoT) across the globe coupled with the introduction of Artificial Intelligence (AI) and big data analysis are expected to result in significant growth of the market over the forecast period. In addition, various advancements in AI and big data have enabled providers of geospatial analytics solutions and services to offer on-demand analytics of large and complex datasets. These advancements have also enabled the integration of information systems with hybrid cloud computing environment.
Geospatial analysis applies various analytical techniques such as statistical analysis to analyze geographical and spatial data. It also uses software solutions that are capable of processing spatial data and rendering maps as well as applying analytical methods to geographic or terrestrial datasets with the help of GIS and geomatics. In addition, geospatial information systems can be easily integrated into an organizations existing enterprise information systems. These advantages are the major driving factors for the geospatial analytics market growth.
However, some of the key restraining factors hampering the market growth include high acquisition costs and operational concerns such as lack of skilled human resource, limited presence of open standards and interoperability mechanisms, and integration issues between GIS and Environmental Resources Management (ERM) systems. Although the overall cost of geospatial analytics solutions has drastically declined over the last decade, owing to the increased availability of open source tools and plunging hardware costs, it still remains a major cause of concern for Small and Medium Scale Enterprises (SMEs).
Geospatial analytics was initially developed with an aim to tackle challenges faced by the environmental and life sciences industries, majorly focusing on ecology, epidemiology, and geology. However, the technology is now being widely adopted to cater to many different industries including government and defense, utilities, public safety, healthcare, and natural resources. It also finds major applications in Climate Change Adaptation (CCA) and Disaster Risk Reduction and Management (DRRM).
Market Segmentation, Outlook & Viewpoint: Global Geospatial Analytics Market
Component Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Type Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Surface & Field Analytics
Network & Location Analytics
Application Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Medicine & Public Safety
Disaster Risk Reduction & Management
Climate Change Adaptation (CCA)
Key Players, Recent Developments & Regional Insights: Global Geospatial Analytics Market
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Based on application, the market has been classified into surveying, medicine & public safety, military intelligence, disaster risk reduction & management, marketing management, Climate Change Adaptation (CCA), urban planning, and others. The surveying segment dominated the market in 2018 owing to its wide-scale adoption in agriculture and natural resource monitoring. However, the military intelligence segment is expected to emerge as the fastest-growing segment over the forecast period. This may be attributed to the increasing number of remote sensing satellites globally for border patrolling, which demands the use for geospatial analytics.
Remote sensing is majorly used for land surveying and in most of the earth science disciplines including hydrology, ecology, meteorology, oceanography, glaciology, and geology. Apart from the commercial, economic, planning, and humanitarian applications, remote sensing is also used for military intelligence purposes by countries with the most powerful military capabilities, such as the U.S., North Atlantic Treaty Organization (NATO), Russia, Japan, Israel, China, and India. Moreover, organizations such as National Emergency Management Agency (NEMA) use geospatial analytics for improving disaster response and preparedness as the technology helps in devising effective disaster management strategies through proper disaster visualization, deployment of rescue teams, and planning of post-disaster activities such as reconstruction and rehabilitation.
North America dominated the market in 2018 owing to the wide presence of key industry players offering geospatial analytics software and solutions in the region. Major players operating in the region include DigitalGlobe (U.S.), Alteryx, Inc. (U.S.), Harris Corporation (U.S.), Trimble Navigation Ltd. (U.S.), Pitney Bowes (U.S.), ESRI (U.S.), and Google LLC (U.S.). The increased adoption of emerging technologies such as big data analysis, cloud computing, IoT, AI, and other business intelligence tools in the region is one of the major factors driving the growth of the market in North America. In addition, the high number of available remote sensing satellites, availability of high-speed internet and communication network infrastructure, and widespread adoption of UAV technology to capture geospatial data are expected to further contribute to the market growth.
Meanwhile, the Asia Pacific region is projected to emerge as the fastest-growing market owing to the growing demand in China, India, and Japan. The increase in demand in China is mainly attributed to its rapid industrialization and growth of the infrastructure and logistics sectors. These countries are extensively using analytics solutions for disaster control, environment monitoring, and forest management. Moreover, there has been a significant rise in the adoption of geospatial analytics by government and public safety agencies in the region.
Geospatial Analytics Market Share Insights
Key industry players operating in the market include Alteryx, Inc., DigitalGlobe, Fugro N.V., Hexagon AB, RMSI, SAP SE, Trimble Inc., Maxar Technologies Inc., MapLarge, Harris Corporation, Bentley Systems Incorporated, ESRI, General Electric Company, Oracle Corporation, and Google LLC. Numerous companies are focusing on various growth strategies such as new product launches, product enhancements, agreements, partnerships, and collaborations. For instance, in August 2016, IBM Watson formed a partnership with MAPBOX to offer analysis services to business users. These services enabled users to gain insights into the patterns of their location-related business data for improving marketing strategies and operations. The partnership also enabled IBM to provide valuable insights to customers operating in retail, insurance, defense, natural resources, utilities, medicine, social sciences, and public safety. In addition, the users were able to create custom maps for solving specific business cases and had an option to add natural language processing to geospatial insights.
Similarly, Munich RE, one of the largest and reputed re-insurance companies in the world, uses predictive analytics, simulation, and spatial data processing capabilities of SAP HANA, an application that combines GIS and mapping with business data processes. The company has also deployed SAP HANAs cloud-based Earth Observation Analysis Service (EOAS) to analyze natural disaster data with public safety agencies to improve its decision-making capabilities with respect to insurance risks.
Key Insights Covered: Global Geospatial Analytics Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Geospatial Analytics industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Geospatial Analytics industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Geospatial Analytics industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Geospatial Analytics industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Geospatial Analytics industry.
Research Methodology: Global Geospatial Analytics Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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