Geospatial Analytics Market Size was valued at USD 69.9 billion in 2022. The geospatial analytics market is projected to grow from USD 78.98 Billion in 2023 to USD 209.81 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.99% during the forecast period (2024 - 2032). Advancements in big data analytics and widespread applicability and advancements in location-based technology (LBT) are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst ReviewÂ
Geospatial analytics is being used by telecom companies like T-Mobile to optimise coverage and quality of service while planning deployments. While organising service deployments and coverage, telecommunications providers must consider a wide range of criteria. They must take into account the varying usage patterns, service demands, and the dynamic nature of the areas they serve.
According to industry analysts, the abundance of geospatial data accessible is outpacing people's capacity to comprehend it as government and business deploy more satellites, drones, and sensors than ever before. Artificial intelligence, according to Mark Munsell, Deputy Director for Data and Digital Innovation at the National Geospatial-Intelligence Agency.
Geospatial intelligence experts Orbital Insight and Carahsoft Technologies Corp. have joined forces. Carahsoft will act as Orbital Insight's Master Government Aggregator in accordance with the agreement. Through Carahsoft's reseller partners, Information Technology Enterprise Solutions - Software 2 (ITES-SW2), NASA Solutions for Enterprise-Wide Procurement (SEWP) V, National Association of State Procurement Officials (NASPO), ValuePoint, National Cooperative Purchasing Alliance (NCPA), and OMNIA Partners contracts, the company's AI-powered geospatial data analytics are now accessible to the public sector.
The rise of big data analytics has been one of the most significant changes for businesses in recent years. 162 zettabytes of digital data will be generated by 2025, according to the International Data Corporation (IDC). Businesses across a wide range of industries are constantly searching for new ways to use a rising amount of data to their advantage. Better decision-making is made possible by big data analytics, saving these organizations time as well as funds. The rapid use of geospatial technologies by numerous businesses, along with the emergence of new technologies like cloud services, embedded sensors, and social media, have made data mapping and analysis extremely difficult.
However, Numerous industries, including retail, mining, transportation, construction, and urban planning, heavily rely on location-based services. Location-based services that are connected with Geographic Information System (GIS) technology are widely utilized by companies and government organizations for a wide range of applications, including asset tracking, geospatial modeling, and route optimization. For tasks like building condition assessment, space utilization optimization, and route mapping, facility managers, for instance, use GIS technology to support a variety of business processes and information systems. Beyond their traditional applications, GIS and Global Positioning System (GPS) technologies are expanding to incorporate a wide range of consumer-focused, location-based applications. Geospatial and mapping technology will be among the top 5 technologies, and 78% of respondents, according to a survey by Information and Communications Technology for Development (ICT4D), Catholic Relief Services (CRS), and Devex, believe that the technology will have a progressive impact on the global digital transformation.
Strategic moves by well-known technological companies are anticipated to drive up market competitiveness across all sectors. For instance, in Jan 2020, As a part of GIS technology and OSI's operational technology (OT) platform, Esri, a leader in location technology, has teamed with Open Systems International, Inc. (OSI) to offer utility businesses ArcGIS Utility Network Management. Such efforts by major companies to bring in new clients are anticipated to fuel market expansion in the near future. Geospatial technologies are rapidly developing, and location-based data services in particular are likely to stimulate the global industry. In addition, it is anticipated that increased use of cloud-based GIS platforms will accelerate market expansion over the coming years. Due to the complexity involved in managing and storing location-based data, businesses now prefer cloud-based geographic information systems in order to save costs, boost productivity, and implement efficient data management processes. Thus driving the geospatial analytics market revenue.
The Geospatial Analytics Market segmentation, based on service includes consulting, integration and deployment, support and maintenance. Among these, consulting segment hold the largest share and integration and deployment is the fastest growing segment owing to the development of various kinds of geospatial analytical tools and adoption of location intelligence technologies are expected to drive the growth of these sub segments.
The Geospatial Analytics Market segmentation, based on type, includes surface and field analytics, network and location analytics, geovisualization, other types. With the widespread use of surface & field analytics by governmental and commercial organizations for infrastructure development projects, water flow analysis, and the design and construction of drainage systems, this segment dominated the market. In the agricultural sector, topsoil degradation is additionally investigated using this sort of geospatial analytics service. The technology aids in improving the value, relevance, and functionality of data analytics. It can also quickly organize and analyses an important amount of data to produce insightful business insights.
Figure 1: Geospatial Analytics Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American geopatial analytics market area will dominate this market, due to the region's extensive presence of major industry companies who provide geospatial analytics software and solutions. One of the key factors fueling the growth of the market in North America is the region's increased adoption of emerging technologies like big data analysis, cloud computing, IoT, AI, and other business intelligence tools. The abundance of remote sensing satellites, the accessibility of high-speed internet and communication network infrastructure, and the widespread use of UAV technology for gathering geospatial data are all anticipated to further fuel market expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLOBAL GEOPATIAL ANALYTICS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe geospatial analytics market accounts for the second-largest market share. The market in this area will benefit from the development of mobile GIS technology, which is anticipated to increase demand for location-based services and real-time information. Further, the German geospatial analytics market held the largest market share, and the UK geospatial analytics market was the fastest growing market in the European region
The Asia-Pacific Geospatial Analytics Market is expected to grow at the fastest CAGR from 2023 to 2032. The number of people living in cities has significantly increased as a result of the region's rising economies, including those of India, China, and Indonesia. This expansion has increased demand for smart cities, smart infrastructure, and well-planned urban landscapes. Leading the way in the development of 5G and IoT infrastructure are China, South Korea, and India. Moreover, China’s geospatial analytics market held the largest market share, and the Indian geospatial analytics market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the geospatial analytics market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, geospatial analytics industry must offer cost-effective items.
Solution and services provider are investing in technological advancement is one of the key business tactics used by service provider in the global geospatial analytics industry to benefit clients and increase the market sector. In recent years, the geospatial analytics industry has offered some of the most significant advantages. Major players in the geospatial analytics market, including ESRI (U.S.), Hexagon AB (Sweden), Harris Corporation (U.S.) and others, are attempting to increase market demand by investing in research and development operations.
ESRI is a privately held company headquartered in Redlands, California, USA. It was founded in 1969 by Jack and Laura Dangermond and is dedicated to providing innovative GIS (Geographic Information System) solutions that enable its customers to create, manage, analyze, and visualize geospatial data. Â ESRI is considered the world leader in GIS technology, with customers in industries ranging from government and defense, natural resources, utilities, transportation, and many others. ESRI's software products are used by millions of people worldwide, and the company has a global network of distributors and partners that help deliver its solutions.
For instance, in Jan. 2021, Esri, a leader in geospatial analytics and location intelligence technology, introduced ArcGIS Platform for analysts and developers who want to incorporate location intelligence services into their business models. Using their preferred web frameworks and APIs, developers may directly use the robust location services provided by Esri with ArcGIS, a geospatial platform as a service (PaaS).
Hexagon AB is a global technology company headquartered in Stockholm, Sweden. It was founded in 1992 and operates in over 50 countries, with approximately 21,000 employees. Hexagon's mission is to create innovative solutions that enable customers to design, measure, and position objects in the physical world. Hexagon has several business areas, including Geospatial, Manufacturing Intelligence, and PPM (Process, Power & Marine). The Geospatial division provides geospatial software solutions for surveying, mapping, and other spatial data applications. The Manufacturing Intelligence division offers products and services for quality control and metrology in manufacturing processes. The PPM division provides software solutions for the design and construction of industrial plants, offshore facilities, and ships.
For instance, in May 2022, The Oracle Cloud Marketplace now offers Intergraph G/Technology, an advanced geographic information system from Hexagon AB. Running G/Technology on Oracle Cloud Infrastructure accelerated performance, automated scalability, availability, and cybersecurity protection, and simplified initial system implementation. Additionally, it made sure the system was always updated with the newest additions and improvements.
Sept 2022Â Sanborn Map Company Inc., a provider of geospatial solutions for government and commercial clients, has acquired Applied Geographics, Inc., which helped numerous organisations in finding the most effective GIS, location intelligence, and geospatial solutions.
January 2022Â With the help of integrated and improved data, ideal site analysis and path planning, and customized customer experiences, Blueprint Technologies and Precisely have announced a partnership to help businesses gain a competitive edge.
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 69.9 billion |
| Market Size 2023 | USD 78.98 billion |
| Market Size 2032 | USD 209.81 billion |
| Compound Annual Growth Rate (CAGR) | 12.99% (2023-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Service, Type, Technology, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â IBM Corporation (U.S.) Trimble Navigation Ltd. (U.S.) ESRI (U.S.) General Electric (U.S.) MDA (Canada) Fugro N.V. (Netherlands) RMSI (India) Alteryx (U.S.) Hexagon AB (Sweden) Harris Corporation (U.S.) DigitalGlobe, Inc. (U.S.) Bentley Systems, Inc. (U.S.) Transerve technologies (India) |
| Key Market Opportunities | Advancements in big data analytics and widespread applicability Advancements in location-based technology (LBT) |
| Key Market Dynamics | Technical advancements in 4D GIS software |
Frequently Asked Questions (FAQ) :
The Geospatial Analytics Market size was valued at USD 69.9 Billion in 2022.
The global market is projected to grow at a CAGR of 12.99% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are IBM Corporation (U.S.) Trimble Navigation Ltd. (U.S.) ESRI (U.S.) General Electric (U.S.) MDA (Canada) Fugro N.V. (Netherlands) RMSI (India) Alteryx (U.S.) Hexagon AB (Sweden) Harris Corporation (U.S.) DigitalGlobe, Inc. (U.S.) Bentley Systems, Inc. (U.S.) Transerve technologies (India).
The consulting category dominated the market in 2022.
The Network and Location Analytics had the largest share in the global market.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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