Geospatial Market Research Report: Information, By Type (Network Analytics, Surface Analytics, and Geo-visualization), By Technology (GPS, Remote Sensing, and GIS), By End-Users (Automotive, Government, and Defense & Intelligence), And, By Region (North America, Europe, Asia-Pacific, And Rest of the World) – Market Forecast till 2030.

Geospatial Market Overview

Geospatial market size was valued at USD 81.3 billion in 2021. The Geospatial market industry is projected to grow from USD 91.6251 billion in 2022 to USD 211.5835375 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.70% during the forecast period (2022 - 2030).Rising adoption of smart technologies such as AI, ML, and others and increasing adoption of 5g technology are the key market drivers enhancing the geospatial market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Geospatial Market Trends

Rising adoption of advanced technologies to boost the market growth. The market is anticipated to have considerable expansion throughout the projected period as a consequence of rising IoT acceptance and penetration around the world, also the advent of AI and big data analysis. Additionally, a number of developments in artificial intelligence (AI) and big data have made it possible for suppliers of geospatial analytics solutions and services to provide on-demand analytics of huge and complicated datasets. Additionally, these developments have made it possible to integrate information systems into a hybrid cloud computing environment.

Geospatial analysis examines geographic and spatial data using a variety of analytical techniques, including statistical analysis. Additionally, it makes use of software programmes that can process spatial data, produce maps, and apply analytical techniques to geographic or terrestrial datasets with the use of GIS and geomatics. Additionally, it is simple to incorporate geospatial information systems into an organization's current enterprise information systems. These benefits are the main forces behind the expansion of the geospatial analytics market. Therefore, such a growth in the technological development has enhanced the Geospatial market CAGR across the globe in recent years.

Furthermore, Geospatial market revenue is anticipated to be constrained over the projected period. In order to serve a variety of businesses, including government and defence, utilities, public safety, healthcare, and natural resources, the technology is currently widely implemented. It also has significant applications in disaster risk reduction and management and climate change adaptation (CCA) (DRRM).

Geospatial Market Segment Insights

Geospatial Type Insights

The Geospatial market segmentation based on type, includes network analytics, surface analytics, and geo-visualization. The surface analytics segment held the majority share in 2021, contributing to the Geospatial market revenue. Due to the widespread adoption of surface & field analytics by public and private organizations for infrastructure development projects, water flow analysis, and the planning and construction of drainage systems, this sector dominated the market. In order to assess topsoil degradation, the agricultural sector also uses this type of geospatial analytics service.

Network analytics is the second fastest-growing segment, which accounts for a considerable share of the Geospatial market. Due to its expanded use to generate and offer highly-customized promotional content as well as optimize marketing techniques, the network analytics category is predicted to grow at the quickest rate over the course of the forecast year. Geospatial analytics heavily relies on location. The technology aids in improving the usefulness, relevance, and functionality of data analytics. It can also quickly organize and analyze a significant volume of data to produce insightful business conclusions.

May 2021: Mapbox, the leading mapping and location cloud platform for developers, and Ookla, the renowned network intelligence firm behind both Speedtest and Downdetector, are collaborating together to build ground-breaking, network-aware mapping solutions. Both businesses will work together on technologies that provide their respective clients with substantial new value.

Figure 2: Geospatial Market, by Type, 2021 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Geospatial Technology Insights

The Geospatial market segmentation based on technology, includes GPS, Remote Sensing, and GIS. The remote sensing segment held the majority share in 2021, contributing to the Geospatial market revenue. Most earth scientific fields, including hydrology, ecology, meteorology, oceanography, glaciology, and geology, use remote sensing, mostly for land surveying. Remote sensing is employed for military intelligence by nations with the most potent military forces, including the United States, NATO, Russia, Japan, Israel, China, and India, in addition to commercial, economic, planning, and humanitarian applications.

GPS is the second fastest-growing segment, which accounts for a considerable share of the market. Atomic clocks with extreme accuracy are used to generate GPS time signals. The automatic updating of Daylight Saving Time on mobile devices, as well as disaster assistance and emergency services, are all possible uses for this technology.

Geospatial End-Users Insights

The Geospatial market segmentation based on end-users, includes Automotive, Government, and Defense & Intelligence. The automotive segment held the majority share in 2021, contributing to the Geospatial market revenue. The automobile industry is changing quickly due to structural changes, electrification, technology advancements, and other change-causing factors. Along with other problems, it raises concerns about security dangers associated with the usage of digital information. This brings up security concerns that geographic information systems may be able to address.

Geospatial Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Geospatial market accounted for USD 35.1216 billion in 2021 and is expected to exhibit a 43.20% CAGR growth during the study period. Due to the large number of major industrial companies offering geospatial analytics software and solutions in the region, North America led the market. DigitalGlobe (U.S.), Alteryx, Inc. (U.S.), Pitney Bowes (U.S.), ESRI (U.S.), and Google LLC are significant participants in the area (U.S.). One of the key factors fueling the market's growth in North America is the region's increased adoption of emerging technologies like big data analytics, 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 to collect geospatial data are all anticipated to fuel market expansion further.

Both the U.S. and Canada have programmes specifically designed to help startups in the geospatial domain get off the ground, such Startup VISA Canada. These national innovation initiatives draw top innovators from around the world and introduce fresh blood to the geospatial data collection, comprehension, and application fields. Because of these elements, North America is anticipated to keep dominating the market over the forecast period. Thus both U.S. geospatial market and Canada geospatial market are anticipated to grow.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: GEOSPATIALMARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Asia Pacific Geospatial market held the second-largest share during the projected period, it is expected to grow sustainably. An increasing demand in China, India, and Japan is expected to make the Asia Pacific region the market with the quickest growth. China's fast industrialization, expansion of the infrastructure and logistics industries, and rise in demand are mostly to blame. For disaster preparedness, environmental monitoring, and forest management, these nations make substantial use of analytics solutions. Government and public safety organizations in the area have also adopted geospatial analytics at a significantly higher rate. Hence, the China Geospatial market held the largest share in the regional market.

Furthermore, the Europe Geospatial market is predicted to grow. The European geospatial market is expected to reach USD 155 billion by 2025, growing at a CAGR of 11.61% between 2021 and 2025, according to Geospatial World's European Geospatial Business Outlook Dossier.

Geospatial Key Market Players & Competitive Insights

Major market players are spending a lot of capitals on R&D to enhance their grade lines, which will aid the Geospatial market expand. Market players are also taking a range of strategic measures to expand their worldwide footprint, with prime market developments such as new grade innovations & launches, contracts & agreements, mergers and acquisitions, better investments, and collaboration & strategic partnerships with other organizations in the Geospatial market. Competitors in the Geospatial industry must offer cost-effective items to extend and survive in an increasingly high competitive and expanding market environment.

One of the primary business strategies adopted by manufacturers in the Geospatial industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Geospatial industry has provided medicine with some of the most significant benefits. The Geospatial market major player such as Bentley Systems Inc. (U.S.), DigitalGlobe Inc. (U.S.), General Electric Co. (U.S.), Harris Corporation (U.S.), and Dettwiler & Associates Ltd. (Canada), and others are working to drive the market growth via investing heavily in research and development activities.

Bentley Systems Inc. (U.S.) offers software solutions for infrastructure engineering, plant engineering professionals, project delivery businesses, and owner-operators. Integrated software offerings from the company span professional disciplines, project and asset lifecycles, infrastructure industries, and geographical locations. In September 2022, The infrastructure engineering software provider Bentley Systems, Inc. and Genesys International, a pioneer in cutting-edge mapping and geospatial content services, announced the launch of Genesys' 3D City Digital Twin Solution for Urban India.

Also, General Electric Co. (U.S.) is an industrial company. The company does business through its industrial businesses, Power, Renewable Energy, Aviation, and Healthcare, as well as its financial services segment, Capital. In March 2021, Three 400-kiloVolt (kV) Gas-Insulated Substations (GIS) in Nepal will be built by GE. The Asian Development Bank and the government of Nepal jointly funded the multimillion-dollar contract that the Nepal Electricity Authority awarded as part of the South Asia Subregional Economic Cooperation (SASEC) Power Transmission and Distribution Project.

Key Companies in the Geospatial market includes

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  Bentley Systems Inc. (U.S.)

  
  


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  DigitalGlobe Inc. (U.S.)

  
  


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  General Electric Co. (U.S.)

  
  


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  Harris Corporation (U.S.)

  
  


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  Dettwiler & Associates Ltd. (Canada)

  
  


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  ESRI (U.S.)

  
  


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  Hexagon AB (Sweden)

  
  


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  Fugro N.V. (Netherlands)

  
  


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  MacDonald

  
  


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  Trimble Navigation LTD (U.S.), among others

  
  

Geospatial Industry Developments

October 2022: Kudan and Innoviz Technologies have announced their alliance. Using Innoviz LiDARs and Kudan's perception software, machines can move autonomously and create 3D representations of their surroundings.

Geospatial Market Segmentation

Geospatial Type Outlook

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  Network Analytics

  
  


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  Surface Analytics

  
  


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  Geo-visualization

  
  

Geospatial Technology Outlook

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  GPS

  
  


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  Remote Sensing

  
  


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  GIS

  
  

Geospatial End-Users Outlook

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  Automotive

  
  


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  Government

  
  


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  Defense & Intelligence

  
  

Geospatial Regional Outlook

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  North America

  
  

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  US

  
  


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  Canada

  
  

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  Europe

  
  

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  Germany

  
  


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  France

  
  


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  UK

  
  


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  Italy

  
  


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  Spain

  
  


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  Rest of Europe

  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America