Press Release / Technology / Geospatial Analytics Market Size, Share, Growth and Forecast to 2023

Geospatial Analytics Market Size, Share, Growth and Forecast to 2023

Market Scenario
The geospatial analysis is the process of collecting, displaying, and manipulating the imagery, satellite images with respect to the geographic coordinates explicitly. Whereas, the data collected in terms of a street address, postal code, or forest stand identifier together applied to geographic models. The geospatial analysis has been evolved through the implementation of geographic information system (GIS) which is used to forecast, coordinate, and gather all types of natural phenomena affecting the earth crust including inhabitants and their man-made system. Companies such as IBM Corporation, General Electric, Hexagon AB, Alteryx, and many more are involved in the geospatial analytics market.

Geospatial analytics are widely used in various commercial applications which include crisis management, land surveys, climate change, weather forecasting, human population forecasting, animal population management and many more. There are many technologies which are involved in geospatial analytics such as GPS, GIS, LiDAR technology, remote sensing, and many more. These technologies help to provide real-time information for the business enterprises for making a business decision and deploy their various services in different industry verticals such as agriculture, energy, and power, manufacturing, automotive and Others. However, surging demand for geospatial analytics consolidated with artificial intelligence and commercialization of geospatial data are expected to be driving factors for the growth of geospatial analytics market over the forecast period.

The global Geospatial Analytics Market is expected to reach approximately USD 95 billion by 2023 growing at a 19% CAGR over the forecast period 2018-2023

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Key Players
Some of the key players of Geospatial Analytics Market include IBM Corporation (U.S.), Trimble Navigation Ltd. (U.S.), ESRI (U.S.), General Electric (U.S.), MDA (Canada), Fugro N.V. (Netherlands), and RMSI (India), Alteryx (U.S.), Hexagon AB (Sweden), Harris Corporation (U.S.), DigitalGlobe, Inc. (U.S.), Bentley Systems, Inc. (U.S.), and Transerve technologies (India).

Segmentation
The Geospatial Analytics Market is differentiated by component, type, technology, application, and end-user.
By component, the geospatial analytics market is sub-segmented as services and software. On the basis of services, the market is sub-segmented into professional services and managed services. The professional services are further segregated into consulting services and training services. Additionally, by the type, the market is classified as surface analytics, network analytics, geo-visualization. Furthermore, on the basis of technology, the market is sub-divided into photogrammetric, LiDAR Technology, 3D laser scanning, remote sensing, a global positioning system (GPS), geographic information system (GIS), and others.
By application, the market is sub-divided into land administration, survey solutions, mobile mapping and others. Lastly, on the basis of end-user, the market is differentiated into agriculture, construction & real estate, energy, forestry, marine & mining, retail, transportation & logistics, and others.

Regional Analysis
Geographically, the geospatial analytics market is segmented into four different regions namely North America, Asia Pacific, Europe, and the Rest of the World.

Europe is presumed to have significant growth in the geospatial analytics market. The United Kingdom, Germany, and France are leading countries in the region. This is due to increase in demand for the geospatial technology for the safety and security applications for the automotive and aerospace sectors. Asia Pacific is also anticipated to be the fastest growing region in the geospatial analytics market over the forecast period. India, Japan, South Korea and China are the leading countries in the geospatial analytics market. This is due to greater in demand for the geospatial technology in real estate sector for developing smart cities.

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Target Audience
Associations & Industry Bodies
Cloud Service Providers
Technology Consultants
Value Added Resellers
Satellite Service Providers
Research Firms
Government Bodies, regulatory Firms

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