Enjoy complimentary customisation on priority with our Enterprise License!
The geospatial analytics market size is projected to reach a value of USD 102.97 billion with a CAGR of 17.72% between 2022 and 2027. The surge in geospatial data analytics adoption within the healthcare and insurance sectors is escalating. Additionally, there's an increasing utilization of geospatial data analytics in disaster management and the demand for real-time data capture is on the rise. This market research and growth report includes the key market drivers, trends, and challenges in the forecasted period.
To learn more about this report, Request Free Sample
This market has witnessed sustainable development growth, attributed to the integration of cutting-edge technologies like Artificial Intelligence, Augmented Reality, and Computer Vision. This synergy enables the extraction of insightful data, driving Business Intelligence to new heights within the geospatial domain. The escalating need for Climate Change Adaptation solutions has further propelled its demand, fostering Energy Conservation efforts and aiding in Logistics optimization.
For Instance, collaboration among tech giants like Google, Microsoft, Oracle Corporation, and innovative companies such as Here Technologies and Hewlett-Packard has resulted in groundbreaking advancements. The application of Health Informatics and Medical Devices intertwined with geospatial data has revolutionized healthcare by enhancing disease tracking and healthcare resource allocation.
The increasing adoption of Geospatial data visualization in the healthcare and insurance sectors is notably driving the market growth. Evidence-based medicine heavily depends on geography and spatial relationships. For example, Dr. John Snow tracked cholera deaths caused by a contaminated water source in the Soho neighborhood of London in the 1840s using a map. This was the healthcare sector's first application of analytics. Geodata infrastructure is used in medical informatics to improve patient care and personal health. Tracking the water quality in major cities, examining a person's location-based analytics and exposure to chemicals, and visualizing the risk of heart disease and stroke are a few of the major applications.
Furthermore, global demand for geospatial data visualization solutions is also being driven by the growing applications of geospatial data analytics in mapping the infected areas (of the human body) and the rising popularity of medical tourism. Hence, such factors will boost the growth of the market during the forecast period.
The emergence of smart cities is an emerging trend in market growth. The term smart cities refer to the integration of various digital technologies that will improve communication between devices by enhancing their performance, lowering costs, and assisting in the efficient use of resources. End-users can respond to urban settlement challenges more quickly with the aid of smart cities. During the forecast period, there will be an increase in the number of smart cities. As a result, it is anticipated that the installed smart devices in these smart cities will generate a significant amount of data. In order to innovate for a better future with faster connectivity and provide prompt suggestion-based services, this data will need to be analyzed.
Geographic information systems (GIS) is increasingly being used in the creation of smart cities. The goal of the smart city concept is to create a comprehensive system that makes use of this data to comprehend the intricacies of urban systems as well as their effectiveness and security. The design of the urban digital model, data collection using the sensing layer, data analysis, interactive data presentation, and system control are a few of the many steps that go into putting smart city projects into action. Geographic information systems (GIS) is essential to each of these procedures. GIS enables managers of smart cities to control urban operations through a popular and user-friendly digital platform. Thus, the rising development of smart cities will propel the growth of the global market during the forecast period.
Data privacy and security concerns are major challenges impeding market growth. As devices are connected via the internet and rely on the use of both private and public networks, data privacy and security issues are the main challenges for any organization. A highly secure environment must be created as important data is transferred through the system networks. A system network for an organization also includes a variety of devices, which occasionally may lead to interoperability problems.
Data breaches and cybersecurity problems have increased as a result of increased connectivity and data sharing. In the past, cybersecurity efforts were focused on a limited number of connected devices. The Internet of Things (IoT) revolution, however, will cause a significant blending of the real and virtual worlds. In comparison to the privacy breaches of personal data, the potential economic loss from cyberattacks on industries is substantial. Therefore, in an industrial setting, the risk of cyberattacks on the data gathered used sensors and devices is high. Such information can be accessed online and must go through authentication layers. Thus, these factors will adversely affect the growth of the global market during the forecast period.
Home Automation integration and the rising need for Precision Agriculture present significant opportunities, leveraging geospatial insights for enhanced efficiency and resource management. However, amidst these prospects lie potential threats. Cybersecurity concerns and the increasing reliance on Cloud Computing and Cloud Storage for data pose security vulnerabilities. As the market expands, Computer Security becomes paramount to protect sensitive geospatial information and ensure data integrity.
The adoption of geospatial analytics in Supply Chain Management promises efficiency but also faces hurdles concerning data integration across the Supply Chain. Urbanization offers opportunities for its applications in urban planning; however, it may strain resources if not managed effectively.
The market share growth by the global positioning system (GPS) will be significant during the forecast period. GPS allows for the georeferencing, positioning, navigation, and control of time and frequency. This helped the GPS to become the largest segment of the global market in 2022 and the trend is also expected to continue.
Get a glance at the market contribution of various segments View the PDF Sample
The GPS segment was valued at USD 28.05 billion in 2017 and continued to grow until 2021. The use of a GPS as a data input for a GIS is becoming more common, particularly for collecting field data and locating precise geospatial data. It is a satellite-based radio navigation system owned by the US government and run by the US Space Force and is also one of the geospatial data analytics technologies. It is a GNSS that enables the transmission of geolocation and time data to a GPS receiver anywhere on or near the Earth where there is an unhindered line of sight to four or more GPS satellites. Thus, GPS technology is expected to help in the precise positioning of this data, which will foster the demand for GPS technology in the global market during the forecast period.
Remote Sensing Technologies encompass the use of satellite, airborne, and sensor-based imagery to gather Earth-related information. Remote sensing technologies has long been pivotal in monitoring natural resources like water quality and forest coverage. Its significance spans across various sectors such as meteorology, agriculture, disaster management, and military intelligence. Remote sensing technologies forms a cornerstone in modern geospatial data analysis. Moreover, the structured data collection approach simplifies data gathering, which can be swiftly processed using AI and other tools. These benefits are anticipated to propel the growth of the remote sensing technologies segment within the global geospatial data analytics market in the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America was the largest region of the global geospatial data analytics market in 2022 and will continue to be the largest segment of the market during the forecast period. North America is a desirable market for geographic information systems (GIS) products because it was a pioneer in implementing cutting-edge technologies across industries. The industrial sector is technologically advanced and developed throughout the region. Since the industry is more developed, there are more success stories, which eventually causes technology adoption to accelerate. In addition, the top companies in the market that have a strong presence and penetration in the region will also contribute to the market growth during the forecast period.
One of the most desirable markets in the area for Geographic Information Systems (GIS) products is the US. It is a significant source of revenue for the regional market because it is the global industrial hub and a pioneer in implementing cutting-edge technologies. In the US, the telecommunications and healthcare industries both make extensive use of geospatial data analytics solutions. The US market for geospatial data analytics is dominated by Esri Global Inc. Similarly, Canada makes a sizable contribution to the regional market. Due to the increased adoption of geospatial data analytics solutions by the government, utilities, and telecommunications sectors, the market in Canada is also anticipated to expand quickly. Thus, the above-mentioned factors will boost the growth of the regional market during the forecast period.
Big Data in geospatial analytics refers to the utilization of large and complex datasets, along with advanced analytical techniques, to extract valuable insights and patterns related to geographic location-based analytics, spatial relationships, and various geographic features. The integration of Big Data in geospatial analytics has transformed how organizations interpret and utilize vast amounts of location-based analytics for decision-making, planning, and understanding spatial trends. Big Data in geospatial analytics involves handling immense volumes of spatial data from diverse sources, including satellite imagery, GPS data, social media geotags, IoT sensors, and more.
Spatial data analysis involves the examination, interpretation, and visualization of geographic data to uncover patterns, trends, relationships, and insights related to various geographical features and locations. It encompasses the application of analytical techniques to understand the spatial relationships and characteristics within geographic information, facilitating informed decision-making in numerous fields.Spatial data analysis plays a pivotal role in driving the growth of the Geospatial Analytics Market by offering valuable insights derived from geographic information. The goal of spatial data analysis is to extract meaningful insights from geographic data, allowing stakeholders to make informed decisions, solve problems, optimize resources, and understand spatial relationships for effective planning and management.
Companies are implementing various market trends and analysis strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CartoDB Inc. - The company offers GIS, web mapping, and spatial data science tools for data analysis and visualization. The key offerings of the company include geospatial data analytics for cloud connectivity, integration, and visualization.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market comapnies, including:
Innovation and investments in Research and Development are key for market growth and trends, especially concerning Small and Medium-sized Enterprises seeking scalable solutions. The emergence of Smart Transducer offers new avenues, but their integration requires robust Quantitative Research to validate their efficacy with scalability and strategic management planning.
The Geospatial Analytics Market is experiencing robust growth driven by the increasing demand for sustainability and smart city development initiatives across various sectors including transport, government, and corporations. Leveraging geospatial technology and ML (machine learning), organizations are gaining competitive advantage through location intelligence technologies for data mining and geospatial analysis. With a focus on energy efficiency and renewable resource use, the market is witnessing significant investment from governments and military spending for defense and intelligence applications such as troop movements and target identification. AI (Artificial Intelligence) and ML algorithms are deployed in digital mapping and emergency management efforts, ensuring confidentiality features and security in critical data management applications.
The geospatial analytics market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
188 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.72% |
Market growth 2023-2027 |
USD 102.97 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
14.97 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 39% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alphabet Inc., Alteryx Inc., Autodesk Inc., Bentley Systems Inc., CartoDB Inc., Development Seed, Esri Global Inc., Fugro NV, General Electric Co., Geomap Co., Hexagon AB, International Business Machines Corp., L3Harris Technologies Inc., Maxar Technologies Inc., Pitney Bowes Inc., QlikTech international AB, SAP SE, TomTom NV, Topcon Positioning Systems Inc., and Trimble Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Historic Market Size
6 Five Forces Analysis
7 Market Segmentation by Technology
8 Market Segmentation by End-user
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.