- The European region is estimated to observe considerable growth in the Geospatial Analytics Software Market.
- There is high demand for the geospatial technology in the real estate sector for developing smart cities.
- These tools tools help organize data within geographic boundaries, and zoom in at different levels to evaluate for trends.
Gathering geographical information has increased at a steady pace in recent times helping us analyze and make important decisions relating to our world, such as crisis planning and management to name a couple. The industry is estimated to earn revenues worth $95 billion by while expanding at an impressive 19 % CAGR in the forecast period.
The diversifying nature of geospatial analytics’ commercial applications are the main driving factors driving the industry in the forecast period. Technologies such as GPS, GIS, LiDAR technology, remote sensing are expected to lead the way in the expansion of the market, due to their increasing employment in conducting geospatial analytics. Geospatial data commercialization is expected to be the main driver for the expansion of the market through the forecast period.
The Geospatial Analytics Software Market includes competitors such as Trimble Navigation Ltd. (U.S.), ESRI (U.S.), IBM Corporation (U.S.), General Electric (U.S.), Fugro N.V. (Netherlands), RMSI (India), Alteryx (U.S.), Bentley Systems, Inc. (U.S.), Hexagon AB (Sweden), MDA (Canada), Harris Corporation (U.S.), DigitalGlobe, Inc. (U.S.) and Transerve Technologies (India).
The industry segments of the Geospatial Analytics Software Market are segmented into application, type, component, technology and end-user.On the basis of component, the industry is segmented as services and software. The services segment of the market is segmented into managed services and professional services. Professional services are further divided into training services and consulting services.
Moreover, the market segment is segmented into network analytics, surface analytics, and geo-visualization. Additionally, the technology segment of the market is segmented into global positioning system (GPS), LiDAR Technology, 3D laser scanning, photogrammetric, remote sensing, geographic information system (GIS), and others.
The application segment of the Geospatial Analytics Software Market is segmented into survey solutions, land administration, mobile mapping and others. Lastly, on the basis of end-user, the market is segmented into construction & real estate, forestry, retail, marine & mining, energy, transportation & logistics, agriculture and others.
Detailed Regional Analysis
The Geospatial Analytics Software Market is segmented into four major regions such as Asia Pacific, Europe, North America and the Rest of the World. The European region is estimated to observe considerable growth in the Geospatial Analytics Software Market. Germany, United Kingdom and France are important nations in the region. This is primarily due to the growth in demand for the geospatial technology for the security and safety applications for the automotive and aerospace sectors.
The Asia Pacific region is also estimated to be the most rapidly growing region in the Geospatial Analytics Software Market over the forecast period. Japan, India, South Korea and China are the foremost countries in the Geospatial Analytics Software Market. This is primarily owing to the higher demand for the geospatial technology in the real estate sector for developing smart cities.
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Global Competitive Analysis
Challengers in the market who are constantly delivering customer value have devised their corporate strategy blueprint in a manner that can bring about the best outcomes for development in the current scenario, while also concurrently enhancing their product’s value. The capability to fuel their competitive edge is one of the chief causes powering their efforts in this period. The opportunity for development in the industry appears to be encouraging through the forecast period.
The escalating interest for diversification in the industry, has indirectly allowed the companies to utilize many scenarios available in the industry. This situation has created prospects for portfolio improvements along with diversification in the sector, which has enhanced the scenario for market competitors immensely in this industry. The firms in this industry are also trying to improve and preserve financial liquidity that can be vital to invest in growth prospects as they arise.
Apr 2018 As a result of its partnership with Mapbox, Microstrategy has re-released a latest version of its Microstrategy 10 platform. The tools will enable Microstrategy users to apply analytics to discover large datasets, as well as geospatial data and real-time location data. The tools will help organize data within geographic boundaries, and zoom in at different levels to evaluate for trends.