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Rising use of AI and ML in geospatial analytics, increasing number of government projects, and rapid urbanization are some key factors driving market

VANCOUVER, BC, CANADA, March 14, 2022 /EINPresswire.com/ -- The global geospatial analytics market size is expected to reach USD 134.23 Billion in 2028 and register a CAGR of 12.1% during the forecast period, according to latest analysis by Emergen Research. Some major factors driving market revenue growth of the market are rising use of Artificial Intelligence (AI) and Machine Learning (ML) in geospatial analytics systems, rapid urbanization, rising number of government projects, and advancements in 5G communication technology. For instance, in March 2018, Esri and Microsoft launched Geospatial AI in Azure. Rise in demand for geospatial analytics from the military sector in order to optimize placement of resources by using predictive analytics is another factor contributing to market revenue growth. Geospatial analytics is being widely used in urban planning and smart cities. In addition, geospatial data plays an important role in the development and deployment of 5G network infrastructure.

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The new report titled ‘Global Geospatial Analytics Market’, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global Geospatial Analytics market outlook over the forecast duration (2019-2028). Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments. The report provides crucial details, such as the market shares of the key players, which help the reader attain a comprehensive outlook of the Geospatial Analytics market.

Some major players in the global market include

ESRI, Precisely, Oracle Corporation, Alteryx, Fugro N.V., Hexagon AB, RMSI, SAP, Trimble Navigation Ltd., and Maxar Technologies.

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Key insights presented in the report:

Market revenue shares by major business players, by type, by application, and market scope of global Geospatial Analytics market

Sales revenue by key players and new entrants

Competitive analysis of key players, including aspects such as company overview, product or services specification, vendors, and buyers

Recent mergers, acquisitions, product launches, recent investments, and joint ventures

Regional analysis to provide insight into recent trends and opportunities

Emergen Research has segmented the global geospatial analytics market based on component, solution, application, deployment type, and region.

Component Outlook

Solutions

Services

Solution Outlook (Revenue, USD Billion; 2018–2028)

Geocoding and Reverse Geocoding

Data Integration and ETL

Reporting and Visualization

Thematic Mapping and Spatial Analysis

Others (DBMS and Data Storage Software)

Application Outlook (Revenue, USD Billion; 2018–2028)

Surveying

Medicine and Public Safety

Disaster Risk Reduction and Management

Climate Change Adaptation

Others (Supply Chain Planning and Optimization, Sales and Marketing Optimization, Predictive Asset Management, and Inventory Management)

Deployment Type Outlook (Revenue, USD Billion; 2018-2028)

On-Premise

Cloud

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Key regions covered in the report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Key Highlights from the Report

In July 2020, ESRI added a new deployment option to ArcGIS Indoors and Space Planner and for ArcGIS Indoors Mobile in ArcGIS Pro, as part of June 2020 update.

In June 2020, Alteryx introduced intelligence suite and analytics hub with an aim to boost the process of analytic automation. This system enables organizations to transform the analytic process digitally to drive business and achieve societal outcomes.

North America accounted for largest revenue share contributor in 2020 and is expected to increase further during the forecast period. This can be attributed to presence of key players in the region. Availability of advanced systems and modernized research facilities in countries in the region is also driving market growth. Rise in demand for location-based services and real-time information is another factor driving market growth.

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Thank you for reading our report. Please get in touch with us if you have any queries regarding the report or its customization. Our team will ensure the report is best suited to your needs.

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