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2021
Geospatial Analytics Market

Geospatial Analytics Market

by Component (solution and services), solution (geocoding & reverse geocoding, data integration & ETL, reporting & visualization, thematic mapping & spatial analysis, and others), Collection Method (Geographic Information System, Satellites, Unmanned Aerial Vehicle and Others) Deployment Mode (On-premise, Cloud), Organization Size (Large Enterprise, Small and Medium Size Enterprise), and Type, (Surface & Field Analytics, Network & Location Analytics, Geovisualization, And Others) Industry Vertical (Mining And Manufacturing, Government, Environmental Monitoring, Defence And Security, Engineering And Construction, Insurance, Automotive And Others): Global Opportunity Analysis and Industry Forecast, 2021-2030.

Report Code: A03959
Pages: 480
Dec 2021 | 12989 Views
Author(s) : Rachita R
Tables: 243
Charts: 105
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Geospatial Analytics Market Statistics—2030

The global geospatial analytics market size was valued at $60.94 billion in 2020, and is projected to reach $209.47 billion by 2030, growing at a CAGR of 13.0% from 2021 to 2030.

From the last quarter of 2019, COVID-19 pandemic created an unbalanced health situation, with stringent restriction to maintain social distancing and lockdown implemented across world. Thus, with a major aim to contain this pandemic, majority of the economies have enforced complete shutdown, thereby leading to decline in business operations. Sectors such as manufacturing and transportation have been severely impacted, worsening the business scenario and resulting colossal monetary and employment losses. However, this pandemic has elevated the growth for the geospatial analytics market, and is expected to exhibit two-fold increase during the forecast period. In addition, as per the study conducted at the Institute for Disease Modelling, Seattle, high-quality geospatial data allows models in tackling the pandemic by effectively providing information in terms of providing risk factors, setting-specific characterization of disease transmission, and forecasts of pathogen & viral prevalence. Furthermore, various governmental bodies are adopting geospatial analytics to gain real-time scenario in terms of tracking the spread of the coronavirus and accurate and constant updating of infected patients. For instance, the cross-sectoral collaboration and partnerships have boosted the market growth. For instance, in Tunisia, the Ministry of Public Health built a georeferenced database of hospital bed capacity, necessary medical equipment (including functional respirators & monitors, syringe pumps, and personal protective equipment), and corresponding medical staff. The major companies and organizations that are involved within this partnership are Esri, Graphtec, and the African Association for Geospatial Development (AGEOS). Despite these huge opportunities, there persists some technical challenges, including the integration of geospatial databases and maps and conversion factor of data into easily shareable visuals.

The key objective of geospatial analytics is to combine GIS technology with various scientific technology to process, transform, and validate useful information for business process. In addition, manufacturing and automotive industries are adopting geospatial analytics to provide better communication between organization and people. Geospatial analytics allows customers to capture & process different services, modifies existing orders, and processes customer moves.

Geospatial-Analytics-Market,-2021-2030

On the basis of organizational size, the large-scale enterprise segment dominated the overall geospatial analytics industry in 2020, and is expected to continue this trend throughout the forecast period. This is due to an increase in the adoption of geospatial analytics by enterprises to gain strategic and a competitive advantage over their competitors. Furthermore, it enables large-scale industry verticals to gain quick & easy-insights of customer requirement based on geo location. Customers use geospatial analytics to discover new insights on large-scale diverse data, including historical and recent data. This technology is suitable for running algorithms and analysis across a large set of data to find relevant relationships, entities, and insights. Furthermore, geospatial analytics continues to become mainstream, as more large enterprises are considering the extraction capabilities for getting valuable insights from big data, which is opportunistic for the market. However, the small and medium scale enterprise segment is expected to grow the most, and this trend is expected to continue during the forecast period. The small and medium scale businesses are shifting their business to a digital platform, small scale businesses are using geospatial analytics solutions for a number of uses and it is helping them to become more productive, smarter, and efficient.

Depending on the deployment model, the on-premise segment captured the largest share in 2020 and is expected to continue this trend during the forecast period. This is due to the numerous advantages offered by this on-premise deployment such as a high level of data security and safety this will create geospatial analytics market growth in future. However, the cloud segment is expected to witness the highest growth in the upcoming years. As a cloud deployment requires no investment in IT infrastructure as all data is stored on cloud server, which increases the demand for Geospatial Analytics software in small and medium scale organizations. 

The report focuses on the growth prospects, restraints, and geospatial analytics market analysis. The study uses Porter’s five forces analysis of the geospatial analytics industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, the threat of substitutes, and bargaining power of buyers on the geospatial analytics market trends.

Segment Review

The geospatial analytics market is segmented into component, deployment model, solution, type, technology, industry vertical, and region. In terms of component, the market is fragmented into solution and services. On the basis of solution, it is categorized into geocoding & reverse geocoding, data integration & ETL, reporting & visualization, thematic mapping & spatial analysis, and others. Depending on the collection medium, it is divided into the geographic information system, satellites, unmanned aerial vehicle and others. Depending on deployment model, it is bifurcated into on-premise and cloud. In terms of enterprise size, the market is fragmented into large enterprises and SMEs. By type, it is segregated into surface & field analytics, network & location analytics, geovisualization, and others. According to industry vertical, it is classified into mining and manufacturing, government, environmental monitoring, defence and security, engineering and construction, insurance, automotive and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA

Impact of COVID-19 on the Geospatial Analytics market trends

As per geospatial analytics market forecast the post COVID-19, the geospatial analytics market size was valued at $ 69.48 Billion in 2021 and is projected to reach $ 209.47 Billion by 2030, growing at a CAGR of 13.0% from 2020 to 2030. 

From the last quarter of 2019, COVID-19 pandemic created an unbalanced health situation, with stringent restriction to maintain social distancing and lockdown implemented across world. Thus, with a major aim to contain this pandemic, majority of the economies have enforced complete shutdown, thereby leading to decline in business operations. Sectors such as manufacturing and transportation have been severely impacted, worsening the business scenario and resulting colossal monetary and employment losses. However, this pandemic has elevated the growth for the geospatial analytics market, and is expected to exhibit two-fold increase during the forecast period. In addition, as per the study conducted at the Institute for Disease Modelling, Seattle, high-quality geospatial data allows models in tackling the pandemic by effectively providing information in terms of providing risk factors, setting-specific characterization of disease transmission, and forecast of pathogen & viral prevalence.

Geospatial Analytics Market
By Component

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Service segment is projected as one of the most lucrative segments.

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Furthermore, various governmental bodies are adopting geospatial analytics to gain real-time scenario in terms of tracking the spread of the coronavirus and accurate and constant updation of infected patients.

For instance, the cross-sectoral collaboration and partnerships have boosted the market growth. For instance, in Tunisia, the Ministry of Public Health built a georeferenced database of hospital bed capacity, necessary medical equipment (including functional respirators & monitors, syringe pumps, and personal protective equipment), and corresponding medical staff. The major companies and organizations that are involved within this partnership are Esri, Graphiec, and the African Association for Geospatial Development (AGEOS). Despite these huge opportunities, there persists some technical challenges, including the integration of geospatial databases and maps and conversion factor of data into easily shareable visuals.

Geospatial Analytics Market
By Technology

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Cloud segment is projected as one of the most lucrative segments.

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Top Impacting Factors    

The key factors impacting the growth of the global geospatial analytics market include upsurge in demand for AI-based GIS solutions and increase in demand for geospatial analytics in smart cities development and urban planning. In addition, use of satellite monitoring to control the spread of COVID-19 positively impacts the growth of the market. High cost of geospatial analytics and regulatory issues and lack of comprehensive government policies toward geospatial analytics are expected to further affect the market growth. Moreover, the adopting cloud-based GIS and increase in application of AR and VR technologies in geographic information system are expected to have a significant impact on the market growth during the forecast period. However, each of these factors is projected to have a definite impact on the growth of the geospatial analytics market. 

Increase in demand for GIS software in smart cities development and urban planning

Smart cities are data-driven and dependent on sharing real-time awareness. Collecting data from thousands of IoT sensors and analyzing it by an enterprise GIS creates visualization of the data on a map for immediate actionable insights. These insights can be used to track the delivery of city services and highlight areas where local council services need improvement. Location-based analysis of IoT data has further been used by local government to develop smarter parks, improve safety, and drive innovation. While developing smart cities projects, GIS solutions are implemented to create generalized location-enabled platform for use cases analysis in smart cities environments. These include automated natural hazard monitor web GIS with SMS warning, climate monitoring, urban design, intelligent transportation systems, and disaster management SDI. GIS software for smart city helps in site selection & land acquisition, planning, designing & visualization, construction & project management, and operations & reporting. Specialists apply GIS in urban planning for analysis, modeling, and visualization. By processing geospatial data from satellite imaging, aerial photography, and remote sensors, users gain a detailed perspective on land and infrastructure. These benefits of GIS are driving the growth of the geospatial analytics market.

Geospatial Analytics Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific is projected as one of the most significant region.

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Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the geospatial analytics market share along with the current trends and future estimations to elucidate the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on the geospatial analytics market size is provided.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the geospatial analytics market.
  • The quantitative analysis of the geospatial analytics market share from 2020 to 2030 is provided to determine the geospatial analytics market potential.

Geospatial Analytics Market Report Highlights

Aspects Details
By Component
  • Solution
  • Service
By Solution
  • Geocoding & Reverse Geocoding
  • Data Integration & ETL
  • Reporting & Visualization
  • Thematic Mapping & Spatial Analysis
  • Others
By Collection Medium
  • Geographic information system
  • Satellites
  • Unmanned aerial vehicle
  • Others
By Deployment Mode
  • On-premise
  • Cloud
BY ORGANIZATION SIZE
  • Large enterprises
  • SMEs
By Type
  • Surface & Field Analytics
  • Network & Location Analytics
  • Geovisualization
  • Others
By Industry Vertical
  • Mining And Manufacturing
  • Government
  • Environmental Monitoring
  • Defence And Security
  • Engineering And Construction
  • Insurance
  • Automotive
  • Others
BY REGION
  • North America  (U.S., Canada)
  • Europe   (UK, Germany, France, Rest of Europe)
  • Asia-Pacific   (China, India, Japan, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players ORACLE CORPORATION, SAP SE, BENTLEY SYSTEMS, INCORPORATED, ESRI, GENERAL ELECTRIC CO., HEXAGON AB (INTERGRAPH), TRIMBLE INC., TOMTOM INTERNATIONAL B.V., MDA CORPORATION, FUGRO, ALTERYX, INC., GOOGLE LLC
 

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In accordance with several interviews that were conducted of the top level CXOs, increase has been witnessed in the adoption of geospatial solutions among organizations as geospatial data adds more value to the business. In addition, governments across the globe are investing heavily in geospatial analytics, as it helps in boosting the technology economy of countries. Moreover, the demand for geospatial analytics solution is increasing in various Asian countries due to its application for disaster recovery & incidence management, mapping, in transportation, and development of smart cities projects.

The key providers of GIS software such as ESRI, Trimble Inc., Google, Inc., and Oracle Corporation account for a significant share in the market. According to industry experts, although the geographic information system is not a new technology, it is still expected witness increased adoption in the upcoming years, owing to rise in applications of GIS in various sectors and increase in need for geospatial analytics solution to manage large volume of geographic data Integration of emerging technologies such as natural language processing, machine learning, and data analytics impacts the growth of the geospatial analytics market. Also key market players are adopting strategies such as partnership, collaboration and product development which will drives the market globally. For instance in January 2018 ESRI the global leader in geographic information systems (GIS) and spatial analytics partnered with SAP SE to allow its geospatial marketing analytics system to run on the SAP HANA

In addition, development of 4D geospatial analytics solutions is anticipated to boost the growth of the market during the forecast period. Furthermore, while purchasing business intelligence and analytics solutions, GIS capabilities are anticipated to gain increasing importance, which is driving the demand for integrated solutions of geospatial analytics with business intelligence functionalities.

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