Geospatial Analytics Market Increasing Rapidly At A CAGR Of 15.0% With Most Prominent Players: Oracle Corporation,Google LLC., Fugro N.V, Hexagon AB, SAP SE, Trimble Inc.

October 30 10:24 2019
Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,The global geospatial analytics market size is expected to reach USD 134,479.7 million by 2025, registering a CAGR of 15.0% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc.

According to a report, “ Geospatial Analytics Market Size, Share & Trends Analysis Report By Component, By Type, By Application (Surveying, Medicine & Public Safety), By Region And Segment Forecasts, 2019 – 2025 ”, published by Grand View Research, Inc.,The global geospatial analytics market size is expected to reach USD 134,479.7 million by 2025, registering a CAGR of 15.0% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Numerous innovations and advancements in the drone technology and increasing deployment of Unmanned Aerial Vehicles (UAVs) for remotely monitoring and gathering a large number of location data with minimal human intervention are likely to unfold new opportunities for market growth. Additionally, the increasing use of GPS-enabled smartphones and devices is also anticipated to drive market growth.

Increasing smart city initiatives have resulted in the growing need for innovative technologies for use in 3D urban mapping; monitoring and mapping natural resources, agriculture, and utilities; and disaster management. In case of natural disasters, location-based analytics enables decision makers to take suitable actions. Moreover, major oil & gas companies across the globe are increasingly deploying geospatial analytics solutions to discover potential crude oil and natural gas deposits and to monitor their vast pipeline network.

The use of geospatial technologies in the automotive industry is increasing owing to the growing safety concerns among passengers. According to data released by the U.S. Census Bureau, about 85.7 percent of the U.S. employees above 16 years of age commute to work in a van, car, or truck, either by driving alone or via carpooling. With around 125 million people traveling by road every day, the U.S. transportation system faces numerous challenges such as congested highways and fatal vehicle collisions.

As per the National Highway Traffic Safety Administration, it is estimated that on an average, 102 people die from vehicle accidents every day. In an attempt to address this, automotive manufacturers are focusing on implementing technologies such as IoT and location-based services in vehicles to make driving safer and easier. The commercialization of upcoming autonomous vehicles also heavily relies on the integration of Geographic Information Science (GIS) and advanced geospatial technology.

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U.S. geospatial analytics Market

Further key findings from the study suggest:

  • The service segment is anticipated to emerge as the fastest-growing component segment over the forecast period owing to the increasing demand for deployment, training, and support services by government and public safety agencies

  • The network & location analytics segment is anticipated to gain traction owing to the increasing use of network & location analytics systems by companies for analyzing buying behavior and foot traffic patterns as well as for studying behavior patterns in a brick-and-mortar environment

  • The military intelligence application segment is expected to witness the highest growth over the forecast period owing to the rising adoption of UAVs and increasing number of remote sensing satellites

  • Asia Pacific is expected to register the highest CAGR from 2019 to 2025. Numerous smart city initiatives such as the ASEAN Smart Cities Initiative are anticipated to fuel the demand for geospatial analytics software in the region

  • Key players operating in the geospatial analytics market include Alteryx, Inc., DigitalGlobe, Fugro N.V., Hexagon AB, RMSI, SAP SE, Trimble Inc., Maxar Technologies Inc., MapLarge, Harris Corporation, Bentley Systems Incorporated, ESRI, General Electric Company, Oracle Corporation, and Google LLC.

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Application Insights

Based on application, the market has been classified into surveying, medicine & public safety, military intelligence, disaster risk reduction & management, marketing management, Climate Change Adaptation (CCA), urban planning, and others. The surveying segment dominated the market in 2018 owing to its wide-scale adoption in agriculture and natural resource monitoring. However, the military intelligence segment is expected to emerge as the fastest-growing segment over the forecast period. This may be attributed to the increasing number of remote sensing satellites globally for border patrolling, which demands the use for geospatial analytics.

Europe geospatial analytics Market

Remote sensing is majorly used for land surveying and in most of the earth science disciplines including hydrology, ecology, meteorology, oceanography, glaciology, and geology. Apart from the commercial, economic, planning, and humanitarian applications, remote sensing is also used for military intelligence purposes by countries with the most powerful military capabilities, such as the U.S., North Atlantic Treaty Organization (NATO), Russia, Japan, Israel, China, and India. Moreover, organizations such as National Emergency Management Agency (NEMA) use geospatial analytics for improving disaster response and preparedness as the technology helps in devising effective disaster management strategies through proper disaster visualization, deployment of rescue teams, and planning of post-disaster activities such as reconstruction and rehabilitation.

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Grand View Research has segmented the global geospatial analytics market based on component, type, application, and region:

Geospatial Analytics Component Outlook (Revenue, USD Million, 2014 – 2025)

  • Software

  • Service

Geospatial Analytics Type Outlook (Revenue, USD Million, 2014 – 2025)

  • Surface & Field Analytics

  • Network & Location Analytics

  • Geovisualization

  • Others

Geospatial Analytics Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Surveying

  • Medicine & Public Safety

  • Military Intelligence

  • Disaster Risk Reduction & Management

  • Marketing Management

  • Climate Change Adaption (CCA)

  • Urban Planning

  • Others

Geospatial Analytics Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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