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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.
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Increase in demand for AI-based GIS solutions, rise in inclination toward adopting GIS software in smart cities development and urban planning, and surge in the use of satellites in monitoring the spread of COVID-19 drive the global geospatial analytics market. However, the incorporation of advanced technologies such as AR, VR, and IoT for GIS and development of 4D GIS software are expected to create lucrative opportunities in the industry.
The global 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.
By component, the solution segment acquired major geospatial analytics market size owing to the increasing adoption of advanced technologies such as AI, machine learning, and cloud computing, which enhance the capabilities of geospatial systems. These solutions enable organizations to process, analyze, and visualize vast amounts of spatial data more efficiently, providing actionable insights for decision-making. In addition, the growing geospatial analytics market demand for location-based services across industries such as urban planning, agriculture, transportation, and environmental monitoring further fuels the adoption of geospatial analytics solutions. The ability to integrate real-time data, improve predictive analysis, and optimize resource management makes these solutions crucial for businesses and governments seeking to enhance operational efficiency and sustainability. Moreover, the scalability and flexibility of these solutions, particularly those offered via cloud platforms, have contributed to their widespread implementation across various sectors.
Based on region, the market across North America held the lion’s share in 2020, garnering around two-fifths of the global market. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 15.7% by the end of 2030.
The key market players analyzed in the global geospatial analytics market report include Bentley Systems, Incorporated, ESRI, Furgo NV, General Electric, TOMTOM International, Inc., Hexagon AB, Google, Inc., MDA Corporation, Oracle Corporation, SAP SE, Trimble, Inc., and Alteryx, Inc.
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- Geospatial Analytics Market Forecast Expected to Reach USD 209.47 Billion by 2030 | Growing with 18.8% CAGR
- 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.
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