Geospatial Analytics Market Size, Demand, Trends, Research and Growth 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Geospatial Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global geospatial analytics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the geospatial analytics market?

The global geospatial analytics market size reached US$ 89.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 197.1 Billion by 2028, exhibiting a growth rate (CAGR) of 14% during 2023-2028.

What are Geospatial Analytics?

Geospatial analytics represents the analysis of geological data obtained from maps, graphs, statistics, and cartograms for the representation of features or objects on the surface of the earth. It generally involves the use of the global positioning system (GPS), geotagging, location sensors, social media platforms, 3D scanners, mobile devices, and satellite imaging solutions for surface analysis, network analysis, geo-visualization, etc. Geospatial analytics also adds location to the real-time geospatial data and offers accurate insights through visual patterns and images. It is utilized in geographic information systems (GIS) for weather modeling, population forecasting, and monitoring of retail sales trends. Consequently, geospatial analytics finds extensive applications for disaster management, urban planning and development, exploring natural resources, etc

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What are the growth prospects and trends in the geospatial analytics industry?

The development of smart cities and the growing penetration of the Internet of Things (IoT) are primarily driving the geospatial analytics market. Additionally, continuous improvements in 5G infrastructures and numerous technological advancements, including the rising integration of connected devices with Artificial Intelligence (AI) and Machine Learning (ML) that helps in image classification, object detection, semantic segmentation, instance segmentation, etc., are further catalyzing the market growth. Besides this, the increasing prevalence of military tensions is propelling the adoption of geospatial analytics by defense organizations to detect cross-border infiltration, improve situational awareness, and enhance satellite monitoring of troops and enemy movements, which is acting as another significant growth-inducing factor. Moreover, it is also utilized to track the disease and monitor the affected areas, on account of the sudden outbreak of the COVID-19 pandemic, which is expected to fuel the geospatial analytics market over the forecasted period.

Who are the key players operating in the industry?

The report covers the major market players including: 

  • Alteryx Inc.
  • Descartes Labs Inc
  • Environmental Systems Research Institute Inc.
  • General Electric Company
  • Hexagon AB
  • Oracle Corporation
  • Orbital Insight Inc.
  • SAP SE
  • Sparkgeo
  • TomTom N.V.
  • Trimble Inc.
  • Ubimo Ltd. (Quotient Technology).

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

  • Solution
  • Services

Breakup by Type:

  • Surface and Field Analytics
  • Network and Location Analytics
  • Geovisualization
  • Others

Breakup by Technology:

  • Remote Sensing
  • GIS
  • GPS
  • Others

Breakup by Enterprise Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises

Breakup by Deployment Mode:

  • On-premises
  • Cloud-based

Breakup by Vertical:

  • Automotive
  • Energy and Utilities
  • Government
  • Defense and Intelligence
  • Smart Cities
  • Insurance
  • Natural Resources
  • Others

Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Ask Analyst for Customized Report: https://www.imarcgroup.com/request?type=report&id=4683&flag=E

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:                                                              

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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