Increasing use of AI and ML in geospatial analysis, increasing number of government projects and rapid urbanization
VANCOUVER, BC, CANADA, April 4, 2022 /EINPresswire.com/ — The Global Geospatial Analytics Market report assesses historical and current data along with an in-depth analysis of market dynamics. The report also throws light on the market growth driving and restraining factors that are expected to influence the growth of the market during the forecast period. The Global Geospatial Analytics Market studies the market scenario to offer growth projections for the Geospatial Analytics industry for the forecast period 2021-2028.
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 the latest analysis from Emergen Research. Some major factors driving the market revenue growth are growing use of artificial intelligence (AI) and machine learning (ML) in geospatial analysis systems, rapid urbanization, increasing number of government projects and advances in 5G communication technology.
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For example, in March 2018, Esri and Microsoft launched Geospatial AI in Azure. Rising demand for geospatial analytics from the military sector to optimize resource placement using predictive analytics is another factor contributing to the market revenue growth. Geospatial analysis is widely used in urban planning and smart cities. Additionally, geospatial data plays an important role in the development and deployment of 5G network infrastructure.
Some major companies in the market report include ESRI, Precisely, Oracle Corporation, Alteryx, Fugro NV, Hexagon AB, RMSI, SAP, Trimble Navigation Ltd. and Maxar Technologies.
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Emergen Research has segmented the global geospatial analytics market on the basis of component, solution, application, deployment type, and region.
Components Outlook (Revenue, USD Billion; 2018-2028)
Solution Outlook (Revenue, USD Billion; 2018-2028)
Geocoding and reverse geocoding
Data integration and ETL
Reports and visualization
Thematic mapping and spatial analysis
Others (DBMS and data storage software)
Application Outlook (Revenue, USD Billion; 2018-2028)
Medicine and public safety
Disaster risk reduction and management
Adaptation to climate change
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 the site
The report further examines the market in key regions of the world with respect to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of leading players in the regions. The report also covers the expansion plans undertaken by the companies in the regions under the regional analysis section.
Key market regions include:
Rest of EU
Rest of APAC
Rest of Latin America
Middle East and Africa
United Arab Emirates
Rest of MEA
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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 the June 2020 update.
In June 2020, Alteryx introduced an intelligence suite and analytics hub with the goal of supercharging the analytics automation process. This system enables organizations to digitally transform the analytical process to drive business and achieve societal results.
North America accounted for the largest revenue share contributor in 2020 and is expected to increase further during the forecast period. This can be attributed to the presence of key players in the region. The availability of advanced systems and modernized research facilities in the countries of the region is also driving the growth of the market. Rising demand for location-based services and real-time information is another driving force behind the market.
Key questions answered by the report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements in the market?
What are the key strategies adopted by the leading players in the Geospatial Analytics market?
What are the major product types and applications of the geospatial analytics industry?
What is the result of the SWOT analysis and Porter’s five forces analysis?
How is the Competitive Landscape of the Geospatial Analytics Market?
Who are the major players in the industry?
What is the growth rate of the industry in the coming years?
What will be the valuation of the geospatial analytics market by 2028?
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