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(Wireless-NewsWire.Com, May 14, 2019 ) The global market is projected to witness a massive growth during the forecast period, majorly driven by the increasing penetration of Internet of Things (IoT), integration of geospatial technology with mainstream technologies, and significant advancements in geospatial analytics with the introduction of artificial intelligence and big data.
With the introduction of artificial intelligence and big data in the market, geospatial analytics can provide better and less expensive geospatial data to organizations across the globe. These solutions also provide additional benefits such as the ability to serve on-demand analytics, increased accessibility and ability to analyze complex and large datasets, and analyzing multiple types of geospatial information through cloud-based geospatial analytics.
[159 Pages Report] The geospatial analytics market size is estimated to be USD 35.31 Billion in 2017 and is projected to reach USD 86.32 Billion by 2023, at a CAGR of 16.3% from 2018 to 2023.
Key players operating in the geospatial analytics market include:
Alteryx (US)
DigitalGlobe (US)
Fugro N.V. (Netherlands)
Hexagon (Sweden)
RMSI (India)
SAP (Germany)
Trimble Navigation(US)
Maxar Technologies (Canada)
MapLarge (US)
Harris Corporation (US)
Bentley Systems (US)
ESRI (US)
General Electric (US)
Pitney Bowes (US)
Oracle (US)
Google (US)
North America is estimated to lead the geospatial analytics market in 2018. The growth of the geospatial analytics market in North America is primarily driven by the presence of key players in this region, such as Alteryx, Inc. (US), DigitalGlobe (US), Trimble Navigation Ltd. (US), Harris Corporation (US), ESRI (US), Pitney Bowes (US), and Google (US) which offer geospatial analytics software & solutions. The high adoption of latest technologies such as cloud computing, big data, Internet of Things (IoT), Artificial Intelligence (AI), and business intelligence tools is one of the significant factors driving the geospatial analytics market in the North America region.
The surveying segment is estimated to lead the geospatial analytics market in 2018. With the advancements in sensors, positioning, and other technologies, a huge amount of geospatial data is available. Surveyors can rely on geospatial analytics solutions to evaluate such data and find useful insights in real time. Geospatial solutions are used for surveying in infrastructure development, mining, defense & government, agriculture, and other sectors to utilize available resources optimally. Hence, the surveying segment is expected to show considerable growth during the forecast period.
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