Geospatial Analytics Market Expected to Reach USD 209.47 Billion by 2030 | Growing with 18.8% CAGR

Increase in demand for AI-based GIS solutions, rise in inclination toward adopting GIS software in smart cities development drives the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, July 12, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Geospatial Analytics Market Expected to Reach USD 209.47 Billion by 2030 | Growing with 18.8% CAGR ." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

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.

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Based on component, the solution segment accounted for the major share in 2020, holding more than three-fifths of the global market. The service segment, on the other hand, would grow at the fastest CAGR of 14.3% throughout the forecast period.

Based on deployment mode, the on-premise segment generated the highest share in 2020, accounting for nearly three-fifths of the global geospatial analytics industry. The cloud segment, however, is projected to manifest the fastest CAGR of 14.5% from 2021 to 2030.

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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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Covid-19 Scenario-

● Various governmental bodies are adopting geospatial analytics to gain real-time scenarios in terms of tracking the spread of the coronavirus and getting an accurate and constant updating of infected patients, which in turn has impacted the global geospatial analytics market positively.

●This trend is quite like to continue until the pandemic is completely over.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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