Geospatial Analytics Market | Contrive Datum Insights

The global geospatial analytics market size was USD 56.88 billion in 2022 and is projected to grow from USD 63.61 billion in 2030 at a CAGR of 12.8% during the 2022-2030 period. The market is being driven by factors such as the increasing demand for location-based services, the growing need for spatial data for urban planning and resource management, and the increasing use of geospatial analytics in disaster management and emergency response.

The global geospatial analytics market is a rapidly growing industry that involves the use of location-based data to analyze and visualize trends, patterns, and relationships. This market includes software, hardware, and services related to geospatial analytics, and is used across a wide range of industries, including transportation, utilities, defense, agriculture, and healthcare.

North America is currently the largest market for geospatial analytics, followed by Europe and Asia-Pacific. Within North America, the United States is the largest market due to the presence of major technology companies and the high adoption of advanced analytics technologies in various industries.

Some of the key players in the global geospatial analytics market include ESRI, Trimble, Hexagon AB, Pitney Bowes, DigitalGlobe, Fugro N.V., Harris Corporation, RMSI, Maxar Technologies, and Bentley Systems. These companies are focusing on strategic partnerships and collaborations, acquisitions, and product launches to expand their market presence and offer innovative geospatial analytics solutions.

Market Dynamics

Driving Factors

There are several driving factors that are fueling the growth of the global geospatial analytics market, including:

Increasing use of geospatial analytics in disaster management and emergency response: Natural disasters such as hurricanes, earthquakes, and wildfires are becoming more frequent and severe. Geospatial analytics can help emergency responders and disaster management agencies to quickly assess damage, identify vulnerable areas, and coordinate rescue efforts.

Growing adoption of cloud-based geospatial analytics solutions: Cloud-based solutions offer several benefits such as scalability, flexibility, and cost-effectiveness. As a result, there is a growing trend towards adopting cloud-based geospatial analytics solutions, particularly among small and medium-sized businesses.

Restraining Factors

One of the major restraining factors for the global geospatial analytics market is the high cost of implementing and maintaining geospatial analytics solutions. Geospatial analytics requires a significant investment in hardware, software, and skilled personnel. This can be a significant barrier for small and medium-sized businesses that may not have the resources to invest in these technologies.

In addition, there is a shortage of skilled professionals in the field of geospatial analytics. As the demand for geospatial analytics grows, there is a need for more professionals with expertise in geospatial data analysis, GIS mapping, and remote sensing. This shortage of skilled workers can lead to increased competition for talent and higher labor costs.

Challenges Factors

There are several challenges that the global geospatial analytics market faces, including:

Data quality and availability: Geospatial analytics requires accurate and high-quality data to generate meaningful insights. However, data quality can be a challenge, especially in emerging markets or remote areas where data collection infrastructure is lacking. Additionally, data availability can be limited due to data ownership, privacy concerns, and legal regulations.

Legal and ethical considerations: Geospatial analytics can raise legal and ethical considerations, such as data privacy and security, intellectual property rights, and environmental impact. Organizations must be aware of these considerations and take appropriate measures to address them.

Opportunity Factors

The global geospatial analytics market presents several opportunities for businesses and organizations, including:

Real-time monitoring and analysis: Geospatial analytics can provide real-time monitoring and analysis of spatial data, allowing businesses and organizations to make informed decisions based on the latest information. This can be particularly useful in industries such as transportation, logistics, and emergency response, where real-time data can make a significant difference.

Decision-making support: Geospatial analytics can provide decision-making support across a wide range of industries, including transportation, urban planning, and environmental management. By providing accurate and timely information, geospatial analytics can help decision-makers to make informed choices that have a positive impact on their organizations and communities.

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Segmentation Analysis

Solution Outlook

Geospatial analytics data includes the information used by geospatial analytics solutions to generate insights and analysis. This may include satellite imagery, aerial photography, LiDAR data, and other types of geospatial data.

The hardware segment is expected to grow as more organizations invest in advanced data collection equipment such as drones and sensors. The data segment is also expected to grow as more data becomes available through satellite imagery, aerial photography, and other sources.

The geospatial analytics market offers a wide range of solutions to meet the diverse needs of organizations across industries. By leveraging the power of geospatial analytics software, services, hardware, and data, organizations can gain valuable insights and improve their operations and decision-making.

Component Outlook

The geospatial analytics market is composed of software, services, and hardware components. The software segment is expected to dominate the market due to the increasing demand for location-based analytics, real-time data analysis, and the integration of geospatial data with mainstream technologies like IoT, AI, and machine learning. The services segment is expected to grow at a higher rate due to the increasing demand for consulting, system integration, and support services. The hardware segment includes GPS devices, cameras, and other location-based hardware. However, the hardware segment is expected to grow at a slower rate due to the increasing availability of software-based solutions.

Regional Analysis

North America is expected to dominate the geospatial analytics market due to the presence of major players in the region and the increasing adoption of location-based analytics in various industries such as transportation, healthcare, and defense. The increasing use of geospatial analytics in disaster management and environmental monitoring is also expected to fuel the growth of the market in North America.

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Europe is expected to witness significant growth in the geospatial analytics market due to the increasing adoption of IoT, AI, and machine learning technologies in various industries such as agriculture, construction, and transportation. The increasing demand for real-time location-based insights is also expected to drive the growth of the market in Europe.

The Asia Pacific region is expected to witness significant growth in the geospatial analytics market due to the increasing adoption of cloud-based technologies, the growing use of mobile devices, and the increasing demand for location-based services in various industries such as transportation, agriculture, and construction. The increasing government initiatives for smart city development and digitalization are also expected to fuel the growth of the market in Asia Pacific.

Scope Of Report:

The Global Geospatial Analytics Market has been segmented into:

By Component

• Solution
• Service

By Solution

• Geocoding & Reverse Geocoding
• Data Integration & ETL
• Reporting & Visualization
• Thematic Mapping & Spatial Analysis
• Others

By Region

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Market Players 

The global geospatial analytics market is highly competitive and fragmented, with numerous players vying for market share. Some of the key companies in the market are:

• ORACLE CORPORATION
• SAP SE, BENTLEY SYSTEMS
• INCORPORATED, ESRI
• GENERAL ELECTRIC CO.
• HEXAGON AB (INTERGRAPH)
• TRIMBLE INC.
• TOMTOM INTERNATIONAL B.V.
• MDA CORPORATION
• FUGRO
• ALTERYX, INC.
• GOOGLE LLC

ESRI is a US-based software company that provides GIS software and solutions. The company's ArcGIS platform is widely used in the geospatial analytics market for mapping, spatial analysis, and location-based insights. Hexagon AB is a Swedish company that provides software, hardware, and services for geospatial analytics. The company's solutions are used in several industries, including agriculture, mining, and construction.

DigitalGlobe Inc. is a US-based company that provides high-resolution satellite imagery and location-based insights for several industries, including defense, agriculture, and mining. Oracle Corporation is a US-based software company that provides location-based analytics solutions for several industries, including transportation, retail, and finance.

Strategic Developments

In 2021, Trimble Inc. announced the acquisition of Cityworks, a US-based provider of GIS solutions for managing public infrastructure assets. In 2020, ESRI announced the acquisition of nFrames, a German-based company that provides 3D mapping and geospatial analytics solutions.

In 2020, Hexagon AB announced the acquisition of PAS Global, a US-based provider of software solutions for industrial control systems cybersecurity. In 2020, Bentley Systems Inc. announced the acquisition of NoteVault, a US-based provider of voice-based field automation for construction management.

In 2019, DigitalGlobe Inc. was acquired by Maxar Technologies, a US-based provider of satellite imagery and geospatial solutions. In 2018, SAP SE announced the acquisition of Qualtrics, a US-based provider of customer experience management and survey software solutions.

In 2018, Pitney Bowes Inc. announced the acquisition of Maponics, a US-based provider of geospatial data solutions for location-based analytics. In 2017, Oracle Corporation announced the acquisition of Moat, a US-based provider of digital advertising measurement solutions with a focus on location-based insights.