Market Research Report
Global Geospatial Analytics Market Report and Insights on COVID-19 Impact, By Component, By Application, By Technology, and By Region- Size, Share, and Predictions, 2021-2027
|Global Geospatial Analytics Market Report and Insights on COVID-19 Impact, By Component, By Application, By Technology, and By Region- Size, Share, and Predictions, 2021-2027|
Published: April 1, 2021
AnalystView Market Insights
Content info: 286 Pages
Delivery time: 2-3 business days
By 2020, the value of Global Geospatial Analytics Market was estimated at USD 51.8 billion, growing with 11.8% CAGR during the forecast period, 2021-2027.
In Geospatial analytics, geographical data and imagery are gathered from earth observation, GIS, GNSS & positioning, 3D scanning, satellite images, location sensors, social media, and mobile devices. It strengthens data visualization and helps identification of relationships among people and places. Insights from geospatial analytics help organizations improve decision-making and formulate targeted marketing strategies to amplify lead generation. Advancements in artificial intelligence, machine learning, and big data technologies are driving factors of the geospatial analytics market.
The principal aim of geospatial analytics is to combine geographic information system (GIS) technology with various scientific techniques to process, transform, and validate helpful information for business processes. Besides, the manufacturing and automotive industries are adopting geospatial analytics to provide more reliable communication between organizations and people. Associated benefits such as its ability to capture & process different services, processes customer moves, and modifies existing orders will support the demand.
The major growth of the Geospatial Analytics Market is driven by factors such as the growing number of AI and ML-based GIS solutions, growing deployment of IoT sensors across locations, rising development of smart cities, and increasing rate of urbanization, technological advancements in big data analytics supporting the growth of the market. Furthermore, the global geospatial analytics market growth is driven by and upsurge in demand for AI-based GIS solutions, coupled with the use of satellite monitoring to manage the COVID-19 spread. Factors which may pull back the growth of Geospatial Analytics industry include its high cost, strict regulatory norms, and lack of comprehensive government policies.
The scope of this report encompasses the market by its prime segments, which include the following: