Global Geovisualization Market - 2023-2030

Market Overview

Global Geovisualization Market reached US$ 9.1 billion in 2022 and is expected to reach US$ 22.7 billion by 2030 growing with a CAGR of 12.2% during the forecast period 2023-2030.

Geovisualization is expected to show significant growth in the forecast period due to the availability of geospatial data, the importance of location intelligence, government initiatives, and the emergence of cloud-based geovisualization services. Furthermore, the wide range of available sensors and devices, the abundance of open source and proprietary software tools, and the widely available geospatial data have all contributed to the market growth of geovisualizarion.

U.S. holds more than 86.1% of the share in the North America geovisualization market due to the presence of top key players in the regions and growing investment in building robust research and development ecosystems focused on geospatial technologies. Furthermore, U.S. has a diverse range of industries that heavily rely on geovisualization for their operations and decision-making processes. Sectors including urban planning, transportation, environmental management, defense, and emergency response utilize geospatial data and visualization extensively.

Market Dynamics

Growing Demand For GIS Solutions Across Various Industries

The growing demand for GIS solutions is boosting the geovisualization market by increasing the need for effective visualization, analysis, and interpretation of geospatial data. Geovisualization plays a vital role in enhancing the value and usability of GIS solutions, empowering organizations to leverage spatial information for better decision-making, planning, and resource management.

Furthermore, the expanding application of GIS solutions across industries, including urban planning, transportation, utilities, healthcare, retail, and agriculture, among others. As these industries increasingly rely on GIS for spatial data management and analysis, the need for geovisualization tools and techniques becomes more prominent. Geovisualization helps stakeholders across these industries understand spatial data intuitively, enabling them to derive valuable insights and make informed decisions.

Technological Advancements

Technological advancements have facilitated the collection of real-time geospatial data through IoT devices and sensors. The availability of real-time data, such as weather conditions, traffic patterns, and environmental measurements, has increased the demand for geovisualization solutions that can effectively visualize and analyze this dynamic information. Geovisualization tools have evolved to handle streaming data and provide real-time visualizations, enabling organizations to make timely decisions based on up-to-date information.

Key players are also investing in the market by adopting various growth strategies such as product launches, acquisitions and collaboration. For instance, In July 2021, Dataminr announced the acquisition of WatchKeeper, a company focused on real-time data geovisualization platforms for corporate enterprises.

High Cost of The Technology

Implementing geovisualization technologies typically requires a significant initial investment. This includes the cost of hardware, software licenses, data acquisition, and infrastructure setup. Small and medium-sized businesses, in particular, may find it challenging to allocate the necessary funds for these upfront costs, which can limit their adoption of geovisualization solutions.

Furthermore, geovisualization software often involves licensing or subscription fees, especially for advanced or specialized tools. These costs can be substantial, particularly for organizations that require multiple licenses or access to specific features or modules. Ongoing subscription fees can also add to the financial burden, making it challenging for some businesses to sustain long-term utilization of geovisualization technologies.

COVID-19 Impact Analysis

The COVID-19 outbreak has affected various industries and also created growth opportunities for their growth. Geovisualization industry has experienced both positive and negative impacts on the market. For instance, in public health, geovisualization tracks the number of confirmed cases, hospitalizations, and deaths by location. The information is crucial in determining the areas that need the most support, such as increasing the number of hospital beds or providing resources to local health departments. Thus, COVID-19 has created opportunities for the geovisualization market, leading to the increased entry of new players in the market.

Segment Analysis

The global geovisualization market is segmented based on component, deployment model, application, end-user and region.

Rising Natural Disasters, Environmental Hazards, And Man-Made Events Across The Globe

The risk management application segment holds a dominating position in the global geovisualization market covering more than 24.5% globally. Natural disaster has increased in the past decade. Some natural disasters were record-breaking in terms of power and damage. In 2021, the Emergency Event Database (EM-DAT) recorded around 432 disastrous events related to natural hazards globally. These accounted for 10,492 deaths, affected nearly 101.8 million people and caused approximately 252.1 billion US$ of economic losses.

The growing natural disaster has increased investments in risk management services, creating opportunities for the geoviusalization market. The technology can clearly and concisely represent these risks' impact, helping organizations make informed decisions regarding risk mitigation strategies. Furthermore, geovisualization can provide real-time updates during emergencies, allowing for rapid decision-making and response; this results in more efficient and effective risk management, reducing the impact of disasters and contributing to the overall growth of the global geovisualization market.

Geographical Analysis

Asia-Pacific rules the market as a result of growing infrastructural investments and growing GIS technology in the region

Asia-Pacific holds a significant share in the global geovisualization market and countries like India, China and Japan hold more than 66.6% share at a regional level. One of India's main drivers of GIS demand is the country's rapid urbanization. As more and more people move to cities, the need for effective urban planning and management increases.

GIS technology can create detailed maps of urban areas, which can be used to plan and manage infrastructure, such as roads, water supply systems, and public transportation. The technology also enables the analysis of population density and land use patterns, which can be used to make informed decisions about future development projects.

Companies are also investing in the region. For instance, in 2021, Esri India, a growing Geographic Information System (GIS) solutions provider, announced the launch of its new technology Indo ArcGIS to address the need for ready-to-use GIS-based solutions and geospatial content for GIS users in India.

Competitive Landscape

The major global players include ESRI, Oracle Corporation, Alteryx, Inc, Fugro N.V., Hexagon AB, RMSI Pvt. Ltd, SAP SE, Trimble Inc, L3Harris Technologies, General Electric Company, TomTom N.V, Google LLC.

Why Purchase the Report?

• To visualize the global geovisualization market segmentation based on component, deployment model, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of geovisualization market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global geovisualization market report would provide approximately 69 tables, 73 figures and 200 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies