Market Research Report
Geospatial Analytics Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||393763|
|Published||Content info||143 Pages
Delivery time: 2-3 business days
|Geospatial Analytics Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: August 1, 2019||Content info: 143 Pages||
The geospatial analytics market was valued at USD 19.59 billion in 2018 and is expected to reach a value of USD 29.28 billion by 2024, at a CAGR of 7.2%, over the forecast period (2019-2024). Geospatial analysis refers to a broad range of activities, which emphasize on applying various techniques to data, comprising of geographical or space-related characteristics.
The geospatial analysis uses this data to build infrastructure, graphs and blueprints, statistics, and cartograms, making complex relationships understandable. It collects information, display of images, geographical coordinates, etc. It is used in monitoring the climate and weather, helps retail stores in planning their logistics transportation, human population forecasting, and others. This report segments the market by Type (Surface Analysis, Network Analysis, Geovisualization) End-user Industry(Agriculture, Utility and Communication, Defense and Intelligence, Government, Natural Resources) and Geography.
Defense and Intelligence has Seen the Maximum Application in Geospatial Analytics Market
Asia-Pacific to Have the Highest Growth in Geospatial Analytics Market
Chinese government is investing in developing a spaceborne-airborne observation system to improve the national, regional, and global ability in responding to emergencies, and to enhance human health, security, and well-being.
The initiative from the government is also driving the growth for the geospatial analytics growth in the country. In 2018, the Chinese government initiated its first comprehensive survey of geographical conditions. It is going to be processed on the geographic investigation to report on the country's overall situation and data on land and soil, water, and agriculture, which serves as a firsthand reference for policymaking.
The emerging trend of mobility as a service in the logistics industry is growing significantly in India. According to Morgan Stanley, it is expected that 35% of every mile traveled in India will be covered by shared miles. This is one of the major driving opportunities for the new business models in the mobility businesses, along with an ongoing massive transformation in terms of electrification, shared, and connectivity.
Also, Indonesian companies are developing new opportunities for geospatial technologies in the country, by using advanced technologies, like LiDAR. For instance, Terra Drone Indonesia, a group company of Terra Drone Corporation, demonstrated its drone surveying and mapping services, based on LiDAR, for the construction companies.
Key Market Players are General Electric (GE), ESRI Inc., MDA Corporation, Hexagon AB, Trimble Geospatial, Bentley Systems, Inc., and others. The market is led by these giants and they dominate the market. Hence the market is consolidated. Therefore, market concentration is high.