Market Research Report
Geospatial Solutions - Global Market Outlook (2018-2027)
|Geospatial Solutions - Global Market Outlook (2018-2027)|
Published: September 1, 2019
Stratistics Market Research Consulting
Content info: 178 Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Geospatial Solutions market accounted for $207.55 billion in 2018 and is expected to reach $741.65 billion by 2027 growing at a CAGR of 15.2% during the forecast period. Some of the key factors such as rising use of Lbs, digital revolution such as AI, automation, cloud, IoT, and miniaturization of sensors and advancements in technologies with the introduction big data analytics are driving the market growth. However, limited availability of skilled staff and regulations and legal issues act as the restraining factors for the market growth. Moreover, the development of 4D GIS software and development of the GIS industry using new and upcoming technologies such as 3D, AR, and VR will provide ample opportunities for the growth of the market.
Geospatial solutions involve setting up geospatial data models and solutions along with a wide range of domains. They facilitate a high quality, productive workflow and data exchange to drive efficiency, productivity, safety by integrating sensors, field applications, real-time communications, field and back-office processing, modelling, and analytics. The result is rich accurate data that can be transformed into the intelligence required to make decisions.
By technology, earth observation segment observes the planet for changes in all things, from temperature to forestation to ice sheet inclusion. This is possible through satellite imagery, Light Detection and Ranging (LiDAR), and other related advancements. With the development of these advancements, this specific segment market is additionally expected to grow. By geography, North America is going to have a lucrative growth during the forecast period. Increasing integration of these technologies into mainline innovations is probably a key component driving the market in North America. This, along with the easy availability of geospatial innovation in developed nations such as the US and Canada, will surely positively boost the market in the region.
Some of the key players in Geospatial Solutions market include Trimble, Topcon Positioning Systems, Telnav, Snc-Lavalin, Pitney Bowes, Oracle, Microsoft, Maxar Technologies, IBM, Hexagon Geospatial, Here Technologies, Harris Corporation, Google, Geospatial Corporation, Bentley, Baidu, Apple, and Amazon.