27-Nov-2019: The global geospatial analytics
market size is expected to reach USD 134,479.7 million by
2025, registering a CAGR of 15.0% from 2019 to 2025, according to a new study
conducted by Grand View Research, Inc. Numerous innovations and advancements in
the drone technology and increasing deployment of Unmanned Aerial Vehicles
(UAVs) for remotely monitoring and gathering a large number of location data
with minimal human intervention are likely to unfold new opportunities for
market growth. Additionally, the increasing use of GPS-enabled smartphones and
devices is also anticipated to drive market growth.
Increasing smart
city initiatives have resulted in the growing need for innovative technologies
for use in 3D urban mapping; monitoring and mapping natural resources,
agriculture, and utilities; and disaster management. In case of natural
disasters, location-based analytics enables decision makers to take suitable
actions. Moreover, major oil & gas companies across the globe are
increasingly deploying geospatial analytics solutions to discover potential
crude oil and natural gas deposits and to monitor their vast pipeline network.
The use of
geospatial technologies in the automotive industry is increasing owing to the
growing safety concerns among passengers. According to data released by the
U.S. Census Bureau, about 85.7 percent of the U.S. employees above 16 years of
age commute to work in a van, car, or truck, either by driving alone or via
carpooling. With around 125 million people traveling by road every day, the
U.S. transportation system faces numerous challenges such as congested highways
and fatal vehicle collisions.
As per the National
Highway Traffic Safety Administration, it is estimated that on an average, 102
people die from vehicle accidents every day. In an attempt to address this,
automotive manufacturers are focusing on implementing technologies such as IoT
and location-based services in vehicles to make driving safer and easier. The
commercialization of upcoming autonomous vehicles also heavily relies on the
integration of Geographic Information Science (GIS) and advanced geospatial
technology.
In
depth research report on Geospatial Analytics Market
Further key findings from the study suggest:
·
The service segment is anticipated to emerge as the
fastest-growing component segment over the forecast period owing to the
increasing demand for deployment, training, and support services by government and
public safety agencies
·
The network & location analytics segment is anticipated
to gain traction owing to the increasing use of network & location
analytics systems by companies for analyzing buying behavior and foot traffic
patterns as well as for studying behavior patterns in a brick-and-mortar
environment
·
The military intelligence application segment is expected to
witness the highest growth over the forecast period owing to the rising
adoption of UAVs and increasing number of remote sensing satellites
·
Asia Pacific is expected to register the highest CAGR from
2019 to 2025. Numerous smart city initiatives such as the ASEAN Smart Cities
Initiative are anticipated to fuel the demand for geospatial analytics software
in the region
·
Key players operating in the geospatial analytics market
include Alteryx, Inc., DigitalGlobe, Fugro N.V., Hexagon AB, RMSI, SAP SE,
Trimble Inc., Maxar Technologies Inc., MapLarge, Harris Corporation, Bentley
Systems Incorporated, ESRI, General Electric Company, Oracle Corporation, and
Google LLC.
Grand View Research
has segmented the global geospatial analytics market based on component, type,
application, and region:
Geospatial Analytics Component Outlook (Revenue, USD Million,
2014 - 2025)
·
Software
·
Service
Geospatial Analytics Type Outlook (Revenue, USD Million, 2014
- 2025)
·
Surface & Field Analytics
·
Network & Location Analytics
·
Geovisualization
·
Others
Geospatial Analytics Application Outlook (Revenue, USD
Million, 2014 - 2025)
·
Surveying
·
Medicine & Public Safety
·
Military Intelligence
·
Disaster Risk Reduction & Management
·
Marketing Management
·
Climate Change Adaption (CCA)
·
Urban Planning
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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