Geospatial Analytics Market

[325 Pages Report] The global market for Geospatial Analytics is projected to grow from USD 78.5 billion in 2023 to USD 141.9 billion by 2028, at a CAGR of 12.6% during the forecast period. Geospatial analytics represents the integrated way to gain insight and analyze geospatial information. Spatial data analysis involves the analysis of different kinds of relationships, patterns, and characteristics. Geospatial analytics applies high-tech techniques such as spatial statistics, spatial interpolation, and spatial modeling in analyzing and interpreting data. Geospatial analytics enables one to discover spatial patterns, detect clusters or outliers in space, and study spatial relationships by analyzing spatial data. This enables decision-making by providing actionable insights on various applications, such as urban planning, environmental management, transportation, and public health.

To know about the assumptions considered for the study, Request for Free Sample Report

To know about the assumptions considered for the study, download the pdf brochure

Market Dynamics

Driver: Growing demand for location intelligence

The growing demand for location intelligence is one of the driving factors for the advancement in geospatial analytics. Many organizations across various industries have recognized the huge value that spatial insights bring to their operations and decision-making processes. Location intelligence uses geospatial data with business data to better comprehend relationships, patterns, and trends within space. The increased access and availability of multiple sources of geospatial data include satellites, sensors, mobile devices, and social media platforms that further the possibilities for location intelligence within organizations. Integration and analysis to unlock multiple geospatial datasets enable an organization to extract useful information through data-driven decisions derived from spatial understanding. Unlocking multiple geospatial datasets through integration and analysis helps an organization identify valuable information through data-driven decisions led by spatial understanding. These factors have collectively influenced organizations to go in for geospatial analytics solutions that would assist them in competitive advantages for reaping the most benefits of location intelligence.

Restraint: High costs and budget constraints for small and medium-sized enterprises

Geospatial data creation and analysis are widely used in scientific fields, governments, and corporations, but the inherent confidentiality features of location data pose challenges for geospatial research and its societal applications. The increased use of GIS and related geospatial technologies has led to public concern over privacy, and government rules and regulations restrict data gathering, location sharing, usage of location-based information, and data storage. Several data privacy rules, including SPDI and GDPR, govern companies collecting users' location data. This limits the availability of user location data with organizations and may limit the adoption of these geospatial analytics solutions.

Opportunity: Ability to analyze location data for wide range of critical insights

Geospatial analytics allows organizations to analyze location-based data across a wide range of insights fundamental to driving major decisions across several aspects of business talent, operations, marketing, and risk management. Due to the growing proliferation of location-enabled mobile devices, the volume of geospatial data is rapidly growing. Hence, organizations are shifting toward analyzing geospatial data to find some useful patterns that might provide meaningful input for decision-making. Geospatial analytics could provide significant innovation in solving and helping to predict insights. The geospatial analytics market is currently experiencing considerable and steady growth. Organizations realize the power of geospatial technology and utilize it across the enterprise to drive better decision-making and competitive advantage.

Challenge: Cost and infrastructure requirements

The main challenge in geospatial analytics solution implementation is cost and infrastructure requirements. Geospatial analytics demand huge financial investments with strong infrastructural support for their effective application. Organizations must be prepared to invest in buying and updating hardware, software, and licenses. In addition, large-scale geospatial data demands high-performance computing capabilities, storage capacity, and networking infrastructure. Geospatial analytics can be an important source of innovation, helping solve problems and provide predictive insights. The geospatial analytics market is currently experiencing considerable and steady growth. Organizations recognize the value of geospatial technology and leverage it across the enterprise to foster better decision-making and gain a competitive advantage.

By technology, remote sensing to account for the largest market size during the forecast period

Geospatial analytics in remote sensing applies different advanced techniques for the effective extraction of meaningful insights from remotely sensed data. While integrating geospatial data with remote sensing imagery, geospatial analytics helps in the interpretation and analysis of Earth's surface characteristics and phenomena. It has been able to extract various valuable information related to land cover classification, assessment of vegetation health, change detection, and so on about spatial patterns. It is further refined by adding geospatial analytics, which added more tools to image preprocessing, spatial analysis, and visualization. This adds to a better understanding of features and processes on Earth.

By deployment, cloud to account for the largest market size during the forecast period

Geospatial analytics are highly deployed over the cloud segment to utilize the power of cloud computing for advanced geospatial services. Geospatial analytics make use of a combination of geospatial data combined with cloud infrastructure for extensive processing, storage, and analytics of spatial data. A cloud-based geospatial analytics platform provides real-time spatial data processing, distributed computing, and scalability on demand. This enables businesses and other organizations to handle large volumes of geospatial data in an efficient manner. Cloud-based geospatial analytics allow for geospatial visualization, spatial modeling, and spatial data mining to enable users to get deeper insights, make evidence-based decisions, and create innovative geospatial applications for a wide variety of domains, including urban planning, transportation, logistics, and environmental monitoring.

Geospatial Analytics Market Ecosystem

The geospatial analytics market ecosystem comprises of solution providers, service providers, technology providers and tool providers.

By offering, solutions to account for the largest market size during the forecast period

Geospatial analytics solutions will leverage complex capabilities while analyzing and interpreting spatial data in facilitating informed organizational decisions and optimizations. These solutions include tools and techniques for the processing, visualizing, modeling, and predictive analysis of spatial data. The applications of geospatial analytics solutions include urban planning, transportation, and environmental management to agriculture, public health, and natural resource management. It allows users to derive insights from their data through a deeper understanding of trends and anomalies, which helps them arrive at better data-driven decisions. Geospatial analytics solutions will play a crucial role in realizing their full potential about location-based data, innovating many industries by making better decisions.

North America to account for the largest market size during the forecast period

North America to dominate the geospatial analytics market share. Geospatial analytics is highly affecting the region of North America, as it creates innovation, thus transforming industries in every part of the region. By harnessing the power of location-based data, geospatial analytics enables organizations to make smart decisions, optimize operations, and drive economic growth. Geospatial analytics is changing the perspective of urban planning, transport, agriculture, environmental management, and public safety across North America. It helps in effective infrastructure development, better preparedness for and responses to disaster situations, resource management in a sustainable manner, and effective decision-making for businesses and governments. Geospatial analytics enables North America to unlock spatial insights, gain operational efficiency, and build more intelligent and resilient communities by offering data-driven solutions with innovative applications.

Key Market Players

The Geospatial analytics vendors have implemented various types of organic and inorganic growth strategies, such as new product launches, product upgradations, partnerships and agreements, business expansions, and mergers and acquisitions to strengthen their offerings in the market. The major vendors in the global market for Geospatial analytics Esri (US), Precisely (US), Caliper Corporation (US), Blue Marble Geographic (US), Google (US), Alteryx (US), Blue Sky Analytics (Netherlands), HexagonAB (Switzerland), TomTom (Netherlands), Trimble (US), Maxar Technologies (US), RMSI (India), Maplarge (US), General Electric (US), Bentley Systems (US), Fugro (Netherlands), Orbital Insights (US), Mapidea (Portugal), Geospin (Germany), Sparkgeo (Canada), Orbica (New Zealand), Descartes Lab (US), Skymap Global (Singapore), ReMOT Technologies (US), CARTO (US), Pasco Corporation (Japan), Geoviet Consulting (Vietnam), Mandalay Technology (Myanmar), GIS Co. Ltd. (Thailand), Suntac Technologies (Myanmar), Geomatic Consulting International (Vietnam), AAM, A Woolpert Company (Australia), Mappointasia (Thailand), Vegastar Technology (Vietnam), and HERE Technologies (Netherlands).

Want to explore hidden markets that can drive new revenue in Geospatial Analytics Market?

Unlock Insights

Click on image to enlarge

Scope of the Report

This research report categorizes the Geospatial analytics market based on Offering, Technology, Vertical, and Region.

By Offering:

• Solutions
  • By Type:
    • Geocoding and Reverse Geocoding
    • Data Integration and Etl
    • Reporting and Visualization
    • Thematic Mapping and Spatial Analysis
    • Others Solutions
  • By Deployment:
    • Cloud
    • On-premises
• Services
  • Consulting Services
  • Deployment & Integration
  • Training, Support, and Maintenance

By Technology:

• Remote Sensing
• GIS
• GPS
• Other Technologies

By Vertical:

• Energy & Utility
• Government
• Defense & Intelligence
• Banking, Financial Services, and Insurance (Bfsi)
• Real estate & Construction
• Healthcare & Life Sciences
• Mining & Natural Resources
• Security
• Logistics & Supply Chain
• Automotive & Transportation
• Agriculture
• Other Verticals

By Region:

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Thailand
  • Australia & New Zealand
  • Myanmar
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • UAE
  • Kingdom of Saudi Arabia
  • Israel
  • Turkey
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

Recent Developments:

• In May 2023, Google launched Geospatial Creator, which empowers individuals to swiftly create, visualize, and share immersive and augmented reality (AR) content using Unity and Adobe Aero.
• In February 2023, Maxar Technologies received an extension to its contract with the U.S. Army to continue delivering 3D geospatial data for the development of immersive digital environments.
• In July 2022, TomTom collaborated with the Dutch Ministry of Infrastructure and Water Management and five other partners to offer Dutch drivers better and more thorough safety alerts of traffic services.
• In June 2022, Hexagon AB announced the next generation Leica BLK360, providing speed and efficiency and substantially improving reality capturing. Users can travel rapidly and uninterrupted around any environment while viewing and sharing the data as it is being captured, giving them access to real-time updates.
• In February 2021, Trimble and Esri announced a collaboration by integrating the Esri Geospatial Cloud platform into Trimble’s Connected Forest solutions used by both forest owners and product companies. The integration added location intelligence technology designed to transform workflows and provide greater visibility, traceability, and efficiency for the forest industry.
• In June 2020, Maxar Technologies launched the Multi-Domain Analytics System for the US Department of Homeland Security.

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst