Geospatial Market Size to Reach USD 211.5835 billion, With an 12.70% CAGR by 2030 – Report by Market Research Future (MRFR)

Overview:

Market Research Future (MRFR) has conducted an extensive research study titled Geospatial Market, By Type, By Technology, By End-users – Forecast 2030, revealing highly encouraging projections for the market. According to the report, the geospatial market is poised to reach an impressive valuation of approximately USD 211.5835 Billion by the end of 2030. Furthermore, experts anticipate a robust compound annual growth rate (CAGR) of over 12.70% throughout the assessment period, showcasing a flourishing trajectory for the industry.

Key Players 

Eminent market players profiled in the global geospatial market report include-

• Bentley Systems, Inc. (U.S.)
• DigitalGlobe, Inc. (U.S.)
• General Electric Co. (U.S.)
• Harris Corporation (U.S.)
• Dettwiler & Associates, Ltd. (Canada)
• ESRI (U.S.)
• Hexagon AB (Sweden)
• Fugro N.V. (Netherlands)
• MacDonald, Trimble Navigation LTD. (U.S.)
• RMSI (India)

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Segmentation:

The global geospatial market is bifurcated based on end users, technology, and type. 

By type, the geospatial market is segmented into Network Analytics, Surface Analytics, and Geo-visualization

By technology, the geospatial market is segmented into GPS, Remote Sensing, and GIS. 

By end users, the geospatial market is segmented into Automotive, Government, and Defense & Intelligence

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COVID-19 Analysis 

The global market was minimally impacted by the COVID-19 pandemic, although certain companies experienced reduced demand for their products and services. The stringent lockdown measures and disruptions in import-export operations imposed by various governments hindered the growth of transportation and logistics, manufacturing, and retail sectors. However, industries such as healthcare & life sciences, energy, and utilities rapidly embraced geospatial and location-based platforms and services. Governments worldwide are leveraging geospatial data and technology to address critical COVID-19 concerns, although each country faces unique challenges that affect their response efforts. Location information and geospatial technologies are assisting healthcare organizations and governments in the distribution of medical supplies, medications, vaccines, and analysis of virus spread in specific areas. Esri’s ArcGIS Solutions, introduced in December 2020, provide enterprises and healthcare communities with tools to manage vaccine distribution plans and track key indicators. The long-term growth of the global market will be primarily driven by increased adoption of GIS and geolocation technology in healthcare, retail, and military sectors. Maps and GIS are among the technologies anticipated to experience exponential growth in the coming years, as they are being used to understand and analyze the source and spread patterns of COVID-19 through comparative studies based on geospatial analysis.

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Regional Analysis:

Regional analysis of the geospatial market reveals significant growth and adoption of geospatial technologies across different regions.

1. North America: North America holds a prominent position in the geospatial market. The United States and Canada have a strong presence of key market players, advanced infrastructure, and a high level of technological advancements. The region witnesses substantial demand for geospatial solutions in sectors such as government, defense, transportation, and utilities.
2. Europe: Europe is another key region in the geospatial market. Countries like the United Kingdom, Germany, France, and the Netherlands exhibit a robust adoption of geospatial technologies across multiple industries. The European Union’s initiatives and regulations promoting the use of geospatial data and technologies further contribute to market growth in this region.
3. Asia Pacific: The Asia Pacific region showcases tremendous potential for geospatial market growth. Rapid urbanization, infrastructural developments, and a burgeoning population drive the demand for geospatial solutions in countries like China, India, Japan, and South Korea. Additionally, the region’s focus on smart city initiatives and digital transformation in various sectors fuels the adoption of geospatial technologies.
4. Latin America: Latin America is witnessing a gradual increase in the adoption of geospatial technologies. Countries like Brazil, Mexico, and Argentina are investing in infrastructure development and are utilizing geospatial solutions in sectors such as agriculture, mining, and natural resource management. The region offers growth opportunities for market players due to rising awareness and government initiatives supporting geospatial applications.
5. Middle East and Africa: The Middle East and Africa region are experiencing a steady growth in the geospatial market. Governments in countries like the United Arab Emirates, Saudi Arabia, and South Africa are incorporating geospatial technologies in various sectors such as urban planning, agriculture, and oil and gas. The region’s focus on digital transformation and smart city projects contributes to the adoption of geospatial solutions.

Browse the Japanese language version of the Geospatial Market

Overall, the geospatial market exhibits a global presence, with North America and Europe leading in terms of adoption and market share. However, the Asia Pacific region is emerging as a significant growth driver due to its rapid technological advancements and increasing investment in geospatial applications. Latin America and the Middle East and Africa regions also offer potential growth opportunities, driven by infrastructure development and government initiatives.

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