New York, Sept. 16, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Geospatial Analytics Market by Component, Solution, Service, Type, Technology, Deployment Mode, Organization Size, Application, Vertical, Region – Global Forecast to 2025” – https://www.reportlinker.com/p04648405/?utm_source=GNW
The geospatial analyticsmarket size is projected to grow from USD 52.6billion in 2020 to USD 96.3billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.9% during the forecast period. The major factors drivingthe growth of the geospatial analyticsmarket include the increasing number of AI and ML based GIS solutions, development of smart cities and urbanization, increased deployment of IoT sensors across locations, and advancement of bid data analyticsfor organizations by improving the workflow.
Based on component, the solutions segment leads the geospatial analytics market during the forecast period
The geospatial analytics market is segmented into solutions and services.The geospatial solutions included in this segment are geocoding and reverse geocoding, data integration and ETL, reporting and visualization, thematic mapping and spatial analysis, and others (Data Base Management System (DBMS)and data storage software).
The others include DBMS and data storage software.These solutions help enterprises to localize, analyze, and act on the changing business conditions and trends.
Companies have started to invest in geospatial analytics for increasing agility and overall operational productivity, understanding business trends in a better way, and reducing operational costs.
Based on solutions, data integration and ETL is estimated to grow at a higher CAGR during the forecast period
The geospatial analytics market solutions segment is further segmenetd into geocoding and reversegeocoding, data integration and ETL, reporting and visualization, thematic mapping and spatial analysis,and others (DBMS and data storage software). The data integration and ETL to estimated to grow at a higher CAGR during the forecast period.The structured and unstructured data generated needs to be integrated in a way that it can be restored whenever required by users. The data integration and ETL solution is used to carry out these associated tasks.The data obtained can be linked to location data and analyzed with the help of location analytics. ETL helps in extracting geographic data from any source system, transforming it into a format based on users’ needs, and loading it in target systems.
Based on application, the surveying segment to lead the market during the forecast period
The global geospatial analytics market by application is segmented into surveying, medicine and public safety,disaster risk reduction and management, climate change adaptation, and others (supply chain planning and optimization, sales and marketing optimization, predictive assetmanagement, and inventory management). Mapping and surveying play an important role in urbanplanning, infrastructure development, project planning, land development, and facility management.
Based on vertical, automotive segment grows at a higher CAGR during the forecast period
The global geospatial analytics market by vertical is segmented into business, automotive, utility and communication,government, defense and intelligence, natural resources, and others (sports,education, tourism, media and entertainment, travel and logistics, and agriculture).Automotive manufacturers can use geospatial analytical tools to monitor consumer trends around the globe.
Due to the development of advanced driver assistant systems and connected cars, the demand for geospatial analytics from the automotive segment is expected to grow rapidly in the upcoming years.
North Americato lead the market share in 2020
North America is one of the most prominent regions in the geospatial analytics market.The majority of players are based in this region.
In North America, geospatial analytics technologies are extensively used in applications such as construction, agriculture, transportation, and utilities. The demand for real-time information and location-based services is expected to increase in the coming years, owing to the increase in the adoption of mobile GIS technologies that will have a positive impact on the geospatial analytics market in this region.Due to the growing demand for niche technologies, such as AI, Internet of Things (IoT), big data, ML, and geospatial, the adoption of geospatial analytics is a must for developed and developing countries.
• By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
• By Designation: C-level – 38%, Directors – 30%,and Others – 32%
• By Region: North America – 40%,Europe– 15%, APAC– 35%,MEA – 5%, Latin America– 5%.
Some prominent players profiled in the study includeESRI (US), Precisely (US), Oracle Corporation (US), Alteryx, (US), Fugro N.V. (Netherlands), Hexagon AB (Sweden), RMSI (India), SAP (Germany), Trimble Navigation Ltd. (US), Maxar Technologies (US), MapLarge (US), L3Harris Corporation (US), Bentley Systems (US), General Electric (US), Google (US), TomTom (Netherlands), Atkins (UK), AAM Pty (Australia), Critigen (US), Orbital Insights (US), Autodesk (US), Descartes Labs (US), ZillionInfo (US), Geospin (Germany), and Mapidea (Portugal).
The market studycovers geospatial analyticsmarket across different segments.It aims at estimating the market size and the growth potential of this market across different segments, such as components, by solutions, by services, types,technologies, deployment modes, organization size, applications, verticals, and regions.
The solutionssegment is further segmented into geocoding and reverse geocoding, data integration and ETL, reportingand visualization, thematic mapping and spatial analysis, and others ((DBMS) and data storage software).The services segment is further classified into consulting, integration and deployment, and support andmaintenance. The type segment is further segmented into surface and field analytics, network and location analytics, geovisualization, and others (geocomputational methods, including agent-based modeling,artificial neural networks and evolutionary computing, map generalization, map abstraction, and digitalterrain analysis). The technology is further categorized into remote sensing, GIS, GPS, and others (Internetmapping technologies). The deployment mode segment is bifurcated into cloud and on-premises. Theorganization size segment is segmented into SMEs and large enterprises. Application areas includesurveying, medicine and public safety, disaster risk reduction and management, and climate changeadaptation, and others (supply chain planning and optimization, sales and marketing optimization,predictive asset management, inventory management). Verticals of geospatial analytics are segmentedinto business, automotive, utility and communication, government, defense and intelligence, naturalresources, and others (sports, logistics, education, and tourism, media and entertainment, travel andlogistics, and agriculture). The regional analysis of the geospatial analytics market covers North America,Europe, APAC, MEA, and Latin America. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall geospatial analyticsmarket and its segments.This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p04648405/?utm_source=GNW
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