Wilmington, New Castle, Delaware, Feb. 07, 2025 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Geospatial Analytics Market by Component (Solution and Service), Deployment Mode (On-premise, Cloud), Organization Size (Large enterprises, SMEs), Type (Surface and Field Analytics, Network and Location Analytics, Geovisualization, and Others), and Industry Vertical (Mining and Manufacturing, Government, Environmental Monitoring, Defence and Security, Engineering and Construction, Insurance, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the geospatial analytics market was valued at $85.5 billion in 2023, and is estimated to reach $220.2 billion by 2033, growing at a CAGR of 9.6% from 2024 to 2033.
Prime determinants of growth
The key factors driving the growth of the global geospatial analytics market include surge in demand for AI-based GIS solutions and increase in demand for geospatial analytics in smart cities’ development and urban planning. In addition, integration of GIS with mainstream technologies for business intelligence positively impacts the growth of the market. However, high cost of geospatial analytics, regulatory issues, and lack of comprehensive government policies regarding geospatial analytics are expected to hamper the market growth.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $85.5 billion |
| Market Size in 2033 | $220.2 billion |
| CAGR | 9.6% |
| No. of Pages in Report | 199 |
| Segments Covered | Component, Deployment Model, Type, Organization Size, Industry Vertical, and Region. |
| Drivers | Surge in demand for AI-based GIS solutions |
| Increase in demand for GIS software in smart cities development and urban planning | |
| Use of satellite monitoring to control the spread of COVID-19 | |
| Opportunities | Adoption of advanced technologies such as AR, VR, and IoT for GIS |
| Emerging technologies such as geospatial AI | |
| Development of 4D GIS software | |
| Restraint | High cost of GIS solution |
| Regulatory issues and lack of comprehensive government policies pertaining to geospatial analytics |
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The solution segment is expected to witness rapid growth throughout the forecast period.
By component, the solution segment held the highest market share in 2023, accounting for more than half of the global geospatial Analytics market revenue and is expected to retain its dominance throughout the forecast period, owing to rise in the need for geographic imaging among professionals to process massive volume of geospatial data every single day boosts the adoption of geospatial solutions, which are designed for various purposes and add-on applications to solve remote sensing-related issues.
The on-premises segment accounted for the largest market share in 2023.
By deployment mode, the on-premise segment held the highest market share in 2023, accounting for nearly one-third of the global geospatial analytics market revenue and is projected to retain its dominance throughout the forecast period. This can be attributed to increase in data security and privacy concerns.
The large enterprises accounted for the largest market share in 2023.
By enterprise size, the large enterprise segment held the highest market share in 2023, accounting for nearly one-third of the global geospatial analytics market revenue and is expected to retain its dominance throughout the forecast period, due to their extensive resources, complex needs, and ability to integrate advanced solutions.
The network and location analytics accounted for the largest market share in 2023.
By type, the network & location analytics segment held the highest market share in 2023, accounting for nearly one-third of the global geospatial analytics market revenue and is expected to retain its dominance throughout the forecast period. This can be attributed to the proliferation of mobile devices and the growth in use of location-based services for navigation, social networking, and marketing have significantly boosted the demand for network and location analytics.
The environmental monitoring segment accounted for the largest market share in 2023.
By industry vertical, the environmental monitoring segment held the highest market share in 2023, accounting for nearly one-third of the global geospatial analytics industry revenue and is expected to retain its dominance throughout the forecast period. This can be attributed to rise in emphasis on combating climate change and promoting sustainability that has driven the demand for geospatial analytics in environmental monitoring.
Asia-Pacific to maintain its dominance by 2033.
By region, North America held the highest market share in terms of revenue in 2023, accounting for three-fourths of the global geospatial analytics market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. owing to rise in penetration of mobility; transition from 2D to 3D-based mapping; and surge in the adoption of GIS technologies in the U.S. and Canada.
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Major Industry Players: –
- Alteryx, Inc.
- Bentley Systems
- Incorporated
- Furgo NV
- General Electric
- Hexagon AB
- Google, Inc.
- MDA Corporation
- Oracle Corporation
- Trimble, Inc.
- TOMTOM International, Inc
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The report provides a detailed analysis of these key players in the global geospatial analytics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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