Geospatial Analytics Market To Reach $226.53 Billion By 2030

Geospatial Analytics Market Growth & Trends

The global geospatial analytics market size is expected to reach USD 226.53 billion by 2030, registering a CAGR of 12.6% from 2023 to 2030, 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.

 Request a free sample copy or view report summary: Geospatial Analytics Market Report

Geospatial Analytics Market Report Highlights

• 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 2023 to 2030. Numerous smart city initiatives such as the ASEAN Smart Cities Initiative are anticipated to fuel the demand for geospatial analytics software in the region

Geospatial Analytics Market Segmentation

Grand View Research has segmented the global geospatial analytics market report based on component, type, application, and region

Geospatial Analytics Component Outlook (Revenue, USD Million, 2018 - 2030)

• Software

• Service

Geospatial Analytics Type Outlook (Revenue, USD Million, 2018 - 2030)

• Surface & Field Analytics

• Network & Location Analytics

• Geovisualization

• Others

Geospatial Analytics Application Outlook (Revenue, USD Million, 2018 - 2030)

• Surveying

• Medicine & Public Safety

• Military Intelligence

• Disaster Risk Reduction & Management

• Marketing Management

• Climate Change Adaption (CCA)

• Urban Planning

• Others

Geospatial Analytics Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Mexico

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players of Geospatial Analytics Market

• Alteryx, Inc.

• Bentley Systems Incorporated

• ESRI

• Fugro N.V.

• General Electric Company

• Google LLC

• Foursquare

• Trimble

• Maxar Technologies Inc.

• SAP SE