DUBLIN–(BUSINESS WIRE)–The “Geospatial Analytics Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s providing.
The geospatial analytics market was valued at USD 22 billion in 2020 and is anticipated to succeed in a price of USD 33.19 billion by 2026, at a CAGR of seven.2%, over the forecast interval (2021 – 2026).
Geospatial evaluation refers to a broad vary of actions, which emphasize on making use of varied methods to knowledge, comprising of geographical or space-related traits.
Some of the important thing components driving the expansion of the geospatial analytics market embrace the rising use of GPS units, technological developments within the area of GIS know-how, latest traits in integration and convergence of geospatial applied sciences, creation of latest enterprise fashions geared toward leveraging the demand for geospatial info, and elevated software of geospatial analytics in metropolis and city planning.
There have been latest developments resulting in the convergence of geospatial practices. For occasion, Kongsberg Geospatial, an Ottawa-based developer of real-time, mission-critical, geospatial visualization software program, and CarteNav Solutions, a number one supplier of situational consciousness options for the maritime, land, and air environments, not too long ago declared that their TerraLens platform was chosen by CarteNav to offer geospatial capabilities for its new era of CarteNav’s mission system software program known as AIMS.
The sensible metropolis investments have escalated quickly within the current days and are anticipated to spice up the demand for providers that use location-based options. Further, the Consumer Technology Association reported that the sensible metropolis spending to be USD 14.85 billion in 2015, and is anticipated to succeed in USD 34.35 billion by 2020.
There are additionally excessive prices and operational considerations. However, geospatial analytics instruments are additional leveraging the strengths of machine studying fashions, for making knowledgeable predictions and unlocking key patterns, among the many real-world issues.
Key Market Trends
Defense and Intelligence has Seen the Maximum Application in Geospatial Analytics Market
- Historically, the protection and intelligence end-user vertical has been one of many forerunners, by way of geospatial analytics adoption for gathering actionable intelligence from large quantities of images and different knowledge.
- NATO, for its peacekeeping and safety missions, want quick and quick access to correct and up-to-date geographic info. Data, thus obtainable, is analyzed to guage terrains, ship, and different vessels navigation and logistics administration
- Companies working on this house are concerned in M&A exercise to develop extremely specialised options, able to dealing with strategic choices. Since October 2017, there have been seven acquisitions inside geospatial analytics and geographic info system firms. DigitalGlobe, a supplier of high-resolution optical satellite tv for pc imagery, was acquired by MacDonald, Dettwiler and Associates’ (MDA’s) for a whopping USD 3.5 billion.
- The rising crime charges have propelled the governments to deploy options that allow them to trace the supply of crimes or gives them with the intel that might enable them to cease the crime even earlier than it happens. This is anticipated t enhance the adoption of the geospatial analytics over the forecast interval.
Key Market Players are General Electric (GE), ESRI Inc., MDA Corporation, Hexagon AB, Trimble Geospatial, Bentley Systems, Inc., and others. The market is led by these giants and so they dominate the market. Hence the market is consolidated. Therefore, market focus is excessive.
Key Topics Covered:
2 RESEARCH METHODOLOGY
Three EXECUTIVE SUMMARY
Four MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.4 Market Drivers
4.4.1 Recent Developments Leading to Convergence of Geospatial Practices
4.4.2 Increased Adoption of Geospatial Services in Novel Applications
4.5 Market Challenges
4.5.1 High Costs and Operational Concerns
4.5.2 Legal Hurdles
4.6 Technology Snapshot
4.6.3 Remote Sensing
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Surface Analysis
5.1.2 Network Analysis
5.2 By End-user Vertical
5.2.2 Utility and Communication
5.2.3 Defense and Intelligence
5.2.5 Natural Resources
5.2.6 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ESRI Inc.
6.1.2 MDA Corporation
6.1.3 Hexagon AB
6.1.4 Trimble Geospatial
6.1.5 Bentley Systems, Inc.
6.1.6 Fugro NV
6.1.7 Harris Corporation
6.1.8 Atkins PLC
6.1.9 General Electric (GE)
6.1.10 Critigen LLC
6.1.11 Intermap Technologies Inc.
7 INVESTMENT ANALYSIS
Eight MARKET OPPORTUNITIES AND FUTURE TRENDS
For extra details about this report go to https://www.researchandmarkets.com/r/qlvrbh