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Author: Vikas Kumar
January 12, 2023
Geospatial analytics is used to add timing and location to traditional types of data and to build data visualizations. These visualizations can include maps, graphs, statistics, and cartograms that show historical changes and current shifts.
The growing adoption of geospatial analytics can be attributed to the growing implementation of AI and ML capabilities of geospatial data. Furthermore, the growing number of geospatial analytics service providers is also expected to drive the market. Moreover, location-based services are widely utilized in various different verticals, including retail, mining transportation construction, and urban planning. For instance, in Jan 2020 Esri, a global leader in location technology partnered with Open Systems International to offer utility companies Esri’s ArcGIS utility network management as a part of GIS technology and OSI’s operational technology (OT) platform. The Geospatial Analytics Market is expected to grow at a steady rate of around 12% during the forecast period (2022-2028)
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Based on component, the market is segmented into solutions and service. The solutions segment is expected to grow with a significant CAGR during the forecast period, owing to the increasing adoption of software solutions by companies for gaining location-based business intelligence for informed decision-making. Furthermore, due to climate change, there has been a significant rise in the adoption of geospatial analytics software in environment monitoring and forest management.
Based on type, the market is segmented into surface and field analytics, network and location analytics, geovisualization, and others. The surface and field segment is expected to achieve a significant CAGR during the forecast period. The growing adoption of surface and field analytics by government and private companies for infrastructural development is expected to drive the market. Furthermore, the growing use of geospatial analytics in agriculture to determine the flow of water, design and construct drainage systems, and analyze topsoil erosion are expected to influence the demand in the segment.
For a detailed analysis of the Global Geospatial Analytics Market browse through– https://univdatos.com/report/geospatial-analytics-market/
For a better understanding of the market adoption of geospatial analytics, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), and Rest of World. The Asia Pacific region is expected to grow with a significant CAGR during the forecast period, The growth of geospatial analytics in the region can be attributed to the growing government investments in developing a space-borne – airborne observation systems to improve the national regional, and global in responding to emergencies, and to enhance human health. Furthermore, the region has major developing countries like India and China which have massive defense budgets for research and refinement of the technology.
Some of the major players operating in the market include Esri Inc, MDA Corporation, Hexagon AB, TomTom N.V, Trimble Inc, Maxar Technologies Inc, RMSI, Maplarge, General Electric Company, and Bentley Systems.
Global Geospatial Analytics Market Segmentation
Market Insight, by Component
• Solutions
• Service
Market Insight, by Type
Market Insight, by Technology
• Remote Sensing
• GIS• GPS• Other
Market Insight, by Deployment
• On-Premises
• Cloud
Market Insight, by Industry Vertical
• Government
• Environmental monitoring• Defense and security• Others
Market Insight, by Region
Top Company Profiles
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