The geospatial analytics market is poised to grow at a CAGR of 22.83%, thereby reaching a market size of US$327.820 billion in 2029 from estimated value of US$117.232 billion in 2024.
Geospatial analytics is a type of computational analysis that leverages spatial and geography-location data using high-resolution imagery. It is used to structure necessary insights that are used in decision-making related to specific industrial applications. Such analytics creates data visualization, which assists in the prediction of trends.
The growing technological innovation in military intelligence and investment to bolster location-based services, followed by the ongoing developments in geospatial technology, has provided new growth prospects for the market.
Moreover, emerging technologies such as Artificial Intelligence (AI) and the Internet of Things are acting as an additional driving factor for market growth.
Efforts in advancing satellite imaging, GPS, and other location-based technologies have enhanced the overall analysis of proximity, distance, and contiguity-related hidden datasets. Space agencies are working to improve their imaging technology, opening new paths for geospatial analytics. Further, Location-based services (LBS) are becoming increasingly popular in the retail, transportation, and logistics industries which rely on insights to optimize their routing and logistics operations. Moreover, geospatial analytics enables companies to understand their consumer demographics and improve overall efficiency.
Additionally, geospatial analytics also finds high applicability in the defense sector for tracking illicit vessel activities, and with the growing effort to safeguard borders, the demand for geospatial systems is estimated to show positive growth. In May 2024, the National Geospatial Intelligence Agency opened its first commercial solution, which would provide direct-to-warfighter commercial analytics for maritime operations. The solution would track, monitor, and identify any illicit maritime vessel movement in the U.S Indo-Pacific command area.
IoT technology is on the rise and their integration with sensors and GPS-enabled devices has established a blueprint for applying such technology in the collection and analysis of geographic-based data. This has helped to fuel demand for geospatial analytics solutions, particularly in areas such as smart cities and transportation.
By type, the geospatial analytics market is analyzed into surface & field analytics, network & location analytics, geo-visualization, and others. The Geo-visualization segment is set to show remarkable growth as the demand for technology is gaining traction in major areas such as oil & gas, and utilities, where effective management of assets is critical.
Besides utilities, geo-visualization also finds applicability in defense, agriculture, and healthcare fields. Governing authorities are taking necessary steps to bolster its adoption. For instance, as per the PIB September 2022 release, a technical advisory committee was held under the chairmanship of the Agriculture secretary, which aimed to transform the MNCFC (Malahanobis National Crop Forecast Center) into a Center of Excellence for Geospatial Technology Applications. The committee aimed to elevate the utilization of drones and AI/ML for making informed decisions relating to agricultural activities.
Geography-wise, North America is anticipated to hold considerable market share and will grow at a quick pace, which is attributable to the well-established presence of major players, followed by investment in imaging technological advancements and promotion of their applicability across various industrial verticals.
Strategic collaboration of companies specialized in earth-observation satellites with research institutes and authorities in regional economies, namely the United States and Canada, has led to an upward market trajectory. For instance, in November 2023, Satellogic Inc., which specialized in providing sub-meteor Eart Observation data, was granted a remote sensing license by the National Oceanic and Atmospheric Administration, which enabled the former to include US-based ground stations in its network. The collaboration would provide US civil, defense, and intelligence agencies with a set of rapid & accurate geospatial data for a range of applications on a global scale.
In November 2023, the U.S. Agency for International Development (USAID) launched its first “Geospatial Strategy”, which aimed to leverage geospatial technology & data for delivering international programs. The approach integrates mapping technology and decision-making based on geographical information with policies & practices focused on the development of humanitarian assistance.
Additionally, the Asia Pacific and European regions are estimated to constitute a considerable share and are poised to grow steadily, fuelled by the ongoing agreement establishments between geospatial and regional pace agencies and efforts to secure national borders.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
Geospatial Analytics Market Size Value in 2024 |
US$117.232 billion |
Geospatial Analytics Market Size Value in 2029 |
US$327.820 billion |
| Growth Rate | CAGR of 22.83% from 2024 to 2029 |
| Study Period | 2019 to 2029 |
| Historical Data | 2019 to 2022 |
| Base Year | 2024 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
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| Companies Covered |
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| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
Geospatial Analytics Market is analyzed into the following segments: