Report Overview
The Geospatial Analytics market is forecast to grow at a CAGR of 22.9%, reaching USD 494.0 billion in 2031 from USD 176.4 billion in 2026.
Highlights:
- 1April 2024Esri GIS, in collaboration with London Gatwick, developed a geospatial platform featuring the former’s GIS technology. The platform supports multiple operational areas at the airport, including environmental and engineering services. Its new insights would bolster better decision-making and collaboration across London Gatwick.
- 2October 2022AcreTrader launched its geospatial analytics platform “Acres” for mobile and desktop and would provide access to local insights, and comparable sales of U.S.-related 150 million land parcels. The platform consolidates and analyses public and private data into an easy-to-use interface.
- 3July 2022Spectra Geospatial launched a product under its mapping and geographic information portfolio, “SP30”, which is a high-performance data collector for GIS and inspection activities. The system, owing to its rugged and high accuracy GNSS (Global Navigation Satellite System) positioning, is ideal for professional field work.
- 4June 2022ICEYE launched its geospatial platform, “ICEYE Insight”, which would provide unique flood-related information and analysis to insurance companies to assist them in property insurance analysis. The platform utilizes the “EigenPrism®” catastrophe risk management tool, which automatically updates the data in real-time following the flood event.
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.
What are the geospatial analytics market growth drivers?
Favorable efforts to bolster satellites and location-based services have accelerated the 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.
Growth in the Internet of Things (IoT) has propelled the market expansion.
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.
Geospatial Analytics Market Segmentation Analysis
The geo-visualization is estimated to show significant growth.
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.
What are the key geographical trends shaping the geospatial analytics market?
North America is poised to show quickest growth during the given period.
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.
Recent developments in the geospatial analytics market:
Geospatial Analytics Market Scope:
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Companies |
|
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 |
|
Companies Covered |
|
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:
By Component
Software
Services
By Type
Surface & Field Analytics
Network & Location Analytics
Geovisualization
Others
By Enterprise Size
Small and Medium
Large
By Application
Surveying
Medicine & Public Safety
Military Intelligence
Disaster Risk Reduction & Management
Climate Change Adaptation (CCA)
Others
By Geography
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
Japan
India
South Korea
Indonesia
Taiwan
Others
Table of Contents
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base and Forecast Years Timeline
1.8. Key benefits for the stakeholders
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. GEOSPATIAL ANALYTICS MARKET BY COMPONENT
5.1. Introduction
5.2. Software
5.3. Services
6. GEOSPATIAL ANALYTICS MARKET BY TYPE
6.1. Introduction
6.2. Surface & Field Analytics
6.3. Network & Location Analytics
6.4. Geovisualization
6.5. Others
7. GEOSPATIAL ANALYTICS MARKET BY ENTERPRISE SIZE
7.1. Introduction
7.2. Small and Medium
7.3. Large
8. GEOSPATIAL ANALYTICS MARKET BY APPLICATION
8.1. Introduction
8.2. Surveying
8.3. Medicine & Public Safety
8.4. Military Intelligence
8.5. Disaster Risk Reduction & Management
8.6. Climate Change Adaptation (CCA)
8.7. Others
9. GEOSPATIAL ANALYTICS MARKET BY GEOGRAPHY
9.1. Introduction
9.2. North America
9.2.1. By Component
9.2.2. By Type
9.2.3. By Enterprise Size
9.2.4. By Application
9.2.5. By Country
9.2.5.1. United States
9.2.5.2. Canada
9.2.5.3. Mexico
9.3. South America
9.3.1. By Component
9.3.2. By Type
9.3.3. By Enterprise Size
9.3.4. By Application
9.3.5. By Country
9.3.5.1. Brazil
9.3.5.2. Argentina
9.3.5.3. Others
9.4. Europe
9.4.1. By Component
9.4.2. By Type
9.4.3. By Enterprise Size
9.4.4. By Application
9.4.5. By Country
9.4.5.1. Germany
9.4.5.2. France
9.4.5.3. United Kingdom
9.4.5.4. Spain
9.4.5.5. Others
9.5. Middle East and Africa
9.5.1. By Component
9.5.2. By Type
9.5.3. By Enterprise Size
9.5.4. By Application
9.5.5. By Country
9.5.5.1. Saudi Arabia
9.5.5.2. UAE
9.5.5.3. Others
9.6. Asia Pacific
9.6.1. By Component
9.6.2. By Type
9.6.3. By Enterprise Size
9.6.4. By Application
9.6.5. By Country
9.6.5.1. China
9.6.5.2. Japan
9.6.5.3. India
9.6.5.4. South Korea
9.6.5.5. Indonesia
9.6.5.6. Taiwan
9.6.5.7. Others
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Market Share Analysis
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Competitive Dashboard
11. COMPANY PROFILES
11.1. ESRI
11.2. TomTom International BV
11.3. Fugro
11.4. Bentley Systems Incorporated
11.5. SAP SE
11.6. Google LLC
11.7. RMSI
11.8. Hexagon AB
11.9. CARTO
11.10. ALTERYX, INC.
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