Stratview Research has published a new report on the Geospatial Analytics Market, segmented by Technology (Earth Observation, GIS, GNSS & Positioning, 3D Scanning), by Deployment Mode (Cloud, On-premise) by Enterprise Size (Large Enterprise, Small & Medium Enterprises) by End-use (Security & Defense, BFSI, Media & Entertainment, Healthcare, Architecture, Engineering & Construction, Education, Telecom, Manufacturing,Oil & Gas, Retail, Transportation & Logistics). This report provides critical insights on the market dynamics and enables strategic decision making for the existing and new market players
The Geospatial Analytics Market is projected to grow from USD 60.9 billion in 2020 to USD 125.3 billion by 2026 at a CAGR of over 13.0% during the forecast period. The increasing number of AI and ML-based GIS solutions, the development of smart cities and urbanization, advancements in big data analytics, and increased deployment of IoT sensors across locations are the major factors driving the growth of the geospatial analytics market.
Covid-19 has impacted the market dynamics, competition, and global supply chain of every possible market one can think of. The revenues for many, have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operations and strategy will sustain and beat the competition.
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This report studies the geospatial analytics market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:
by Enterprise Size Trend
Based on Enterprise Size, the Geospatial analytics market has been classified into Large Enterprise, Small & Medium Enterprises. Under these, the Small & Medium Enterprises segment held a significant market share in 2020. The increased adoption of cloud technologies leads to improved business performance, creating a demand for geospatial analytics in SMEs.
By Regional Trend
The Geospatial analytics market in North America accounted for the largest market share in 2020. Geospatial analytics technologies are widely used in North American applications such as construction, agriculture, transportation, and utilities. The demand for real-time information and location-based services is expected to rise in the coming years, owing to increased adoption of mobile GIS technologies, which will benefit the geospatial analytics market in this region.
Following are the key players in the geospatial analytics Market:
Bentley Systems (US)
Descartes Labs (US)
General Electric (US)
Hexagon AB (Sweden)
Maxar Technologies (US)
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