The global geospatial solutions market was worth USD 342.35 billion in 2023. The global market is predicted to reach USD 385.14 billion in 2024 and USD 988.19 billion by 2032, growing at a CAGR of 12.5% during the forecast period.
The rising trend of integrating geospatial systems with traditional processes and releasing solutions is expected to promote market growth. The growing need for innovative technologies in emerging countries and the introduction of the concept of smart cities are projected to increase the market for geospatial solutions. The geospatial solutions market is expected to increase rapidly during the forecast period as the number of GPS-enabled smartphone devices grows.
Geographic Information System (GIS), Global Positioning System (GPS), and Remote Sensing (RS), a technology that enables a totally different way of making and using maps that are needed to govern communities and industries, are all part of the burgeoning field of geospatial technology. We can use geospatial technology to collect georeferenced data for analysis, modeling, simulations, and visualization. Geographic solutions are used to create geospatial data models and solutions across many sectors. They integrate sensors, real-time communications, field apps, field and back-office processing, modeling, and analytics to provide effective workflow, high quality, and data interchange to drive productivity, efficiency, and safety. As a result, you'll have a wealth of correct data to turn into the insight you need to make decisions.
Spatial and geographic data are analyzed and studied using geographic information systems (GIS). Integrating technologies such as Augmented Reality (AR), 3D printing, and Artificial Intelligence (AI) into geospatial solutions is expected to drive market expansion. Furthermore, the market is expected to grow as a result of increasing research efforts related to space and the earth and consistent funding for these research activities. Furthermore, the growing adoption of the Global Positioning System (GPS) worldwide is likely to boost market growth.
Some constraints and hurdles will stymie the overall expansion of the Geospatial Solutions market. Stringent regulatory regulations and legalities may prove to be the source of market growth restraints.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
12.5% |
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Segments Covered |
By Technology, Solution Type, Application, End-User, And Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Trimble Inc., Pitney Bowes Inc., Hexagon AB, Maxar Technologies, Harris Corporation, Apple Inc., Amazon Web Services, Inc., IBM, Oracle, SAP, and others. |
The market is divided into Geospatial Analytics, GNSS & Positioning, Scanning, and Earth Observation based on technology. Satellite images, Light Detection and Ranging (LiDAR), and similar technologies have all grown in popularity in recent years. Earth observation satellites track changes in anything from temperature to forestation to ice sheet coverage on the planet. During the projected period, the earth observation sector is expected to dominate the market.
The market is divided into three categories based on solution type: hardware, software, and service. The introduction of software into the geospatial solution sector has simplified complicated situations. The geospatial-specific software provides a platform that serves as a user interface for executing and analyzing diverse geospatial data. As a result, the software segment accounts for most of the market revenue and has a more significant portion of the geospatial technologies and solutions sector.
The market is divided into Planning & Analysis, Asset Management, Surveying & Mapping, Geo-visualization, and Others based on application. The greatest segment is surveying and mapping. The surveying and mapping solution market is growing due to an increase in the trend of using technologies such as lidar and remote sensing for data capture. The Planning and Analysis area, on the other hand, is expected to develop at the quickest rate. During the projected period, the market is expected to be driven by growing applications such as telecom, urban planning, transportation planning, environmental planning, and land use planning.
Transportation, Défense & Intelligence, Infrastructural Development, and Others are the end-user segments of the market. Défense & Intelligence is the most popular segment among end-users, owing to widespread application in both developed and developing countries. However, due to the massive infrastructure operations currently underway, Infrastructural Development will increase rapidly during the projection period.
In the past, North America controlled the market. The market in North America is expected to increase due to the growing trend of geospatial technologies being integrated into mainstream technology. The United States is predicted to have the highest consumption of geospatial solutions in the North American region, with a CAGR of 11.7 percent from 2022 to 2027.
However, due to the quickly increasing technology hub, Asia-Pacific is expected to be the fastest-growing category during the forecast period. With a CAGR of 13.9 percent between 2022 and 2029, China is expected to lead the worldwide geospatial solution market in growth. China has consistently enhanced its military capability in air, land, and sea, fuelling the growth of the geospatial solution market.
The geospatial solution industry in the United Kingdom is estimated to reach a valuation of US$95.7 by 2029. Demand for geospatial solutions in European countries such as the United Kingdom, France, Germany, and others is expected to expand rapidly in the future. This is due to Europe's robust defense and internal security systems and growing urbanization.
Saudi Arabia topped the geospatial analytics market in the Middle East and Africa in 2021, followed by Turkey. The geospatial solution market in the Middle East and Africa is growing due to measures taken by central governments in countries such as Saudi Arabia to examine geospatial imaging and investments made by numerous governments in the region.
The Latin American geospatial analytics industry is growing due to increased government focus and initiatives, such as the creation of a special department to oversee growth and innovation in geospatial imaging and NASA's efforts to provide satellite imagery to Mexico.
The major companies operating in the global geospatial solutions market include Trimble Inc., Pitney Bowes Inc., Hexagon AB, Maxar Technologies, Harris Corporation, Apple Inc., Amazon Web Services, Inc., IBM, Oracle, SAP, and others.
Satellogic Inc. (NASDAQ: SATL), a leader in collecting sub-meter resolution satellite imagery, has teamed up with Geollect, a global leader in geospatial intelligence and data analysis, to provide unrivaled maritime domain awareness capabilities.
By Technology
Geospatial Analytics
GNSS & Positioning
Scanning
Earth Observation
By Solution Type
Hardware
Software
Service
By Application
Planning & Analysis
Asset Management
Surveying & Mapping
Geo-visualization
Others
By End User
Transportation
Défense & Intelligence
Infrastructural Development
Others
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Frequently Asked Questions
Emerging trends in the geospatial solutions market include the integration of artificial intelligence (AI) and machine learning (ML) algorithms for data analysis, the adoption of cloud-based geospatial platforms for scalability and accessibility, and the proliferation of location-based services in consumer applications such as ride-hailing and augmented reality gaming.
Advances in satellite technology, including the deployment of small satellites, high-resolution imaging sensors, and constellations of Earth observation satellites, are expanding the capabilities of geospatial solutions. These advancements enable more frequent, cost-effective, and accurate data acquisition for various applications, from agriculture to disaster response.
In the agriculture sector, geospatial solutions are used for precision farming, crop monitoring, yield prediction, soil mapping, and water resource management. These applications help farmers optimize inputs, improve productivity, and minimize environmental impacts.
Geospatial solutions support urban planning and smart city initiatives by providing tools for spatial analysis, infrastructure management, transportation planning, and citizen engagement. GIS technologies enable city authorities to optimize land use, enhance public services, and create more sustainable and livable urban environments.
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