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Geospatial Analytics Market Size, Share, Global Market Forecast To 2030 | CAGR of 16.46%

Geospatial is a term that is used widely to describe the combination of analytical methods and spatial software with geographic or terrestrial datasets. Geospatial analytics solutions have helped in facilitating higher quality, productive workflow, and data exchange in order to drive productivity, value, safety, and efficiency across several end-use verticals. The introduction of Big Data and Artificial Intelligence (AI) coupled with the rising adoption of the Internet of Things (IoT) across various end-use applications are some of the major factors augmenting the market for geospatial analytics worldwide. IoT and other such related technologies have penetrated the day-to-day lives of several individuals as they are being used for addressing a wide range of real-life challenges. These technologies and several handheld devices allow organizations to collect geo-referenced data about any event to build graphs, maps, statistics, and cartograms for making complex relationships understandable. The Geospatial analytics market is expected to grow at a CAGR of 16.46% during the forecast period of 2022 to 2030.

In 2021, the largest segment by type in the geospatial analytics market by component was software segment that accounted to about 85% of the total revenues in the same year. Software remains the key element of the geospatial analytics segment that provides elementary function such as data capture to sophisticated functions such as deriving trend line and forecasting, recognizing patterns and also provides response management. 

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North America was the largest contributor of geospatial analytics market revenue in the year 2021. North America contributed over 41% of the total revenues generated by the geospatial analytics market during the same year. The key region within North America is U.S. The geospatial analytics market in North America hit the largest revenue share in 2021 and is expected to grow at a CAGR of 14.12% during the forecast period from 2022 to 2030. APAC remains as the most lucrative region for investment during the forecast period.

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The geospatial analytics market is fragmented and characterized by the presence of both domestic and global players. The players in the geospatial analytics market are centering their efforts on developing new Product ranges catering to various applications. Major players in the market include Maxar technologies, Hexagon AB, Trimble, Alteryx, RMSI, Fugro and L3Harris.  The other tertiary player includes SAP, google, GE Grid, Esri and so on. The major players in the geospatial analytics vendors are focused on winning new contracts specifically into government domain.

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KEY MARKET MOVEMENTS

  • The Geospatial analytics market is expected to grow at a CAGR of 16.46% during the forecast period of 2022 to 2030.
  • In 2021, the largest segment by type in the geospatial analytics market by component was software segment which accounted to about 85% of the total revenues in the same year.
  • In 2021, the largest segment by type in the geospatial analytics market by type was network and location analytics which accounted to about 40% of the total revenues in the same year.
  • In 2021, the surveying segment had highest share in the global geospatial analytics market. This segment accounted to about 40% share in the global market in the same year.
  • North America contributed over 41% of the total revenues generated by the geospatial analytics market during the same year.
  • The geospatial analytics market is fragmented and characterized by the presence of both domestic and global players.
  • Major players in the market include Maxar technologies, Hexagon AB, Trimble, Alteryx, RMSI, Fugro and L3Harris.

Global Geospatial Analytics Market is Segmented into:

ATTRIBUTE DETAILS
Research Period 2020-2030
Base Year 2021
forecast Period 2022-2030
Historical Year 2020
Unit  USD Million

Segmentation

 Component Segment (2020-2030; US$ Mn)

 Type Segment (2020-2030; US$ Mn)

 Application Segment (2020-2030; US$ Mn)

 Geography Segment (2020-2030; US$ Mn)

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