The size of the global geospatial analytics market was USD 56.88 billion in 2020, and it is anticipated to increase by 12.8% CAGR from USD 63.61 billion in 2021 to USD 147.58 billion in 2028. According to our analysis, the global market experienced a notable increase of 11.7% in 2020 compared to year-over-year growth between 2017 and 2019. The market size for various geospatial solutions, including spatial analysis and thematic mapping, geocoding and revere geocoding, data integration, and ETL tools, is included. Geospatial analytics solutions experienced a positive demand shock across all regions during the pandemic, demonstrating the unprecedented and staggering impact of COVID-19 on the world. The market's demand and expansion, which will resume to pre-pandemic levels once the pandemic is over, are what account for the steady increase in CAGR.
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Which company dominates the Global Geospatial Analytics Market?
- Alteryx (California, U.S.)
- Microsoft Corporation (New Mexico, U.S.)
- Bentley Systems, Incorporated (Pennsylvania, U.S.)
- CARTO (New York, U.S.)
- Descartes Labs, Inc. (New Mexico, U.S.)
- Esri (California, U.S.)
- Google LLC (Alphabet Inc.) (California, U.S.)
- Pitney Bowes (Connecticut, U.S.)
- TomTom (Amsterdam, Netherlands)
- Fugro (Leidschendam, Netherlands)
What are the factors driving the growth of the Geospatial Analytics Market?
Retail, mining, transportation, construction, and urban planning are just a few of the industries that heavily rely on location-based services. For a variety of applications, including geospatial modeling, route optimization, asset tracking, and others, businesses and agencies are increasingly relying on location-based services that are integrated with Geographic Information System (GIS) technology to provide better consumer-focused services. For tasks like assessing the condition of buildings, optimizing space use, and route planning, facility managers, for instance, use GIS technology to support a range of business processes and information systems.
What are the market's geographic insights for Linux operating systems?
Geographically, the market is divided into five main regions: South America, North America, Europe, Asia Pacific, and the Middle East & Africa.
The global market will be dominated by North America in 2020. Construction, agriculture, transportation, and mining are just a few of the North American industries that heavily rely on geospatial technology. For instance, the United States National Mining Association will use location-based services and geographic information systems (GIS) to plan and gather geophysical, geological, and topographic data and information about natural resources starting in May 2020. It is anticipated that in the coming years, demand for real-time information and location-based services will increase due to the development of mobile GIS technologies, which will positively impact the North American market.
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An overview of the report
- The report comprehensively analyzes recent and anticipated market trends to help investors find investment opportunities.
- Market predictions through 2028, starting from estimated market values
- Market trends that are significant across industries, regions, and countries
- Market strategies and significant developments observed
- Market dynamics like drivers, obstacles, opportunities, and other trends require
- comprehensive company profiles of significant players, both established and emerging
- Emerging economies are anticipated to grow through 2028.
Analysts have segmented the "Geospatial Analytics Market" into application, type, and regional segments to aid market participants in better understanding the market. Each element clearly demonstrates the variables that are most likely to have an impact on it and the variables that are anticipated to have a limit. The reader can access specific market updates thanks to the segmented explanation. The market research report on Geospatial Analytics Market Trends also discusses evolving environmental concerns, shifting political environments, and various government approaches to regulatory reforms.
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