Global Geospatial Solutions Market was valued at USD 224.10 Bn in 2019 and is expected to reach at USD 576.63 Bn by 2027 at a CAGR of 12.54% over forecast period 2020-2027.
The report covers an in depth analysis of COVID 19 pandemic impact on Global Geospatial Solutions Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Geospatial Solutions Market Dynamics:
Geospatial denotes data that is associated with a particular location. This means that records in a dataset have location information tied to them such as geographic data in the form of coordinates, address, city or pin code. Geographic Information System (GIS) is a form of geospatial data. Geospatial technology consist of techniques used in visualisation, measurement and analysis of earth’s features and connected instruments and equipment. An increasing smart city initiatives in developing countries have resulted in the growing need for geospatial technologies for use in 3D urban mapping; monitoring and mapping natural resources. Growing adoption of IoT, Artificial Intelligence (AI) and big data analysis across the globe is expected to create lucrative opportunities for Global Geospatial Solutions Market over forecast period.
However, factors such as high acquisition costs and operational concerns such as lack of skilled human resource, limited presence of open standards and interoperability mechanisms are restraining the market growth over forecast period.
Global Geospatial Solutions Market is segmented by technology, by solution and by end user. By technology, an earth observation segment held 34.76% of market share in 2019 and is expected to keep its dominance over forecast period. Earth observation satellites observe the planet for changes in everything, from temperature to forestation to ice sheet coverage. This is possible through satellite imagery, Light Detection and Ranging (LiDAR), and other related technologies. Earth observation segment is followed by geospatial analytics technology with 27.34% of market share over forecast period. Geospatial analytics was initially developed with an aim to tackle challenges faced by the environmental and life sciences industries, majorly focusing on ecology, epidemiology, and geology.
By geography, North America held 35.09% of market share in 2019 and is expected to keep its dominance over forecast period owing to the wide presence of key industry players offering geospatial solutions in the region. Major players operating in the North America are Esri (US), Hexagon (Sweden), Atkins PLC (UK), Pitney Bowes (US), Topcon (Japan), DigitalGlobe Inc (Maxar Group) (US), General Electric (US), Harris Corporation (US) and Google (US). Growing adoption of emerging technologies such as big data analysis, cloud computing, IoT, AI, is expected to create lucrative opportunities for geospatial services market in this region.
North America is followed by APAC and Europe. APAC is expected to hold 27.34% of market share over forecast period owing to the growing demand in China, India, and Japan. The increase in demand in China is mainly attributed to its rapid industrialization and growth of the infrastructure and logistics sectors.
Report covers key development and company profiles of market leaders, potential players and new entrants. Some of the key players covered in this report are HERE Technologies (the Netherlands), Esri (US), Hexagon (Sweden), Atkins PLC (UK), Pitney Bowes (US), Topcon (Japan), DigitalGlobe Inc (Maxar Group) (US), General Electric (US), Harris Corporation (US), Google (US), Bentley (UK), Trimble (US) and Geospatial Corporation (US) among others. These key players are adopting various inorganic and organic growth strategies such as merger& acquisitions, joint ventures, strategic alliances, new product launches, patent and diversification to increase their regional presence and business opeartions. For instance, in August 2016, IBM Watson formed a partnership with MAPBOX to offer analysis services to business users. These services enabled users to gain insights into the patterns of their location-related business data for improving marketing strategies and operations.
Trimble (US) is a key player in this market. Its geospatial business segments offer GIS and surveying and geospatial solutions. Its surveying and geospatial portfolio includes solutions such as mapping, 2D or 3D modelling, measurement, reporting, analysis, and land management through field-based technologies for construction, engineering, mining, oil & gas, energy & utilities, and government.
The objective of the report is to present a comprehensive analysis of the Global Geospatial Solutions Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Geospatial Solutions Market dynamics, structure by analyzing the market segments and project Global Geospatial Solutions Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Geospatial Solutions Market make the report investor’s guide.
Scope of Global Geospatial Solutions Market
Global Geospatial Solutions Market Segmentation by Technology
• Earth Observation
• Geospatial Analytics
• GNSS & Positioning
Global Geospatial Solutions Market Segmentation by Solution
Global Geospatial Solutions Market Segmentation by End-User
• Defence & Intelligence
• Infrastructural Development
Global Geospatial Solutions Market Segmentation by Region
• North America
• MEA& Africa
• Latin America
Global Geospatial Solutions Market Major Players
• HERE Technologies (the Netherlands)
• Esri (US)
• Hexagon (Sweden)
• Atkins PLC (UK)
• Pitney Bowes (US)
• Topcon (Japan)
• DigitalGlobe Inc (Maxar Group) (US)
• General Electric (US)
• Harris Corporation (US)
• Google (US)
• Bentley (UK)
• Geospatial Corporation (US)
• Baidu (China)
• Telenav (US)
• TomTom International B.V. (the Netherlands)
• Apple (US)
• Oracle (US)
• Microsoft (US)
• Amazon (US)
• IBM (US)
• SAP (US)
• China Geo-Engineering Corporation (CGC) (China)
• RMSI (India)
• Orbital Insights (US)
• Trimble (US)
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