The geospatial analytics market for surveying reached US $45,130 Mn in the year 2019 and is expected to reach US $2,05,870 Mn by 2029 growing at a CAGR of 16.46% during the forecast period 2021 to 2029. Introduction of sophisticated tools such as 3D tools, HD imagery, terrestrial scanning, artificial intelligence, internet of things (IOT), Big data have all boosted the application of geospatial analytics market and have enhanced the precision, and analytical input required for surveying purpose. Increased application of GPS technologies, social media and so on has increased the recent traction of the market. The network and location analytics establishes trend between complex relationships between multi-parametric data points. This adds significant value by providing visual patterns and images that enables enhanced decision making process.
In 2020, the largest segment by type in the geospatial analytics market by type was network and location analytics that accounted to about 40% of the total revenues in the same year. This segment remained high due to its application in utility networks, transportation networks and networks based on social connections. Network and location analytics segment remains the highest due to wide range application in planning operations and social networking data analytics.
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The geospatial analytics market in North America hit the largest revenue share in 2020. Access to enhanced technology, increased investment in R&D, aggressive focus on innovation by domestic companies, enhanced infrastructure with respect to satellite mapping and data infrastructure, availability of structured data are the key reason for the increased market revenues in the U.S.
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 for 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, MapLarge, Bentley Systems, Inc., Oracle Corporation.
The Global Geospatial Analytics Market is Segmented into:
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2019-2029 |
| Base Year | 2020 |
| Forecast Period | 2021-2029 |
| Historical Year | 2019 |
| Unit | US$ Million |
| Segmentation | Component Segment (2019-2029; US$ Mn) |
| Type Segment (2019-2029; US$ Mn) | |
| Application Segment (2019 – 2029; US$ Mn) | |
| End-use Vertical Segment (2019 – 2029; US$ Mn) | |
| Geography Segment (2019–2029; US$ Mn) |
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