The “Geospatial Analytics Market” report gives a massive source to analyze the industry and other fundamental technicalities identifying with it. The examination discloses the total assessment and veritable parts of the geospatial analytics market. This study exhibits a straightforward outline of the industry, that integrates applications, blueprints, industry chain structure, and definitions. This report prepares a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.
The global geospatial analytics market size is anticipated to be USD 134,479.7 million by 2025. The market is projected to register 15.0% of CAGR over the next seven years. The recent innovation in drone technology and UAVs have helped in easy monitoring of remote data with minimal human interference, thereby, offered a huge opportunity for the geospatial market to expand. Further, the growing use of smartphone and devices with GPS features are likely to drive the market growth.
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Government initiatives such as smart city projects have led to the growing use of innovative technologies in 3-dimensional urban mapping, which, in turn, is proliferating the growth of the market. Location-based geospatial analytics helps in better decision making in case of occurrence of natural disasters. Further, leading oil & gas firms across the globe are using geospatial solutions to find out natural gas and crude oil.
With safety being the first priority, the automotive industry is widely deploying geospatial analytics. As per the U.S. Census Bureau nearly 85.7% of employees in the U.S, aged above 16, use the car, truck and van to commute. With over 125 million commuters on the road daily, the U.S faces stiff challenges in managing its transportation.
North America was the leading player in 2018 owing to the presence of key players such as Google LLC, Harris Corporation, Pitney Bowes, Alteryx, Inc., and Digital Globe among others. Additionally, high penetration of leading technologies such as IoT, AI and cloud computing offers a lucrative opportunities for the market players to invest in the region. APAC, on the other hand, is projected to emerge as the highest growing region over the forecast duration owing to increasing demand from China, Japan and India.
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