Geospatial Analytics Market by Offering (Solutions (Type (Geocoding & Reverse Geocoding and Thematic Mapping & Spatial Analytics)) & Services), Technology (Remote Sensing, GPS, GIS), Vertical, and Region - Global Forecast to 2028
[325 Pages Report] The global market for Geospatial Analytics is projected to grow from USD 78.5 billion in 2023 to USD 141.9 billion by 2028, at a CAGR of 12.6% during the forecast period. Geospatial analytics represents the integrated way to gain insight and analyze geospatial information. Spatial data analysis involves the analysis of different kinds of relationships, patterns, and characteristics. Geospatial analytics applies high-tech techniques such as spatial statistics, spatial interpolation, and spatial modeling in analyzing and interpreting data. Geospatial analytics enables one to discover spatial patterns, detect clusters or outliers in space, and study spatial relationships by analyzing spatial data. This enables decision-making by providing actionable insights on various applications, such as urban planning, environmental management, transportation, and public health.
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Market Dynamics
Driver: Growing demand for location intelligence
The growing demand for location intelligence is one of the driving factors for the advancement in geospatial analytics. Many organizations across various industries have recognized the huge value that spatial insights bring to their operations and decision-making processes. Location intelligence uses geospatial data with business data to better comprehend relationships, patterns, and trends within space. The increased access and availability of multiple sources of geospatial data include satellites, sensors, mobile devices, and social media platforms that further the possibilities for location intelligence within organizations. Integration and analysis to unlock multiple geospatial datasets enable an organization to extract useful information through data-driven decisions derived from spatial understanding. Unlocking multiple geospatial datasets through integration and analysis helps an organization identify valuable information through data-driven decisions led by spatial understanding. These factors have collectively influenced organizations to go in for geospatial analytics solutions that would assist them in competitive advantages for reaping the most benefits of location intelligence.
Restraint: High costs and budget constraints for small and medium-sized enterprises
Geospatial data creation and analysis are widely used in scientific fields, governments, and corporations, but the inherent confidentiality features of location data pose challenges for geospatial research and its societal applications. The increased use of GIS and related geospatial technologies has led to public concern over privacy, and government rules and regulations restrict data gathering, location sharing, usage of location-based information, and data storage. Several data privacy rules, including SPDI and GDPR, govern companies collecting users' location data. This limits the availability of user location data with organizations and may limit the adoption of these geospatial analytics solutions.
Opportunity: Ability to analyze location data for wide range of critical insights
Geospatial analytics allows organizations to analyze location-based data across a wide range of insights fundamental to driving major decisions across several aspects of business talent, operations, marketing, and risk management. Due to the growing proliferation of location-enabled mobile devices, the volume of geospatial data is rapidly growing. Hence, organizations are shifting toward analyzing geospatial data to find some useful patterns that might provide meaningful input for decision-making. Geospatial analytics could provide significant innovation in solving and helping to predict insights. The geospatial analytics market is currently experiencing considerable and steady growth. Organizations realize the power of geospatial technology and utilize it across the enterprise to drive better decision-making and competitive advantage.
Challenge: Cost and infrastructure requirements
The main challenge in geospatial analytics solution implementation is cost and infrastructure requirements. Geospatial analytics demand huge financial investments with strong infrastructural support for their effective application. Organizations must be prepared to invest in buying and updating hardware, software, and licenses. In addition, large-scale geospatial data demands high-performance computing capabilities, storage capacity, and networking infrastructure. Geospatial analytics can be an important source of innovation, helping solve problems and provide predictive insights. The geospatial analytics market is currently experiencing considerable and steady growth. Organizations recognize the value of geospatial technology and leverage it across the enterprise to foster better decision-making and gain a competitive advantage.
By technology, remote sensing to account for the largest market size during the forecast period
Geospatial analytics in remote sensing applies different advanced techniques for the effective extraction of meaningful insights from remotely sensed data. While integrating geospatial data with remote sensing imagery, geospatial analytics helps in the interpretation and analysis of Earth's surface characteristics and phenomena. It has been able to extract various valuable information related to land cover classification, assessment of vegetation health, change detection, and so on about spatial patterns. It is further refined by adding geospatial analytics, which added more tools to image preprocessing, spatial analysis, and visualization. This adds to a better understanding of features and processes on Earth.
By deployment, cloud to account for the largest market size during the forecast period
Geospatial analytics are highly deployed over the cloud segment to utilize the power of cloud computing for advanced geospatial services. Geospatial analytics make use of a combination of geospatial data combined with cloud infrastructure for extensive processing, storage, and analytics of spatial data. A cloud-based geospatial analytics platform provides real-time spatial data processing, distributed computing, and scalability on demand. This enables businesses and other organizations to handle large volumes of geospatial data in an efficient manner. Cloud-based geospatial analytics allow for geospatial visualization, spatial modeling, and spatial data mining to enable users to get deeper insights, make evidence-based decisions, and create innovative geospatial applications for a wide variety of domains, including urban planning, transportation, logistics, and environmental monitoring.
Geospatial Analytics Market Ecosystem
The geospatial analytics market ecosystem comprises of solution providers, service providers, technology providers and tool providers.
By offering, solutions to account for the largest market size during the forecast period
Geospatial analytics solutions will leverage complex capabilities while analyzing and interpreting spatial data in facilitating informed organizational decisions and optimizations. These solutions include tools and techniques for the processing, visualizing, modeling, and predictive analysis of spatial data. The applications of geospatial analytics solutions include urban planning, transportation, and environmental management to agriculture, public health, and natural resource management. It allows users to derive insights from their data through a deeper understanding of trends and anomalies, which helps them arrive at better data-driven decisions. Geospatial analytics solutions will play a crucial role in realizing their full potential about location-based data, innovating many industries by making better decisions.
North America to account for the largest market size during the forecast period
North America to dominate the geospatial analytics market share. Geospatial analytics is highly affecting the region of North America, as it creates innovation, thus transforming industries in every part of the region. By harnessing the power of location-based data, geospatial analytics enables organizations to make smart decisions, optimize operations, and drive economic growth. Geospatial analytics is changing the perspective of urban planning, transport, agriculture, environmental management, and public safety across North America. It helps in effective infrastructure development, better preparedness for and responses to disaster situations, resource management in a sustainable manner, and effective decision-making for businesses and governments. Geospatial analytics enables North America to unlock spatial insights, gain operational efficiency, and build more intelligent and resilient communities by offering data-driven solutions with innovative applications.
Key Market Players
The Geospatial analytics vendors have implemented various types of organic and inorganic growth strategies, such as new product launches, product upgradations, partnerships and agreements, business expansions, and mergers and acquisitions to strengthen their offerings in the market. The major vendors in the global market for Geospatial analytics Esri (US), Precisely (US), Caliper Corporation (US), Blue Marble Geographic (US), Google (US), Alteryx (US), Blue Sky Analytics (Netherlands), HexagonAB (Switzerland), TomTom (Netherlands), Trimble (US), Maxar Technologies (US), RMSI (India), Maplarge (US), General Electric (US), Bentley Systems (US), Fugro (Netherlands), Orbital Insights (US), Mapidea (Portugal), Geospin (Germany), Sparkgeo (Canada), Orbica (New Zealand), Descartes Lab (US), Skymap Global (Singapore), ReMOT Technologies (US), CARTO (US), Pasco Corporation (Japan), Geoviet Consulting (Vietnam), Mandalay Technology (Myanmar), GIS Co. Ltd. (Thailand), Suntac Technologies (Myanmar), Geomatic Consulting International (Vietnam), AAM, A Woolpert Company (Australia), Mappointasia (Thailand), Vegastar Technology (Vietnam), and HERE Technologies (Netherlands).
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Report Metrics |
Details |
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Market size available for years |
2017–2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Forecast units |
USD Million/Billion |
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Segments covered |
Offering, Technology, Vertical, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America |
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Companies covered |
Esri (US), Precisely (US), Caliper Corporation (US), Blue Marble Geographic (US), Google (US), Alteryx (US), Blue Sky Analytics (Netherlands), HexagonAB (Switzerland), TomTom (Netherlands), Trimble (US), Maxar Technologies (US), RMSI (India), Maplarge (US), General Electric (US), Bentley Systems (US), Fugro (Netherlands), Orbital Insights (US), Mapidea (Portugal), Geospin (Germany), Sparkgeo (Canada), Orbica (New Zealand), Descartes Lab (US), Skymap Global (Singapore), ReMOT Technologies (US), CARTO (US), Pasco Corporation (Japan), Geoviet Consulting (Vietnam), Mandalay Technology (Myanmar), GIS Co. Ltd. (Thailand), Suntac Technologies (Myanmar), Geomatic Consulting International (Vietnam), AAM, A Woolpert Company (Australia), Mappointasia (Thailand), Vegastar Technology (Vietnam), and HERE Technologies (Netherlands). |
This research report categorizes the Geospatial analytics market based on Offering, Technology, Vertical, and Region.
By Offering:
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Solutions
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By Type:
- Geocoding and Reverse Geocoding
- Data Integration and Etl
- Reporting and Visualization
- Thematic Mapping and Spatial Analysis
- Others Solutions
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By Deployment:
- Cloud
- On-premises
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By Type:
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Services
- Consulting Services
- Deployment & Integration
- Training, Support, and Maintenance
By Technology:
- Remote Sensing
- GIS
- GPS
- Other Technologies
By Vertical:
- Energy & Utility
- Government
- Defense & Intelligence
- Banking, Financial Services, and Insurance (Bfsi)
- Real estate & Construction
- Healthcare & Life Sciences
- Mining & Natural Resources
- Security
- Logistics & Supply Chain
- Automotive & Transportation
- Agriculture
- Other Verticals
By Region:
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North America
- US
- Canada
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Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
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Asia Pacific
- China
- Japan
- India
- Thailand
- Australia & New Zealand
- Myanmar
- Vietnam
- Rest of Asia Pacific
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Middle East & Africa
- UAE
- Kingdom of Saudi Arabia
- Israel
- Turkey
- Qatar
- South Africa
- Rest of the Middle East & Africa
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Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Recent Developments:
- In May 2023, Google launched Geospatial Creator, which empowers individuals to swiftly create, visualize, and share immersive and augmented reality (AR) content using Unity and Adobe Aero.
- In February 2023, Maxar Technologies received an extension to its contract with the U.S. Army to continue delivering 3D geospatial data for the development of immersive digital environments.
- In July 2022, TomTom collaborated with the Dutch Ministry of Infrastructure and Water Management and five other partners to offer Dutch drivers better and more thorough safety alerts of traffic services.
- In June 2022, Hexagon AB announced the next generation Leica BLK360, providing speed and efficiency and substantially improving reality capturing. Users can travel rapidly and uninterrupted around any environment while viewing and sharing the data as it is being captured, giving them access to real-time updates.
- In February 2021, Trimble and Esri announced a collaboration by integrating the Esri Geospatial Cloud platform into Trimble’s Connected Forest solutions used by both forest owners and product companies. The integration added location intelligence technology designed to transform workflows and provide greater visibility, traceability, and efficiency for the forest industry.
- In June 2020, Maxar Technologies launched the Multi-Domain Analytics System for the US Department of Homeland Security.
Frequently Asked Questions (FAQ):
What is Geospatial analytics?
Geospatial analytics is the method of data collection, data processing, and data presentation based on GIS data and imagery, including GPS and satellite photography. Geospatial data analytics depend upon geographic coordinates along with particular identifiers such as street address and zip code. Geospatial analytics uses data from all kinds of technology, such as GPS, location sensors, social media, mobile devices, and satellite imagery, to build data visualizations for understanding the phenomena and finding trends in the complex relationships between people and places.
Which countries are considered in the European region?
The report includes an analysis of the UK, Germany, France, Spain, and Italy in the European region.
Which are key verticals adopting Geospatial analytics software and services?
Key verticals adopting Geospatial analytics and services include Energy & Utility, Government, Defense & Intelligence, Banking, Financial Services, and Insurance (BFSI), Real Estate & Construction, Healthcare & Life Sciences, Mining & Natural Resources, Security, Logistics & Supply Chain, Automotive, Agriculture, and Other Verticals (Sports, Education, Tourism, and Media & Entertainment).
Which are the key drivers supporting the market growth for Geospatial analytics?
The key drivers supporting the market growth for Geospatial analytics include Growing demand for location intelligence, Continuous advancements in location-based technology to drive market growth, Advancements in technology and computing power, Development of smart cities and urbanization, Higher deployment of IoT sensors across locations, and Advancements in big data analytics.
Who are the key vendors in the market for Geospatial analytics?
The key vendors in the global Geospatial analytics market include Esri (US), Precisely (US), Caliper Corporation (US), Blue Marble Geographic (US), Google (US), Alteryx (US), Blue Sky Analytics (Netherlands), HexagonAB (Switzerland), TomTom (Netherlands), Trimble (US), Maxar Technologies (US), RMSI (India), Maplarge (US), General Electric (US), Bentley Systems (US), Fugro (Netherlands), Orbital Insights (US), Mapidea (Portugal), Geospin (Germany), Sparkgeo (Canada), Orbica (New Zealand), Descartes Lab (US), Skymap Global (Singapore), ReMOT Technologies (US), CARTO (US), Pasco Corporation (Japan), Geoviet Consulting (Vietnam), Mandalay Technology (Myanmar), GIS Co. Ltd. (Thailand), Suntac Technologies (Myanmar), Geomatic Consulting International (Vietnam), AAM, A Woolpert Company (Australia), Mappointasia (Thailand), Vegastar Technology (Vietnam), and HERE Technologies (Netherlands). .
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The research methodology for the global geospatial analytics market report involved the use of extensive secondary sources and directories, as well as various reputed open-source databases, to identify and collect information useful for this technical and market-oriented study. In-depth interviews were conducted with various primary respondents, including key opinion leaders, subject matter experts, high-level executives of multiple companies offering geospatial analytics offerings, and industry consultants to obtain and verify critical qualitative and quantitative information and assess the market prospects and industry trends.
Secondary Research
In the secondary research process, various secondary sources were referred to for identifying and collecting information for the study. The secondary sources included annual reports; press releases and investor presentations of companies; and white papers, certified publications, and articles from recognized associations and government publishing sources.
The secondary research was used to obtain key information about the industry’s value chain, the market’s monetary chain, the overall pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from the market and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from the supply and demand sides of the geospatial analytics market ecosystem were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as chief executive officers (CEOs), vice presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various vendors providing Geospatial analytics offerings; associated service providers; and system integrators operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
After the complete market engineering (including calculations for market statistics, market breakup, market size estimations, market forecast, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. Primary research was also undertaken to identify and validate the segmentation types; industry trends; key players; the market's competitive landscape, and key market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key strategies.
In the complete market engineering process, the top-down and bottom-up approaches and several data triangulation methods were extensively used to perform the market estimation and market forecast for the overall market segments and subsegments listed in this report. Extensive qualitative and quantitative analysis was performed on the complete market engineering process to record the critical information/insights throughout the report.
The following is the breakup of primary profiles:
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Market Size Estimation
For making market estimates and forecasting the geospatial analytics market and the other dependent submarkets, top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global geospatial analytics market, using the revenue from the key companies and their offerings in the market. With data triangulation and validation through primary interviews, this study determined and confirmed the exact value of the overall parent market size. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segments.
The top-down approach prepared an exhaustive list of all the vendors offering geospatial analytics. The revenue contribution of the market vendors was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each vendor’s offerings were evaluated based on the breadth of solution and service offerings, cloud types, organization sizes, and verticals. The aggregate of all the companies' revenues was extrapolated to reach the overall market size. Each subsegment was studied and analyzed for its global market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from industry leaders, such as CIOs, CEOs, VPs, directors, and marketing executives. The market numbers were further triangulated with the existing MarketsandMarkets repository for validation.
In the bottom-up approach, the adoption rate of geospatial analytics solutions and services among different end-users in key countries with respect to their regions contributing the most to the market share was identified. For cross-validation, the adoption of geospatial analytics solutions and services among industries, along with different use cases with respect to their regions, was identified and extrapolated. Weightage was given to use cases identified in different regions for the market size calculation.
All the possible parameters that affect the market covered in the research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The data is consolidated and added with detailed inputs and analysis from MarketsandMarkets.
- The pricing trend is assumed to vary over time.
- All the forecasts are made with the standard assumption that the accepted currency is USD.
- For the conversion of various currencies to USD, average historical exchange rates are used according to the year specified. For all the historical and current exchange rates required for calculations and currency conversions, the US Internal Revenue Service’s website is used.
- All the forecasts are made under the standard assumption that the globally accepted currency, USD, remains constant during the next five years.
- Vendor-side analysis: The market size estimates of associated solutions and services are factored in from the vendor side by assuming an average of licensing and subscription-based models of leading and innovative vendors.
- Demand/end-user analysis: End users operating in verticals across regions are analyzed in terms of market spending on Geospatial analytics solutions based on some of the key use cases. These factors for the Geospatial analytics tool industry per region are separately analyzed, and the average spending was extrapolated with an approximation based on assumed weightage. This factor is derived by averaging various market influencers, including recent developments, regulations, mergers and acquisitions, enterprise/SME adoption, startup ecosystem, IT spending, technology propensity and maturity, use cases, and the estimated number of organizations per region.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Market Definition
According to IBM, geospatial analytics is used to add timing and location to traditional data types and build data visualizations. These visualizations can include maps, graphs, statistics, and cartograms that show historical changes and current shifts.
Key Stakeholders
- Investors and venture capitalists
- Geospatial analytics companies
- Technology services providers
- Government and research organizations
- Association and industry bodies
- Cloud services providers
- Technology consultants
- Value-added resellers
- Satellite service providers
- Market research and consulting firms
- Internet of Things (IoT) analytics vendors
- Analytics solution providers
- Independent software vendors (ISVs)
Report Objectives
- To determine and forecast the global geospatial analytics market by offering (solutions and services), technology, vertical, and region from 2023 to 2028, and analyze the various macroeconomic and microeconomic factors affecting the market growth
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America
- To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the geospatial analytics market
- To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
- To profile the key market players; provide a comparative analysis on the basis of business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the competitive landscape of the market
- To track and analyze competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and research & development (R&D) activities, in the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix provides a detailed comparison of the product portfolio of each company
Geographic Analysis
- Further breakup of the North American market for Geospatial analytics
- Further breakup of the European market for Geospatial analytics
- Further breakup of the Asia Pacific market for Geospatial analytics
- Further breakup of the Latin American market for Geospatial analytics
- Further breakup of the Middle East & Africa market for Geospatial analytics
Company Information
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- Detailed analysis and profiling of additional market players (up to five)
Generating Response ...
Growth opportunities and latent adjacency in Geospatial Analytics Market
At MarketsandMarkets, the report helps to cater to specific requirements like any deep dive information, pricing models, country specific data, vendor specific analysis etc. Geospatial Analytics Report provides a breakdown of the market by technology and an explanation of the difference between the two Technology (in Geospatial Analytics) and collection medium (in Geospatial Imagery Analytics). Geospatial Analytics report also provides a qualitative overview of tools deployed in various collection mediums such as remote sensing using LIDAR, RADAR, GPS, GIS, and other mapping technologies.