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Market Leader - Geospatial Analytics Market

The geospatial analytics market size is estimated at USD 40.65 billion in 2018 and is projected to reach USD 86.32 billion by 2023, at a CAGR of 16.3% during the forecast period. The market is projected to witness a massive growth during the forecast period, majorly driven by the increasing penetration of Internet of Things (IoT), integration of geospatial technology with mainstream technologies, and advancements in geospatial analytics with the introduction of artificial intelligence and big data analytics. With the introduction of artificial intelligence and big data in the geospatial analytics market, geospatial analytics provide better and less expensive geospatial data to organizations across the globe.

Major players operating in the geospatial analytics market include Alteryx (US), DigitalGlobe (US), Fugro N.V. (Netherlands), Hexagon (Sweden), RMSI (India), SAP (Germany), Trimble Navigation (US), Maxar Technologies (Canada), MapLarge (US), Harris Corporation (US), Bentley Systems (US), ESRI (US), General Electric (US), Pitney Bowes (US), Oracle (US), and Google (US). These players have adopted strategies such as new product launches, partnerships, collaborations, and acquisitions to strengthen their product portfolios and enhance their presence in the geospatial analytics market.

Environmental Systems Research Institute (ESRI) (US), a key player in the geospatial analytics market has adopted both, organic and inorganic growth strategies to strengthen its foothold in the market. For instance, in June 2017, ESRI launched WhereNext, an online resource that provides a revealing look at the role of location in Internet of Things (IoT), digital transformation, big data analytics, and smart communities. In February 2018, ESRI acquired ClearTerra (US), a leader in geospatial and activity-based intelligence tools. This acquisition will provide ArcGIS platform users the ability to easily discover and extract geographic coordinates from unstructured textual data such as emails, briefings, and reports, instantly generating intelligent map-based information.

Pitney Bowes (US), another key player in the geospatial analytics market, adopted both organic and inorganic growth strategies to enhance its market presence. For instance, in May 2016, Pitney Bowes announced the release of sophisticated software solutions designed to unearth contextual insights to enhance the value of business data. Similarly, in December 2015, Pitney Bowes opened a new office in Gurgaon, India to help provide more client value and client-focused innovations to key customers in India. This expansion marked its eighth office in India.

Related Reports:

Geospatial Analytics Market by Component (Software & Solution, Service), Type (Surface & Field Analytics, Network & Location Analytics, Geovisualization), Application (Surveying, Medicine & Public Safety), Vertical, and Region - Global Forecast to 2023

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