Geospatial Solutions Market

Esri (US) and Hexagon (Sweden) are the Leading Players in the Geospatial Solutions Market

The global geospatial solutions market is expected to grow from an estimated USD 239.1 billion in 2019 to USD 502.6 billion by 2024, at a CAGR of 13.2% during the forecast period. The growth of this market is driven by the integration of geospatial technology into mainstream technologies like Internet of Things (IoT), smart robotics, and simultaneous advancements in geospatial with the introduction of artificial intelligence and Big Data.

The global geospatial solutions market is dominated by a few major players that have an extensive regional presence. The leading players in the geospatial solutions market are HERE (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), and Orbital Insights (US).

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The major strategies adopted by the players include new product launches, investments & expansions, mergers & acquisitions, contracts & agreements, partnerships, alliances, joint ventures, and collaborations. Contracts & agreements was the most commonly adopted strategy from February 2016 to February 2019. These industry players also adopted new product launches and mergers & acquisitions as major strategies during that period.

Trimble (US) is a key player in this segment. Its geospatial business segments offer GIS and surveying and geospatial solutions. Its surveying and geospatial portfolio includes solutions such as mapping, 2D or 3D modeling, measurement, reporting, analysis, and land management through field-based technologies for construction, engineering, mining, oil & gas, energy & utilities, and government. Its field-based technologies include handheld mobile, airborne applications, and other technologies such as mobile application software, high-precision GNSS, robotic measurement systems, inertial positioning, 3D laser scanning, digital imaging, optical or laser measurement, and unmanned aerial vehicles. Currently, the company is primarily focusing on organic growth strategies. In 2018, the company’s overall revenue increased by USD 461.9 million due to its organic growth across all segments. Its geospatial segment revenue was increased by USD 64.6 million for 2018–2019. The revenue increase was primarily due to organic growth for optical and GNSS survey products, across most major regions, namely, North America and Europe.

Another major player in the segment is the Environmental Systems Research Institute (Esri) (US). The company is a global market solution provider of GIS, mapping, and spatial analytics software to various industries such as commercial, government, manufacturing, and utilities. The company offers various products such as ArcGIS, ArcGIS Pro, ArcGIS Enterprise for location intelligence, and cloud-based ArcGIS Online. Under this product portfolio, the company offers geospatial and GIS solutions. Esri focuses on its R&D capabilities to gain a competitive advantage over its peers. The company is also focusing on inorganic strategies such as collaborations, mergers & acquisitions, and contracts & agreements. For instance, in February 2018, Esri acquired ClearTerra (US) to 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. The Port Authority of Rotterdam uses ArcGIS to keep operations running smoothly and efficiently.

Related Reports:

Geospatial Solutions Market by Technology (Earth Observation, Scanning), Solution (Hardware, Software, Service), End-User (Utility, Business, Transportation, Defense & Intelligence, Infrastructural Development), Application, Region - Global Forecast to 2024

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Geospatial Solutions Market Size,  Share & Growth Report
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