Geospatial Analytics Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 86.39 Billion |
| Market Size (2029) | USD 157.80 Billion |
| CAGR (2024 - 2029) | 12.81 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Geospatial Analytics Market Analysis
The Geospatial Analytics Market size is estimated at USD 86.39 billion in 2024, and is expected to reach USD 157.80 billion by 2029, growing at a CAGR of 12.81% during the forecast period (2024-2029).
- Geospatial analysis manipulates, collects, and displays geographic information system (GIS) data and imagery, such as satellite and GPS imagery. Geospatial analysis is based on geographic coordinates and specific identifiers, including street or postal codes.
- In this data-driven industrial age, location information and spatial data using interconnected technologies (augmented reality, big data, artificial intelligence, machine learning, IoT, and 3D technology) are transforming the core of traditional business practices, driving the competitive advantage through data visualization. The need for geospatial content, real-time data, and services at the consumer application and enterprise level is constantly increasing.
- 5G is also expected to aid in addressing environmental challenges such as disaster management and climate change through digital mapping and location intelligence technologies. The connectivity, speed, and capacity of 5G and IoT are expected to reduce greenhouse gas emissions, improve energy efficiency, and enable better renewable resource use. 5G is also anticipated to help improve decision-making about weather, vegetation, and waste management, increasing the requirement for geospatial analytics.
- The driving factor is the increasing acceptance of smart city development. Geospatial analytics solutions have become the platform for smart city growth. Geographic information system (GIS) has become an integral part of everyday life in smart cities. GIS provides an IT infrastructure that integrates all stakeholders and all smart city processes, from planning and design to development and maintenance.
- Geospatial data creation and analysis are extensively utilized in governments, corporations, and scientific fields. Still, the inherent confidentiality features of location data create obstacles for geospatial research and its societal applications. The public concern over privacy was raised with the increasing usage of GIS and related geospatial technologies, and government rules and regulations restrict data gathering, location sharing, usage of location-based information, and data storage. This is expected to hinder the market's growth.
- However, many companies are updating their solutions to automate ML and AI technologies to offer accurate insights. With the advent of 5G technology, this trend will continue to increase during the forecast period. New start-ups are expected to boost the demand for the geospatial analytics market in the near future.
Geospatial Analytics Market Trends
Defense and Intelligence to be the Largest End-user Industry
- The geospatial systems allow the military to identify the locations of troops, bases, and important related information through GIS technology. The technology is used for defense site management for the military to manage bases and detachments across all levels of command. It can track troop movements, locate resources, and plan missions. It is also used in identifying targets for air-to-ground bombing missions. It has helped the military with target identification by providing various levels of topographical detail for a designated area of interest.
- According to the official sources in defense and security establishments, Geospatial data plays a vital role in a broad spectrum of critical data management applications, such as disaster, military operations and emergency management, environmental monitoring, and land and city planning.
- Furthermore, advancement in Geospatial technology enables more precise mapping of planets and additional celestial bodies than ever possible, turning the data and pictures that satellites and rovers send back into a wealth of spatial information. Although no astronaut has yet set foot on Martian soil, scientists have become highly familiar with the terrain's qualities with the help of Geospatial analytics.
- Planetary maps and mosaics generated from the spatial information gathered from these efforts build an understanding of the geology, topology, and landscape of distant objects in space. The US Geological Survey's Astrogeology Science Center delivers access to the images and data collected by various missions, including New Horizons, for use by researchers and the public. The database features visuals from the moon, Mars, Pluto, Saturn, Mercury, and more, with the compatibility to use geospatial analytics technology for further analysis.
- Moreover, increasing government investments in this sector may further propel the studied market demand in the projection period. For instance, According to SIPRI, in 2022, military spending worldwide amounted to USD 2.24 trillion, the highest during the period under consideration.
North America to Hold Significant Market Share
- The growth of the construction industry in the US and Canada is anticipated to increase the demand for 3D Mapping, and modeling is expected to grow during the forecast period, as the building process uses sophisticated 3D Mapping and geospatial analytics to create realistic modeling, which is preferable to using rolls of blueprints. This is further fueling the market's demand in the region.
- Therefore, companies are adopting location-tracking solutions to track and monitor their employees and what they come in contact with. Furthermore, location analytics can assist in defining the spatial boundaries to restrict inter-team communication within an organization.
- In November 2022, Sateliot, the United States-based nanosatellite telecommunications company to provide 5G connectivity for IoT devices, introduced its functional nanosatellite aboard a SpaceX Falcon 9 rocket to accelerate the massive IoT adoption and shift the IoT industry into cheap global connectivity, bringing a technological innovation on par with the introduction of GPS. Sateliot intends to resolve these problems by introducing a network of small, powerful satellites to offer total, reliable coverage to each corner of the world, including disaster zones, oceans, and remote regions. Moreover, this technology will work for anyone with any standard IoT device, regardless of operator.
- For instance, in November 2022, AWS IoT Core, a managed cloud service that allows users to connect billions of IoT devices and routes trillions of messages to AWS services, introduced AWS IoT Core Device Location. This advanced feature makes it possible for users to manage and track IoT devices leveraging their location data, such as longitude and latitude coordinates. Customers can optimize their business processes, streamline and simplify maintenance efforts, and unlock new use cases by using Amazon Web Services IoT Core Device Location. For instance, users' field service teams can stay informed and easily identify the location of devices that need maintenance action. Global Positioning Service (GPS) is a commonly applied standard to locate an IoT device in an IoT application.
- Moreover, adopting cloud-based GIS and the surge in the application of VR and AR technologies in geographic information systems are anticipated to have a significant impact on the market growth during the forecast period.
Geospatial Analytics Industry Overview
The geospatial analytics market is characterized by consolidation, with several prominent companies dominating specific regions and countries. These key players include ESRI Inc., General Electric (GE), Hexagon AB, MDA Corporation, Bentley Systems, Inc., Trimble Geospatial, and others. These industry giants employ various strategies to maintain a competitive edge.
In July 2023, Locana, an international spatial technology provider, joined forces with OpenStreetMap US, a nonprofit organization dedicated to supporting and expanding the OpenStreetMap (OSM) project. OSM aims to enhance access to high-quality geographic data, reduce the cost of utilizing location intelligence, and enable more organizations to leverage insights derived from location data.
In February 2023, GE Renewable Energy's Grid Solutions business secured a multi-million dollar contract from the Nepal Electricity Authority (NEA). This agreement involves the automation of 39 substations with varying ratings across Nepal. Additionally, it encompasses the construction of six Master Control Centers (MCCs), marking a significant development in Nepal's electrical infrastructure.
Geospatial Analytics Market Leaders
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ESRI Inc.
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MDA LTD.
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Hexagon AB
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TRIMBLE INC.
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Bentley Systems, Inc.
*Disclaimer: Major Players sorted in no particular order
Geospatial Analytics Market News
- June 2023: Intermap Technologies leveraged its high-resolution elevation data access to perform imagery correction services for a national government organization to support the development projects in El Salvador and Honduras in Central America. In partnership with GeoSolutions, Intermap enables the creation of precision maps that are invaluable resources in supporting community safety and resiliency.
- March 2023: Mach9, the company building the fastest technologies for geospatial production, introduced its first product. The new product leverages computer vision and AI to produce faster 2D and 3D CAD and GIS engineering deliverables. This product launch comes amidst Mach9's pivot to a software-first business model, which is a move that is primarily driven by the rising demand for tools that accelerate geospatial data processing and analysis for infrastructure management.
Geospatial Analytics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increase in Adoption of Smart City Development
5.1.2 Introduction of 5G to Boost Market Growth
5.2 Market Challenges
5.2.1 High Costs and Operational Concerns
5.2.2 Legal Hurdles
5.3 Assessment of Impact of COVID-19 on Geospatial Analytics Market
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Surface Analysis
6.1.2 Network Analysis
6.1.3 Geovisualization Analysis
6.2 By End-user Vertical
6.2.1 Agriculture
6.2.2 Utility and Communication
6.2.3 Defense and Intelligence
6.2.4 Government
6.2.5 Natural Resources
6.2.6 Other End-user Verticals
6.3 By Geography***
6.3.1 North America
6.3.2 Europe
6.3.3 Asia
6.3.4 Australia and New Zealand
6.3.5 Latin America
6.3.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 ESRI Inc.
7.1.2 MDA LTD.
7.1.3 Hexagon AB
7.1.4 TRIMBLE INC.
7.1.5 Bentley Systems, Inc.
7.1.6 Fugro NV
7.1.7 L3harris Technologies, Inc.
7.1.8 ATKINS PLC (SNC LAVLIN GROUP)
7.1.9 General Electric (GE)
7.1.10 Critigen LLC (Locana Formerly CRITIGEN)
7.1.11 Intermap Technologies Inc.
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Geospatial Analytics Industry Segmentation
Geospatial analysis uses the data to build infrastructure, graphs and blueprints, statistics, and cartograms, making complex relationships understandable by collecting information, displaying images, geographical coordinates, etc. It monitors the climate and weather, helps retail stores plan their logistics transportation and human population forecasting, and many other solutions depending on the industry.
The geospatial analytics market is segmented by type (surface analysis, network analysis, and geo-visualization), end-user industry (agriculture, utility and communication, defense and intelligence, government, natural resources, and other end-user industries), and geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Surface Analysis | |
| Network Analysis | |
| Geovisualization Analysis |
| By End-user Vertical | |
| Agriculture | |
| Utility and Communication | |
| Defense and Intelligence | |
| Government | |
| Natural Resources | |
| Other End-user Verticals |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Geospatial Analytics Market Research FAQs
How big is the Geospatial Analytics Market?
The Geospatial Analytics Market size is expected to reach USD 86.39 billion in 2024 and grow at a CAGR of 12.81% to reach USD 157.80 billion by 2029.
What is the current Geospatial Analytics Market size?
In 2024, the Geospatial Analytics Market size is expected to reach USD 86.39 billion.
Who are the key players in Geospatial Analytics Market?
ESRI Inc., MDA LTD., Hexagon AB, TRIMBLE INC. and Bentley Systems, Inc. are the major companies operating in the Geospatial Analytics Market.
Which is the fastest growing region in Geospatial Analytics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Geospatial Analytics Market?
In 2024, the North America accounts for the largest market share in Geospatial Analytics Market.
What years does this Geospatial Analytics Market cover, and what was the market size in 2023?
In 2023, the Geospatial Analytics Market size was estimated at USD 75.32 billion. The report covers the Geospatial Analytics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Geospatial Analytics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key considerations for integrating geospatial analytics into existing business processes?
The key considerations for integrating geospatial analytics into existing business processes are a) Data compatibility b) Choosing the right tools c) Employee training needs for successful integration
Geospatial Analytics Industry Report
The geospatial analytics industry is witnessing remarkable growth, fueled by the escalating demand for location intelligence and the advent of cutting-edge technologies like IoT, AI, and ML. This growth is propelled by the global adoption of 5G, the critical need for supply chain optimization, and the integration of geospatial analytics with cloud computing. Leveraging data from GPS, drones, and satellites, the industry enables comprehensive analysis of demographic and environmental data for informed decision-making. The emergence of web-based GIS platforms has revolutionized access to geospatial data, allowing for remote analysis from anywhere with internet connectivity. Despite facing challenges such as high costs and the need for a skilled workforce, the industry's expansion is underscored by its pivotal role in urban planning, environmental monitoring, and logistics. With insights from Mordor Intelligence™ Industry Reports, which offer a detailed market forecast and historical overview, stakeholders can navigate the geospatial analytics market's dynamics, size, and revenue growth rate, further emphasizing the sector's potential and innovation in creating data-driven solutions across various domains. Get a free report PDF download for a detailed industry analysis.
