Market Trends of Italy Geospatial Analytics Industry
The Increase in the Number of Smart Cities in The Country Fuels the Market Growth
- Smart cities in the country use technologies to develop and deploy sustainable practices that address various urbanization challenges, such as minimizing traffic and improving air quality by collecting and analyzing multiple data points that can optimize a city's infrastructure, which would fuel the market for geospatial analytics solutions in the Country.
- For instance, in April 2023, TIM S.p.A, a telecom provider of the country, published a report stating that an increasing number of municipalities in Italy have started to plan smart cities and, according to estimates, by 2027, investments in ICT solutions for intelligent cities would grow to approximately USD 1.75 Billion, which would include AI-based solutions and would create an opportunity for the vendor's geospatial analytics solutions in the country.
- Additionally, in November 2022, The European Investment Bank (EIB) planned to provide approximately USD 220 million in framework loans to support the municipality of Florence's investment plan for 2022-2027 in Italy, which includes the Smart City planning and climate strategies to improve the city's resilience to future calamities such as earthquakes and floods. These investments in the country's intelligent city planning would increase the demand for geospatial analytics solutions.
- Smart Cities' growth in the country has led to the advancement in Italy's water supply. City administrations and Utility companies prioritize managing water collection intelligently by reducing wastage by implementing geospatial analytics-based solutions, which would drive the market in the country.
- For instance, the Italian multi-utility, HERA Group, has adopted an artificial intelligence-based geospatial analytics solution to target maintenance and detection activities across its pipeline network in Italy to reduce the annual water wastage cost of the country.
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The Government Sector Contributes a Significant Portion to the Market Growth
- The Italian government has been adopting geospatial analytics-based solutions in its services by partnering with many global satellite data providers to enable its decision-makers at the national level in multiple policy areas, from healthcare, agriculture, defense, etc., which would drive the demand for the market in the country.
- For instance, in October 2022, The Government of Italy signed a partnership with European Centre for Medium-Range Weather Forecasts to launch a new model for collaboration between Italian national organizations and Copernicus Services, which would facilitate the use of Copernicus earth data products in Italy and would support the adoption of geospatial analytics solutions in the government sector of the country.
- GeoSpatial Analysis solutions include easy and efficient access to data from spatial systems, which can be shared across a broad range of government services of the country, increasing their visualization, analysis, and reporting capabilities to implement developmental plans economically in Italy, creating a demand for the market in the forecast period.
- For instance, in May 2023, the international trade administration reported that to accelerate Italy's digital transformation, the Italian government launched National Strategic Hub in December 2022 to host the critical and strategic data of the country's public administration entities, which would support the adoption of geospatial analytics solutions in the government sector because the spatial data used in the answers can be stored in the hub created by the country's government.
- Additionally, in January 2023, the archeological department of the country launched a project called Pompeii I.14 for the archeological study of the ancient city of Pompeii in southern Italy, which includes the application of geospatial technology to collect data more efficiently and accurately, which would increase the demand for geospatial analytic solutions in the country to organize, analyze, visualize, and share the data that's being discovered at the site.
