Nordics Geospatial Analytics Market Size (2024 - 2029)

Nordics Geospatial Analytics Market Analysis

The Nordics Geospatial Analytics Market is expected to register a CAGR of 10.84% during the forecast period.

The growth is majorly attributed to the significant usage of these solutions for better visualization of real-time situations in telecom, military, urban planning, and other applications.

• Geospatial analytics is acquiring, manipulating, and displaying imagery and data from the geographic information system (GIS), such as satellite photos and GPS data. The specific identifiers of a street address and a zip code are used in geospatial data analytics. They are used to create geographic models and data visualizations for more accurate trend modelling and forecasting.
• The growing smart city implementation projects in the region are one of the major driving factors for the market. For instance, despite an interruption in momentum during the pandemic, Stockholm is still on its way to becoming the world's smartest city by 2040. It's a government-declared goal in this city that aligns with the city becoming carbon neutral by 2040. Digital infrastructure, from the Internet of Things to 5G and data centres for edge processing and edge computing, will play a critical role in providing the future's services. As geospatial analytics play a crucial role in providing accurate data, the demand is analyzed to grow.
• Further, the market is driven by the increasing number of AI-based GIS solutions, advances in Big Data Analytics, the growth of smart cities, urbanization, the Internet of Things, and the integration of sensors in all sectors. Companies are able to gain increased insight through AI and machine learning capabilities in combination with spatial data.
• Combining AI and machine learning with geographical solutions saves significant time and resources. It allows the completion of tasks such as picture classification, object identification, Semantic Classification, and instance segmentation. Geospatial Analytics solution providers, as AI and ML technologies improve, may provide clients with more sophisticated Spatial solutions in several business sectors that allow them to be deployed more effectively. Therefore, these factors are analyzed to boost the market growth rate during the forecast period.

Nordics Geospatial Analytics Industry Segmentation

Geospatial Analytics adds timing and location to conventional data types and creates data visualizations. Maps, graphs, statistical data, and cartograms showing historical or current change may be included in these visualizations. A clearer picture of events is possible by means of this further context. This would allow predictions to be executed faster, simpler, and more accurately.

The Nordics geospatial analytics market is segmented by type (surface analysis, network analysis, geovisualization), end user vertical (agriculture, utility and communication, defence and intelligence, government, mining and natural resources, automotive and transportation, healthcare, real estate, and construction). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.