Market Trends of Spain Geospatial Analytics Industry
Increase in Adoption of Smart City Development and Urban Planning
- The increasing adoption of smart city development and urban planning is a major driving factor of the geospatial analytics market in the country. The growing population and increasing need to create sustainable cities coupled is driving the demand for geospatial analytics solutions in the country for efficient urban planning and smart city development. The geospatial analytics solutions can analyze geospatial information for sustainable urban planning, development, and management.
- Further, cities are systems of ever-evolving complexity. Smart city development requires geospatial information that's robust and constantly updated. Geospatial data points the way to improving quality of life and building sustainable communitiesSuch factor has made geospatial analytics solutions an essential tool to transform that data into actionable and meaningful insight and solutions to help urban planners. Thus, in turn, driving the demand for geospatial analytics solutions.
- Further, public sector authorities in Spain analyze the geospatial analytics solutions to leverage geospatial insights, improve efficiency, and create smarter communities. Thus, offering growth potential for geospatial analytics market vendors in the coming years. Additionally, Geospatial analytics enables urban planners to harness the power of location-based data to make informed decisions and help in effective urban planning.
- Moreover, the high degree of urbanization in the country is further driving the demand for geospatial analytics solutions applications for proper and effective urban planning. For instance, according to data from the World Bank, the degree of urbanization in Spain reached 81.3% in 2022. The degree of urbanization in the country increased from 78.9% in 2012 to 81.3% in 2022.
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Defense Sector is Analyzed to Grow at a Significant Rate
- Geospatial analytics solutions are expected to gain substantial traction in the country's defense and intelligence sector. Geospatial data plays a vital role in matters that affect national security, as the professionals working for defense and intelligence can use geospatial data sharing to their advantage. With social media and other platforms generating vast information each second, defense and intelligence agencies can now use geospatial analytics to analyze data and gather actionable insights.
- Moreover, integrating new-age technologies in geospatial analytics solutions is further expected to expand its scope in the country's defense and intelligence sector. Geospatial analytics solutions utilize artificial intelligence (AI) and machine learning (ML) to rectify data processing and analysis issues. Integrating advanced technologies in geospatial analytics solutions allows defense agencies to gain valuable battlespace situational awareness more rapidly and precisely.
- Additionally, the growth in defense expenditure in the country, notably in infrastructure, is analyzed to create substantial growth opportunities for geospatial analytics market vendors to offer solutions to the defense and intelligence sector, enhance national security, and radically transform defense capabilities. For instance, according to NATO data, the defense expenditure in Spain was estimated to be USD 19,179 million in 2023.
- Further, the country is boosting the role of artificial intelligence in the defense sector through various policies and initiatives, such as National AI Strategy. This is expected to create substantial growth opportunities for market vendors to offer AI-powered geospatial analytics platforms in the country's defense sector. An AI-Powered geospatial analytics platform can simplify the geospatial data workflow by preprocessing data, cleansing the data, and applying algorithms for object detection, anomaly detection, or predictive analytics.
