Geospatial Analytics Market Size, Share, and Trends 2024 to 2034

Geospatial Analytics Market (By Component: Software, Services; By Type: Surface & Field Analytics, Network & Location Analytics, Geovisualization; By Solution: Geocoding & Reverse Geocoding, Data Integration & ETL, Report Visualization, Thematic Mapping & Spatial Analysis; By Technologies; By Deployment Mode; By Organization Size; By Application) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

  • Last Updated : August 2023
  • Report Code : 2254
  • Category : ICT

The global geospatial analytics market size was estimated at USD 71.38 billion in 2022 and is expected to hit around USD 261.15 billion by 2032 with a registered CAGR of 13.9% during the forecast period 2023 to 2032. 

Geospatial Analytics Market Size 2023 To 2032

Key Takeaways

  • By component, the software segment has reached 57% revenue share in 2022.
  • By solution type, the geocoding & reverse geocoding segment has captured 43% revenue share in 2022.
  • By deployment mode, the on-premise segment accounted for 71% of revenue share in 2022.
  • By organizational size, the large-scale segment has contributed 69% of revenue share in 2022.
  • By industry vertical, the smart cities segment has held the highest revenue share in 2022.
  • The North America region has captured the largest revenue share of over 46% in 2022.

Growth Factors

One of the significant factors driving the global geospatial analytics market is the technological developments. Kongsberg Geospatial, an Ottawa-based creator of mission-critical and real time geospatial visualization solution and software, and CarteNav Solutions, a foremost supplier of situational consciousness solutions for the land, maritime, and air environments, recently announced that CarteNav had chosen their TerraLens platform to provide geospatial capabilities for its new generation of AIMS mission system software. The demand for services that leverage location-based solutions is likely to rise as smart city investments increase. Furthermore, according to the Consumer Technology Association, smart city spending reached USD 14.85 billion in 2015 and is expected to reach USD 34.35 billion by 2020.

There is a strong demand for the implementation of 5G technology in order to capture precise geographical data. Geospatial analytics vendors are seeing significant growth prospects. The market is developing on three primary spectrum bands such as low, mid, and high. As the 5G infrastructure takes shape, there is a growing demand for geospatial technology in a variety of industries. All of these elements are contributing to the growth of the geospatial analytics industry. The market is predicted to increase significantly throughout the forecast period, thanks to increasing penetration and adoption of the internet of things around the world, as well as the advent of artificial intelligence and big data analysis.

Geospatial Analytics Market Scope

Report Coverage Details
Market Size in 2023

USD 80.94 Billion

Market Size by 2032

USD 261.15 Billion

Growth Rate from 2023 to 2032 CAGR of 13.9%
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Component, Type, Solution, Technologies, Deployment Mode, Organization Size, Application, and Geography
Companies Mentioned Harris Corporation, RMSI, DigitalGlobe, Inc., Fugro N.V., Hexagon AB, ESRI, General Electric Co., MacDonald, ettwiler & Associates, Ltd., Trimble Navigation LTD., Bentley Systems, Inc.

 

Component Insights

The software segment dominated the geospatial analytics market in 2022. Enterprises can use geospatial analytics software to locate, evaluate, and respond to changing business circumstances and trends. The market players have commenced to involve in geospatial analytics in order to enhance suppleness and overall operational output, better comprehend business trends, and reduce expenses. The software sector can be thought of as the most advantageous component for generating high-level insights from location data.

Geospatial Analytics Market Share, By Component, 2022 (%)

The service segment is the fastest growing segment of the geospatial analytics market in 2022. Analytics are being used by government agencies and public safety organizations to monitor natural resources, infrastructure projects, detect cross-border incursions, and improve vehicle safety and security. Businesses are also providing Geospatial Analytics-as-a-Service.

Type Insights

The surface and field analytics segment dominated the geospatial analytics market in 2022. The growth of surface and field analytics segment is attributed to the rising acceptance and adoption by private and government firms. In addition, the growing number of infrastructure development projects are also supporting the growth of the overall market. 

The network and location analytics segment is fastest growing segment of the geospatial analytics market in 2022. The technology aids in the improvement of data analytics' functionality, utility, and relevance. It can also analyze and organize enormous amounts of data in real time in order to obtain actionable business insights. It also enables marketers to visualize, comprehend, and interpret data in a variety of ways to demonstrate links, trends, and patterns using globes, maps, charts, and reports. This is critical for every business that wants to grow, expand into new markets, and satisfy customers.

Application Insights

The military intelligence segment dominated the geospatial analytics market in 2022. Strategic intelligence plays an important role in modern military strategies. Strategic intelligence relies heavily on geospatial data. Many countries are constantly strengthening their military as a result of current military confrontations between big economies. Border security operations can use geospatial data to give situational awareness information, enabling quick decision-making, and improve national security.

The surveying segment is fastest growing segment of the geospatial analytics market in 2022. This is due to its widespread adoption in agricultural and natural resource monitoring. During the projected period, however, the military intelligence segment is expected to increase at the quickest rate. This could be due to an increase in the number of remote sensing satellites used for border patrols around the world, necessitating the usage of geospatial analytics.

Geospatial Analytics Market Share, By Region, 2022 (%)

Regions Revenuie Share in 2022 (%)
North America 46%
Asia Pacific 19%
Europe 24%
Latin America 6%
MEA 5%


Regional Insights

Asia-Pacific dominated the geospatial analytics market in 2022. China and India dominated the geospatial analytics market in Asia-Pacific region. The growth of geospatial analytics market in Asia-Pacific region is being driven by the growing government initiatives. The Chinese government launched its first thorough geography census in 2018. It will be used to report on the country's overall position as well as statistics on land and soil, water, and agriculture, which will serve as a firsthand reference for policies. In addition, the growing trend of mobility as service facility is also boosting the growth of Asia-Pacific geospatial analytics market. Morgan Stanley estimates that shared miles will account for 35 percent of all miles travelled in India. Along with a continuing huge shift in terms of electrification, sharing, and connectivity, this is one of the primary driving opportunities for new business models in the mobility business.

North America, on the other hand, is expected to develop at the fastest rate during the forecast period. The U.S. dominates the geospatial analytics market in North America region. One of the key drivers driving the growth of North America geospatial analytics market is the growing adoption of innovative and latest technologies such as internet of things, big data analytics, artificial intelligence, and cloud computing. Furthermore, the rising demand for high-speed internet is also supporting the growth of North America geospatial analytics market. 

Key Market Developments

  • Trimble stated in June 2021 that it has added a geotechnical collection to its geospatial automated monitoring portfolio as a result of a relationship with Worldsensing, a wireless connectivity technology provider and an industry-leading maker of geotechnical internet of things monitoring solutions. With a comprehensive system that includes geotechnical and geospatial data, geotechnical, survey, and structural engineers will be able to easily increase their monitoring business prospects.
  • Hexagon AB will present its Smart M App portfolio in September 2018, a simple to use platform for creating lightweight and dynamic applications that answer a specific need. To provide geospatial analytics as a service, the solution combines content, business operations, and geoprocessing into a single application.
  • With regard to the Oracle database, Oracle Corporation added to its idea of machine learning, as well as spatial and graphic elements. This occurred in December 2019 and assisted in the dissemination of a feature that could be useful for deployment and development purposes.
  • ESRI announced in May 2021 that ArcGIS Insights, its location analytics product, now assists connecting to cloud-native databases like Snowflake, Amazon Redshift, Google BigQuery, Microsoft Azure SQL, and others, which many establishments have been accepting for cost of ownership, scalability, and performance motives. This makes it simple for companies to combine GIS data and cloud-native databases for analysis.

Segments Covered in the Report

By Component

  • Software
    • Mapping
    • Spatial Analysis
    • Geo-visualization
    • Data Management
  • Services
    • System Integration
    • Training & Geo-consultation
    • Support & Maintenance 

By Type

  • Surface & Field Analytics
  • Network & Location Analytics
  • Geovisualization
  • Others

By Solution

  • Geocoding & Reverse Geocoding
  • Data Integration & ETL
  • Report Visualization
  • Thematic Mapping & Spatial Analysis

By Technologies

  • Remote Sensing
  • Global Positioning System
  • Geographic Information System
  • 3D Scanning

By Deployment Mode

  • Cloud
  • On-premises

By Organization Size

  • Large Enterprises
  • SMEs

By Application

  • Surveying
  • Medicine & Public Safety
  • Military Intelligence
  • Disaster Risk Reduction & Management
  • Marketing Management
  • Climate Change Adaptation (CCA)
  • Urban Planning
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

If you have questions about this insights, please email at sales@precedenceresearch.com

Frequently Asked Questions

The global geospatial analytics market size was accounted at USD 71.38 billion in 2022 and it is expected to reach around USD 261.15 billion by 2032.

The global geospatial analytics market is poised to grow at a CAGR of 13.9% from 2023 to 2032.

The major players operating in the geospatial analytics market are Harris Corporation, RMSI, DigitalGlobe, Inc., Fugro N.V., Hexagon AB, ESRI, General Electric Co., MacDonald, ettwiler & Associates, Ltd., Trimble Navigation LTD., Bentley Systems, Inc.

The geospatial analytics market is driven by increasing penetration and adoption of the internet of things around the world, as well as the advent of artificial intelligence and big data analysis these are driving the growth of the geospatial analytics market.

North America region will lead the global geospatial analytics market during the forecast period 2023 to 2032.

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