Top 5 Contenders in the Global Geospatial Analytics Industry

Geospatial analytics has the ability to gather, regulate, and display Geographic Information System (GIS) data and other formats of imagery that includes GPS and satellite photographs. These data strictly rely on geographic coordinates and specific identifiers that include street addresses and zip codes. Data visualization models and geographic models are created for accurate modeling and further prediction of trends. For instance, the ESRI ArcGIS platform recently offered a location-focused platform-as-a-service (PaaS), which will allow for easy integration of location capabilities toward applications, business systems, and other products.

The demand for geospatial analytics is expected to flourish during the forecast period, owing to increased adoption of location-based services across a wider range of industry verticals and rising integration among self-driving automobiles. Smart building operations and infrastructures will fuel the growth of the market. However, the market will also experience a negative impact during the forecast period due to higher costs associated with geospatial analytics solutions. In addition, a lower adoption rate of technology in small & medium-sized companies will limit the growth of the market.

COVID-19 Impact: Geospatial Analytics to Augment Sales During the Pandemic

The outbreak of COVID-19 is expected to have a positive impact on the market by providing huge opportunities in the geospatial analytics sector. Integrated usage of smartphones, robots, and drones is expected to boost the growth of the market during the forecast period. Furthermore, precision mapping and GIS mapping will provide invaluable insights on regulating the response toward a crisis by maintaining a continuous trail of operations. Additionally, understanding and detecting the patterns and origin of COVID-19 cases can further help in monitoring and mitigating the risks of susceptible regions. Geospatial analytics forecasts and examines organizational risk areas and measures for strengthening an uninterrupted business flow.

Fortune Business Insights™ Highlights the Top 5 Major Companies in this Industry

1. Alteryx, Inc. (U.S.)

Alteryx Inc. is one of the dominant companies in the market of geospatial analytics. It generated USD 490.3 million in revenue from sales in 2020. It is responsible for assisting clients in obtaining data-driven insights that lead to great commercial breakthroughs. Alteryx operates two revenue streams, subscription-based software-driven licenses and other range of services. The firm’s built-in network provides a more accessible way for assessing location planning, field services, transportation and logistics services, sales territory regulation, and location-specific marketing solutions. It operates in North America, Latin America, Europe, and Middle East & Africa with approximately 1,450 employees in 2020 and 360 employees working outside the U.S. In May 2021, Alteryx introduced its latest innovation in analytics, data science and automation, and cloud analytics at the Global Inspire Conference.

2. Oracle Corporation (U.S.)

Oracle Corporation assists various industry verticals such as automotive, communication, education, research, financial services, healthcare & retail, media & entertainment, and hospitality. It mainly focuses on three business segments, cloud services, and licenses, hardware, and services. Services include added security measures, enterprise scalability, and assistive performance by providing advanced solutions in the Oracle cloud infrastructure and on-premises. A specialized database allows GIS professionals for deploying geospatial analytics applications with an oversimplified approach. It hired more than 13,300 employees in 2021. In April 2021, Oracle Corporation introduced the “Oracle Spatial Studio 21.1”, which includes various features such as place search, time slider performances in a map, and others.  

3. GENERAL ELECTRIC COMPANY (U.S.)

GE Digital is considered a prominent player in this industry that mainly strives for providing industrial services and software solutions. It operates through five segments, power, renewable energy, aviation, healthcare, and capital. GE Digital generated USD 79.6 billion from sales in 2020. Its services offer rapid and instantaneous access to data for multiple regions across a wide variety of non-spatial systems. This flow of data can be shared across various company verticals, which enables a wider user base by incorporating the ability to visualize, query, analyze, and report additional capabilities. It operates in more than 170 countries and has more than 17,400 employees when last recorded in 2020. In June 2019, GE Digital launched the latest analytics toward advancing electric grid operations, which is expected to help tackle issues using machine learning (ML) and artificial intelligence (AI) based solutions.

4. Economic and Social Research Institute (ESRI) (Ireland)

ESRI supplies web-based GIS software and geodatabase management applications in terms of geospatial analytics. ESRI geospatial cloud further offers the ability to find hidden patterns, relationships, anomalies, and incidents in insurmountable amounts of spatial data, irrespective of format and source. It's ArcGIS GeoAnalytics has the added ability to expand the organization’s capacity by providing a set of expansive analytical tools that can explore data across space and time. It is located in the U.S. with an employee strength of 18,237 globally as of 2020. The recently launched ArcGIS GeoAnalytics Server combines with the existing GIS data, Hadoop Distributed File System (HDFS) which is further integrated with cloud-based services and stores. This platform has the ability to join, merge, and manage datasets using GeoAnalytics Server technologies.

5. Fugro N.V. (Netherlands)

Fugro N.V. is a formidable player in geospatial analytics that aims at providing customized software applications, professional services, and other cost-effective spatial data management solutions that assist with tackling real-world issues. Furthermore, it offers specialized GIS software solutions that integrate extensions and applications by incorporating business procedures, thereby increasing user productivity. The firm also offers a geospatial strategy by creating an internal framework for technical architecture roles, standards, and procedures by increasing user productivity. It operates in more than 60 countries with approximately 9,000 employees globally as of 2020. In April 2021, Fugro N.V. was awarded by the Texas Department of Information Resources (DIR) for a consecutive year for assisting with the state’s Strategic Mapping Program (StratMap) program.

The key factors that will impact the growth of this market in a positive manner are expected to be rising demand for AI-based GIS solutions and increasing demand from smart cities. Rising urban planning and the ongoing pandemic presented various opportunities for the market, satellite monitoring was integrated highly for curbing the spread of the virus. Additionally, the increasing application of AR and VR technologies is expected to increase the foothold of the market dramatically. Despite these promising outlooks for the market, various technological challenges are emerging, including merging of geospatial databases and conversion factors of data into easily plottable visualizations. Each of these factors is expected to impact the market in a distinct manner.