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Geospatial Analytics Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, Services), By Deployment (Cloud, On-premises), By Enterprise Size (Large Enterprises, SMEs), By Application (Disaster Management and Risk Reduction, Public Safety and Medicine Delivery, Surveying, Climate Change Adaptation, and Others), By End-User (Defense and Internal Security, Retail & Logistics, Government, BFSI, Energy & Utilities, Agriculture, Healthcare & Life Sciences, Infrastructure & Urban Development, and Others), and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI102219

 

KEY MARKET INSIGHTS

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The global geospatial analytics market size was USD 56.88 billion in 2020. The market is projected to grow from USD 63.61 billion in 2021 to USD 147.58 billion in 2028 at a CAGR of 12.8% during the 2021-2028 period. The global market size is inclusive of several geospatial solutions such as thematic mapping and spatial analysis, geocoding and revere geocoding, data integration& ETL tools, among others. The global impact of COVID-19 has been unprecedented and staggering, with geospatial analytics solutions witnessing a positive demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a significant growth of 11.7% in 2020 as compared to year-on-year growth during 2017-2019. The steady rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.


Governments all around the world are investing in the development of a space borne and airborne surveillance system to improve national, regional, and global emergency response capabilities as well as to promote human health, security, and well-being. The rising number of AI-based GIS solutions, advancements in Big Data analytics, the rise of smart cities and urbanization, and integration of IoT sensors across industries are all propelling the market. Additionally, product launches and strategic initiatives by key players are expected to contribute to the geospatial analytics market growth. For instance;



  • In July 2020, GoodData Corporation expanded its geo-mapping capabilities to better meet the needs of organizations seeking location data insights to aid strategic decision-making. Companies can now give the most complete geolocation support for market trend evaluation, asset tracking and monitoring, site selection, and other critical business needs using this new set of analytical visualizations and modeling techniques.


COVID-19 IMPACT


Geospatial Analytics Solutions Helping Governments and Healthcare Agencies to Manage Drug Delivery and Emergency Response Management


The outbreak of COVID-19 had a minor impact on the global market with some players witnessing reduced solution and product demand. During the pandemic, the expansion of transportation and logistics, manufacturing, and retail sectors was hampered by stringent lockdown rules and the suspension of import-export activities by several governments. Verticals, including healthcare and life sciences, energy, and utilities, on the other hand, are rapidly embracing geospatial and location-based platforms and services.


While geospatial data and technology are assisting governments throughout the world in answering important COVID-19 issues, each nation faces its own set of challenges that affect response efforts. Location intelligence and geospatial technologies are helping healthcare companies and governments in medical supply and drug delivery, vaccine distribution, and analysis of rising cases particular to locations. For instance, ArcGIS Solutions developed by Esri in December 2020 is helping businesses and healthcare communities to manage vaccine distribution plans and monitor key vaccine distribution metrics.


The long-term growth of the global market would be driven by increased adoption of GIS and geolocation technologies across healthcare, retail, and military verticals. Maps and GIS give significant insights to aid businesses in responding to the crisis, maintaining operational continuity, and assisting in the reopening process. GIS, analytics, and Big Data are some of the technologies that are expected to gain exponential growth over the upcoming years. The GIS-based comparison study is assisting in the understanding and analysis of COVID-19's source and pattern.


LATEST TRENDS


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Penetration of Geospatial Artificial Intelligence (Geo AI) Will be a Prominent Trend


Artificial intelligence (AI) has progressed to a whole new level of effectiveness mainly owing to technological and scientific advancements in the previous century. As a result, AI is increasingly being used in medical and healthcare, geospatial technologies, business solutions, and other industries, particularly with the integration of cloud computing and high-performance computing capabilities. Geospatial Artificial Intelligence (Geo AI) practices comprise AI and geospatial analytics technology. The massive increase in computational power is helping introduce technological advancements. GeoAI is a new scientific field that integrates advances in spatial science, machine learning, deep learning, data mining, and high-performance computing to extract knowledge from geographic datasets. Key players are launching AI-integrated geospatial and location intelligence solutions. For instance,



  • In March 2018, Microsoft Corporation partnered with Esri to launch geospatial AI technology on the Microsoft Azure platform to offer better managing, gathering predicting, and analyzing location-based data.


AI and machine learning capabilities combined with geospatial data provide companies with enhanced insights. The integration of AI and machine learning with geographical solutions saves a lot of time and money. It allows tasks, such as picture classification, object recognition, semantic segmentation, and instance segmentation, to be completed. Geospatial analytics solution providers will be able to deliver advanced spatial solutions to clients in many business verticals and deploy them much more efficiently as AI and ML technology advances.


DRIVING FACTORS


Widespread Applicability and Advancements in Location-Based Technology (LBT) to Drive Market Growth in Long-Term


Location-based services are widely utilized in a variety of verticals, including retail, mining, transportation, construction, and urban planning. Businesses and agencies are widely using location-based services integrated with Geographical Information System (GIS) technology to for a variety of applications, including geospatial modelling, route optimization, asset tracking, and others to offer better consumer-focused services. Facility managers, for example, utilize GIS technology to support a variety of business processes and information systems for tasks, such as building condition assessment, space utilization optimization, and route mapping. GIS and Global Positioning System (GPS) technologies are growing beyond their conventional uses to include a slew of consumer-focused, location-based applications. According to a survey conducted by Information and Communications Technology for Development (ICT4D), Catholic Relief Services (CRS) and Devex, geospatial and mapping technology will be one of the top 5 technologies and 78% respondents believe that the technology would have progressive effect on global digital transformation.


Strategic initiatives by prominent technology players are expected to intensify the market competition in overall competition landscape. For instance,



  • In January 2020, Esri, a global leader in location technology partnered with Open Systems International, Inc. (OSI) to offer utility companies Esri's ArcGIS Utility Network Management as a part of GIS technology and OSI's operational technology (OT) platform.


Such initiatives by key players to attract new customer base are projected to drive the market growth in near future. Rapid advancement in geospatial technologies, particularly location-based data services, is expected to give impetus to the global market. Furthermore, the growing usage of cloud-based GIS platforms is expected to enhance market growth in the coming years. Complexity associated with storing and administration of location-based data has enforced companies to prefer cloud-based geographic information systems to achieve cost savings, improved productivity, and effective data management practices.


RESTRAINING FACTORS


Associated High Costs and Budget Constraints for Small & Medium-Sized Enterprises to Hinder Market Growth


With the increased use of GIS and related geospatial technologies, there has been an increase in public concern over privacy. Geospatial data creation and analysis are ubiquitous in most scientific fields, as well as in governments and corporations. However, geospatial research and its societal applications face particular hurdles due to the inherent confidentiality features of location data. Data gathering, location sharing, usage of location-based information, and data storage are all restricted by government rules and regulations. Companies that are collecting users’ location data have to comply with various data privacy rules such as Sensitive Personal Data or Information (SPDI) and General Data Protection Regulation (GDPR). As a result, the availability of user location data with organizations is limited which could limit the adoption of these analytics solutions.


SEGMENTATION


By Component Analysis


Solution Segment Captured Maximum Market Share


Based on component, the global market has been segmented into solution and services.


Geospatial analytics solution accounted for the largest market share in 2020 and is expected to maintain its dominance over the forecast period. The solutions cover data integration and ETL, geocoding and reverse geocoding, thematic mapping & spatial analysis, and reporting & visualization, and others. Enterprises have started integrating geospatial type of analytics solutions and tools to locate, evaluate, and respond to changing business circumstances and trends. Companies have begun to engage in geospatial analytics to improve agility and overall operational productivity, get a better knowledge of business patterns, and save operational expenses.


Geospatial analytics services are expected to grow at the highest CAGR over the forecast period. The service segment comprises support and maintenance services for thematic mapping and data, image processing services, GIS consulting services, and others. The development of various geospatial analytical solutions and adoption of location intelligence technology are expected to drive the growth of the segment.


By Deployment Analysis


Cloud to Dominate the Market Owing to Seamless Deployment


Based on deployment, the market is segmented into cloud and on-premises.


Cloud based geospatial analytics solutions captured the largest market share. This segment comprises geospatial solutions that are deployed on cloud technology. For instance, Hexagon AB offers cloud based geospatial solution to organize and manage geospatial data. Depending on the security, collaboration, and ownership requirements of the company, cloud-based geospatial analytics systems can be accessed through private, public, hybrid, or community cloud services. This cloud data may be made public to allow for ongoing upgrades and open access. Furthermore, cloud-based analytics solutions deliver on-demand geospatial data, images, and maps, cutting down on data collection time. It enables companies to share data and perform operations such as viewing, generating, monitoring, managing, and analyzing geospatial data.


Although, various organizations are still deploying this type of analytics solutions on-premises due to security concerns and cost-cutting purposes. Thus, on-premises deployment is expected to witness moderate adoption.


By Enterprise Size Analysis


Large Enterprises to Gain Momentum Owing to High Inclination Towards Analytical Solutions


Based on enterprise size, the global market is segmented into large enterprises and SMEs.


In the global market, large enterprises captured the largest market share in 2020. The growth of the geospatial technologies among large enterprises would occur on account of a high inclination towards analytical solutions to gain better output and plan business strategies based on location and GIS data.


Small and medium-sized organizations are expected to showcase strong growth over the forecast period. One of the major factors contributing to the growth of such solutions is the rising number of location-based data in SMEs. The adoption of geospatial solutions among SMEs is projected to develop rapidly during the forecast period, but geospatial analytics is more popular among large corporations. Increased use of cloud technology leads to improved company performance, resulting in a need for geospatial analytics among SMEs.


By Application Analysis


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Surveying captured Largest Share whereas Public Safety and Medicine Delivery to Expand at Highest CAGR


Based on application, the market is segmented into disaster management and risk reduction, public safety and medicine delivery, surveying, climate change adaptation, and others.


The surveying application captured the maximum market share. The segment focuses on surveying solutions offered by key players. For example, construction surveying solution offered by Esri provides a critical link between construction geospatial data and on ground layout of construction facilities. The rising use of geospatial analytics across different industries, including security and defense, architecture, engineering & construction, oil & gas, manufacturing, and utilities is driving the growth of the segment. The oil and gas, as well as the mining sectors, require both land and maritime surveying. Surveying also has other advantages such as improved decision-making, more trustworthy record-keeping, and better land management. These reasons contribute to the surveying segment's dominant position.


The adoption of geospatial analytics solutions for public safety and medicine delivery is expected to grow at an exponential CAGR over the forecast period. The growth of this segment is mainly driven by adoption of energy and healthcare management infrastructure to manage risk and hazard assessment.


By End-User Analysis


Defense and Internal Security Industry to Showcase Strong Growth


Based on end-user, the market is segmented into defense and internal security, retail & logistics, government, BFSI, energy & utilities, agriculture, healthcare & life sciences, infrastructure & urban development, and others.


The defense and internal security segment is expected to dominate the global market. Modern military and intelligence heavily rely on advanced technologies such as AI, thermal technologies, location and geospatial solutions, and others. One of the most essential components of strategic intelligence is geospatial data. Many countries are constantly upgrading their military portfolio as a result of current military conflicts among big economies. Geospatial data may aid border security operations by delivering situational awareness information, allowing for rapid decision-making, and enhancing national security. The development of remote sensing technologies has supplied military forces with critical intelligence data. During peacetime, spy satellites collect high-resolution satellite data to track the enemy's development and purchase of new combat devices.


Healthcare is expected to grow at highest CAGR over the forecast period. In location-allocation models, GIS is being utilized to generate more precise and comprehensive representations of service demand. As many health dangers occur outside the residence, relying only on surrogate indications of need based on residential population is frequently unrealistic. GIS may be used to geocode pertinent data from surveillance systems or health surveys for services that target specific health concerns, allowing the best locations to be picked based on the health condition of interest. Additionally, during the contextual environment of the COVID-19 pandemic, technologies, such as GIS and location-based solutions are expected to play a vital role.


REGIONAL INSIGHTS


North America Geospatial Analytics Market, 2020 (USD Billion)

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Geographically, the market is segmented across five major regions, North America, Europe, Asia Pacific, the Middle East & Africa, and South America.


North America dominated the global market in 2020. Geospatial technology is widely utilized in North American industrial applications, such as military and defense, construction, agriculture, transportation, and mining. For instance, in May 2020, United States National Mining Association integrated GIS and location-based solutions to plan and collect geophysical, geological, and topographic data and information about natural resources. The development of mobile GIS technologies, which will have a favorable influence on the North America market, is projected to enhance demand for real-time information and location-based services in the future years.


Europe is expected to showcase significant growth. The development of mobile GIS technologies, which will have a favorable influence on the market in this area, is projected to enhance demand for real-time information and location-based services.


The Asia Pacific market is expected to register the highest CAGR. Due to the region's developing economies, such as India, China, and Indonesia, there has been tremendous expansion in the urban population. Smart cities, smart infrastructure, and well-planned urban landscapes are in high demand as a result of this expansion. China, South Korea, and India are leading the way in 5G and IoT infrastructure development. The APAC market is anticipated to expand at the fastest CAGR during the forecast period due to these factors.


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The Middle East & Africa and Latin America are expected to witness strong growth in the near future. Furthermore, the growth of the oil and gas sector, the development of 5G infrastructure, and the rising demand for connected vehicles are some of the factors driving the region’s growth.


KEY INDUSTRY PLAYERS


Major Players to Focus on Offering Enhanced Solution to Stay Competitive in the Market


Companies operating in the market, such as Alteryx, Microsoft Corporation, Bentley Systems, Incorporated, CARTO, Descartes Labs, Inc., Google LLC (Alphabet Inc.), Pitney Bowes, TomTom, Fugro, Here Technologies, Zebra Technologies Corporation, and others are focused on developing and offering different types of GIS and mapping solutions. The high competition in the market is forcing companies to adopt different business strategies to gain optimum market share.



  • January 2021 – Esri, a global leader in location intelligence and geospatial analytics technology launched ArcGIS Platform for analysts and developers planning to integrate location intelligence services in their business models. ArcGIS is a geospatial platform as a service (PaaS) that offers developers direct access to powerful location services offered by Esri while using web frameworks and APIs of their choice.


LIST OF KEY COMPANIES PROFILED:



  • Alteryx (California, U.S.)

  • Microsoft Corporation (New Mexico, U.S.)

  • Bentley Systems, Incorporated (Pennsylvania, U.S.)

  • CARTO (New York, U.S.)

  • Descartes Labs, Inc. (New Mexico, U.S.)

  • Esri (California, U.S.)

  • Google LLC (Alphabet Inc.) (California, U.S.)

  • Pitney Bowes (Connecticut, U.S.)

  • TomTom (Amsterdam, Netherlands)

  • Fugro (Leidschendam, Netherlands)


KEY INDUSTRY DEVELOPMENTS:



  • May 2021 - Esri, a global leader in location intelligence and geospatial analytics technology announced technical updates to its location analytics suite ArcGIS Insights. With upgradations, ArcGIS Insights now support connectivity with different cloud-native databases such as Snowflake, Amazon Redshift, Google BigQuery, Microsoft Azure SQL, and others.

  • June 2021 – Trimble announced addition of a geotechnical portfolio to its geospatial monitoring platform through a collaboration with an industry leading manufacturer of geotechnical IoT monitoring solutions. With a complete system that integrates geotechnical and geospatial data, survey, geotechnical, and structural engineers may easily extend their monitoring business prospects.


REPORT COVERAGE


An Infographic Representation of Geospatial Analytics Market

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The global geospatial analytics market research report provides an in-depth analysis of the market. It focuses on key aspects such as leading companies, product Industry, and leading product applications. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several key factors that have contributed to the market's growth over recent years.


Report Scope and Segmentation






























































  ATTRIBUTE



  DETAILS



Study Period



2017 – 2028



Base Year



2020



Estimated Year



 2021



Forecast Period



2021 – 2028



Historical Period



2017 – 2019



Unit



Value (USD Billion)



Segmentation



By Component, Deployment, Enterprise Size, Application, End-User, and Region



By Component




  • Solution

    • Data Integration and ETL

    • Geocoding and Reverse Geocoding

    • Thematic Mapping & Spatial Analysis

    • Reporting & Visualization

    • Others (Network Analysis and Geovisualization)



  • Services



By Deployment




  • Cloud

  • On-premises



By  Enterprise Size




  • Large Enterprises

  • Small & Medium-sized Enterprises (SMEs)



By Application




  • Disaster Management and Risk Reduction

  • Public Safety and Medicine Delivery

  • Surveying

  • Climate Change Adaptation

  • Others (Sales & Marketing Optimization and Supply Chain Management)



By  End-User




  • Defense and Internal Security

  • Retail & Logistics

  • Government

  • Banking, Financial Services and Insurance (BFSI)

  • Energy & Utilities

  • Agriculture

  • Infrastructure & Urban Development

  • Healthcare & Life Sciences

  • Others (Education and Media & Entertainment)



By Region




  • North America (By Component, Deployment, Enterprise Size, Application, End-User, and Country)

    • U.S. (By Application)

    • Canada (By Application)

    • Mexico (By Application)



  • Europe (By Component, Deployment, Enterprise Size, Application, End-User, and Country)

    • U.K. (By Application)

    • Germany (By Application)

    • France (By Application)

    • Italy (By Application)

    • Spain (By Application)

    • Russia (By Application)

    • Benelux (By Application)

    • Nordics (By Application)

    • Rest of Europe



  • Asia Pacific (By Component, Deployment, Enterprise Size, Application, End-User, and Country)

    • China (By Application)

    • India (By Application)

    • Japan (By Application)

    • South Korea (By Application)

    • ASEAN (By Application)

    • Oceania (By Application)

    • Rest of Asia Pacific



  • Middle East & Africa (By Component, Deployment, Enterprise Size, Application, End-User, and Country)

    • Turkey (By Application)

    • GCC (By Application)

    • Israel (By Application)

    • North Africa (By Application)

    • South Africa (By Application)

    • Rest of Middle East & Africa



  • South America (By Component, Deployment, Enterprise Size, Application, End-User, and Country)

    • Brazil (By Application)

    • Argentina (By Application)

    • Rest of South America





Frequently Asked Questions

According to Fortune Business Insights, the global market is expected to reach USD 147.58 billion by 2028.

Fortune Business Insights says that the market stood at USD 56.88 billion in 2020.

The market is expected to grow at a CAGR of 12.8% during the forecast period (2021-2028).

Based on component, the solution segment is expected to lead the market.

Increased adoption of location-based services is one of the key drivers for market growth.

Alteryx, Microsoft Corporation, Bentley Systems, Incorporated, CARTO, Descartes Labs, Inc., Esri, Google LLC (Alphabet Inc.), Pitney Bowes, TomTom, Fugro, HERE Technologies, and Zebra Technologies Corporation are some of the top companies in the market.

The defense and internal security segment holds the major market share.

North America holds the major market share.

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