Research Nester published a report titled “Geospatial Solutions Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global geospatial solutions market in terms of market segmentation by technology, solution, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global geospatial solutions market is projected to grow at a CAGR of ~15% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of end-user into utility, business, transportation, defense & intelligence, infrastructural development, and others, out of which, the transportation segment is anticipated to gain substantial share over the forecast period, owing to the growing use of maps for travelling. GPS and map applications are intensively used on a daily basis by commuters, as well as, by tourists. Such factors are anticipated to fuel the growth of the segment.
The global geospatial solutions market is estimated to grow on the back of incorporation of advanced technologies, such as, Augmented Reality (AR), 3D printing, and Artificial Intelligence (AI) in geospatial solutions, along with growing adoption of geographical intelligence systems (GIS) amongst the people. Furthermore, the rising investment in the research activities regarding space and geological conditions is expected to propel the growth of the market in the upcoming years.
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On the basis of geographical analysis, the global geospatial solutions market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is foreseen to hold the largest market share owing to the increasing research activities, along with the presence of National Aeronautics and Space Administration or NASA, one of the largest research institutes in the world. Moreover, rising funding for research purposes is another major factor estimated to boost the market growth. According to the report by the NASA, the budget provided to NASA amounted to USD 21 billion in 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Integration of Advanced Technology in Geospatial Solution to Fuel the Market Growth
The advancement in technology, with the development of Virtual Reality (VR) and Augmented Reality (AR) has changed the dynamics of every end-user industry. The increasing integration of technology, such as, 3D printing, AR, VR, and Artificial Intelligence, in geographical information system (GIS), is estimated to boost the market growth.
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However, requirement of very high investment is expected to operate as key restraint to the growth of the global geospatial solutions market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global geospatial solutions market which includes company profiling of Telenav, Inc., HERE Global B.V., Hexagon AB, esri, SNC-Lavalin, Topcon Corporation, MAXAR Technologies Inc., Geospatial Corporation, Harris Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global geospatial solutions market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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