Global Geospatial Solutions Market - 2022-2029

Global Geospatial Solutions Market - 2022-2029

Market Overview

The global geospatial solutions market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

The expanding field of geospatial technology includes the Geographic Information System (GIS), the Global Positioning System (GPS) and Remote Sensing (RS), a technology that offers a new way of producing and using maps that are needed to regulate communities and companies. We may acquire georeferenced data using geospatial technology and use it for analysis, modeling, simulations and visualization.

Many industries employ geographic solutions to generate geospatial data models and solutions. Sensors, real-time communications, field apps, field & back-office processing, modeling and analytics are all integrated to enable efficient workflow, high data quality and data interchange to boost productivity, efficiency and safety.

Market Dynamics

The use of new and forthcoming technologies such as 3D, Augmented Reality (AR) and Virtual Reality (VR) in GIS systems has aided the development of geospatial solutions. Artificial intelligence (AI), automation, cloud, the Internet of Things (IoT) and sensor downsizing are projected to be the engines for growth.

The rising penetration of AI and ML-based GIS

Artificial intelligence (AI), machine learning and geographic information systems (GIS) have increasingly collaborated. While GIS is a powerful technology with large data sets and a wide range of AI applications, artificial intelligence may help with GIS projects by providing advanced approaches. AI GIS is a term that refers to a combination of AI technology and various GIS procedures, such as spatial data analysis algorithms (GeoAI) that combine AI technology, as well as several AI and GIS-enabled technologies. To address the current intelligent challenge of GIS systems, using AI GIS to enhance and maintain the next stage of the evolution of GIS technology systems is a cost-effective solution. The initial use of AI GIS was to extract geographic information from satellite imaging photographs and videos using computer vision.

Organizations benefit from the capabilities when they are paired with geospatial data. To give enterprises better insights, AI and machine learning-based solutions are being deployed by geospatial analytics solution providers such as ESRI and SAP. Drone deployment and satellite images have improved dramatically in recent years. For example, during the COVID-19 epidemic in 2020, MicroMultiCopter (Shenzhen) deployed over 100 drones in various Chinese cities to patrol regions and efficiently identify people and traffic.

Growing adoption of 5G connectivity and communication technology

The introduction of 5G network services is projected to open up new prospects for geospatial analytics suppliers, as 5G technology may be used to capture highly precise geographical data. The 5G network would primarily use three bands of the spectrum: low-band, mid-band and high-band. Sub 1GHz spectrum is another term for low-band spectrum. It is largely a carrier's spectrum band and it quickly becomes depleted. The mid-band spectrum offers better coverage and latency than the low-band spectrum. However, when opposed to a low-band spectrum, a mid-band spectrum fails to penetrate buildings.

mm-Wave is a term used to describe a high-band spectrum. It has low latency and can reach peak rates of up to 10 GBPS. Small cells are required for 5G deployment because they aid users' connectivity to 5G transceiver towers. Due to huge antenna arrays and broad bandwidths, 5G networks will likely provide device positioning shortly. Particularly in Line of Sight (LOS) situations, these would have extremely accurate Direction-of-Arrival (DOA) and Time-of-Arrival (TOA) estimations. The deployment of 5G infrastructure relies heavily on geospatial data.

Limited awareness of the benefits of geospatial solutions

Many businesses are unaware of the benefits of geospatial analytics solutions, which may be utilized in a variety of commercial applications; as a result, adoption is still low in several industries. Implementing geospatial analytics necessitates a thorough awareness of the specific application area of business and a thorough comprehension of the complete capabilities of geospatial analytics solutions.

Better business decision-making is aided by geospatial data and business intelligence (BI), which leads to new income opportunities, enhanced cost visibility and better risk management. Geospatial analytics solution vendors may address this issue by aggressively raising knowledge about the advantages of adopting geospatial analytics across industries.

COVID-19 Impact Analysis

The geospatial industry has aided in the relief and recovery efforts in various catastrophes and disasters. Because of the coronavirus pandemic, the geospatial network takes preventive measures to track the infection's spread and provide real-time data. In pandemics, geographic knowledge is critical for identifying and responding to any disease flare-up.

Disease transmission experts can use GIS to delineate events based on various factors such as socioeconomics, environment, geology and previous events to understand better the cause of flare-ups, their pattern of spread and the force needed to implement control, prevention and observation measures. General health groups approach producers and oversee the need for GIS to understand episode designs to identify vulnerable people and plan for intervention.

Segment Analysis

The geospatial solutions market is segmented into hardware, software, and service by solution.

Software to hold the lion’s share

Because software generates most income, it accounts for a larger portion of the geospatial technologies and solutions market. Geospatial-specific software creates a platform that serves as a user interface for executing and analyzing various geospatial data. In addition, increased geospatial software use across important industries such as military and supply chain management would boost demand for geospatial software.

Geographical Analysis

Heavy reliance on remote sensing technology in North America

The strong use of remote sensing capabilities by key end-use industries, such as utilities, transportation, defense & intelligence and infrastructure development, is credited with the region's growth. Drone, aerial and satellite images and other types of remotely sensed data expand the boundaries of almost every aspect of existence. In recent years, the country has made excellent progress in strengthening remote sensing capabilities by deploying strong mapping, geospatial analytics, artificial geospatial intelligence and modeling technologies.

Geospatial solutions have shown to be quite effective in enhancing defense and military capabilities across U.S. Demand for defense geospatial solutions is increasing dramatically due to the significant financial allocation for enhancing defense capabilities. U.S. Senate voted in December 2021 to adopt a defense spending measure worth around US$ 770 billion for FY 2022 to improve surveillance and monitoring capabilities. ESRI, for example, is already operating in this space with its ArcGIS platform, which can map, analyze, visualize and share imagery & raster data to draw greater insights.

Competitive Landscape

Leading suppliers are concentrating on remote sensing-enabled technology breakthroughs to expand the applications of critical geospatial solutions. Furthermore, top-tier geospatial service providers expand their reach through collaborations, acquisitions and partnerships with current companies. For example, ESRI created new land cover maps based on geospatial solutions in March 2022, depicting how Earth as a planet has changed over the last five years. These maps were created using satellite data and a combination of AI and machine learning, with 26 images of every spot on the Earth taken during the year.

Scania, a global leader in transportation solutions, collaborated with HERE Technologies in January 2022 to power its next-generation infotainment platform for its fleet of trucks in China, Japan and South Korea. Scania uses the HERE SDK's mapping, navigation and search features, including truck-specific route information, vehicle rules and sites of interest.

Major global geospatial solutions market companies include Here Technologies, Pitney Bowes, Hexagon Geospatial, Maxar Technologies, Geospatial Corporation, Topcon Positioning Systems, Harris Corporation, Orbital Insights, Google Inc. and GE Company.

HERE Technologies

Overview: HERE Technologies is one of the world's major location platform companies, with 35 years of mapmaking experience and 8,000 workers spread over 56 countries. The HERE map data is used by over 160 million automobiles. HERE is a forerunner in the field of location technology. Businesses use its platform to construct unique location-based services and live maps and securely communicate location data. It assists customers in innovating, from autonomous vehicles and smart logistics to innovative consumer experiences, while securing personal data and privacy.

Product Portfolio: The foundation for GIS location goods and services is HERE Map Content. Esri and HERE have provided end-to-end mapping solutions for desktop, server, mobile and cloud platforms for even more than a decade. Esri's location-based services, online, mobile and GIS solutions benefit from HERE data. HERE data is included in Esri MapStudio and Address Coder.

Key Development: Transerve, a location intelligence firm that supports digital transformation and effective decision making, has announced a partnership with HERE Technologies, the world's top location data and technology platform, for 2021. Transerve's location intelligence platform is built on a patented and modern architecture-based software-as-a-service (SaaS) data and location analytics platform. Customers can use geo-AI (artificial geographic intelligence) to help them solve challenging business problems. Transerve's SaaS solutions are used in various industries, including banking, financial services, real estate, retail and e-commerce.

Why Purchase the Report?

Visualize the composition of the geospatial solutions market segmentation by technology, solution, application, end-user and region, highlighting the critical Transportation assets and players.

Identify commercial opportunities in the geospatial solutions market by analyzing trends and co-development deals.

Excel data sheet with thousands of geospatial solutions market-level 4/5 segmentation points.

Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global geospatial solutions market report would provide access to an approx. 69 market data table, 64 figures and 213 pages.

Target Audience 2022

Geospatial Solutions Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Emerging Companies

Geospatial Solutions Manufacturers