Global Geospatial Solutions Market to Reach $1.2 Trillion by 2030
The global market for Geospatial Solutions estimated at US$538 Billion in the year 2023, is expected to reach US$1.2 Trillion by 2030, growing at a CAGR of 12.7% over the analysis period 2023-2030. Geospatial Software, one of the segments analyzed in the report, is expected to record a 14.1% CAGR and reach US$651 Billion by the end of the analysis period. Growth in the Geospatial Hardware segment is estimated at 12.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $159.5 Billion, While China is Forecast to Grow at 11.6% CAGR
The Geospatial Solutions market in the U.S. is estimated at US$159.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$208.1 Billion by the year 2030 trailing a CAGR of 11.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.4% and 10.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.9% CAGR.
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