Geospatial Solutions Market Forecasts to 2030 – Global Analysis By Solution Type (Hardware, Software and Other Solution Types), Technology (Geospatial Analytics, Earth Observation and Other Technologies), Application, End User and By Geography

Geospatial Solutions Market Forecasts to 2030 – Global Analysis By Solution Type (Hardware, Software and Other Solution Types), Technology (Geospatial Analytics, Earth Observation and Other Technologies), Application, End User and By Geography

According to Stratistics MRC, the Global Geospatial Solutions Market is accounted for $572.31 billion in 2023 and is expected to reach $1531.66 billion by 2030 growing at a CAGR of 15.1% during the forecast period. Geospatial solutions involve the use of technology to gather, analyze, and interpret spatial data, enabling the visualization and understanding of geographic information. These solutions provide insights into the spatial relationships and patterns within the Earth's surface by utilizing technologies like Geographic Information Systems (GIS), satellite imagery, GPS, and remote sensing. Geospatial solutions enable organizations to make well-informed decisions, optimize processes, and tackle complex challenges across various industries by integrating location-based data.

According to the report by the National Aeronautics and Space Administration (NASA), the budget provided to NASA amounted to USD 21 billion in 2020. According to the government of the UK, in June 2020, the UK launched a geospatial strategy, which unlocks opportunities from location data.

Market Dynamics:

Driver:

Development of smart cities and urbanization

Modern geospatial technologies are becoming more and more necessary as cities expand and become more complex in order to effectively manage resources, transportation, and infrastructure. Geospatial solutions play a major role in data-driven decision-making, city planning, and resource optimization for smart city initiatives, which center on leveraging technology for sustainable urban development. Urbanization has increased demand for precise mapping, real-time monitoring, and spatial analytics.
Restraint:

Limited knowledge and skill disparity

The adoption of geospatial analytics solutions is still relatively low across a number of industries, largely due to a lack of awareness among many organizations about the advantages of these tools for a variety of business applications. In order to implement geospatial analytics, one must have a thorough understanding of the specific business application area as well as knowledge of the full potential of geospatial analytics solutions. When combined with business intelligence (BI), geospatial data facilitates better business decision-making that enhances risk management, increases cost visibility, and creates new revenue opportunities.
Opportunity:

GIS software development

GIS (Geographic Information System) software development has a lot of potential in the geospatial solutions market. Novel geospatial tools are becoming more and more necessary as the need for location-based insights grows. By developing apps that facilitate effective data analysis, visualization, and decision-making based on spatial information, GIS software developers can profit from this. As businesses depend more and more on geospatial solutions for more intelligent resource management and strategic planning, competent developers can take advantage of this market to create unique, user-friendly GIS applications that are beneficial to a variety of industries.

Threat:

Reliance on global navigation satellite systems

Inaccurate positioning, navigation, and timing data can result from GNSS signal disruptions or deliberate interference, which can affect a variety of applications like logistics, mapping, and surveying. Businesses that depend on geospatial solutions may experience financial losses, compromised safety, and decreased efficiency as a result of this vulnerability. In order to guarantee the stability and dependability of geospatial systems on the market, diversification of positioning technologies and the creation of robust GNSS alternatives become essential.

Covid-19 Impact:

The geospatial solutions market has been greatly impacted by the COVID-19 pandemic, which has raised demand for mapping and location-based data analytics solutions. The situation has brought attention to how crucial geographic tools are for controlling the virus's spread and allocating resources as efficiently as possible. Geospatial solutions have been increasingly adopted by industries like healthcare, logistics, and urban planning to improve decision-making processes. On the other hand, supply chain disruptions and project implementation delays have also presented difficulties for the market. Irrespective of the difficulties, the pandemic has highlighted how important geospatial technologies are for tackling global issues, building resilience, and stimulating creativity.

The software segment is expected to be the largest during the forecast period

The software segment is expected to grow significantly over the period of time due to adaptations of advanced mapping, analytics, and location-based services. The need for sophisticated software solutions is being driven by the increasing use of geospatial technologies in a variety of industries, including agriculture, urban planning, and logistics. The capabilities of geospatial software are being improved by advances in artificial intelligence, machine learning, and cloud computing, which makes data analysis and decision-making more effective. The significance of the software segment in providing comprehensive solutions is further enhanced by the integration of geospatial data with other technologies, such as big data and the Internet of Things.

The earth observation segment is expected to have the highest CAGR during the forecast period

The Earth Observation segment has experienced robust growth as a result of advances in satellite technology, data analytics, and the growing need for real-time monitoring. Many industries, including agriculture, urban planning, environmental monitoring, and disaster management, now rely heavily on satellite imagery and data. The segment's expansion has been driven by the growing applications of Earth observation, such as climate change analysis, infrastructure development, and precision agriculture. Additionally, its market expansion has also been aided by the integration of machine learning and artificial intelligence (AI) for the purpose of extracting actionable insights from Earth observation data.

Region with largest share:

Because of the advanced technological capabilities and abundance of top providers of geospatial solutions, North America has emerged as a major player in the geospatial industry. Increased demand in a number of industries, including transportation, defense, urban planning, and agriculture, is frequently cited as the reason for the region's growth in this market. The geospatial solutions market in North America is expected to grow steadily due to ongoing advancements in the Internet of Things and the incorporation of geographic data into decision-making processes.

Region with highest CAGR:

The demand for location-based services, infrastructure development, and urban planning has led to a notable surge in the geospatial solutions market in the Asia-Pacific region. The market has expanded as a result of the quick uptake of cutting-edge technologies like satellite imagery, remote sensing, and GIS (Geographic Information System). The growth is also fuelled by government initiatives to improve agricultural practices, strengthen disaster management capabilities, and address environmental challenges. Additionally, the Asia-Pacific geospatial solutions market is also expanding due to the growing acceptance of location-based applications in sectors like e-commerce, transportation, and healthcare.

Key players in the market

Some of the key players in Geospatial Solutions market include Carmenta , Cesium GS, Inc., Cyient Limited, ESRI , Foursquare, Fugro N.V., General Electric, Google LLC, HERE Technologies, Hexagon AB, IBM Corporation, L3Harris Technologies, Inc., Maxar Technologies, Microsoft Corporation, Oracle Corporation, Orbital Insights, Precisely, RMSI Pvt. Ltd., TomTom N.V. and Trimble, Inc.

Key Developments:

In December 2023, HERE Technologies, the leading location data and technology platform, announced that its partnership with Murata Manufacturing Co., Ltd. (Murata), a leader in advanced electronics design and manufacturing is delivering city authorities in Jakarta, Indonesia unprecedented roadway congestion insights and capabilities to monitor, predict and address a variety of traffic-related challenges. The collaboration between HERE and Murata has paved the way for a smarter and more sustainable traffic management for the city of Jakarta.
In November 2023, Precisely, a global leader in data integrity announced that it is working with Amazon Web Services (AWS) to expand AWS Mainframe Modernization Data Replication with Precisely. The AWS Mainframe Modernization Data Replication with Precisely for IBM i systems empowers customers to eliminate data silos associated with legacy systems to fuel even more powerful analytics, machine learning (ML), and artificial intelligence (AI) on AWS, and support modernization initiatives.

Solution Types Covered:
• Hardware
• Software
• Services• Other Solution Types
Technologies Covered:
• Geospatial Analytics• Earth Observation• Global Navigation Satellite System & Positioning• Scanning• Other Technologies
Applications Covered:
• Surveying & Mapping • Geovisualization • Asset Management • Planning & Analysis • Marketing Management • Disaster Management • Other Applications
End Users Covered:• Utility• Transportation• Business• Defence & Intelligence• Architecture, Engineering, and Construction• Natural Resource• Media & Entertainment • Oil & Gas • Healthcare • Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
JapanChinaIndiaAustralia
New Zealand
South Korea
Rest of Asia Pacific• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances