Geospatial Solutions Market
PUBLISHED: 2024 ID: SMRC24918
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Geospatial Solutions Market

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

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4.0 (34 reviews)
Published: 2024 ID: SMRC24918

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $572.31 BN

Projected Year Value (2030)

US $1,531.66 BN

CAGR (2023 - 2030)

15.1%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

 Asia Pacific


According to Stratistics MRC, the Global Geospatial Solutions Market is accounted for $572.31 billion in 2023 and is expected to reach $1,531.66 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
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o 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

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary             
              
2 Preface             
 2.1 Abstract            
 2.2 Stake Holders            
 2.3 Research Scope            
 2.4 Research Methodology            
  2.4.1 Data Mining           
  2.4.2 Data Analysis           
  2.4.3 Data Validation           
  2.4.4 Research Approach           
 2.5 Research Sources            
  2.5.1 Primary Research Sources           
  2.5.2 Secondary Research Sources           
  2.5.3 Assumptions           
              
3 Market Trend Analysis             
 3.1 Introduction            
 3.2 Drivers            
 3.3 Restraints            
 3.4 Opportunities            
 3.5 Threats            
 3.6 Application Analysis            
 3.7 End User Analysis            
 3.8 Emerging Markets            
 3.9 Impact of Covid-19            
              
4 Porters Five Force Analysis             
 4.1 Bargaining power of suppliers            
 4.2 Bargaining power of buyers            
 4.3 Threat of substitutes            
 4.4 Threat of new entrants            
 4.5 Competitive rivalry            
              
5 Global Geospatial Solutions Market, By Solution Type             
 5.1 Introduction            
 5.2 Hardware            
 5.3 Software            
  5.3.1 Data Management Solutions           
  5.3.2 Geographic Information System and Mapping Solutions           
  5.3.3 Imagery and Remote Sensing Solutions           
  5.3.4 Field Data Collection Solutions           
  5.3.5 Other Software Solutions           
 5.4 Services            
 5.5 Other Solution Types            
              
6 Global Geospatial Solutions Market, By Technology             
 6.1 Introduction            
 6.2 Geospatial Analytics            
 6.3 Earth Observation            
 6.4 Global Navigation Satellite System & Positioning            
 6.5 Scanning            
 6.6 Other Technologies            
              
7 Global Geospatial Solutions Market, By Application             

 7.1 Introduction            
 7.2 Surveying & Mapping            
 7.3 Geovisualization            
 7.4 Asset Management            
 7.5 Planning & Analysis            
 7.6 Marketing Management            
 7.7 Disaster Management            
 7.8 Other Applications            
              
8 Global Geospatial Solutions Market, By End User             
 8.1 Introduction            
 8.2 Utility            
 8.3 Transportation            
 8.4 Business            
 8.5 Defence & Intelligence            
 8.6 Architecture, Engineering, and Construction            
 8.7 Natural Resource            
  8.7.1 Agriculture           
  8.7.2 Forestry           
  8.7.3 Mining           
  8.7.4 Fishery           
 8.8 Media & Entertainment            
 8.9 Oil & Gas            
 8.10 Healthcare            
 8.11 Other End Users            
              
9 Global Geospatial Solutions Market, By Geography             
 9.1 Introduction            
 9.2 North America            
  9.2.1 US           
  9.2.2 Canada           
  9.2.3 Mexico           
 9.3 Europe            
  9.3.1 Germany           
  9.3.2 UK           
  9.3.3 Italy           
  9.3.4 France           
  9.3.5 Spain           
  9.3.6 Rest of Europe           
 9.4 Asia Pacific            
  9.4.1 Japan           
  9.4.2 China           
  9.4.3 India           
  9.4.4 Australia           
  9.4.5 New Zealand           
  9.4.6 South Korea           
  9.4.7 Rest of Asia Pacific           
 9.5 South America            
  9.5.1 Argentina           
  9.5.2 Brazil           
  9.5.3 Chile           
  9.5.4 Rest of South America           
 9.6 Middle East & Africa            
  9.6.1 Saudi Arabia           
  9.6.2 UAE           
  9.6.3 Qatar           
  9.6.4 South Africa           
  9.6.5 Rest of Middle East & Africa           
              
10 Key Developments             
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures            
 10.2 Acquisitions & Mergers            
 10.3 New Product Launch            
 10.4 Expansions            
 10.5 Other Key Strategies            
              
11 Company Profiling             
 11.1 Carmenta            
 11.2 Cesium GS, Inc.            
 11.3 Cyient Limited            
 11.4 ESRI            
 11.5 Foursquare            
 11.6 Fugro N.V.            
 11.7 General Electric            
 11.8 Google LLC            
 11.9 HERE Technologies              
 11.10 Hexagon AB            
 11.11 IBM Corporation            
 11.12 L3Harris Technologies, Inc.            
 11.13 Maxar Technologies            
 11.14 Microsoft Corporation            
 11.15 Oracle Corporation            
 11.16 Orbital Insights            
 11.17 Precisely            
 11.18 RMSI Pvt. Ltd.            
 11.19 TomTom N.V.            
 11.20 Trimble, Inc.            
              
List of Tables              
1 Global Geospatial Solutions Market Outlook, By Region (2021-2030) ($MN)             
2 Global Geospatial Solutions Market Outlook, By Solution Type (2021-2030) ($MN)             
3 Global Geospatial Solutions Market Outlook, By Hardware (2021-2030) ($MN)             
4 Global Geospatial Solutions Market Outlook, By Software (2021-2030) ($MN)             
5 Global Geospatial Solutions Market Outlook, By Data Management Solutions (2021-2030) ($MN)             
6 Global Geospatial Solutions Market Outlook, By Geographic Information System and Mapping Solutions (2021-2030) ($MN)             
7 Global Geospatial Solutions Market Outlook, By Imagery and Remote Sensing Solutions (2021-2030) ($MN)             
8 Global Geospatial Solutions Market Outlook, By Field Data Collection Solutions (2021-2030) ($MN)             
9 Global Geospatial Solutions Market Outlook, By Other Software Solutions (2021-2030) ($MN)             
10 Global Geospatial Solutions Market Outlook, By Services (2021-2030) ($MN)             
11 Global Geospatial Solutions Market Outlook, By Other Solution Types (2021-2030) ($MN)             
12 Global Geospatial Solutions Market Outlook, By Technology (2021-2030) ($MN)             
13 Global Geospatial Solutions Market Outlook, By Geospatial Analytics (2021-2030) ($MN)             
14 Global Geospatial Solutions Market Outlook, By Earth Observation (2021-2030) ($MN)             
15 Global Geospatial Solutions Market Outlook, By Global Navigation Satellite System & Positioning (2021-2030) ($MN)             
16 Global Geospatial Solutions Market Outlook, By Scanning (2021-2030) ($MN)             
17 Global Geospatial Solutions Market Outlook, By Other Technologies (2021-2030) ($MN)             
18 Global Geospatial Solutions Market Outlook, By Application (2021-2030) ($MN)             
19 Global Geospatial Solutions Market Outlook, By Surveying & Mapping (2021-2030) ($MN)             
20 Global Geospatial Solutions Market Outlook, By Geovisualization (2021-2030) ($MN)             
21 Global Geospatial Solutions Market Outlook, By Asset Management (2021-2030) ($MN)             
22 Global Geospatial Solutions Market Outlook, By Planning & Analysis (2021-2030) ($MN)             
23 Global Geospatial Solutions Market Outlook, By Marketing Management (2021-2030) ($MN)             
24 Global Geospatial Solutions Market Outlook, By Disaster Management (2021-2030) ($MN)             
25 Global Geospatial Solutions Market Outlook, By Other Applications (2021-2030) ($MN)             
26 Global Geospatial Solutions Market Outlook, By End User (2021-2030) ($MN)             
27 Global Geospatial Solutions Market Outlook, By Utility (2021-2030) ($MN)             
28 Global Geospatial Solutions Market Outlook, By Transportation (2021-2030) ($MN)             
29 Global Geospatial Solutions Market Outlook, By Business (2021-2030) ($MN)             
30 Global Geospatial Solutions Market Outlook, By Defence & Intelligence (2021-2030) ($MN)             
31 Global Geospatial Solutions Market Outlook, By Architecture, Engineering, and Construction (2021-2030) ($MN)             
32 Global Geospatial Solutions Market Outlook, By Natural Resource (2021-2030) ($MN)             
33 Global Geospatial Solutions Market Outlook, By Agriculture (2021-2030) ($MN)             
34 Global Geospatial Solutions Market Outlook, By Forestry (2021-2030) ($MN)             
35 Global Geospatial Solutions Market Outlook, By Mining (2021-2030) ($MN)             
36 Global Geospatial Solutions Market Outlook, By Fishery (2021-2030) ($MN)             
37 Global Geospatial Solutions Market Outlook, By Media & Entertainment (2021-2030) ($MN)             
38 Global Geospatial Solutions Market Outlook, By Oil & Gas (2021-2030) ($MN)             
39 Global Geospatial Solutions Market Outlook, By Healthcare (2021-2030) ($MN)             
40 Global Geospatial Solutions Market Outlook, By Other End Users (2021-2030) ($MN)             
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.              

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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