Geospatial Analytics Market Size, Share, Growth Analysis, By Offering (Solution, Services), By Technology (Remote Sensing, Global Positioning Systems), By Vertical, By Region - Industry Forecast 2024-2031

Global Geospatial Analytics Market size was valued at USD 126.22 Billion in 2022 and is poised to grow from USD 142 Billion in 2023 to USD 364.34 Billion by 2031, growing at a CAGR of 12.5% in the forecast period (2024-2031).

Geospatial data analytics involves the collection, processing, and visualization of diverse geographic data formats generated by GPS, drones, satellite imaging, and mobile devices. The global geospatial analytics market is witnessing significant growth, driven by rapid urbanization, advancements in AI, ML, IoT, and the adoption of 5G technology. Governments and academia are leveraging geospatial tools to address challenges stemming from urban expansion. For instance, Yale University launched the Center for Geospatial Solutions in June 2023 to enhance research, training, and applications in geospatial science. This initiative aims to tackle global issues such as climate-induced displacement and economic forecasting. The proliferation of 5G is expected to revolutionize real-time data transfer, tracking, and analytics, fueling further market expansion.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Geospatial Data Analytics market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Geospatial Data Analytics Market Segmental Analysis

Global Geospatial Analytics Market is segmented by Offering, Technology, Vertical and Region. Based on Offering, the market is segmented into Solution, and Service. Based on Technology, the market is segmented into Remote Sensing, GIS, GPS, and Other Technologies. Based on Vertical, the market is segmented into Energy & Utility, Government, Defence & Intelligence, BFSI, Real estate & Construction, Healthcare & Life Sciences, Mining & Natural Resources, Security, Logistics & Supply Chain, Automotive & Transportation, Agriculture, Other Verticals. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Geospatial Data Analytics Market

Rapid advancements in IoT are transforming everyday life by embedding technology into routine objects and environments. IoT enables the development of smart homes, efficient pollution control systems, smart cities, and advanced energy-saving solutions. Through the deployment of smart sensors and GPS trackers, IoT generates vast amounts of accurate, extensible data on parameters such as temperature, humidity, noise, and position. This data seamlessly integrates with geospatial analytics to deliver deeper insights into complex queries, empowering better decision-making and efficient resource management. As IoT adoption accelerates, its synergy with geospatial analytics is increasingly driving demand for innovative applications across various sectors, from urban planning to environmental management, thereby propelling market growth.

Restraints in the Global Geospatial Data Analytics Market

The growth of the global geospatial analytics market is restrained by the lack of standardization and a significant shortage of skilled professionals. Inconsistent standards for storing and visualizing geospatial data compel GIS specialists to dedicate substantial time to data cleaning instead of analysis. Loose color conventions and limited uniformity in defining map elements further exacerbate standardization challenges. Additionally, the shortage of skilled workforce poses a critical barrier. According to a Geospatial World Annual Readership Survey, 84% of 2,000 industry professionals acknowledged a skills gap between industry demands and workforce availability. These factors collectively impede the efficient use and adoption of geospatial analytics, potentially slowing the market's overall growth trajectory despite its recent advancements.

Market Trends of the Global Geospatial Data Analytics Market

A key trend in the global geospatial analytics market is the growing adoption of web-based GIS platforms, which leverage web technologies like HTML5, JavaScript, and WebGL to deliver geospatial data and analytical tools directly through web browsers. Platforms such as Mapbox, Google Maps Platform, and ArcGIS Online by Esri enable users to visualize data, create interactive maps, and perform spatial analyses from anywhere with internet access. This trend is fueled by the rising demand for accessible, user-friendly geospatial solutions that empower businesses to utilize spatial data for resource management, strategic decision-making, and spatial intelligence applications across various industries. The convenience and functionality of these platforms are driving their integration into diverse business operations globally.