Geospatial solutions refer to technologies, tools and methods used to collect, analyze and visualize spatial data, which includes information about the Earth's surface and its features. These solutions often involve geographic information systems (GIS), remote sensing, global positioning systems (GPS) and other related technologies.
The geospatial solutions market consists of sales, by entities (organizations, sole traders and partnerships), of geospatial solutions such as hardware, software and services, that are used to collect, analyze and store geographic information. This information is used to map geographic locations and visualize the impact of various factors on those locations.
The global geospatial solutions market was valued at $269,333.9 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 13.0%.
Rapid Urbanization
During the historic period, rapid urbanization drove the growth of the geospatial solutions market. Urbanization refers to the process by which an increasing proportion of a population resides in urban areas, leading to the growth and expansion of cities and towns. Urbanization is a factor in the growth of geospatial solutions, as it creates a need for efficient infrastructure development, urban planning, environmental management and transportation, which creates opportunities that can be addressed effectively with the help of geospatial solutions. For example, in December 2022, according to the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization that promotes the interests of developing countries in world trade, the global population increased by 0.9% to 4.46 billion people who resided in urban areas in 2021 and is expected to reach 8 billion people by 2022. Therefore, rapid urbanization positively impacted the growth of the geospatial solutions market during the historic period.
Focus On Innovative Technological Solutions
Companies in the geospatial solutions market are developing innovative technological solutions, such as high-accuracy global navigation satellite system (GNSS) solutions, to address the growing demand for geospatial data and analytics in various industries. For instance, in January 2022, Spectra Geospatial, a US-based origin field software company, introduced the SP30 high-accuracy solution for geographic information system (GIS) field applications. It is designed to provide reliable and precise field data collection in an easy-to-use, compact form factor. It offers complete flexibility to use existing devices and access GNSS via a subscription, making it a cost-effective solution for GIS professionals. Additionally, it is a powerful and versatile solution for GIS data collection, inspection and management activities, offering high-accuracy GNSS positioning, dependable ruggedness and a range of powerful features for reliable communication and data collection.
The geospatial solutions market is segmented by solution type into hardware, software and service. The software market was the largest segment of the geospatial solutions market segmented by solution type, accounting for 50.2% or $257,140.2 million of the total in 2023.
Geospatial Solutions Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global geospatial solutions market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for geospatial solutions? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The geospatial solutions market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider geospatial solutions market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by solution type, by technology, by application and by end-user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the Russia-Ukraine war, impact of the COVID-19 pandemic and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the geospatial solutions market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by solution type, by technology, by application and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for geospatial solutions providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Solution Type: Hardware; Software; Service
- 2) By Technology: Earth Observation; Scanning; Geospatial Analytics; GNSS And Positioning
- 3) By Application: Surveying; Mapping; Geovisualization; Planning; Analysis; Land Management; Other Applications
- 4) By End-User: Energy And Utilities; Business; Transportation; Defense And Intelligence; Infrastructural Development And Urban Development; Other End-Users
- Companies Mentioned: Alphabet Inc.; Apple Inc.; Amazon Inc.; International Business Machines Corporation; Uber Technologies Inc.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; geospatial solutions indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.