North America Geospatial Analytics Market to be Driven by the Growing Advancement in Big Data Analytics by 2028
Increase in demand for geospatial solutions in
transportation sector is driving
the North America Geospatial Analytics Market in the forecast period 2024-2028.
According to
TechSci Research report, “North America Geospatial
Analytics Market – By Country, Competition
Forecast & Opportunities, 2018-2028,” the North America Geospatial Analytics Market
is expected to register robust growth during the forecast period 2024-2028. The North
America Geospatial Analytics market is rising through the forecast period,
owing to the increase in demand for GIS software in smart cities development
and urban planning. Additionally, the integration of information systems with a
hybrid cloud computing environment for surveying and collecting high quality
real-time data has anticipated the growth in the region.
Geospatial analysis refers to
a broad range of activities, emphasizes on applying various techniques to data
and comprising of geospatial or space related characteristics. The Geographic
Information System (GIS) collects geographic data, manages it for analysis, and
then displays the referenced geographic information for consumers to access. It
has successfully integrated hardware, software, and data. It aids consumers in
making decisions by making it simple and quick for them to absorb the facts.
Cost saving with increased organizational effectiveness, improved decision-making,
improved communication, improved recordkeeping, and better control of
geographic factors are all advantages.
The COVID-19 pandemic had
caused a significant impact on the economy. However, not all industries were
equally affected. While sectors such as tourism and travel faced challenges, Geospatial
analytics companies witnessed an increment in growth rates during this
challenging time. Technologies are helping ventures to streamline their
processing of both enterprise and spatial data for greater location awareness
across business processes. With the shift towards remote work, innovation in
drone/UAV technology along with increasing penetration and adoption of Internet
of things (IoT) coupled with rising demand for big data and Artificial
Intelligence and so on, saw an increase in growth. Increasing hybrid cloud
computing environment for surveying and collecting high quality real-time data
and adoption of software-based platforms will positively impact the North
America Geospatial Analytics Market.
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The North America Geospatial Analytics market is segmented into
Component, Deployment Mode, Type, Application, End User Industry, Region and
Competitive Landscape. Based on Component, the market is segmented into
Solution and Service. Based on Deployment Mode, the market is divided into
On-Premises and Cloud. Based on Type, the market is divided into Surface &
Field Analytics, Network & Location Analytics, Geo-visualization. By
Application into Surveying, Medicine & Public Safety, Disaster Risk
Reduction & Management, Climate Change Adaptation, Others). Based on End
User Industry, the market is fragmented into Automotive, Energy &
Utilities, BFSI, Agriculture, Defense & Intelligence, Government,
Healthcare, and Others.
In 2022, surveying application accounted for highest share of the Geospatial
Analytics Market of North America, and it is expected to register a very high CAGR
between 2024-2028. Remote monitoring has become an essential practice for
businesses owing to its wide-scale adoption in agriculture, and natural
resource planning, which are expected to bring significant benefits to
organizations and nations. Defense &
intelligence is the fastest-growing segment in the North America Geospatial
Analytics Market, which is projected to grow with a very high CAGR during the projected
period. During COVID-19, to ensure continuity of safety and surveillance, mostly
government institutions and defense industries are utilizing the remote sensing
satellites for patrolling border and gathering information about ground targets
and terrain analysis. In the future, remote working will likely be a developing
trend in North America, which is expected to fuel market expansion throughout
the projection period.
Key market
players in the North America Geospatial Analytics Market include:
- Alteryx, Inc.
- Advent
International Corporation
- Trimble, Inc.
- MapLarge, Inc.
- L3 Harris Technologies,
Inc.
- Bentley Systems,
Inc.
- ESRI, Inc.
- General Electric
Company
- Oracle Corporation
- Google LLC
Recent Developments
- On February 08, 2023:
Esri, a leader in mapping and location intelligence announced the release of
new online application ‘Sentinel-2 Land Cover Explorer’. The application makes visualizing
and understanding satellite data more accessible for decision-makers and will
support easy to view and leverages the same geographic information system (GIS)
technology behind the land-cover map.
- On July 12, 2022:
Trimble Navigation announced the introduction of TDC650, the next generation
high performance data collector mapping solution for GIS Field applications
portfolio. The TDC650 offers users a rugged solution with scalable
high-accuracy Global Navigation Satellite System (GNSS) enabling GNSS
positioning for industry leading applications.
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“Ongoing advancements in digital content, online streaming
with multi-OTT platforms approaches that will lead to a breakdown of barriers
between providers are boosting the North America Geospatial Analytics market in
the forecast years. Several initiatives and investments by countries like the
US and Canada in geospatial has motivated the service providers to offer
innovative solutions in geospatial environment. Businesses’ digital revolutions
are significantly contributing towards this rapid growth. Moreover, one of the
biggest factors driving the demand for geospatial analytics solutions in the North
America is the remote work, real-time revolution and emergence of big data and advancement
in computing capacity for geospatial research. The major companies such as ESRI,
Inc., Trimble Inc, Alteryx, Inc. etc. are offering numerous technologies that are
aiding the government and customers to utilize geospatial analytics vividly without
facing any challenges. Furthermore, growing investments in the GIS has generated
a need for networks that can guarantee dependability, speed, and security
across the North America.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
North America Geospatial Analytics Market By Component
(Solution, Service), By Deployment Mode (On-Premise, Cloud), By Type (Surface
& Field Analytics, Network & Location Analytics, Geo-Visualization), By
Application (Surveying, Medicine & Public Safety, Disaster Risk Reduction
& Management, Climate Change Adaptation, Others), By End User Industry
(Automotive, Energy & Utility, BFSI, Agriculture, Defense & Intelligence,
Government, Healthcare, Others), By Country, Competition Forecast &
Opportunities, 2028F has
assessed the North America Geospatial Analytics market's future development
potential and provides data and information on market size, structure, and
projected market growth. The report's goal is to give current market knowledge
and assist decision makers in making informed investment decisions. Furthermore,
the study identifies and analyzes emerging trends, as well as key drivers,
constraints, and opportunities in the North America Geospatial Analytics
market.
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