United States Geospatial Analytics Market to be Driven by the Growing Advancement in Big Data Analytics by 2028
Increase in demand for GIS software in smart cities
development and urban planning is driving the Geospatial Analytics Market in
the forecast period across United States.
According to TechSci Research report, “United States Geospatial
Analytics Market - By Region, Competition
Forecast & Opportunities, 2018-2028F”, the United States Geospatial
Analytics Market is expected to register robust growth during the forecast
period 2024-2028.
The United States 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, which emphasize on gathering, manipulating and displaying
geographic information system (GIS) data and imagery including GPS and satellite
photographs. The Geographic Information System (GIS) collects geographic data,
manages it for analysis, and then displays the refined 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, communication, recordkeeping, and
better control of geographic factors are all advantages.
The COVID-19 pandemic created an adverse
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, has shown 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 United States
Geospatial Analytics Market.
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The United States Geospatial Analytics market
is segmented into component, deployment mode, type, application, end user
industry, and region. Based on component, the market is segmented into solutions
and service. Based on deployment mode, the market is divided into on-premises
and clouds. Based on type, the market is separated into surface & field
analytics, network & location analytics, and geo-visualization. By
Application, into surveying, medicine & public safety, disaster risk
reduction & management, climate change adaptation, and others. Based on end
user industry, the market is fragmented into automotive, energy &
utilities, BFSI, agriculture, defense & intelligence, government,
healthcare, and others. The market analysis also studies the regional segmentation
to devise regional market segmentation, divided among West, North-East,
Mid-West, and South region.
In 2022, surveying application accounted
for highest share of the Geospatial Analytics market of United States, and it
is expected to grow at 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. It is expected to bring significant benefits to organizations
and nations. Military intelligence is the fastest-growing segment in the United
States Geospatial Analytics Market, which is projected to grow with a 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 borders and gathering
information about ground targets and terrain analysis. In the future, remote
working will be a developing trend in United States, which is expected to fuel
market expansion throughout the projection period.
Key market players in the United States
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 Development
On February 08, 2023: Esri, a leader in mapping and
location intelligence announced the release of a 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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“As the market is yet to mature, there
are ample opportunities for investors in the United States geospatial analytics
market. While the country’s several initiatives and investments have motivated
the service providers to offer an innovative solution 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 solution in the United States are, the remote work, real-time
revolution and emergence of big data, and advancement in computing capacity for
geospatial research. The presence of top companies is offering numerous technologies
that help in allowing the employees to utilize it without facing any challenges.
Furthermore, government investments have generated a need for networks that can
guarantee dependability, speed, and security across the United States.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
United States 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, Utility &
Communication, Government, Defense & Intelligence, Others), By Region,
Competition Forecast & Opportunities, 2028F has assessed the United
States 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 analyses emerging trends, as well as key drivers, constraints,
and opportunities in the United States Geospatial Analytics market.
Contact
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