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Redding, California - August 24, 2022

Geospatial Solutions Market Worth $845.7 Billion by 2029

Geospatial Solutions Market by Offering, Application, Organization Size, Deployment Mode, End-use Industries (Natural Resources; Security & Defense; BFSI; Media & Entertainment; Healthcare; Architecture, Engineering, and Construction) - Global Forecast to 2029


Meticulous Research®—a leading global market research company, published a research report titled, ‘Geospatial Solutions Market by Offering, Application, Organization Size, Deployment Mode, End-use Industries (Natural Resources; Security & Defense; BFSI; Media & Entertainment; Healthcare; Architecture, Engineering, and Construction) - Global Forecast to 2029.’

According to this latest publication from Meticulous Research®, the global geospatial solutions market is projected to reach USD 845.7 billion by 2029, at a CAGR of 16.9% from 2022 to 2029. This market is driven by the surge in demand for GIS & asset mapping solutions, the growing proliferation of IoT and connected devices, and the high adoption of cloud computing technology. However, the data privacy concerns and high set-up and operating costs are notable restraints for market growth. The growing demand for mobile mapping systems and government initiatives to promote smart infrastructure are expected to offer significant growth opportunities for the stakeholders in the geospatial solutions market. However, geospatial data integration and the lack of the CORS network are expected to pose serious challenges to the growth of the geospatial solutions market.

The global geospatial solutions market is segmented by offering (solutions, services), application (surveying, military/border security, disaster management, marketing management, urban planning, public safety, asset management), organization size (SMEs, large enterprises), deployment mode (on-premise deployment, cloud deployment), and end-use industries (natural resources; security & defense; BFSI; media & entertainment; healthcare; architecture, engineering & construction; education; telecom & IT; manufacturing; oil & gas; retail; transportation & logistics; and utilities). The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on offering, the global geospatial solutions market is segmented into solutions and services. In 2022, the services segment is expected to account for the largest share of the global geospatial solutions market.  The large market share of this segment is attributed to the growing demand for geospatial services such as satellite launch, geocoding, indoor mapping, etc. This segment is projected to register the highest CAGR during the forecast period.

Based on application, the geospatial solutions market is segmented into surveying, military/border security, disaster management, marketing management, urban planning, public safety, and asset management. In 2022, the surveying segment is expected to account for the largest share of the geospatial solutions market. The large market share of this segment is attributed to the growing need for interpretation/analysis and presentation of natural, social and economic environments, the rising demand for effective decision making, reliable record retention, better land management, and the growing popularity of land surveying solutions for infrastructure management and development, land management and reform, and urban & regional planning. This segment is projected to register the highest CAGR during the forecast period.

Based on organization size, the global geospatial solutions market is segmented into SMEs and large enterprises. In 2022, the large enterprises segment is expected to account for the largest share of the global geospatial solutions market. The large market share of this segment is attributed to the availability of capital for data gathering and the easy adoption of advanced technologies to process big data. However, the SMEs segment is projected to register the highest CAGR during the forecast period.

Based on deployment mode, the geospatial solutions market is segmented into on-premise deployment and cloud deployment. In 2022, the cloud deployment segment is expected to account for the largest share of the global geospatial solutions market. The large market share of this segment is attributed to the rising demand for viewing, creating, monitoring, managing, and analyzing geospatial data through cloud platforms; the rising demand for cloud-based GIS solutions for landslide mapping & safe construction planning; and the growing benefits offered by cloud-based solutions such as data access, easy distribution, and centralized data capture and analysis. This segment is projected to register the highest CAGR during the forecast period.

Based on end-use industry, the global geospatial solutions market is segmented into natural resources; security & defense; BFSI; media & entertainment; healthcare; architecture, engineering & construction; education; telecom & IT; manufacturing; oil & gas; retail; transportation & logistics; and utilities. In 2022, the transportation & logistics segment is expected to account for the largest share of the global geospatial solutions market. The large market share of this segment is attributed to the growing demand for geospatial data for transportation management & planning; the rising demand for location-enabled intelligent mapping solutions, geospatial solutions to promote route planning to ensure safety; the increasing need for geospatial data to improve delivery schedules to track and expedite shipments; and the increasing benefits offered by geospatial solutions for the transportation industry, such as fleet & workforce management, and effective last-mile delivery. This segment is projected to register the highest CAGR during the forecast period.

Based on geography, the global geospatial solutions market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the global geospatial solutions market. North America's large market share is attributed to the presence of well-established geospatial solutions providers, favorable government policies which support easy sharing of geospatial data among private organizations, the rising demand for connected vehicles, and the high potential to deploy geospatial solutions across end-use industries such as government agencies, military & defense industry, utility companies, and engineering and construction companies.

Key Players:

The key players operating in the global geospatial solutions market are HERE Technologies (Netherlands), ESRI (U.S.), TomTom N.V. (Netherlands), Google LLC (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Trimble, Inc. (U.S.), Orbital Insights (U.S.), Oracle Corporation (U.S.), RMSI Pvt. Ltd. (India), Precisely (U.S.), General Electric (U.S.), Hexagon AB  (Sweden), Cyient Limited (India), L3Harris Technologies, Inc. (U.S.), Fugro N.V. (Netherlands), Foursquare (U.S.), Carmenta (Sweden), Maxar Technologies (U.S.), and Cesium GS, Inc. (U.S.).

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Key questions answered in the report-

  • Which are the high-growth market segments in terms of offering, application, deployment mode, organization size, end-use industry, and geography?
  • What is the historical market for geospatial solutions across the globe?
  • What are the market forecasts and estimates for 2022-2029?
  • What are the major drivers, restraints, opportunities, challenges, and trends in the global geospatial solutions market?
  • Who are the major players in the global geospatial solutions market, and what share of the market do they hold?
  • How is the competitive landscape?
  • What are the recent developments in the global geospatial solutions market?
  • What are the different strategies adopted by the major players in the market?
  • What are the geographic trends and high-growth countries?
  • Who are the local emerging players in the global geospatial solutions market, and how do they compete with the other players?

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Report ID: MRICT - 104643 Pages: 250 Formats*:PDF Category: Information and Communications Technology
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