Home Technology Geospatial Analytics Market Size, Top Trends, Competitive Landscape 2031

Geospatial Analytics Market

Geospatial Analytics Market Size, Share & Trends Analysis Report By Component (Software, Service), By Type (Surface and Field Analytics, Network and Location Analytics, Geovisualization, Others), By Applications (Surveying, Medicine and Public Safety, Military Intelligence, Disaster Risk Reduction and Management, Marketing Management, Climate Change Adaption (CCA), Urban Planning, Others), By End-User (Defense and Internal Security, Retail and Logistics, Government, Banking, Financial Services and Insurance (BFSI), Energy and Utilities, Agriculture, Healthcare and Life Sciences, Infrastructure and Urban Development, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRTE55758DR
Study Period 2019-2031 CAGR 11.9%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 84.98 Billion
Forecast Year 2031 Forecast Year Market Size USD 233.76 Billion
Largest Market North America Fastest Growing Market Asia Pacific
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Market Overview

The global geospatial analytics market size was valued at USD 84.98 billion in 2022. It is estimated to reach USD 233.76 billion by 2031, growing at a CAGR of 11.9% during the forecast period (2023–2031). Global geospatial analytics is primarily driven by the surging urbanization across the globe, which necessitates the use of these tools to ensure the efficient planning and management of urban areas as a whole. Moreover, the rising urbanization also creates opportunities for the development of smart cities, further fostering the global geospatial analytics market.

Geospatial analytics is the utilization of spatial or geographical data to examine and comprehend trends, patterns, and relationships inside a particular location or geographic area. Geospatial analysis integrates geography, statistics, mathematics, and computer science methodologies to understand spatial linkages and patterns. Geospatial analytics encompasses the examination of many data kinds, like spatial data, remote sensing data, Geographic Information System (GIS) data, and location-based data.

Geospatial analytics finds utility in many sectors, such as urban planning, environmental monitoring, agriculture, transportation, natural resource management, disaster response, etc. It aids companies in making well-informed decisions by visually representing and comprehending spatial connections, recognizing patterns, and forecasting trends within a geographical framework.

Market Dynamics

Market Drivers

Increasing Urbanization

Quick and unregulated urbanization presents numerous obstacles to cities' social and environmental sustainability. Geospatial analytics is essential for aiding urban planning, facilitating infrastructure construction, and optimizing resource allocation. Geospatial analytics facilitates the monitoring of urban expansion, the identification of ideal locations, the optimization of transportation networks, the management of traffic congestion, the reduction of greenhouse gas emissions, and the enhancement of the quality of life for urban residents.

According to the United Nations, the share of the globe's population living in cities is anticipated to surge to 68% by 2050 from 56% in 2021. This generates a substantial need for geospatial analytics to bolster smart city programs and urban development projects. For instance, the Smart Dubai program seeks to utilize geospatial analytics to convert Dubai into a smart and environmentally friendly city by 2030. This will be achieved by using data and technology to enhance its inhabitants' effectiveness, security, and well-being. Such factors are anticipated to stimulate global market growth.

Market Restraint

Data Security and Privacy Concerns

The geospatial analytics market encounters various obstacles concerning the privacy and safety of geospatial data and applications. Geospatial data encompasses confidential and personal details regarding individuals, organizations, and locations, including identity, behavior, interests, and activities. Unauthorized access, abuse, or breach of geospatial data can pose prominent risks to the privacy and security of the individuals or organizations that hold and use the data.

Geospatial data and applications are susceptible to cyberattacks, hacking, spoofing, and jamming, which can undermine the accuracy, dependability, and integrity of the data and the solutions. Moreover, the absence of unambiguous and uniform legislation and standards regarding the gathering, retaining, and disseminating of geospatial data across various nations and regions can impede the expansion of the global market.

Market Opportunities

Integration of AI and Machine Learning

Incorporating artificial intelligence (AI) and machine learning (ML) offers a highly profitable opportunity for the global market. The utilization of sophisticated analytics algorithms improves the capacity to extract practical insights from geospatial data. Machine learning algorithms can independently analyze large amounts of information, detecting complex patterns and trends that would be difficult for conventional methods. Thus, the key players are increasingly integrating AL and ML solutions in geo-analytics tools.

For instance, in October 2023, SoilMate, a European company offering geo-analysis tools, recently introduced SoilMate.ai, a web-based service focused on remote earth analytics. SoilMate is a platform that aims to streamline geo-analytic acquisition by providing satellite imagery and pre-built geo-analytical models that utilize artificial intelligence. SoilMate provides a novel approach for extracting valuable information from geospatial data, targeting both individuals interested in sustainable supply chains and experienced experts, researchers, and enterprises in the agriculture and forestry sectors. This is anticipated to generate opportunities for market expansion.

Regional Analysis

Based on region, the global geospatial analytics market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global market shareholder and is expected to expand substantially during the forecast period. The expansion of the geospatial analytics market in North America is primarily fueled by the rising need for geospatial solutions across diverse industries, including defense, government, healthcare, and transportation. The region is characterized by a significant presence of prominent companies, like Esri, Trimble, Hexagon, and IBM, which provide advanced and tailored geospatial solutions to meet varied customer requirements. These key players are launching new products to enhance their market share. For instance, ESRI, a geospatial image analytics solutions firm headquartered in the United States, unveiled the ArcGIS platform in January 2021. The ArcGIS Platform by ESRI operates based on a cloud consumption model. App developers commonly employ this technology to include location functionalities in their apps, company operations, and products. It facilitates the accessibility of geospatial technology.

Additionally, the region's geospatial sector benefits from a helpful regulatory environment and a favorable investment climate. In 2021, the U.S. Department of Commerce introduced the Geospatial Data Act, which seeks to enhance the organization, utilization, and dissemination of geospatial data across federal, state, municipal, and tribal agencies and the commercial sector. Moreover, there has been a huge amount of geospatial data owing to the advancements in the speed of data generation. For instance, in March 2023, Mach9 introduced software that rapidly generates geospatial data at high speeds. According to the North American business, the Mach9 software platform generates 2D and 3D maps from mobile Lidar at a speed that is 30 times faster than current alternatives. This huge amount of data requires efficient geospatial analytics tools to process the data, thereby driving the market in the North American region.

The Asia-Pacific geospatial analytics market is propelled by swift urbanization, escalating infrastructure development, and burgeoning government measures to foster the geospatial sector in the area. In June 2023, Smart City Thiruvananthapuram Limited planned to develop a Geospatial Management Information System for specific wards in the city. The project involves the creation of a Geographic Information System (GIS) and a versatile household survey, as well as the generation of a base map, 3D mapping, LiDAR survey, and the development of web GIS. According to the tender document, GIS is a computerized system for acquiring, storing, manipulating, analyzing, managing, and presenting geographic data. Such projects are anticipated to stimulate market expansion in the region.

Several geospatial analytics applications in the Asia-Pacific region include the GeoSmart Cities program, an Indian government initiative aimed at utilizing geospatial technologies to build smart cities; the China High-resolution Earth Observation System (CHEOS), a comprehensive Earth observation program established by the Chinese government; and the Asia-Pacific Spatial Data Infrastructure (APSDI), a regional cooperation framework focused on the development and sharing of geospatial data and services. Moreover, the government authorities are also leveraging geospatial analytics techniques to enhance spatial planning.

For instance, in December 2023, The Ministry of Panchayati Raj introduced technologies such as the GIS app "Gram Manchitra" and the mobile solution "mActionSoft" to enhance the authority and spatial planning at the grassroots level of Gram Panchayats. Geospatial technology provides a consolidated platform for visualizing and strategizing developmental projects, hence aiding in creating the Gram Panchayat Development Plan (GPDP). Such factors are anticipated to expedite the Asia-Pacific region's market growth.

Report Scope

Report Metric Details
Segmentations
By Component
  1. Software
  2. Service
By Type
  1. Surface and Field Analytics
  2. Network and Location Analytics
  3. Geovisualization
  4. Others
By Applications
  1. Surveying
  2. Medicine and Public Safety
  3. Military Intelligence
  4. Disaster Risk Reduction and Management
  5. Marketing Management
  6. Climate Change Adaption (CCA)
  7. Urban Planning
  8. Others
By End-User
  1. Defense and Internal Security
  2. Retail and Logistics
  3. Government
  4. Banking, Financial Services and Insurance (BFSI)
  5. Energy and Utilities
  6. Agriculture
  7. Healthcare and Life Sciences
  8. Infrastructure and Urban Development
  9. Others
Company Profiles Alteryx Inc. Bentley Systems Incorporated HERE Global B.V. ESRI Fugro N.V. General Electric Company Hexagon AB Google LLC Foursquare Microsoft Corporation Trimble Maxar Technologies SAP SE
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global geospatial analytics market is segmented by component, type, application, and end-user. 

Based on components, the global geospatial analytics market is bifurcated into software and services.

The software segment contributes to the highest market share. Geospatial analytics software is a specialized software specifically developed to analyze and interpret data containing geographical or spatial information. This software can evaluate several forms of spatial data, including maps, satellite imagery, GPS data, and other related information. Users can analyze the connections between various spatial elements. Data mapping is made easier by these tools, which allow addresses or place names to be converted into geographic coordinates (latitude and longitude) and vice versa. Some popular geospatial analytics software examples include ArcGIS, developed by Esri, QGIS, Google Earth Engine, and Tableau.

Based on type, the global market is divided into surface and field analytics, network and location analytics, geovisualization, and others. 

The surface and field analytics segment owns the highest market share. Surface and field analytics are two separate yet interconnected ideas. Surface analytics is the process of examining and analyzing data or information that is visible on the outer layer of a certain object or system. Surface analytics within the domain of geospatial analysis may encompass the examination of Earth's surface attributes, including but not limited to elevation, land cover, and terrain features.

In contrast, field analytics generally pertains to examining data gathered in non-traditional office environments, encompassing a range of disciplines, including environmental science, agriculture, and business operations. This geospatial analysis can help measure soil moisture, temperature, and crop health in agriculture files to enhance farming techniques.

Based on application, the global geospatial analytics market is divided into surveying, medicine and public safety, military intelligence, disaster risk reduction and management, marketing management, climate change adaption (CCA), urban planning, and other applications. 

The surveying segment dominates the global market. Geospatial analysis improves surveying by offering tools for analyzing and interpreting spatial data, resulting in more informed decision-making in urban planning, infrastructure development, natural resource management, and emergency response. It also aids in the examination of traffic patterns, the optimization of transportation routes, and the preparation of new infrastructure projects. Moreover, geospatial analysis is vital in evaluating and forecasting the likelihood of natural disasters, helping develop emergency response plans. Following a disaster, survey data and GIS techniques are employed to evaluate and delineate the magnitude of harm inflicted upon infrastructure and natural resources.

Based on the end-users, the global market is segmented into defense and internal security, retail and logistics, banking, financial services and insurance (BFSI), government, energy and utilities, agriculture, healthcare and life sciences, infrastructure and urban development, and others. 

The defense and internal security segment is the largest contributor to the market share. Geospatial analysis is vital in defense and internal security since it utilizes geographic information to improve decision-making, strategic planning, and operational performance. Geospatial analysis facilitates the examination and visualization of data on possible hazards, such as the mobilization of hostile troops, acts of terrorism, or border breaches.

Moreover, geospatial analysis plays a vital role in the surveillance and protection of borders. It aids in monitoring border operations, detecting unauthorized border crossings, and efficiently allocating resources. It is also crucial to strategize and synchronize catastrophe response endeavors. It aids in identifying impacted regions, evaluating infrastructure destruction, and determining resource distribution based on priority.

Market Size By Component

Recent Developments

  • July 2023- 1Spatial, a company specializing in geospatial software and solutions for enhanced data governance, introduced 1Capture, a mobile application that allows for customizable and accurate data capture on the first attempt. 1Capture is a commercially accessible mobile GIS editing tool that is versatile and customizable and assists users in resolving a range of practical issues.
  • November 2023- IBM and Hugging Face, an open-source AI platform, declared that Hugging Face will offer the watsonx.ai geospatial foundation model developed by IBM using NASA satellite data. It will be the first-ever open-source AI foundation model developed with NASA and the largest geospatial foundation model on Hugging Face.

Top Key Players

Geospatial Analytics Market Share of Key Players

Alteryx Inc. Bentley Systems Incorporated HERE Global B.V. ESRI Fugro N.V. General Electric Company Hexagon AB Google LLC Foursquare Microsoft Corporation Trimble Maxar Technologies SAP SE

Frequently Asked Questions (FAQs)

How big is the geospatial analytics market?
The global geospatial analytics market was valued at USD 84.98 billion in 2022. It is estimated to reach USD 233.76 billion by 2031, growing at a CAGR of 11.9% during the forecast period (2023–2031).
North America region has the highest growth rate in the geospatial analytics market.
Increasing Urbanization are the key drivers for the growth of the geospatial analytics market
The key players in the global geospatial analytics market include Alteryx Inc., Bentley Systems Incorporated, HERE Global B.V., ESRI, Fugro N.V., General Electric Company, Hexagon AB, Google LLC, Foursquare, Microsoft Corpora


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