The global geospatial analytics market was valued at USD 55.6 billion in 2022 and it is anticipated to grow further till USD 280.8 billion by 2032, at a CAGR of 17.6% during the forecast period.
Geospatial analytics is the process of analyzing data that has a geographic component to it. This can be data that is explicitly geographic, like latitude and longitude, or data that can be mapped to a geographic space, like addresses or zip codes. Geospatial analytics can be done using a variety of methods, including GIS (geographic information systems), GPS (global positioning systems), and geocoding (mapping data to specific geographic locations). Geospatial analytics can be used for a variety of purposes, including market analysis, customer segmentation, route optimization, and location-based marketing.
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Market Driver and Trends
There are a number of factors that are driving the growth of the geospatial analytics market.
One of the key drivers is the increasing availability of data. With the growth of the internet and the rise of connected devices, organizations are collecting more data than ever before. This data can be used to understand the world around us and make better decisions.
Another driver is the increasing use of artificial intelligence (AI) and machine learning. These technologies are being used to analyze data more effectively and to identify patterns that would be difficult to spot with the naked eye.
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Market Segments
By Type
- Surface Analysis
- Network Analysis
- Geovisualization
By End User Vertical
- Agriculture
- Utility and Communication
- Defense and Intelligence
- Government
- Natural Resources
- Others
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Major Players in the Global Geospatial Analytics Market
The key players studied in the report are Alteryx, Bentley Systems, CARTO, Descartes Labs, ESRI, Fugro, General Electric, Geospin, Google, and Hexagon AB among others.
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