New York, 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.
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- Bentley Systems
- Descartes Labs
- General Electric
There are four key trends in Geospatial Analytics technology:
Increased accuracy and resolution: As technology advances, the accuracy and resolution of geospatial data is increasing. This data is becoming more reliable and can be used to make more informed decisions.
Increased use of real-time data: The use of real-time data is increasing in geospatial analytics. This data can be used to monitor and respond to changes in the environment or to track the movement of people or objects.
Increased use of big data: The use of big data is increasing in geospatial analytics. This data can be used to improve the accuracy of predictions and to identify trends.
Increased use of artificial intelligence: The use of artificial intelligence is increasing in geospatial analytics. This technology can be used to automate the analysis of data and to improve the accuracy of predictions.
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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- Surface Analysis
- Network Analysis
By End User Vertical
- Utility and Communication
- Defense and Intelligence
- Natural Resources
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