Dublin, July 29, 2021 (GLOBE NEWSWIRE) -- The "Geographic Information System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The geographic information system market (GIS) (henceforth, referred to as the market studied) is expected to register a CAGR of 10.8% over the forecast period, 2021-2026. GIS powers millions of decision on the daily basis around the world, as GIS is used for pinpointing new store locations, analyzing crime patterns, routing in car navigation, forecasting and predicting weather, etc.
The increasing demand of location-based analytics among the businesses to improve operational efficiency and enhance the decision-making process is driving the market. Additionally, the growing need to integrate conventional data with the spatial data to obtain valuable insights from location-based information may offer new growth avenues for the geographic information system market over the forecast timeline.
The penetration of the IoT platforms in business operations has fueled the generation of real-time location data for offering highly relevant and location-specific service to the customers. Moreover, the integration of GIS with IoT devices provides accurate data to users using the geospatial data analysis. For instance, an IoT-enabled valve can be monitored from anywhere around the world using geospatial data.
The development of smart cities and urbanization, integration of geospatial technology with mainstream technologies for business intelligence, the growing investments in modern GIS solutions are some of the major factors driving the growth of the GIS market.
The increasing need for prediction and identification of the natural disasters and to minimizing damages is fueling the growth of geographic information systems market. Nowadays, GIS is being used in detecting, understanding, and responding to infectious disease outbreak of coronavirus (COVID-19), by using its capabilities, such as spatial analytics, mapping, and location intelligence. Health officials and government agencies are mapping confirmed and active cases, fatalities, and recoveries to identify where COVID-19 infections have occurred.
Key Market Trends
The Rising Smart Cities Development and Urban Planning to Drive the Market Growth
- Smart cities are data-driven and dependent on sharing of real-time awareness. Collecting data from thousands of IoT sensors and analyzing it by an enterprise, GIS creates visualization of the data on a map for immediate actionable insights. These insights can be used to track the delivery of city services and highlight areas where local council services need improvement.
- Owing to the developing smart cities project, the GIS solutions are implemented to create generalized location enabled platform for use-cases analysis in smart cities environments. These include automated natural hazard monitor web GIS with SMS warning, climate monitoring, urban design, intelligent transportation systems, and disaster management SDI.
- Specialists apply GIS in urban planning for analysis, modeling, and visualization. By processing geospatial data from satellite imaging, aerial photography, and remote sensors, users gain a detailed perspective on land and infrastructure. These benefits of GIS are driving the growth of GIS software market.
- The increasing government applications in developing countries, such as China and India, are boosting the growth of GIS. For instance, initiative of the Indian government toward the development of 100 smart cities across the country is expected to provide considerable opportunities for the adoption of geographic information system solutions in urban planning, facility management, and water and wastewater management.
Asia-Pacific to Register Highest Market Growth
- One of the significant factors driving the market growth in the region is the rising adoption of geographic information for expanding geographical data cloud analytics adoption in utilities, defense, transportation, agriculture, construction, etc. The region also has the benefits of end-results of the efforts undertaken by the key players looking forward to increasing its market share.
- The growing demand for geographic information system solutions for government application in developing countries, such as China and India, is driving the growth of the GIS market in the APAC region. Recently, the Government of India started "Digital India" initiative, where the government, along with private sector companies, is expected to further invest in improving internet connectivity and location-based services infrastructure, across the country.
- The Japanese GIS market is witnessing a stable growth, due to the shrinking agriculture industry with rapid urbanization. XAG AND Bayer Crop Science signed a business agreement for drone application technology in Japan, to meet the challenge of reducing agriculture labor. Such initiatives are estimated to propel the market growth in the region.
- Over the years, several geographic information system vendors have also come-up with innovative products to suit the requirements of governments in developing countries. The country is also expected to develop geographic information system-based data for land records, land management, and ownership details.
Competitive Landscape
The geographic information system market appears to be led by market leaders, such as Hexagon AB, Topcon Corporation, Trimble Inc., Autodesk Inc., Environmental Systems Research Institute Inc. (ESRI), Bentley Systems Inc., Caliper Corporation, Pitney Bowes Inc. Major Players are investing in R&D for innovating their products, continuously. Some of the key developments in the market are:
- In October 2019, Hexagon's Geospatial division, a world leader in location intelligence solutions, launched Power Portfolio 2020, the latest version of its leading photogrammetry, remote sensing, GIS, and cartography products.
- In March 2019, ESRI launched R&D Center in New Delhi, India. The new location may focus on data science, deep learning, and geospatial artificial intelligence (GeoAI) solutions, revolutionizing spatial analytics to overcome some of the world's biggest challenges.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Market Drivers
4.3.1 Growing role of GIS in smart cities ecosystem
4.3.2 Integration of location-based mapping systems with business intelligence systems
4.4 Market Restraints
4.4.1 Integration issues with traditional systems
4.4.2 Data quality and accuracy issues
4.5 Assessment of Impact of COVID-19 on the Industry
5 MARKET SEGMENTATION
5.1 Component
5.1.1 Hardware
5.1.2 Software
5.2 Function
5.2.1 Mapping
5.2.2 Surveying
5.2.3 Telematics and Navigation
5.2.4 Location-based Services
5.3 End User
5.3.1 Agriculture
5.3.2 Utilities
5.3.3 Mining
5.3.4 Construction
5.3.5 Transportation
5.3.6 Oil and Gas
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Trimble Inc.
6.1.2 Spatialworks
6.1.3 Geosoft
6.1.4 ESRI Inc.
6.1.5 Caliper Corporation
6.1.6 Topcon Positioning Systems
6.1.7 Pitney Bowes Inc.
6.1.8 Hexagon AB
6.1.9 Bentley Systems
6.1.10 Autodesk Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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