NEW YORK, June 1, 2016 /PRNewswire/ -- The global geospatial analytics market was valued at USD 27.42 billion in 2015 and is projected to reach USD 72.21 billion by 2020, at a CAGR of 21.4% from 2015 to 2020. The market is driven by factors, such as convergence and integration, need for security and safety, and commoditization of geospatial information.
"The remote sensing technology segment dominated the overall market in 2015"
The remote sensing segment market in North America is witnessing exponential growth due to various governmental bodies in the region, such as the U.S. Geological Survey (USGS) and the American Society for Photogrammetry and Remote Sensing (ASPRS), fostering the use of remote sensing to meet local, national, and global challenges. Globally, the remote sensing technology market is growing, with the technology's application penetrating various industries and sectors, such as agriculture, real estate, construction, healthcare, retail, and so on.
"Geospatial analytics market growing significantly due to developments in several trends in GIS technology"
GIS technology has given a significant boost to the geospatial analytics market due to developments in several trends, such as increase in the amount of geospatial information gathered through smartphones, GPS devices, and social media, among others.
"Europe accounted for the largest share in the geospatial analytics market"
The geospatial analytics market in Europe is driven by high demand for GIS and GPS technologies for monitoring and tracking, location mapping, and transfer of real-time information. Europe is estimated to account for the largest share of the overall geospatial analytics market in 2015. This large market share is mainly attributed to huge investments made in the field of geospatial analytics by key players in European countries. The Asia-Pacific market is expected to register the highest CAGR during the forecast period. Advanced technologies and smart city developments are driving the market in this region.
Break-up of profile of primary participants for the report as given below:
- By Company Type - Tier 1 – 25 %, Tier 2 – 30%, and Tier 3 – 45%
- By Designation - C level – 55%, Director level – 20%, Others – 25%
- By Region - North America - 70%, Europe – 20%, APAC – 10%
The various key market vendors and service providers profiled in the report are as follows:
1. Trimble Navigation limited
2. General Electric
3. MDA Corporation
4. Bentley Systems, Inc.
7. Hexagon AB
8. Fugro N.V.
9. Harris Corporation
10. WS Atkins PLC
The report will help market leaders/new entrants/end users in this market in the following ways:
1. The report provides deep analysis and comprehensive view of the overall market and closest approximation about global numbers and segmentaition across types, technologies, applications, verticals, and regions.
2. The report provides analysis about strategies followed by top players to grab more market share, and insights to understand market dynamics comprising key market drivers, restraints, challenges, and opportunities.
3. The report will help various stakeholders to understand competetive landscape, products & services offered, recent developmens, new product launches, contracts/ agreements, and mergers & acquisitions taking place in the marketspace.
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