LONDON, Jan. 25, 2017 /PRNewswire/ -- "Geospatial analytics market projected to grow at a CAGR of 19.2%"
The geospatial analytics market is projected to grow from USD 30.71 billion in 2016 to USD 73.91 billion by 2021, at a CAGR of 19.2%. Companies are seeking ways to increase revenues and reduce costs, as, the global market competition continues to shrink profit margins. Organizations of all sizes are focusing more on analyzing sales and market saturation in specific territories and identifying gaps between technologies. Hence there is a huge demand for the integration of geospatial technologies with mainstream technologies, which is fueling the growth of the geospatial analytics market. However, the high cost of development and deployment of geospatial analytical solutions is a restraining factor in the geospatial analytics market.
"The surface analytics segment is expected to account for the largest market share during the forecast period"
The surface analytics segment of the geospatial analytics market by type is projected to account for the largest market share during the forecast period. Surface analytics is a process of measuring geographical data such as, the flow of materials and water across surfaces, and evaluating sight lines and routes across landscapes. Surface analytics solutions are expected to be adopted in almost every industry vertical to facilitate strategic decisions. Hence, the surface analytics segment is also projected to witness considerable growth during the forecast period.
"Europe is estimated to hold the largest share during the forecast period"
The geospatial analytics market has been studied for North America, the Asia-Pacific region, Europe, the Middle East & Africa (MEA), and Latin America. Europe is estimated to lead the geospatial analytics market in 2016. In Europe, market growth is attributed to the presence of key pioneer companies in geospatial technology as well as original equipment manufacturers (OEMs). The increasing demand for innovative geospatial analytics solutions from the government, defense & security, environmental monitoring, and agriculture sectors is expected to further enhance the growth of the market in Europe.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
The break-up of the profiles of primary participants is given below:
- By Company Type: Tier 1: 25%, Tier 2: 30%, and Tier 3: 45%
- By Designation: C-level: 55%, Director level: 20%, and Others: 25%
- By Region: North America: 70%, Europe: 20%, Asia-Pacific: 10%
Key vendors profiled in the report are as follows:
1. Trimble Navigation LTD. (U.S.)
2. Hexagon AB (Sweden)
3. Harris Corporation (U.S.)
4. DigitalGlobe, Inc. (U.S.)
5. Bentley Systems, Inc. (U.S.)
6. ESRI (U.S.)
7. General Electric Co. (U.S.)
8. MacDonald, Dettwiler & Associates, Ltd. (Canada)
9. Fugro N.V. (Netherlands)
10. RMSI (India)
This study provides a detailed segmentation of the geospatial analytics market on the basis of type, technology, application, vertical, and region. Based on type, the market is segmented into surface analytics, network analytics, geovisualization, and others. Based on technology, the market is segmented into remote sensing, GPS, GIS, and others. Based on application, the market is segmented into surveying, medicine & public safety, disaster risk reduction & management, climate change adaptation, and others. Based on vertical type, the market is further segmented into business, automotive, utility & communication, government, defense & intelligence, natural resources, and others. Geographic analysis includes regions such as, North America, Europe, Asia-Pacific, Middle East & Africa (MEA), and Latin America.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in the following ways:
- To define, describe, and forecast the global geospatial analytics market on the basis of type, technology, application, vertical, and region
- To provide detailed information regarding factors influencing the growth of the geospatial analytics market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze each submarket with respect to individual growth trends and contribution towards the overall market
- To analyze the opportunities in the market for stakeholders and details of a competitive landscape for market leaders
- To forecast the market size of segments with respect to the five main regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America
- To strategically profile key players and comprehensively analyze their core competencies
- To track and analyze competitive developments such as, mergers & acquisitions, and new product developments in the geospatial analytics market
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