GIS Market size is set to grow by USD 21.57 billion from 2024-2028, integration of BIM and GIS boost the market, Technavio

NEW YORK, June 18, 2024 /PRNewswire/ -- The global GIS market size is estimated to grow by USD 21.57 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 20.89%  during the forecast period. Integration of bim and gis is driving market growth, with a trend towards increasing use of GIS solutions for soil and water management. However, lack of planning leads to implementation failure of gis solutions  poses a challenge. Key market players include Alphabet Inc., AmigoCloud Inc., Autodesk Inc., Bentley Systems Inc., Caliper Corp., Cadcorp Ltd., Esri Global Inc., General Electric Co., Hexagon AB, Hi Target, Mapbox Inc., Maxar Technologies Inc., Pitney Bowes Inc., Rolta India Ltd., Scanpoint Geomatics Ltd., Takor Group Ltd., TomTom NV, Topcon Corp, Trimble Inc., and UrtheCast Corp..

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Market Driver

GIS market growth is driven by the widespread use of GIS solutions in soil and water management. These solutions enable effective mapping of water resources for agricultural and conservation purposes, as well as creating and tracking agricultural water rights. Notable successes include the Kerala Water Authority's 2015 project to manage water loss using GIS tools from Big Raster and IBM. IBM's plans to develop GIS solutions for water supply management in India, in collaboration with the Bangalore Water Supply and Sewerage Board, will further boost market growth. Real-time flow monitoring and operational dashboards provide better water management and equitable distribution. 

The Gis Market is currently experiencing significant growth in various sectors. Businesses are utilizing Geospatial Information Systems (GIS) for location-based analysis and decision-making. Producers are focusing on improving cartography and data visualization. The use of drones and satellite imagery is increasing for real-time monitoring and analysis. Urban planning and transportation sectors are leveraging GIS for efficient infrastructure management. Additionally, the integration of GIS with other technologies like IoT and AI is a trending development. The market is also witnessing a rise in the adoption of cloud-based GIS solutions for cost-effective and scalable operations. Overall, the GIS market is evolving rapidly, offering numerous opportunities for businesses to optimize their operations and gain a competitive edge. 

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Market Challenges

• The Global GIS market faces challenges due to the importance of precise planning. Without proper planning, there's a risk of investing in systems that don't meet end-user needs. Complexities in data availability, such as outdated information or restricted access, hinder effective analysis. Real-time data is crucial, especially in disaster management applications. Satellite technology and human-made changes also need accurate capture for successful GIS implementation. These complexities may limit market growth during the forecast period.
• The GIS market faces several challenges in the infrastructure sector. Geospatial technology is crucial for urban planning and management, yet the implementation of GIS systems requires significant investment and technical expertise. The integration of various data sources and formats can be complex and time-consuming. Additionally, ensuring data accuracy and security is a major concern. The adoption of GIS in developing countries is also limited due to economic and infrastructural constraints. Furthermore, the rapid advancement of technology necessitates continuous upgrading and training. Lastly, the lack of standardization and interoperability among different GIS systems poses a significant challenge. Addressing these challenges requires collaborative efforts from industry, academia, and government.

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Segment Overview 

This gis market report extensively covers market segmentation by  

1. Product 
• 1.1 Software
• 1.2 Data
• 1.3 Services
2. Deployment 
• 2.1 On-premises
• 2.2 Cloud
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Software-  The Global Industrial Gases (Gis) Market is experiencing steady growth, driven by increasing demand from various industries such as steel, chemicals, and healthcare. Key players in this market include Air Liquide, Linde, and Praxair. They provide a range of gases including oxygen, nitrogen, and carbon dioxide. These gases are essential for various industrial processes and medical applications. The market is expected to continue growing due to expanding industries and increasing demand for efficient production methods.

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Research Analysis

The Global Geographic Information System (GIS) market encompasses a wide range of applications in various sectors, including Transportation, where GIS technology is utilized for route optimization and real-time traffic management. In the realm of Geospatial technology, GIS software solutions are integrated with Hardware such as LIDAR and GNSS/GPS antennas to provide accurate and detailed spatial data. Smart city planning is another significant application, where GIS plays a crucial role in managing urbanization, population growth, and infrastructure development. Green buildings and Building Information Modeling (BIM) also leverage GIS for energy efficiency and resource management. The 4D GIS software facilitates visualization and analysis of infrastructure projects in real-time. Augmented reality platforms enhance the functionality of GIS by overlaying digital information on the physical world. GIS Collectors enable data collection in the field, while Cloud technology ensures data accessibility and collaboration. The Transportation sector, Utilities, Oil and Gas, Agriculture, and Urbanization are other major industries that benefit from GIS technology. Natural disasters, Mobile devices, Video games, Precision farming, and Soil mapping are additional applications that demonstrate the versatility of GIS.

Market Research Overview

The GIS market encompasses geospatial technologies and solutions that enable the visualization, analysis, and management of location-referenced information. These systems utilize satellite and aerial imagery, street maps, topographic data, and demographic information to provide insights for various industries, including transportation, utilities, real estate, and environmental management. GIS technologies facilitate efficient decision-making, resource allocation, and infrastructure planning. Additionally, the integration of IoT, AI, and machine learning enhances the capabilities of GIS systems, enabling predictive analytics and real-time monitoring. The global GIS market is expected to grow significantly due to increasing demand for location-based services and advanced analytics.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Software
• Data
• Services
• Deployment
• On-premises
• Cloud
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/

SOURCE Technavio