Global Geospatial Analytics Market

NEW YORK, Dec. 9, 2019 /PRNewswire/ --

Report Scope:
The scope of this report is broad and covers global markets for geospatial analytics, which is used in various applications, ranging from urban and infrastructure planning to public health and disaster risk reduction and management.The market is broken down by types, components, applications, End-User industries and regions.

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Revenue forecasts from 2019 to 2024 are presented for each type, component, application, End-User industry and regional market.

The report also includes a discussion of the major players in each of the regional markets for geospatial analytics.It explains the major market drivers of the global market for geospatial analytics, current trends within the industry and regional market dynamics.

The report concludes with a special focus on the vendor landscape. It includes detailed profiles of the major vendors in the geospatial analytics industry globally.

Report Includes:
- 63 tables
- An overview of global geospatial analytics market
- Analyses of global market trends, with data from 2018, 2019, and projections of compound annual growth rates (CAGRs) through 2024
- Details about geospatial analysis and description of their applications such as climate change modelling, weather monitoring, sales analysis, crisis management, animal population management, and human population forecasting
- Knowledge about geographic information systems (GIS) and discussion on their usage in predicting, managing, and documenting all kinds of phenomena affecting the planet, its systems, and inhabitants
- Coverage of concerns regarding regulatory and legal issues with geospatial technology
- Comprehensive profiles of leading companies in the industry, including Alphabet Inc., Autodesk Inc., General Electric Co., Microsoft Corp., and Oracle Corp.

Summary
Geospatial analytics involves gathering, manipulating and visualizing georeferenced data such as imagery, satellite photographs and historical information.It utilizes geographic coordinates—latitudes and longitudes—along with street addresses, postal codes and other identifiers to develop geographical models such as charts, graphs, cartograms and statistics.

It also helps in creating data visualizations, which makes it possible to understand complex patterns and relationships better.

Geospatial analytics is widely used in various End-User industries, from defense and internal security to construction and utilities.Applications in these End-User industries include surveying, medicine, public safety, disaster risk reduction and management, climate change adaption, marketing management, credit and risk analysis and route planning, among others.

Over the forecast period, the defense and internal security sector is estimated to be the fastest-growing End-User industry in the global geospatial analytics market. Geospatial technology plays a critical role in military operations due to their spatial nature. It enables defense forces to gather, analyze and disseminate a vast amount of imagery and
intelligence data, which helps them make tactical decisions, from national security to planning strikes in specific areas.

Reasons for Doing This Study
The global geospatial analytics market is expected to reach $110.9 billion by 2024, from nearly $53.2 billion in 2019, growing at a CAGR of 15.8% from 2019 to 2024. The climate change adaptation segment is estimated to be the fastest-growing application segment of the global geospatial analytics market over the forecast period. The market demand is primarily driven by growing concerns regarding climate change and rising economic losses due to natural hazards across the world.

A comprehensive study of the various applications of geospatial analytics is extremely important in understanding the crucial role it plays in different End-User industries.

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