NEW YORK, Feb. 13, 2017 /PRNewswire/ -- The geospatial analytics market is estimated to grow at an approximated CAGR of 20% during the forecast period of 2017-2024. A proliferating requirement for geospatial analytics solution accompanied with artificial intelligence and geospatial data's commoditization are the primary drivers for the market growth. The ascending adoption of the geospatial analytics by the government and public safety organizations for public safety and security is leading to the market growth.
The geospatial analytics market is segmented into Type, Technology, Application, by End-user and Geography. The market on the basis of type is segmented into Surface Analysis, Geovisualization, Network Analysis and Others. On the basis of technology, the market is segmented on the basis of Remote Sensing Market, Gis Market, Gps Market and Others. The market on the basis of Application is segmented into Medicine, Surveying, and Disaster Risk Reduction, Public Safety, and Management, and Others. The end-user market is segmented into Business, Utility, and Communication, Automotive, Defense and Intelligence, Government and Others. On the basis of Geography, the geospatial market is segmented into North America, Europe, Asia-PAcific, Middle East and Africa and Latin America.
Advancements in technology rise in the usage and the current trends in convergence and integration of geospatial technologies with increased demand for application of geospatial analytics in the planning of cities and towns are the drivers for the expansion of geospatial analytics market.
Europe holds a colossal share of the global geospatial analytics market. The Asia-Pacific market is anticipated to accelerate at relatively high CAGR during the years of forecast due to an accelerated adoption of geospatial analytics in diverse industries. The North America Geospatial market is projected to grow during the forecast period. The Advancement in technologies and development in integrated technologies that are based on locations will lead to inflation in the market growth.
The dominant market players in the Geospatial analytics are MDA Corporation, Bentley Systems Inc, Fugro, EsriInc, Trimble Geospatial, Hexagon AB, Harris Corporation, Critigen, Atkins and General Electric.
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