Global GIS in Telecom Sector Market Expected to Reach $7,773 Million by 2023 - Allied Market Research
PORTLAND, Oregon and PUNE, India, October 5, 2017 /PRNewswire/ --
According to a new report by Allied Market Research, titled, "GIS in Telecom Sector Market by Type, Deployment Model, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global GIS in Telecom Sector Market was valued at $1,633 million in 2016, and is projected to reach at $3,272 million by 2023, growing at a CAGR of 10.59% from 2017 to 2023.
The GIS in telecom sector is implemented across small & medium enterprise and for effective management of telecom infrastructure, network installations, and business services. Telecom sector consists of wireless operators, satellite companies, cable companies, and internet service providers.
Software segment is expected to be the major revenue contributors to the global GIS in telecom sector market, due to increase in investment in GIS applications and rise in demand of spatial and geographical characteristics. Moreover, large enterprise segment has witnessed high adoption of GIS in the telecom sector across various regions, owing to the associated benefits of advanced business insights related to customer engagement and increase in investment in diversified projects such as universal mobile telecommunications system (UMTS) integration, and business expansion across rural areas.
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North America was the highest revenue contributor to the global GIS in telecom sector market in 2016, accounting for around 58.17% share, owing to surge in need for LTE infrastructure upgradations and rise in investment on R&D on very high bandwidth for the 5G technology. In addition, the market in the Asia-Pacific is projected to grow at the highest CAGR of 12.8% during the forecast period, due to increase in digitization, emergence of e-commerce, and increased government spending to develop smart cities. Furthermore, the rise in demand of connected & smart devices, and increase in ICT spending and demand for internet-based entertainment platform are fueling the growth of GIS in telecom sector in other emerging markets such as Latin America, and the Middle East & Africa.
The surge in ICT expenditure and increase in cloud adoption across the end users including small & medium enterprise and large enterprise are anticipated to augment the market penetration. The prominent markets, such as Asia-Pacific and Europe, with developed cloud infrastructure, high adoption of Internet of Things (IoT) technology, and surge in demand for network installation across rural areas are anticipated to fuel the GIS in telecom sector market growth in the near future.
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The report features a competitive scenario of the GIS in the telecom sector market and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are Bentley Systems Incorporated, Blue Marble Geographics, Cyient Ltd., ESRI (Environmental Systems Research Institute) Inc., Harris Corporation, Hexagon AB, Pitney Bowes Inc., RMSI Inc., Spatial Business Systems, Inc., and Trimble Inc. These players have adopted competitive strategies such as innovation, new product development, and market expansion to boost the growth of the GIS in telecom sector market.
KEY FINDINGS OF THE STUDY
- The cloud deployment segment accounted for the highest share of the global GIS in telecom sector market in 2016, growing at a CAGR of 11.6% from 2017 to 2023.
- The North America GIS in telecom sector market generated the highest revenue, accounting for $927 million in 2016.
- The large enterprise segment is expected to dominate the market, in terms of market share, during the forecast period.
- The U.S. was the market leader in 2016. In addition, China, Australia, India, and other emerging nations are projected to provide significant opportunities for the major players.
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SOURCE Allied Market Research
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