The geospatial analytics ai global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Geospatial Analytics AI Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The geospatial analytics AI market size has grown exponentially in recent years. It will grow from $0.08 billion in 2023 to $0.11 billion in 2024 at a compound annual growth rate (CAGR) of 31.4%. The growth in the historic period can be attributed to growth of AI in various industries, increased necessity for surveillance and monitoring, rapid implementation of AI solutions, advancements in machine learning, growing demand for efficient operations.
The geospatial analytics AI market size is expected to see exponential growth in the next few years. It will grow to $0.32 billion in 2028 at a compound annual growth rate (CAGR) of 30.9%. The growth in the forecast period can be attributed to predictions about changes in land use, urban expansion, rise in private agricultural practices, AI’s transformative usage, advancements in remote sensing. Major trends in the forecast period include increased use of ai and ml, rise of cloud-based platforms, expansion of applications, enhanced decision making, improved disaster preparedness and response.
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Scope Of Geospatial Analytics AI Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Geospatial Analytics AI Market Overview
Market Drivers –
The growth in internet penetration is expected to propel the growth of the geospatial analytics AI market going forward. Internet penetration refers to the percentage of a population or a specific demographic group that has access to the internet. Internet penetration occurs when a certain percentage of the population or a specific demographic group gains access to the internet, facilitating widespread connectivity, information access, communication, and economic opportunities. Internet penetration uses geospatial analytics AI to analyze and understand spatial patterns of internet usage, enabling targeted interventions and infrastructure development to increase connectivity in underserved areas and optimize resource allocation for enhanced digital inclusion. For instance, in November 2022, according to a publication by the International Telecommunication Union (ITU), a Switzerland-based United Nations agency, global Internet penetration reached an estimated 5.3 billion people, representing 66% of the world’s population in 2022, with a growth of 6.1% over 2021. Therefore, growth in internet penetration is expected to propel the growth of the geospatial analytics AI market.
Market Trends –
Major companies operating in the geospatial analytics AI market are developing advanced technologies, such as geospatial and AI platforms, for scenario planning and monitoring and to gain a competitive edge in the market. The geospatial and AI platforms for scenario planning and monitoring are defined by the combination of geospatial technology and artificial intelligence (AI) to analyze and interpret data related to geographic locations. AI adds computational power and predictive abilities to this framework, enabling the extraction of valuable insights from vast amounts of geospatial data. For instance, in January 2024, Deloitte Touche Tohmatsu Limited, a UK-based professional services company, launched a geospatial and AI platform, powered by Google Cloud, that utilizes generative AI technology from Vertex AI. This platform helps clients improve their planning processes for disaster response, infrastructure development, and urban planning by providing insights on land use, which ultimately leads to more sustainable decision-making.
The geospatial analytics AI market covered in this report is segmented –
1) By Data Source: Navigation Satellite System (GNSS), Remote Sensing, Geo Tagging, Other Data Sources
2) By Solution: Hardware, Software, Services
3) By Deployment: Cloud, On-Premises
4) By Application: Real Estate, Sales And Marketing, Coastal Application, Agriculture, Fraud Detection, Surveying, Hazard Assessment, Natural Resource Management, Transportation And Logistics, National Labs, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the geospatial analytics AI market in 2023. The regions covered in the geospatial analytics ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the geospatial analytics AI market are Alphabet Inc., Microsoft Corporation, Amazon.com Inc., Intel Corporation, IBM Corporation, Oracle Corporation, SAP SE, Presto Automation Inc., NVIDIA Corporation, Baidu Inc., Hexagon AB, Trimble Inc., DigitalGlobe Inc., Environmental Systems Research Institute Inc., Bentley Systems Inc., Databricks Inc., CE Info Systems Ltd., Dataiku Inc., Climate X, Genesys International Corporation Ltd., Geoblink SL, L3Harris Geospatial Solutions Inc., Climate X Ltd., Chloris Geospatial Inc., Skydweller Aero Inc.
Table of Contents
1. Executive Summary
2. Geospatial Analytics AI Market Report Structure
3. Geospatial Analytics AI Market Trends And Strategies
4. Geospatial Analytics AI Market – Macro Economic Scenario
5. Geospatial Analytics AI Market Size And Growth
…..
27. Geospatial Analytics AI Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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