Categories: Aerospace & Defence

Geospatial Analytics Market Research by Prophecy

The Geospatial Solutions Global Market Report 2023 by The Business Research Company, provides geospatial solutions market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/geospatial-solutions-global-market-report

According to The Business Research Company’s Geospatial Solutions Global Market Report 2023, the global geospatial solutions market size will grow from $440.6 billion in 2022 to $510.84 billion in 2023 at a compound annual growth rate (CAGR) of 15.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the geospatial solutions is expected to grow to $895.88 billion in 2027 at a CAGR of 15.1%.

Growing research activities regarding space and earth and continuous investments in research activities are expected to propel the growth of the geospatial solutions market going forward. Governments all around the world are investing in geospatial technologies to improve national, regional, and global emergency response capabilities as well as to promote human health, security, and well-being.

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The geospatial solutions market is segmented:

1) By Solution Type: Hardware, Software, Service

2) By Technology: Earth Observation, Scanning, Other Technologies

3) By Application: Surveying and Mapping, Geovisualization, Planning and Analysis, Land Management, Other Applications

4) By End-User: Utility, Business, Transportation, Defense and Intelligence, Infrastructural Development, Other End-Users

Technological advancements have emerged as a key trend gaining popularity in the geospatial solutions market. Major players operating in the geospatial solutions sector are focused on launching technologically advanced products and innovative services to stay ahead in the market and to gain market share. For instance, in March 2022, ESRI, a US-based geographic information system company, developed new land cover maps based on geospatial solutions, demonstrating how Earth as a planet has transformed over the last five years. The maps were generated by combining AI (Artificial Intelligence) and ML (Machine Learning) through satellite data, consisting of 26 pictures of every point on the planet throughout the last five years.

The geospatial solutions market report table of contents includes: