Geospatial Market – Challenges, Key Vendors, Drivers and Trends by Forecast to 2

Posted by Kiran on November 13th, 2019

Geospatial Market Scenario:

The global spatial market could touch the valuation of USD 78 billion by 2022, concludes Market Research Future (MRFR) following analysis of the latest trends. It is estimated to attain a CAGR of 16.6% during the forecast period (2016-2022).

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Esteemed Companies:

Some the esteemed companies enlisted in the MRFR report are Hexagon AB (Sweden), Harris Corporation (U.S.), ESRI (U.S.), DigitalGlobe, Inc. (U.S.), MacDonald, Dettwiler & Associates, Ltd. (Canada), Fugro N.V. (Netherlands), General Electric Co. (U.S.), RMSI (India), Trimble Navigation LTD. (U.S.), Bentley Systems, Inc. (U.S.), to name a few.

Market Drivers and Top Challenges:

Rise in smart cities combined with soaring demand for innovative technologies in emerging nations could elevate the market position in the coming years. Market growth in the future will be in response to the rising use of GPS enabled smartphone devices. In addition, advancements in drone technology could give rise to a host of opportunities in the worldwide geospatial analytics market.

Market Segmentation:

Geospatial market has been segregated depending on the type, technology, and end-users.

The types of geospatial technology are surface analytics, network analytics, geo-visualization, and others. Surface analysis type could note substantial demand in the coming years, as it helps analyze surfaces’ properties including temperature, rainfall, and elevation. Network analysis, on the other hand, offers solutions to business issues like warehouse, manufacturing location, and transportation.

Technology-wise, the market is considered for remote sensing, global positioning system (GPS), Geographic Information System (GIS), and others.

Regional Insight:

The primary markets for geospatial are Europe, Asia Pacific, North America, and the Rest of the World (RoW).

The largest share of the worldwide market has been grabbed by Asia Pacific. The superlative market growth is the result of the rising adoption and use of geospatial analytics across different verticals in the region. Furthermore, smart city developments along with infrastructure has made a huge difference in the market dynamics in the region.

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Latest News:

August 2019

ManTech International Corporation has recently acquired H2M Group (H2M), a prominent intelligence analysis services and solutions provider to expand its geospatial as well as intelligence analysis capabilities. H2M provides a host of services that back the intelligence community (IC), such as geospatial analysis, full motion video analysis and imagery, cartography and GEOINT operations.