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Geospatial Analytics Market Size Comprehensive Analysis, Growth Forecast from 2022 to 2031

Kenneth Research, in its repository of market research reports, has recently added a report on Geospatial Analytics Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Geospatial Analytics Marketis anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

The U.S. Market recovers fast; In a release on May 4th, 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Geospatial Analytics Market products.

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The Global Geospatial Analytics Market was valued at USD 30.68 billion in 2016 and is projected to reach USD 150.75 billion by 2025, growing at a CAGR of 19.35% from 2017 to 2025.

Geospatial analytics is the analytic solution providing insightful information on satellite images and data captured from various geospatial technologies including remote sensing, geographic information systems, and global positioning system. The solution helps users with advanced mapping, modeling, and statistical derivations from data gathered through geospatial interface and satellite bound outputs. Benefits of geospatial analytics include – makes analytics insights more engaging, move from hindsight to foresight, and develop targeted solutions.

Market Dynamics:
1. Market Drivers
1.1 Emergence of big data in geospatial analytics
1.2 Adoption of cloud computing in geospatial analytics
1.3 Better and less expensive geospatial content available
1.4 Rising need of security and safety
1.5 Commoditization of geospatial information
1.6 Integration of geospatial analytics with AI
2. Market Restraints
2.1 Issues with integration of geospatial data with enterprise solutions
2.2 Complex regulations and policies
2.3 Costly solutions

Market Segmentation:
The Global Geospatial Analytics Market is segmented on the application, type, technology, vertical, and region.

1. Application:
1.1 Disaster Risk Reduction & Management
1.2 Surveying
1.3 Climate Change Adaptation
1.4 Medicine & Public Safety
1.5 Others

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2. By Type:
2.1 Geovisualization
2.2 Surface Analytics
2.3 Network Analytics

3. By Technology:
3.1 GIS
3.2 Remote Sensing
3.3 GPS

4. By Vertical:
4.1 Defense and Intelligence
4.2 Government
4.3 Automotive
4.4 Natural Resources
4.5 Utility and Communication
4.6 Others

5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Bentley Systems, Inc.
2. Harris Corporation
3. Trimble Navigation Ltd.
4. Fugro N.V.
5. Hexagon AB
6. General Electric
7. Macdonald, Dettwiler & Associates, Ltd.
8. Digitalglobe Inc.
9. RMSI
10. ESRI

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Geospatial Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

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