Worldwide Geographic Information System Industry to 2030 – Featuring Hexagon, Autodesk and Maxar Technologies Among Others – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Geographic Information System (GIS) Market Research Report: By Component, Function, Data Type, Project Size, and Industry – Global Industry Analysis and Growth Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

The global GIS market value will increase to $24,607.7 million by 2030 from $8,185.9 million in 2020, at an 11.6% CAGR between 2020 and 2030.

As this technology makes it possible to visualize, analyze, and interpret geographical information to ascertain trends, patterns, and relationships, investments in it are increasing. For instance, the United Nations (UN) plans to use geographic information system (GIS) to offer location information to various industries.

Moreover, the COVID-19 pandemic has been characterized by the wide usage of this technology to map the infection spread by tracking the travel history of infected people and pinpointing those who have had any contact with them. GIS was further leveraged to create time-enabled maps, to track the spread of the virus over a period and come up with action plans.

The most-significant function of the technology in recent years has been mapping. Due to the rapid urbanization and population growth, GIS is being used to create maps and enable effective urban planning.

The fastest growth in the GIS market based on offering is predicted in software. This is because advanced GIS software supports the mapping of field operations, integration of analytical tools, and management and display of geographic information through dashboards and reports.

With time, the usage of this technology for disaster management in developing and developed countries is rising. It is being used to track the path and assess the impact of hurricanes, tornadoes, wildfires, tsunamis, earthquakes, oil spills, and epidemics.

As a result, the government sector is the largest user of geographic information systems. Much of the disaster management and relief work is carried out by governments, which have, additionally, been at the forefront of COVID-19 pandemic control.

GIS is majorly used in medium-sized projects, which abound in the healthcare and defense sectors. Hence, with the rising healthcare and defense spending around the world, the usage of this technology is increasing.

Asia-Pacific (APAC) is expected to be the fastest-growing GIS market in the coming years on account of the rapid urbanization and government spending on infrastructure development.

Currently, North America makes the most use of geographic information systems because of the advanced IT infrastructure and high technical awareness here. The U.S., which is the largest defense spender in the world, uses it to manage battlefield operations, gather intelligence, monitor possible terror activities, and analyze terrain.

Market Dynamics

Trends

• Usage of 3D GIS in urban infrastructure development
• Usage of GIS in disaster management
• Miniaturization of systems

Drivers

• Rising investments in GIS solutions
• Growing demand for enterprise GIS solutions
• Increasing availability of spatial data and cloud technology
• Surging demand for GIS in location as a service (LaaS)
• Rising demand for GIS solutions in transportation sector
• Impact analysis of drivers on market forecast

Restraints

• High initial setup cost of GIS
• Lack of data
• Impact analysis of restraints on market forecast

Opportunities

• Rising focus on AI-based geospatial solutions

Companies Mentioned

• Environmental Systems Research Institute (Esri) Inc.
• Hexagon AB
• Autodesk Inc.
• Schneider Electric SE
• General Electric Company
• Precisely Incorporated
• Maxar Technologies Inc.
• Bentley Systems Incorporated
• SuperMap Software Co. Ltd.
• PASCO CORPORATION
• IQGeo Group plc
• Trimble Inc.

For more information about this report visit https://www.researchandmarkets.com/r/vsx7wb.

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