The geospatial analytics market size is projected to grow from USD 59.5 billion in 2021 to USD 107.8 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 12.6%

during the forecast period. The major factors driving the growth of the geospatial analytics market include the increasing number of AI and ML based GIS solutions, development of smart cities and urbanization, advancement in big data analytics, and increased deployment of IoT sensors across locations.

New York, July 07, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Geospatial Analytics Market by Component, Solution, Service, Type, Technology, Deployment Mode, Organization Size, Application, Vertical And Region - Global Forecast to 2026" -

Based on type, network and location analytics segment is estimated to grow at the highest CAGR during the forecast period
Based on type, network and location analytics is estimated to grow with the highest CAGR during the forecast period.Network and location analytics is primarily used to solve complex routing problems by businesses in the transportation and logistics vertical.

Most of the verticals are expected to adopt network and location analytics solutions in the coming years to reduce additional time and costs incurred due to less efficient networks.

On-premises deployment mode to lead the market during the forecast period
The on-premises segment is estimated to lead the geospatial analytics market due to security and data privacy concerns. Organizations are making the use of geospatial analytics solutions and services for increasing business agility and productivity by gaining valuable insights on various regions and changing business trends around the world.

North America to lead the market share and Asia Pacific to grow at the highest CAGR during the forecast period
North America is one of the most prominent regions in the geospatial analytics market.In North America, geospatial analytics technologies are extensively used in applications such as construction, agriculture, transportation, and utilities.

Asia Pacific is expected to grow at the highest CAGR during the forecast period. Due to the growing demand for niche technologies, such as AI, Internet of Things (IoT), big data, and ML the adoption of geospatial analytics is a must for developed and developing countries.
• By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
• By Designation: C-level – 38%, Directors – 30%, and Others – 32%
• By Region: North America – 40%, Europe – 15%, APAC – 35%, MEA – 5%, Latin America– 5%.
Some prominent players profiled in the study include Alteryx (US), Bentley Systems (US), CARTO (US), Descartes Labs (US), ESRI (US), Fugro (Netherlands), General Electric (US), Geospin (Germany), Google (US), Hexagon AB (Sweden), Mapidea (Portugal), MapLarge (US), Maxar Technologies (US), Oracle (US), Orbica (New Zealand), Orbital Insight (US), Precisely (US), RemOT Technologies (Spain), RMSI (India), SAP (Germany), Skymap Global (Singapore), Sparkgeo (Canada), TomTom (Netherlands), Trimble (US), Ubimo (US).

Research coverage
The market study covers geospatial analytics market across different segments.It aims at estimating the market size and the growth potential of this market across different segments, such as components, solution, service, type, technology, deployment mode, organization size, application, vertical, and region.

The solution segment is further segmented into geocoding and reverse geocoding, data integration and ETL, reporting and visualization, thematic mapping and spatial analysis, and other solutions ((DBMS) and data storage software).The service segment is further classified into consulting, integration and deployment, and support and maintenance.

The type segment is further segmented into surface and field analytics, network and location analytics, geovisualization, and other types (geocomputational methods, including agent-based modeling, artificial neural networks and evolutionary computing, map generalization, map abstraction, and digital terrain analysis).The technology is further categorized into remote sensing, GIS, GPS, and other technologies (Internet mapping technologies).

The deployment mode segment is bifurcated into cloud and on-premises. The organization size segment is segmented into SMEs and large enterprises. Application areas include surveying, medicine and public safety, disaster risk reduction and management, and climate change adaptation, and other applications (supply chain planning and optimization, sales and marketing optimization, predictive asset management, inventory management). Verticals of geospatial analytics are segmented into utility, government, defense and intelligence, BFSI, real estate and construction, healthcare, mining and natural resources, security, logistics and supply chain, automotive, agriculture, and other verticals (sports, education, and tourism, media and entertainment, and agriculture). The regional analysis of the geospatial analytics market covers North America, Europe, APAC, MEA, and Latin America. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall geospatial analytics market and its segments.This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.

The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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