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Adoption of Geographic Information System technology by various governments worldwide will drive the Geographic Information System Market.
HYDERABAD, TELANGANA, INDIA, September 2, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that the Geographic Information System Market is estimated to surpass $10.21 billion marks by 2026 growing at an estimated CAGR of more than 16.5% during the forecast period 2021 to 2026. The global Geographic Information System Market is growing steadily driven by increasing demand from the location-based services market Since the U.S region is making huge investments in the use of GIS technology in various industries such as natural resources, utilities & other sectors, North America is dominating the market & holds the largest market share followed by Europe and APAC. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key Takeaways:
1. Rise in adoption of Geographic Information System tools owing to their wide range of applications like monitoring of real-time geographical data, traffic congestions, spatial analytics and others are driving the growth of the market.
2. The cloud deployment is dominating the market as the data integration can be done efficiently in the cloud with less complexity along with upsurge in use of cloud networks globally.
3. The real-time geographical data used by devices for instance smartphones, vehicle sensors, imaging sensors on drones are majorly extracted from the Geographic Information System solutions.
4. Ridesharing and delivery companies have increasingly utilized Geographic Information System solutions for GPS tracking and asset management applications thus driving market growth.
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Segmental Analysis:
1. By Deployment Geospatial Information System Market is segmented as Cloud and On-Premises. The Cloud-based deployment is witnessing significant growth in the market. The real-time geographical data used by devices for instance smartphones, vehicle sensors, imaging sensors on drones are majorly extracted from the cloud. These factors are fueling the growth of the market.
2. Geographic Information System offers the following positive business outcomes such as customer analytics and loyalty marketing, capacity and pricing optimization and predictive maintenance analytics in the transportation sector. Travel and transportation organizations face capacity restraints thus a sharp focus on pricing and ability optimization is crucial.
3. The Global Geographic Information System Market is dominated by APAC with a market share of over 35% in 2020. The growth in use of geospatial analytics, growth in internet penetration, rise in the developing industrial sectors and growth in infrastructural developments are boosting the growth of the market.
Competitive Landscape:
The top 5 players in the Geographic Information System industry are –
1. Environmental Systems Research Institute (ESRI)
2. Google
3. Microsoft
4. Super map Software Co. Ltd
5. Hexagon
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