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The global market of geographical information system (GIS) is anticipated to exhibit growth and register a CAGR of 8.94% over the projected period of 2020-2028. The major factors fueling the global market growth are increasing adoption of GIS for facilities management, growing demand of GIS software for development of smart cities, urban planning, and merging GIS with mainstream technologies for business intelligence. Further, the global market is thriving due to increasing investments by the enterprises on GIS solutions in the transportation sector, adopting cloud-based GIS, and rising applications of AR and VR technologies in GIS.
The global GIS market is researched by considering geospatial analytics as the parent market. The main factor steering the global geospatial analytics market is the commercialization and commoditization of geospatial data and information, which makes it publicly available. Technological innovations and geospatial technology aid in effective crop yield estimates, and thus have great demands in the agriculture sector. There is an increasing need for process efficiency, and many companies have started adopting GIS in their business modes, for the same. Such factors propel its demands across the world, thereby resulting in increased growth opportunities for the market. The market challenges like high costs associated with GIS, stringent rules, and regulations regarding the implementation of GIS technology, easy availability of the GIS technology, restrict the market growth.
The global GIS market is analyzed by taking into consideration the regions of North America, Europe, Asia Pacific, and the Rest of the World.The region of North America is dominating the market in the adoption of GIS technology and is set to account for the largest market share during the forecast period. Transportation, logistics, defense, utilities, industries are controlling the market. Compared to the North American market, the European market is slow but growing steadily, and is expected to demonstrate fast growth in the coming years. The adoption of geospatial analytics in the Asia Pacific region is gaining momentum due to the development of smart cities. It is set to record the highest CAGR among other regions, during the projected period. The major companies in the GIS software market are focusing on the Asia Pacific region to increase its market share.
Environmental Systems Research Institute, Inc. (ESRI) , SuperMap Software Co., Ltd , Atkins Plc Bentley Systems Inc , Hexagon AB (Hexagon), etc. are some of the renowned companies in the market offering GIS software solutions.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments