The geospatial analytics market in Europe is evaluated to reach a CAGR of 12.09% in the reported period of 2020-2028. The increased significance of security and safety and the rising demand for implementing geospatial services to gather real time information are the key factors boosting the market growth in the region. The number of investments in geospatial analytics by major players in the market has increased considerably in the region. Most of the economy depends on geoinformation and geo technologies in the region.
The European market of geospatial analytics is segregated further into the regions of France, Belgium, UK, Italy, Poland, Germany, Russia, and the rest of Europe, including the Netherlands, Spain, and others. In countries like Russia, the market is growing steadily due to the development of the space industry. For example, Glavkosmos, the Russian launch service provider, is continuously collaborating and expanding in South East Asia and Africa. Further, Russia is increasing local capabilities to create awareness regarding asset management, which will improve the longevity and efficiency of public works in the country. In Belgium, the market is emerging due to construction activities. Poland’s budding drone industry is resulting in the growth of the market in the country. The Unmanned Autonomous Systems (UAS) is currently flourishing. Spain is investing heavily in space-related technologies. Geospatial analytics is used to obtain real-time location data. In addition, many retailers in these countries are employing new technologies like artificial intelligence (AI) and predictive analytics to improve business operations and the end results. Mergers and acquisitions are also taking place among the geospatial solution providers in the region, making the market more competitive.
Fugro N.V., Atkins Plc, Hexagon AB, General Electric Company, Trimble Inc., etc. are some of the renowned companies operating in the market.
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