Major players in the geospatial solutions market are Trimble Inc. , Pitney Bowes Inc, Hexagon AB, Maxar Technologies, Harris Corporation, Apple Inc. , Amazon Web Services Inc. , IBM, Oracle Corporation, SAP, Microsoft Corporation, General Electric Company, TomTom International B.
New York, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Geospatial Solutions Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06368686/?utm_source=GNW
V., Alphabet (Google), Topcon Corporation, HERE Technologies, Baidu Inc., Telenav Inc, RMSI Pvt. Ltd, and Telnav Telecomunicações Navais.
The global geospatial solutions market is expected to grow from $378.45 billion in 2021 to $444.32 billion in 2022 at a compound annual growth rate (CAGR) of 17.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The geospatial solutions market is expected to grow to $797.35 billion in 2026 at a CAGR of 15.7%.
The geospatial solutions market consists of sales of geospatial solutions by entities (organizations, sole traders, and partnerships) that collect, store, manage, and organize data pertaining to geographic information such as zip codes, addresses, or latitude and longitude coordinates of a location.It uses data collected by satellites, digital and analog maps, and aerial and street imagery.
Geospatial technologies include geographic information systems (GIS), global positioning systems (GPS), imagery analysis, and remote sensing.
The main types of geospatial solutions are hardware, software, and services.The hardware geospatial solutions refer to the computer on which a Geographic Information System (GIS) operates.
Nowadays, GIS runs on a wide range of hardware types, from centralized computer servers to desktop computers used in standalone or networked configurations.The various technologies used are earth observation, scanning, and others.
The different applications include surveying and mapping, geovisualization, planning and analysis, land management, and others, which are used by several end users such as utilities, business, transportation, defense and intelligence, infrastructural development, and others.
North America was the largest region in the geospatial solutions market in 2021. The regions covered in the geospatial solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Growing research activities regarding space and earth and continuous investments in research activities are expected to propel the growth of the geospatial solutions market going forward.Governments all around the world are investing in geospatial technologies to improve national, regional, and global emergency response capabilities as well as to promote human health, security and well-being.
For instance, according to Geospatial World, an India-based organization, in September 2020, China established a geospatial knowledge and innovation center.It helps China to develop its own geospatial technology used in various industries such as military, urban development, and others.
Also, in 2020, China had around 40 successful orbital missions and has already launched 55 satellites.According to the government of the UK, in June 2020, the UK launched a geospatial strategy, which unlocks opportunities from location data.
The strategy helps the UK to develop the location data framework in concurrence with the UN’s Integrated Geospatial Information Framework (IGIF). Therefore, growing research activities regarding space and earth and constant investment in research activities are expected to propel the growth of the geospatial solutions market.
Technological advancements have emerged as a key trend gaining popularity in the geospatial solutions market.Major players operating in the geospatial solutions sector are focused on launching technologically advanced products and innovative services to stay ahead in the market and to gain market share.
For instance, in March 2022, ESRI, a US-based geographic information system company, developed new land cover maps based on geospatial solutions, demonstrating how Earth as a planet has transformed over the last five years. The maps were generated by combining AI (Artificial Intelligence) and ML (Machine Learning) through satellite data, consisting of 26 pictures of every point on the planet throughout the last five years.
In September 2021, Woolper, a US-based premier architecture, engineering, geospatial (AEG), and strategic consulting firm, acquired AAM for an undisclosed amount.With this merger, Woolpert gains offices across the South Pacific and the Middle East and is expected to almost double its presence in Africa.
AAM is an Australia-based geospatial services company, specializing in land surveying, aerial mapping, and the integration and implementation of geographic information systems (GIS).
The countries covered in the geospatial solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The geospatial solutions market research report is one of a series of new reports that provides geospatial solutions market statistics, including geospatial solutions industry global market size, regional shares, competitors with a geospatial solutions market share, detailed geospatial solutions market segments, market trends and opportunities, and any further data you may need to thrive in the geospatial solutions industry. This geospatial solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
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