Dallas, Texas, Oct. 10, 2022 (GLOBE NEWSWIRE) -- Owing to the growing use of geographic information systems (GIS) across numerous industries, the global geographic information system market is anticipated to increase significantly throughout the projected period. Due to its integration with geospatial data and business technology, this industry offers several lucrative opportunities for the industry players. Thus, geospatial obstacles to data collection and the expensive installation costs for this technology limit the market's expansion. In addition, the global geographic information system market expansion is being constrained by a lack of knowledge and experience with geographic information systems. Free online access to geographic information is a significant impediment to the expansion of the global geographic information systems market.
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Over the course of the forecast period, it is anticipated that businesses will increasingly demand location-based analytics to boost operational effectiveness and enhance decision-making, which will have a favorable impact on the global geographic information system (GIS) market. The geographic information system market is also being driven by organizations' growing desire for location-based analytics to boost decision-making and operational efficiency. Additionally, the growing requirement to combine spatial data with traditional data in order to extract useful insights from location-based data may open up new potential opportunities for the geographic information system market over the projection period.
Prominent Geographic Information System Market Players consisting of:
- Autodesk Inc.
- AutoNavi Software Co., Ltd.
- Bentley Systems, Inc.
- CARTO
- Environmental Systems Research Institute, Inc.
- Hexagon AB
- Pitney Bowes Inc.
- SuperMap Software Co., Ltd.
- Topcon Positioning Systems
- Trimble, Inc
Several forms of data can be analyzed, generated, maintained, as well as mapped using a software program called geographic information. It also links to the map by combining geographic information with various descriptive data types, such as demographic information. With the use of this technology, it is now able to analyze, understand, and visualize geographic data in order to identify trends, patterns, and relevant investment opportunities. Users that utilize GIS can better understand linkages, trends, and spatial context. By 2030, the value of the global geographic information system market was $8.1 billion in 2020 and will rise to $24.7 billion in 2030 with a CAGR of 11.79%.
According to estimates, the GIS Software segment will dominate the GIS market, driving up the use of GIS for innovative city development, transportation management, and disaster management. The use of GIS in business intelligence and marketing has expanded as a result of its integration with ERP and CRM systems.
Geographic Information System Market by Usage:
- surveying
- mapping
- navigation
Geographic Information System Market by component:
- Hardware
- Software
- Services
Geographic Information System Market Applications consisting of:
- Transport
- Agriculture
- Construction
- Mining
- Aerospace
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A growing number of countries' infrastructure in the Asia Pacific is likely to lead to the region's fastest growth during the anticipated period. Programs for smart cities and urban development can be planned using GIS. China is investing a huge amount of funds in preparing for cities and building its infrastructure. The Asia Pacific region is experiencing expansion in this market as a result of the rising building in Japan.
For instance, Esri Inc. unveiled ArcGIS GeoBIM in October 2021, a solution that increases the capacity for GIS to be useful to BIM project teams. Acoustic echo cancellation teams can explore and work together using data from many systems in a geographic context with the help of the company's simple-to-use web-based experience. The business links up with Autodesk BIM Collaborate Pro, a cloud-based tool for model co-authoring, coordination, and design collaboration.
Geographic Information System Market 2022-2029 Regional Overview:
| Regions | Sub-Regions |
| North America | U.S, Canada |
| Europe | Germany, France, UK, Rest of Europe |
| Asia Pacific | China, India, Japan, Rest of Asia Pacific |
| South America | Mexico, Brazil, Rest of South America |
| Middle East and South Africa |
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