Jersey City, New Jersey, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The Global Geographic Information System (GIS) Market is projected to grow at a CAGR of 13.07 % from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 14.5 Billion in 2023 and is expected to reach USD 26.15 Billion by the end of the forecast period.
The Geographic Information System (GIS) Market is expanding as a result of increased demand for sophisticated tools for analyzing spatial data. Industries seek to GIS solutions to extract insights that can be put into practice, from urban planning to catastrophe management.
GIS's capabilities are greatly increased by integrating it with cutting-edge technologies like cloud computing, AI, and the Internet of Things. This allows for real-time data processing and analysis. In addition to increasing productivity, this connection creates opportunities for creative cross-sector applications.
Globally, governments are promoting the use of GIS through programs centered on the creation of smart cities and environmental monitoring. As GIS becomes a crucial component of contemporary urban planning and sustainable resource management, these activities drive the Geographic Information System (GIS) Market ahead. With more and more businesses realizing the benefits of location-based intelligence, the GIS industry is expected to rise steadily, providing
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Browse in-depth TOC on “Geographic Information System (GIS) Market”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Geographic Information System (GIS) Market Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2020-2031 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Hexagon, Pitney Bowes, Trimble, Autodesk, ESRI, Topcon, Maxer Technologies, Bentley Systems, Caliper Corporation, etc. |
| SEGMENTS COVERED | By Component, By Deployment Mode, By Data, By Function, By End User, And By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope. |
Key Geographic Information System (GIS) Market Drivers
- Rise in Incidences of Natural Disasters and Other Environmental Concerns: The demand for geographic information systems is expected to rise across a variety of industries due to growing requirements for resource management, environmental monitoring, disaster planning, and transportation.
- Growing Awareness Regarding Smart Electronics and Smart Software: The amalgamation of artificial intelligence, cloud computing, and GIS-functionalized applications in intelligent devices like smartphones facilitates sophisticated data analysis, identification of patterns, and forecasting. Beyond this, new consumers are being drawn to geospatial technology and its democratization is being facilitated by its affordability, scalability, and accessibility.
- Focus on Data-Driven Insights: Growing volume and variety of satellite-to-sensor location-based data may foster creative GIS applications. Manufacturers employ location intelligence for market analysis, consumer targeting, and operations optimisation, fueling GIS demand.
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Global Geographic Information System (GIS) Market Regional Analysis
Here is a more detailed regional analysis of the global Geographic Information System (GIS) Market:
- Asia Pacific:
- According to Verified Market Research, Asia Pacific is estimated to grow at a faster rate over the forecast period. Rapid urbanization along with the initiation of Smart City programs in the developing economies such as India, China, and Japan are projected to bolster the demand for geographic information system (GIS).
- North America:
- According to the S. Customs and Border Protection Agency (CBP), the use of drones equipped with GIS technology is crucial for monitoring and security of the borders of the United States. The drones can cover vast areas and provide real-time video and thermal imagery to detect and track illegal activity. The drones also enable the CBP to quickly respond to breaches of security. Thus, wide range application of GIS solutions in the military and defense is paving way for growth of the Geographic Information System (GIS) Market.
- Europe:
- Following Asia Pacific, Europe is estimated to exhibit strong growth potential over the forecast period. A call for urban planning, environmental monitoring, and resource management is projected to enable market attain maturity across Western and Eastern Europe.
Geographic Information System (GIS) Market Key Players Shaping the Future
Major players, including ESRI, Hexagon Geospatial, Orbital Insight, Genesys International, Trimble Geospatial, Bentley Systems, Autodesk Inc., Maxar Technologies Inc., Caliper Corporation, Geosoft Inc., Blue Marble Geographics, General Electric Co., Pitney Bowes Inc., ABACO Group, L3Harrris Technologies, Hi-Target, Topcon Positioning Systems, SuperMap Software Co. Ltd., Bently Systems, Cadcorp, and among others., and more, play a pivotal role in shaping the future of the Geographic Information System (GIS) Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Key Developments:
- June 2022 – Hexagon, a manufacturing giant and a multi-billion dollar pioneer in combining sensor, software, and digital reality solutions, is backing up start-ups to increase efficiency and ESG. SmartParts and RIIICO were recognized by Hexagon Manufacturing Intelligence Division. This open innovation platform will help scale start-ups and increase connectivity with world-class companies to increase efficiency and sustainability for the manufacturing industry.
- June 2022 – Bentley Acceleration Initiatives, the internal incubator of strategic investment of Bentley Systems, the infrastructure engineering software company, introduced Construct Helix. It is specially designed to digitalize construction project flows by providing SaaS solutions that will allow a connected data environment.
- October 2021, The Geographic Information System (GIS) Energy Map of India is released by NITI Aayog.
To get market data, market insights, and a comprehensive analysis of the Global Geographic Information System (GIS) Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Geographic Information System (GIS) Market into Component, Deployment Mode, Data, Function, End User, And Geography.
- Geographic Information System (GIS) Market, by Component
- Hardware
- Software
- Service
- Geographic Information System (GIS) Market, by Deployment Mode
- On-Premise
- Cloud-Based
- Hybrid Model
- Geographic Information System (GIS) Market, by Data
- Spatial Data
- Attribute Data
- Geographic Information System (GIS) Market, by Function
- Mapping and Surveying
- Location-Based Service (LBS)
- Telematics and Navigation
- Other
- Geographic Information System (GIS) Market, by End User
- Government
- Utilities
- Construction
- Telecommunications
- Agriculture
- Mining
- Aerospace
- Military and Defense
- Geographic Information System (GIS) Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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