New York, United States , May 03, 2023 (GLOBE NEWSWIRE) -- The Global Geomatics Market Size is to grow from USD 7.35 Billion in 2022 to USD 21.83 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 11.5% during the forecast period.
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Geomatics is a multidisciplinary field that encompasses the acquisition, analysis, management, and visualization of geospatial data. It involves the use of advanced technologies such as remote sensing, Geographic Information Systems (GIS), Global Positioning System (GPS), and other spatial data processing tools. Geomatics is used in a wide range of applications including urban planning, environmental management, natural resource exploration, disaster management, transportation planning, agriculture, and more. Geomatics professionals collect and analyze data from various sources to create maps, models, and other visual representations of the Earth's surface and its features. Geomatics plays a crucial role in decision-making processes in various industries, enabling effective planning, monitoring, and management of resources and infrastructure in a spatial context.
“Companies Covered: Trimble Inc., Hexagon AB, Autodesk Inc., Bentley Systems, Inc., Leica Geosystems AG, Topcon Corporation, The Schneider Corporation, Fugro N.V., Harris Geospatial Inc., SuperMap Software Co., Ltd., TomTom NV, PASCO Corporation, DigitalGlobe Inc.·, Teledyne Technologies Inc and among others”.
Browse key industry insights spread across 210 pages with 100 market data tables and figures & charts from the report on "Global Geomatics Market Size, Share, and COVID-19 Impact Analysis, By Product (Hardware, Software, and Services), By End-User (Transport and Logistics, Agriculture, Construction, Mining and Geology, Oil and Gas, Aerospace and Defense, Government, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032". Get Detailed Report Description Here:
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The software segment is expected to grow at a higher CAGR of 13.4% over the forecast period
Based on product type, the software segment is expected to be the fastest-growing product type in the geomatics market. This is driven by several factors, including the increasing demand for sophisticated software solutions that can handle large geospatial datasets, the adoption of cloud-based geospatial solutions for scalability and flexibility, the rapid development of geospatial analytics and AI technologies, and the rising awareness and adoption of location-based services across industries. Geomatics software provides advanced functionalities, such as data processing, analysis, visualization, and interpretation, enabling users to extract valuable insights from geospatial data. Additionally, software solutions can be easily upgraded and customized, making them a preferred choice for various applications and industries, leading to the fastest growth in the Geomatics market.
The transport & logistics segment is expected to grow at a CAGR of 12.7% during the forecast period
Based on end-user, the transport & logistics segment is expected to be the fastest-growing end-use industry in the geomatics market due to several reasons. Firstly, geospatial technologies such as GPS, GIS, and remote sensing play a critical role in optimizing routes, managing fleets, and improving supply chain visibility, resulting in enhanced operational efficiency and cost savings. Secondly, the adoption of autonomous vehicles and drones in the transport & logistics industry is driving the demand for advanced geomatics solutions for navigation, tracking, and safety purposes. Lastly, the growing focus on sustainability and environmental regulations in the industry is driving the demand for geomatics solutions for environmental impact assessment and emissions monitoring. Overall, the transport & logistics segment is poised for rapid growth in the Geomatics market due to its increasing reliance on accurate geospatial data for various applications.
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Asia-Pacific is predicted to grow at a higher CAGR of around 13.5% over the forecast period.
Based on region, the Asia-Pacific segment is witnessing rapid growth in the Geomatics market due to multiple factors. These include the region's rapid urbanization, infrastructure development, and increasing demand for transportation, logistics, agriculture, construction, utilities, and government applications. Additionally, favorable government policies, investments in geospatial infrastructure, and the adoption of advanced technologies such as AI, IoT, and Big Data analytics are driving the growth of the Geomatics market in the Asia-Pacific region. The region's dynamic economic landscape, expanding markets, and growing awareness of geospatial solutions are contributing to its status as the fastest-growing segment in the Geomatics market, presenting significant opportunities for market players.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global geomatics market include Esri, Trimble Inc., Hexagon AB, Autodesk Inc., Bentley Systems, Inc., Leica Geosystems AG, Topcon Corporation, The Schneider Corporation, Fugro N.V., Harris Geospatial Inc., SuperMap Software Co., Ltd., TomTom NV, PASCO Corporation, DigitalGlobe Inc., and Teledyne Technologies Inc.
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