Geographic Information System (GIS) Market Analysis

Geographic Information System Market Analysis

The mobile GIS software market is expected to register a CAGR of over 18% during the forecast timeline as it offers the users an easy way of acquiring and uploading GIS data to the online visualization tools such as Google Earth. The mobile GIS technology provides a cost-effective way of collecting geospatial data and helps to improve the quality and speed of data collection while reducing errors. The increasing demand for mobility solutions that offer GIS users a much simpler experience with the creation of apps to collect and explore the data is projected to drive the GIS market growth.
 

The telematics and navigation applications are expected to exhibit a growth rate of over 17% during the forecast timeline. With the growing number of connected cars, the vehicle-generated information such as the data related to braking systems and vehicle diagnostics plays an important role in delivering modern telematics and navigation solutions. As the navigational and telematics systems use data related to geoinformatics for tasks such positioning and vehicle & traffic management, the need for GIS software for assisting connected cars and autonomous vehicles is likely to increase significantly from 2018 to 2024.
 

The government agencies are expected to show the greater adoption of the GIS software implementation. Increasing government investments across military and aerospace sector is driving the demand for advanced location-based technologies resulting in increased demand for GIS solutions. Government authorities are rapidly deploying GIS technology for spatial analysis to make better data-driven decisions regarding the welfare of the state and nation as a whole. The defense agencies utilize the geospatial information to carry out their crucial surveillance and reconnaissance operations, including battle field management, terrain analysis, and monitoring of possible terrorist activities. As the spatial data is of crucial importance to military operations, the demand for GIS technology in the government sector will increase swiftly during the forecast period.
 

The North America GIS market held a major share of over 40% in 2017 and is projected to hold a significant market share by 2024 due to the increasing government-led initiatives contributing towards the growth and development of the region’s geospatial industry. For instance, in June 2018, the U.S. Air Force awarded a contract of USD 130 million to SpaceX for the launch of Air Force Space Command Satellite (AFSPC)-52 satellites in the late FY2020. Another factor accelerating the market growth is the higher concentration of the GIS solution providers in the region. These players are offering the most powerful mapping and spatial data analytics technology and are dedicated to provides GIS professionals and surveyors with necessary tools and modern software to assist them in conducting surveys.