Introduction of sophisticated tools such as 3D tools, HD imagery, artificial intelligence and big data, generating an annual growth of 16.45%

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Dublin, Aug. 23, 2022 (GLOBE NEWSWIRE) — The report “Geospatial Analytics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” has been added to from ResearchAndMarkets.com offer.

The Geospatial Analytics for Surveying Market reached US$59,986.7 million in 2021 and is projected to reach US$23,9756.2 million by 2030, growing at a CAGR of 16.46% during the forecast period 2022 to 2030. Introduction of sophisticated tools such as 3D tools, HD imagery, earth scanning, artificial intelligence, Internet of Things (IOT), Big Data have all boosted geospatial analysis market application and have improved the accuracy and analytical data required for surveying purposes.

Agriculture and natural resources remain a key application area

The growth is mostly attributed to its wide adoption in agriculture and natural resource tracking. Geospatial analysis solutions are primarily used for surveying purposes in the agricultural industry to understand topsoil erosion. Nonetheless, military intelligence application is expected to rise as the highest growing segment over the estimate period. The growth of this segment is mainly due to the increasing number of remote sensing satellites in the world for border surveillance, which requires the use of geospatial analysis.

Network and location analysis adopted in all applications

In 2021, the largest segment by type in the geospatial analytics market by type was network and location analytics, which accounted for approximately 40% of total revenue in the same year. This segment remained high due to its application in utility networks, transportation networks, and social connection-based networks. The network and location analysis segment remains the highest due to a wide range of applications in planning operations and social network data analysis. The increased application of GPS technologies, social media, etc., has increased the recent traction of the market. Network and location analysis establishes trends between complex relationships between multi-parameter data points. This adds significant value by providing visual models and images that enable an improved decision-making process.

Software – The Brain of Geospatial Analysis

The software remains the key component of the geospatial analysis segment which provides basic functions such as data capture to sophisticated functions such as trendline derivation and forecasting, pattern recognition, and also provides response management. Geospatial analysis software allows data to be visualized through maps and networks. It also offers better forecasting by providing real-time data that takes into account various changes and allows the user to decide the future course of action and response to potential changes. It helps in deriving a targeted solution based on various geographic data inputs that helps in building a successful plan or business.

High cost of services limiting its application

Although geospatial analysis services are essential to effectively benefit from the technology, its level of acceptance is limited due to the high cost of consultation and integration. To achieve a high level of efficiency, a complete integration of the company is necessary; however, this level of integration comes at a significant cost. Similarly, small and medium-sized geospatial analysis companies have limited operations and therefore do not see the role of service providers as very crucial. However, the increasing application of geospatial analytics to process large-scale data across many industries is enabling the adoption of geospatial analytics services to increase revenue and business opportunities.

Access to technology generates revenue in North America

North America Geospatial Analytics Market Achieved Highest Revenue Share in 2021. Access to Improved Technology, Rising R&D Investments, Focus on Innovation by Domestic Firms , improved infrastructure in satellite mapping and data infrastructure, and availability of structured data are major reason for increasing market revenue in USH

Main topics covered:

1. Preface

2. Executive Summary

3. Geospatial Analytics Market: Business Outlook and Market Dynamics

4. Geospatial Analytics Market: By Component, 2020-2030, USD (Million)

5. Geospatial Analytics Market: By Type, 2020-2030, USD (Million)

6. Geospatial Analytics Market: By Application, 2020-2030, USD (Million)

7. North America Geospatial Analytics Market, 2020-2030, USD (Million)

8. UK & EU Geospatial Analytics Market, 2020-2030, USD (Million)

9. Asia-Pacific Geospatial Analytics Market, 2020-2030, USD (Million)

10. Latin America Geospatial Analytics Market, 2020-2030, USD (Million)

11. Middle East & Africa Geospatial Analytics Market, 2020-2030, USD (Million)

12. Company Profile

Companies cited

For more information about this report visit https://www.researchandmarkets.com/r/ev4n1n

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