A new market research study, titled “Geospatial Analytics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023,” by Transparency Market Research provides a detailed analysis of the market. The research study offers a clear understanding of geospatial analytics, focusing on its product segmentation, geographical segmentation, and vendor analysis. In addition, the report covers the key growth factors, barriers, and potential opportunities that are available for players operating in the global market.
The research report further presents the past performance and future projections of the global market for geospatial analytics with the help of infographics, charts, tables, and graphs. The research study takes help of several analytical tools to determine the growth prospects of the global market for geospatial analytics.
Geospatial analytics is widely used to analyze market segmentations in terms of lifestyle, demography, and behavior. This analysis helps several organizations in designing their promotional activities and further assists in targeting new consumers. The increasing adoption of geospatial analytics in diverse industries is one of the major factors projected to fuel the growth of the market throughout the forecast period. In addition, the geospatial analytics can be used by governments to issue alerts during natural calamities, mapping of crime locations, and designing disaster recovery mechanisms, which can further augment the growth of the market.
Furthermore, the concept of smart cities and the growing demand for innovative technologies in emerging countries are projected to drive the global market for geospatial analytics. However, the concerns related to the privacy of data stored in geospatial analytics is the major factor anticipated to curb the growth of the overall market in the next few years.
By geography, the global market for geospatial analytics has been classified into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. In the last few years, Europe has been in the leading position in the global market, thanks to substantial contribution from Finland and Sweden. On the other hand, the growing adoption of geospatial analytics in the oil and gas industry is projected to propel the Asia Pacific and North America markets in the next few years.
In the last section, the research study provides a vendor analysis of the global market for geospatial analytics and sheds light on the competitive scenario of the market. Some of the leading players operating in the global market for geospatial analytics are Hexagon AB, IBM Corporation, MacDonald, Topcon Corporation, Garmin Limited, Environmental Systems Research Institute Inc., Dettwiler and Associates Ltd., Trimble Navigation Limited, Fugro N.V., Harris Corporation, and Bentley Systems Inc.