Forecast into the use of geospatial technologies

The global geospatial analytics market size is expected to reach US$134 479.7 million by 2025, registering a CAGR of 15.0% from 2019 to 2025.

Numerous innovations and advancements in the drone technology and increasing deployment of unmanned aerial vehicles (UAVs) for remotely monitoring and gathering a large number of location data with minimal human intervention are likely to unfold new opportunities for market growth. Additionally, the increasing use of GPS-enabled smartphones and devices is also anticipated to drive market growth.

Increasing smart city initiatives have resulted in the growing need for innovative technologies for use in 3D urban mapping, monitoring and mapping natural resources, agriculture, and utilities, and disaster management. In case of natural disasters, location-based analytics enables decision makers to take suitable actions. Moreover, major oil and gas companies across the globe are increasingly deploying geospatial analytics solutions to discover potential crude oil and natural gas deposits and to monitor their vast pipeline network.

The use of geospatial technologies in the automotive industry is increasing owing to the growing safety concerns among passengers. According to data released by the US Census Bureau, approximately 85.7% of the US employees above 16 years of age commute to work in a van, car, or truck, either by driving alone or via carpooling. With around 125 million people traveling by road every day, the US transportation system faces numerous challenges such as congested highways and fatal vehicle collisions.

Companies discussed in the report include: Alteryx, Inc. Bentley Systems Incorporated, ESRI, Fugro N.V., General Electric Company, Google LLC, Harris Corporation, Hexagon AB, Maxar Technologies Inc. and SAP SE.

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