Geospatial Analytics Market size was over USD 81.3 billion in 2023 and is anticipated to exceed USD 354.5 billion by the end of 2036, growing at over 15.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of geospatial analytics is evaluated at USD 99.6 billion.
Geospatial analytics leverages geographic information, location data, spatial data, and high-resolution imagery, to extract structured data that can be used for various applications. Big data, machine learning, and cloud computing are used to determine patterns in the geospatial datasets to help improve decision-making in businesses. Acquiring data from global navigation satellite systems, space-borne and aerial remote sensing, location-aware mobile data, field surveys, and wireless sensor networks facilitates the development of intelligent healthcare, public safety, and military applications. Geospatial analytics has emerged as a transformative tool for businesses to optimize operations, enhance consumer experience, and gain a competitive edge.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
15.4% |
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Base Year Market Size (2023) |
USD 81.3 billion |
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Forecast Year Market Size (2036) |
USD 354.5 billion |
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Regional Scope |
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Component (Software, Service)
Software segment is poised to capture geospatial analytics market share of over 63.1% by 2036. This growth of the segment is set to be encouraged by the growing rate of deforestation. A 2020 report by the Food and Agriculture Organization of the United States stated that between 2015 and 2020, the rate of deforestation was 10 million hectares per year, down from 16 million hectares per year in the 1990s. Since 1990, the world's primary forest area has fallen by more than 80 million hectares.
Particularly, more than 8 million hectares of land are affected by climate change each year, making it the primary cause of the rise in deforestation. This has led to the increasing usage of GIS software systems, which gives forestry departments precise data for improved decision-making and aids them in monitoring the loss of forest cover, assessing the health and growth of recently planted trees, and evaluating the land cover over time.
Application (Surveying, Medicine & Public Safety, Military Intelligence, Disaster Risk Reduction & Management, Marketing Management, Climate Change Adaption (CCA), Urban Planning)
The surveying segment in geospatial analytics market is estimated to gather substantial CAGR by the end of 2036. The segment expansion is due to the thriving agriculture sector across the world. According to a 2024 published report by the World Bank Group, agriculture accounts for 4% of global gross domestic product (GDP), and in some least developing countries, it can account for more than 25% of GDP. in Farmers can undertake geospatial analysis with GIS for mapping and surveying plantation crops to increase agricultural output, lower labor expenses, and guarantee crop quality and yield.
Type (Surface & Field Analytics, Network & Location Analytics, Geovisualization)
By the end of 2036, the network and location analytics segment is expected to dominate the global geospatial analytics market as it leverages geospatial data to gain insights, optimize operations, and enhance decision-making across various industries. The increased adoption of network and location analytics solutions in transportation, telecommunications, utilities, retail, insurance, and urban planning is propelling market expansion.
Our in-depth analysis of the global market includes the following segments:
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Component |
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Type |
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Application |
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Technology |
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Offering |
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Deployment |
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North American Market Statistics
By 2036, North America geospatial analytics market is estimated to account for around 35.1% revenue share. The market growth in the region is expected on account of rapid urbanization and the development of smart cities. As an intriguing phenomenon in contemporary urban development, smart city efforts seem to be thriving which relies on geospatial analytics for efficient resource management. According to the United Nations, with 82% of its people living in cities, Northern America is the most urbanized region in the world.
The market in Canada has been steadily growing, driven by advancements in technology and increasing applications across various sectors. Canadian companies specializing in geospatial analytics, along with global players, are actively expanding their presence on the market through partnerships, acquisitions, and technological innovations. For instance, in 2022 Carl Data Solutions Inc., a leader in predictive analytics that uses artificial intelligence and machine learning for compliance-driven environmental monitoring as a service ("EMaaS") and smart city applications, has formed a strategic partnership with Montreal-based K2 Geospatial ("K2").
GIS technology is frequently utilized by the United States federal government's independent National Aeronautics and Space Administration (NASA) to improve user experiences by enabling strong capabilities for managing, viewing, analyzing, serving, and disseminating crucial data and insights.
APAC Market Analysis
The Asia Pacific region will also register tremendous revenue share in the geospatial analytics market owing to the increasing government initiative for the protection of the environment. The preservation of natural heritage in the region has faced numerous difficulties lately, which is likely to boost market demand since the governments have implemented several initiatives to promote green economic restructuring, livelihoods, and economic growth.
Tourism in China requires the assistance of GIS (geographic information system) technology for landscape planning including mapping, spatial analysis, communications with tourists, and visualization of the landscape.
Japan is among the nation’s most vulnerable to natural disasters such as worldwide, which necessitates planning for natural disasters as a crucial aspect of urban development. The country has made significant investments in cutting-edge methods of natural disaster mitigation, which helps individuals comprehend natural disasters better and increases awareness of potential natural disasters including earthquakes.
The market in South Korea is expected to grow at a high rate, as it is being utilized by enterprises, governments, and researchers in a wide range of applications. The Korean Land and Housing Corporation, as well as the Ministry of Land Infrastructure and Transport, have made major investments in geospatial technology and policies.
The geospatial analytics market consists of many key players who are launching various strategic initiatives to expand their market position in the industry.
Author Credits: Abhishek Verma
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