Geospatial Solution Market: Global Demand Analysis & Opportunity Outlook 2036
Research Nester’s recent market research analysis on “Geospatial Solution Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor’s analysis and a detailed overview of the global geospatial solution market in terms of market segmentation by technology, solution, application, end-user and by region.
Wide Spread Applicability & Government Initiatives and Policies to Promote Global Market Share of Geospatial Solution
The growth of the market can be attributed to the growing applications of geospatial solutions followed by the integration of advanced technologies in GIS applications. Geographical Information System (GIS) are used to analyze and study spatial and geographic data. Incorporation of technologies, such as, Augmented Reality (AR), 3D printing, and artificial intelligence in geospatial solutions is projected to boost the market growth. It is estimated that 97 million people will work in the field of artificial intelligence by 2025. It is projected that the market size of AI will increase at least 120% year over year.
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Moreover, the growing research activities regarding the space and earth, and constant investment in these research activities are estimated to fuel the market growth. In addition to this, the increasing use of global positioning system (GPS) across the globe, is expected to strengthen the market growth.
Some of the major growth factors and challenges that are associated with the growth of the global geospatial solution market are:
· Increasing Demand for Location-based Services
· Rising Use of Unmanned Aerial Vehicles (UAVs) and Drones.
Challenges:
Geospatial solutions heavily rely on accurate and high-quality data. Inconsistent, outdated, or inaccurate data can lead to errors in analyses and decision-making, undermining the reliability and effectiveness of geospatial applications. Cost and accessibility of data and limited infrastructural connectivity are some of the major factors anticipated to hamper the global market size of geospatial solutions.
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By application, the global geospatial solution market is segmented into resource management, web mapping, and research. The web mapping segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. The increasing proliferation of free-to-use mapping software, along with the growing accessibility of e-maps. The growing market for web maps solutions is being driven by the increased adoption of technologies such as li-DAR and remote sensing to capture data. The market is expected to grow in the forecast horizon due to increasing applications such as land use planning urban planning, traffic management, environmental and telecommunications. The number of mobile subscribers amounted to 5.3 billion persons at the end of 2021, equivalent to 67% of the world’s population. The new number of subscribers will reach over 400 million by 2025 at the latest.
By region, the Europe geospatial solutions market is to generate the highest revenue by the end of 2036. European countries are actively incorporating geospatial solutions into smart city initiatives for urban planning, energy management, and sustainable transportation. The country has well-defined regulations for geospatial data and privacy, impacting the use and sharing of geospatial information. These factors are responsible for the market’s growth.
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