Geospatial Analytics Market Trends

Growth Drivers

• Emergence of GeoAI in healthcare - The integration of geospatial services and artificial intelligence (AI) plays a pivotal role in predicting, tracking, and responding to disease outbreaks and improving overall healthcare outcomes. For instance, the Intelligent Catchment Analysis Tool (iCAT), powered by AI, ML, and the Geographic Information System (GIS), maps disease disparities and identifies healthcare outcomes. 
  
  Furthermore, several digital contact-tracing software programs have been developed to mitigate the spread of COVID-19 by tracing areas with high transmission rates and predicting disease evolution. In March 2020, the Singapore government launched the TraceTogether mobile application in response to the COVID-19 pandemic.

• Application of geospatial technology in assessing climate change - Developments in geographic information science (GISc) have transformed the landscape of research in geology and meteorology and play a crucial role in combating climate risks. NASA, the European Space Agency (ESA), and the Centre National d’Études Spatiales (CNES) are collaboratively studying the Sentinel-6 Michael Freilich data to provide insights on rising sea levels and implement climate change models.

• Growing defense and intelligence applications - Military forces use geospatial analytics to gather intelligence, conduct surveillance and reconnaissance, and maintain situational awareness. This includes tracking troop movements, identifying potential threats, and assessing war conditions.

Challenges

• Privacy and security concerns - Geospatial data often contains sensitive information about individuals, properties, or infrastructure. Ensuring data privacy and security while leveraging its potential for analysis poses significant challenges.

• High initial investment and maintenance cost - Although demand for geospatial analytics is expanding across different industries, the high cost of these solutions and data integration remains a significant challenge to market expansion. Due to the high complexity of GIS software development as well as the collection of real-time data, the cost of this software has increased, limiting the expansion of the market.