Geospatial Solutions Market size is expected to surpass USD 3060 Billion by the end of 2036, growing at a CAGR of 16% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of geospatial solutions was around USD 460 Billion. 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 Systems (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.
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.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 16% |
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Base Year Market Size (2023) |
~ USD 460 Billion |
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Forecast Year Market Size (2036) |
~ USD 3060 Billion |
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Regional Scope |
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Growth Drivers
Challenges
Application (Resource Management, Web Mapping, Research)
The web mapping segment is anticipated to account for 58% share of the global geospatial solutions market during the forecast period owing to the increasing proliferation of free-to-use mapping software, along with growing accessibility of e-maps. The growing market for web maps solutions is being driven by 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.
End-User (Utility, Business, Transportation, Defence & Intelligence, Infrastructural Development)
The transportation segment in the geospatial solutions market is anticipated to gain substantial share during the forecast period this is due to an increasing trend of travels, with the use of inbuilt mobile maps and others. Moreover, in order to guarantee safety, there has been an increasing demand for spatial data in the field of transport management & planning as well as a higher demand for location-based mapping products that encourage route planning.
Our in-depth analysis of the global market includes the following segments:
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Technology |
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Solution |
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Application |
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End-User |
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North American Market Forecast
North America geospatial solutions market is anticipated to hold 33% of the revenue share by the end of the forecast period, owing to the presence of leading technology providers in the region, along with early adoption of advanced technology providers in the region. Moreover, the growing investment in research regarding space and earth is expected to boost the market growth. According to the report by the National Aeronautics and Space Administration (NASA), the budget provided to NASA amounted to USD 21 billion in 2020. Increasing investment in defense, as well as advances in telecommunications technology. Moreover, it is expected that market investment in these services will increase as a consequence of the deployment of LBS enabled drones for border security and surveillance monitoring high risks by federal agencies, governments or nongovernmental organizations.
APAC Market Statistics
The Asia Pacific region is anticipated to account for 27% share of the global geospatial solutions market during the forecast period on the back of development in terms of technology enhancement and rising investment in research associated with geospatial solutions. There has been rapid growth for geospatial solutions in the urban population due to growing economies in the region, such as India, China, and Indonesia. The rapid growth of the region is driven by the rising demand for geospatial solutions to develop smart cities, smart infrastructure, and well-planned urban landscapes across emerging economies such as China, India, and South Korea.
Author Credits: Abhishek Verma, Hetal Singh
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