Geospatial Solutions Market Regional Analysis:
North American Market Insights
North America is anticipated to hold a major market share of 33% 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 Insights
The Asia Pacific region is anticipated to grow at significant CAGR with about 27% market share 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.
