Authored By: Sarah
12 Feb 2024

Charting the Geospatial Data Analytics Boom: A Whopping USD 184.62 Billion Expedition Expected by 2027

The rising adoption of Geospatial Data Analytics in the healthcare and insurance sectors, rising applications of geospatial data analytics in disaster management, and a growing requirement for real-time data capture are steadily propelling market growth across the world. As per the forecast, Global Geospatial Data Analytics Market is a billion-dollar market in the making with an estimated revenue growth of USD 184.62 billion between 2023 and 2027. It is estimated the market will grow at a CAGR of 17.72% during the forecast period.

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The Geospatial market can be segmented by technology (GPS, GIS, remote sensing, and others), end-user (BFSI, government and utilities, telecom, manufacturing and automotive, and retail and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

Geospatial Analytics Market: Eccentric Business Drivers 

Navigating through the business drivers of the Geospatial Analytics Market it has been observed that the incorporation of geospatial data analytics in the healthcare and insurance sectors is primarily driving market advancement. Evidence-based medicine sector also heavily depends on geography and spatial relationships, as geodata infrastructure is used in medical informatics to improve patient care and personal health

Moreover, demand for geospatial data analytics solutions is also being driven by the growing applications of geospatial data analytics in mapping the infected areas (of the human body) and the rising popularity of medical tourism across the world.

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Geospatial Analytics Market Analysis

Geospatial Analytics Market:  Core Companies Analysis 

Companies are constantly upgrading themselves  with  product/service launches, enabling a series of options as per end-user industries' requirements.,to enhance their market presence followed by constant product innovation to keep up with digitization around the world.

Organizations like CartoDB Inc. offer GIS, web mapping, and spatial data science tools for data analysis and visualization. Its offerings of The company include geospatial data analytics for cloud connectivity, integration, and visualization.

Some of the leading names in the Geospatial Analytics Market sphere are Alphabet Inc., Alteryx Inc., Autodesk Inc., Bentley Systems Inc., Development Seed, Esri Global Inc., Fugro NV, General Electric Co., Geomap Co., Hexagon AB, International Business Machines Corp., L3Harris Technologies Inc., etc. Our report includes qualitative and quantitative analyses of market leaders with a wider understanding of the business ecosystem. Download Geospatial Analytics Market Sample Report Now

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