GIS Market in the Utility Industry Size to grow by USD 2307.44 million between 2024-2028
According to a research report “ GIS Market in the Utility Industry” by Product (Software, Data, Services) Deployment (On-premises, Cloud) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2307.44 million, at a CAGR of 16.04% during the forecast period. The utility industry's adoption of Geographic Information Systems (GIS) is on the rise, as this technology enables access to valuable geospatial data and applications. GIS solutions offer enhanced utility operations by providing a comprehensive understanding of the industry's infrastructure. These systems enable the creation of maps, organization, and integration of location data for all utility points, visualization of scenarios, and extraction of actionable insights. GIS implementation can lead to cost savings and effective capital planning. For instance, Esri's ArcGIS utility management solution caters to the electric, gas, water, and sewer industries, offering sophisticated network modeling for scalable analysis and representation in map structures..
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By Product, the Software segment is projected to dominate the market size in 2024
In the utility industry, the software segment of the global Geographic Information System (GIS) market caters to utility companies' unique requirements with specialized software solutions. These platforms enable utility providers, including electricity, gas, water, and telecommunications, to effectively manage geospatial data related to their infrastructure and operations. Utilities leverage GIS software for asset management, infrastructure planning and design, network monitoring, and informed decision-making. Key software offerings within this segment include Geographic Information System software, providing fundamental geographical data management and analysis capabilities.
By Deployment, On-premises segment is expected to hold the largest market size for the year 2024
In the utility industry's Global GIS market, on-premises deployment refers to the installation and implementation of utility companies' own hardware infrastructure, servers, and Geographic Information System (GIS) software. This approach enables firms to manage and analyze geospatial data related to their utility networks, including telecommunications, electricity, gas, and water, for efficient asset planning, operation, maintenance, and monitoring. On-premises deployment offers utility businesses greater control over their data and system configurations, ensuring compliance with industry regulations and security requirements.
North America is forecasted to hold the largest market size by region in 2024
The utility industry in North America, particularly in the United States and Canada, is witnessing significant growth in the adoption of Geographic Information Systems (GIS) technology. Given North America's status as an early adopter of advanced technology and its position as a leading consumer of resources such as electricity, gas, and water, the market for GIS solutions in the utility sector is poised for expansion. The presence of numerous prominent vendors in the region, including Hexagon's Intergraph, further bolsters market growth. In Canada, the implementation of GIS software in government and private utility departments, including those specializing in oil, gas, electric, and water, is driving market growth. For instance, Alectra Utilities, a major electric utility, utilizes Intergraph's G/Technology GIS software to optimize operations and enhance efficiency.
The GIS Market in the Utility Industry growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Geospatial industry is experiencing significant growth in the utility sector with the increasing adoption of smart utilities and infrastructure planning. Smart urban planning, green buildings, and smart city projects are driving the demand for advanced Geospatial technology solutions. Hardware and software solutions are being used for land use management, transportation planning, grid modernization, water management, and mapping systems. Startups in the Geospatial industry are innovating with technologies like augmented reality (AR) and building information modeling to enhance utility infrastructure planning and project management. These solutions provide spatial context, enabling visualizing and designing smart cities, land acquisition, and site selection with precision. Geospatial technology plays a crucial role in smart infrastructure planning, from transportation to utility grid modernization. Utilities are leveraging Geospatial technology to optimize operations, reduce costs, and improve customer service. With the increasing focus on smart cities, the demand for Geospatial technology in the utility industry is expected to continue growing. In conclusion, the Geospatial industry is a key player in the utility sector, providing hardware and software solutions for smart urban planning, green buildings, and smart city projects. Geospatial technology enables effective land use management, transportation planning, grid modernization, water management, and mapping systems, making it an essential tool for utility companies and city planners.
Market Research Overview
The Global GIS Market in the utility industry is experiencing significant growth due to the increasing adoption of modern GIS solutions for infrastructure management in various sectors such as electric, gas, water, and transportation. Companies like Trimble Inc. are leading this transformation with their digital asset solutions, enabling utilities to optimize their operations and enhance customer experience. The utility industry's shift towards smart cities and urbanization development requires investments in GIS solutions for permitting, licensing, and spatial data management. GIS plays a crucial role in smart city projects, urban planning, green buildings, and smart infrastructure planning. Moreover, GIS solutions are essential for industries like mining, agriculture, defense, and construction, where spatial data is critical for effective planning and management. The Geospatial industry's evolution includes the integration of hardware and software solutions, such as 4D GIS software, augmented reality platforms, and sensor technology, to provide real-time data and analysis. Startups and Geospatial technology are disrupting traditional business models with innovative solutions in areas like grid modernization, mapping systems, water management, and transportation applications. The use of Artificial Intelligence (AI) and Geospatial Artificial Intelligence in GIS solutions is revolutionizing the industry, enabling predictive analysis and automation of various processes like Business Process Management, Customer Relationship Management, and Enterprise Resource Planning. In conclusion, the GIS market in the utility industry is witnessing a surge in demand due to the need for efficient infrastructure management, smart city planning, and the integration of advanced technologies like AI, AR, and sensor technology. The future of GIS solutions lies in providing real-time data, predictive analysis, and automation to optimize operations and enhance customer experience.
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