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Geospatial Analytics Market Size, Share, Growth Trends and Industry Report 2023-2030
The Global Geospatial Analytics Market size is projected to reach with a CAGR of 12.8% over the forecast period 2023-2030.
Geospatial analytics refers to computational analytics that harnesses geographic information, location data, spatial data, and increasingly incorporates computer vision, high-resolution imagery, and various forms of artificial intelligence to extract structured data for specific applications and industries. This field utilizes data from diverse technologies, including GPS, location sensors, social media, mobile devices, and satellite imagery. The goal is to create data visualizations that help identify patterns and understand trends in complex relationships between places and people.
Governments extensively rely on geospatial data for a wide range of purposes, including managing traffic patterns, monitoring extreme weather events, and estimating population growth. This data plays a crucial role in urban planning by influencing decisions related to energy, transportation, and housing requirements. The ability to analyze and interpret geospatial information provides valuable insights for informed decision-making and effective resource allocation across various sectors.
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The proliferation of applications in smart cities stands out as a significant driver for the global geospatial analytics market:
Smart cities are integrating technologies to enhance the efficiency of various operations, and geospatial technology plays a central role in the implementation of smart tools. In modern smart cities, the adoption of Internet of Things (IoT) sensors, sensor nodes, mobile applications, smart devices, and social networks generates location-based data. This data is harnessed to improve the effectiveness of diverse city functions, including traffic management, energy optimization, public safety, security, infrastructure development, and emergency response systems.
At the core of this network lies geospatial technology, providing a framework for data collection, decision-making, analytical language, decision implementation methods, and a means of interaction with the public within the context of smart cities. The pervasive use of geospatial analytics is instrumental in creating a comprehensive and intelligent foundation for smart city initiatives worldwide.
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- Surface and Field Analytics
- Network Analysis
- Artificial Neural Networks (ANN)
- Remote Sensing
- Geocoding and Reverse Geocoding
- Reporting and Visualization
- Thematic Mapping and Spatial Analysis
- Data Integration and ETL
- Disaster Risk Reduction and Management
- Medicine and Public Safety
- Climate Change Adaptation
- Predictive Asset Management
- Defense and Intelligence
- Utility and Communication
- Travel and Logistics
Market Key Players
Major players are Microsoft, Google, General Electric, SAP SE, Salesforce, Precisely, Oracle Corporation, RMSI, OmniSci, Inc., Maxar Technologies Inc., WS Atkins Limited, Hexagon AB, TomTom and Trimble Inc.
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