GIS Analytics: Key market research findings
- Need for efficient land management drives market growth
- Europe dominates the market geographically
- Key vendors – IBM Analytics, Trimble Navigation, Esri, Hexagon, Pitney Bowes, GE, and MDA
Technavio’s market research analyst predict the global GIS analytics market to grow at a CAGR of more than 18% between 2016 and 2020. The market’s growth can be accredited primarily to the need efficient land management. Geographic information system (GIS) analytics makes it possible to manage land information resourcefully by providing valuable information such as land registration details, vacant land areas, and data on mining activities. Furthermore, it helps in logistics management and location identification, resulting in better community planning, utility management, and asset management. During 2015, Europe dominated the global GIS analytics market by occupying more than 32% of the overall market share. The growing need for a faster, more effective decision-making processes in the retail sector is expected to drive growth in the GIS analytics market in Europe during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the GIS analytics segments based on the end-user.
“Integration of GIS with big data is an upcoming trend in the worldwide GIS analytics market. Such an integration would result in a new approach to analyzing and sorting large volumes of cluttered data to obtain meaningful and useful data. GIS analytics provider Esri has already built GIS tools for Hadoop which can assist in the use of Hadoop framework for spatial analysis on spatial data,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
The retail and real estate industries accounted for around 29% of the overall market share to become the dominant revenue generator in the global GIS analytics market in 2015. The GIS technology helps to improve the efficiency and effectiveness of supply chain management. GIS analytics provides details of products sold in each geographical location, which makes it easy for product manufacturers and suppliers to understand the demand for each product. The need for analysis of customer demographics and to understand buying patterns is expected to fuel growth in this segment of the market in the coming years.
The key vendors in the market include IBM Analytics, Trimble Navigation, Esri, Hexagon, Pitney Bowes, GE, and MDA. Characterized by the presence of many established and new vendors, the global GIS market appears to be fragmented. Vendor competition is mainly based on product portfolios and service offerings. Vendors concentrate on increasing their increasing product portfolios and upselling products by upgrading the existing ones with added features. Major GIS software vendors have also started acquiring small and regional vendors to acquire new technologies and also to gain a considerable share of their market.
A more detailed analysis is available in the Technavio report, Global GIS Analytics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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