TechNavio recognizes the following companies as the key players in the Global GIS market in BFSI: Bentley Systems Inc., Esri Inc., GE Energy, and Hexagon AB.
Commenting on the report, an analyst from TechNavio’s team said: “One of the main trends witnessed in the Global GIS market in BFSI is increasing focus on providing application-specific GIS solutions. GIS market vendors are providing customized GIS solutions to meet specific industry requirements/applications as several end-users prefer customized GIS solutions to retain their competitiveness in the market. Customized GIS solutions are cost effective and this acts as a driving factor for its increased adoption over regular GIS solutions. Customization also helps increase the process efficiency of the industry by providing critical information on network and asset health, and provides visibility of the industry’s workflow and processes.”
According to the report, one of the main factor driving the market is the need for efficient decision-making systems. GIS technology is widely used by several companies in BFSI for efficient decision-making purposes as many of the decisions made by these sectors takes geographical perspective into account. Several companies in BFSI use GIS technology for making various critical decisions on various parameters such as the service location and site evaluation for new branch or an ATM, understanding loan lending landscape based on customers presence, and identifying under banked or unbanked geographies.
Further, the report states that one of the main challenges is the lack of awareness about benefits of using GIS technology. End-users in developing countries are unaware of the advantages that GIS products provide. This lack of awareness can be witnessed by the slower growth rate of the Global GIS market in BFSI.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Astrium (EADS Co.), Autodesk Inc., AvisMap GIS Technologies, Beijing SuperMap Software Co. Ltd., Caliper Corp., Computer Aided Development Corp. Ltd., Digital Globe Inc., ERDAS Inc., Geosoft Inc., GoogleMap, Hitachi Zosen Corp., MacDonald, Dettwiler and Associates Ltd., Overwatch Systems, Ltd., PASCO Corp., Pitney Bowes Inc., ScanPoint Geomatics Ltd., SuperMap Inc., SuperMap Software Co. Ltd., Ubisense Group plc, and WTH Technology Inc.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-gis-market-bfsi-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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