Geospatial Analytics Market Size Expected To Reach $153 Billion By 2027

As per TBRC’s geospatial analytics market forecast, the geospatial analytics market size is predicted to reach a value of $153.22 billion by 2027, rising at a significant annual growth rate of 15.7% through the forecast period.

One of the reasons why geospatial analytics industry is growing so fast is the development of smart cities.

Geospatial analytics can be used to map the city's infrastructure, identify areas of need, and plan for future development.

For example, a city could use geospatial analytics to map its transportation network and identify areas where congestion is a problem. This information could then be used to plan new transportation projects or to improve existing ones.

Major players in the geospatial analytics market include Alteryx, Carto, ESRI, General Electric, SAP, Tomtom, Trimble, Google, Hexagon Ab, Maxar Technologies, Bentley Systems, Fugro, Geoviet Consulting, GIS Co. Ltd., Mandalay Technology and Bayanat.

Secondly, the advances in technology, including more sophisticated satellite imaging, GPS systems, remote sensing, and GIS software, have made it easier and more cost-effective to collect, process, and analyze geospatial data.

This has expanded the potential applications of geospatial analytics across various industries.

Brands like Uber relies heavily on geospatial analytics to optimize driver routes, pricing, and surge pricing predictions. This allows them to provide a better user experience while maximizing revenue.

Ecommerce giants like Amazon uses geospatial analytics to optimize its supply chain and delivery routes, ensuring efficient delivery of packages to customers. It also uses location data to enhance its advertising and marketing strategies.

For more details about geospatial analytics and how it can help your brand grow, reach out to Bayanat today for a detailed discussion.