Numerous advances have happened across the information and communications industry thus revolutionizing the geospatial industry. Progressively sophisticated systems embedded with location technology have catapulted the geospatial industry to the forefront of business and application development. The convergence of geospatial technologies with mainstream IT and engineering has resulted in user-friendly, synergistic and compelling technologies like Cloud, Big Data, Internet of Things (IoT) and Automation and Robotics. These technologies are driving geospatial industry.
The Global Geospatial Industry Outlook, an exclusive study by Geospatial Media and Communications studies the technologies driving geospatial industry. The report explains how geospatial technologies function within the digital platform and discusses the changing geospatial technology landscape. The study also ranks 50 economies on the basis of their geospatial preparedness.
Big Data, Cloud, and IoT are all part of a continuum. It is hard to think about Internet of Things without thinking about the Cloud, and it is hard to think about the Cloud without factoring in the analytics. As these technologies flourish and new opportunities are created, the users for geospatial technology continue to grow. Unlocking the potential of such technology, goes straight to the heart of the business strategy, spawning the need to understand the trend that will follow in the coming future.
Cloud computing is increasingly becoming the preferred platform for product delivery and is at the core of the digital disruption happening in the geospatial industry. Cloud proves to be cost efficient and secure within the current commercial encryption technologies. It allows smaller businesses to act faster than big, established competitors and gives them the power to cause disruption to the market. According to IDC, Cloud computing is projected to increase from $67B in 2015 to $16B in 2020 attaining a CAGR of 19%. Additionally, 74% of Tech Chief Financial Officer (CFOs) believe that cloud computing will have the most measurable impact on their business in 2017.
Cloud-based solutions are now being developed for Geographic Information Systems as a Software-as-a-Service (SaaS). Location data, geographic rich data can now be shared on the cloud, providing real-time data for critical analysis over the cloud which can be used by GIS and non-GIS specialists at the same time. Simultaneously, another cloud-based geospatial computing trend is that if connected to mobile devices, there is an easy access to the vast databases of geospatial information anywhere with a wireless data connection.
Internet of Things
One of the transformational trends of 2017 is the Internet of Things (IoT), soon to become ‘Internet of Everything’. Geospatial information is critical to the adoption and success of IoT technology for unlocking functions for developers to effectively empower IoT. Using GIS and the IoT technologies combined with location enhances decision making and establishes efficient business processes. The volume of location data and spatial data will only increase as the IoT market expands towards 21 Billion devices in 2020. The emergence of IoT is leading towards a world of connected cars, smart cities, smart devices, etc., enabling geospatial analytics in a wide range of products. A collective use of machines, sensors, and mobile platforms, leads to leveraging data from the IoT to create trillions of dollars’ worth of value-addition across the global economy. To tap into the attributes of data of ‘where’ and ‘when’, IoT, enables immediate real-time analysis of data for a wide range of highly value-driven applications.
According to a study by Ovum, the Big Data market is expected to grow from $1.7 Billion in 2016 to $9.4 Billion by 2020. Big Data or Big Geospatial Data is occupying a unique place in the analytics in the real world. Geographic Information System (GIS) and Big Data can be now seen as the two halves of a whole. The volume of geospatial data has grown exponentially with the advent of remote sensing, global navigation satellite systems (GNSS), aerial imagery, LiDAR, etc. With multiple geospatial big data streaming into the GIS helps in better understanding of spatial trends and relationships. A Huge amount of data along with the geographic context is integrated into multiple data layers to derive a complete picture. The convergence of data layers with mapping leads to deeper insights, profitability and better Return on Investment. Geospatial technology and analytics applied with Big Data brings operational efficiencies to facilitate deep insights and develop predictive models for enhanced analysis in Location, Climate, Disaster Management, Health Care, Crime Detection, etc.
Artificial Intelligence, Robotics, and Automation (“AIRA technologies”)
With Internet of Things and Big Data and Cloud Computing becoming a reality, companies are beginning to focus their energies on formulating new opportunities in automation and robotics. Artificial Intelligence empowers Robotics and Automation bringing in new opportunities and new ways of being and working. Largely these technologies do things that humans cannot do or don’t want to do. According to a study by Market Research Future, the Global Cloud Robotics Market is poised to reach at USD 17 Billion by 2022, growing at 29% per year. Automation too is expected to become a bigger mainstay in and throughout 2017 as it is going to be driven by the increasing demand in various industries, progress in wireless technology, etc. One of the main innovations in this time of automation is the automated vehicles fitted with an array of sophisticated sensors and cameras which crowdsource spatial data. “AIRA technologies” are going to be the next big thing and going to bring in innovation that changes the dynamics of the IT and the geospatial industry on a whole.
In conclusion, Cloud, Big Data, IoT and Automation and Robotics are the game-changing technologies that are revolutionizing the geospatial technology landscape – helping create new products, new applications, and bringing in new trends. These advancements in technology have definitely made geospatial more user-friendly, synergistic and compelling.
Do you want to know more about how Cloud, IoT, Big Data and the ‘AIRA’ technologies are driving the geospatial technology? If yes, download the Global Geospatial Industry Outlook now!