Geospatial business dynamics are constantly changing and evolving with global dynamics from the IT industry. Our team that worked for Geospatial World Forum 2016, that focused on Where is the Money in Geospatial Industry, and we have some great insights on opportunities for your geospatial business till 2020.
We have identified 7 potential areas, where the geospatial business and geospatial jobs will be there in the future. Please note that these are very boarder figures, taken from various published reports.
7 key areas for geospatial business
Here are the 7 key areas, where there is a potential of geospatial business right from IoT for Smart Cities, to Big Data; Indoor & Mobile Mapping to Analytics.
Here’s the number crunching for you!
|Prospect areas for geospatial business||Overview of business potential|
|Smart Cities & Internet of Things (IoT)||> IoT deployments will create $421 billion in economic value for cities worldwide|
|Big Data Analytics||> Worldwide big data technology and services market to grow to $48.6 billion in 2019|
|Mobile Sensors & Mapping||> The mobile mapping market size is estimated to grow to $26.6 billion by 2020|
|Indoor Positioning & Mapping|| > By 2018, around $10 billion in spending to be touched or directly affected by indoor location
> Global indoor location market is predicted to grow to $4.4 billion by 2019
|Cloud Computing||> Global cloud computing services market to reach $127 billion by 2017|
|Open Data|| > Globally, seven sectors alone could generate $3 trillion to $5 trillion a year in additional value as a result of open data.
> For the period 2016-2020, the direct market size for open data in Europe is estimated at €325 billion
|Location Based Services|| > By 2019, over 7 billion GNSS devices will be in use
> Location based services market to grow 8.3% annually
So, all these would trickle down to four key areas as mentioned below that were discussed at Geospatial World Forum 2016 plenary sessions.
– Disruptive Business Models of Geospatial Content
– Business Opportunities of Location Intelligence
– System Integration and Solutions Driving the Market
– Software and Hardware Products: Trends and Directions