Where there is a problem, there is an opportunity – an opportunity to provide a solution. The same holds true for the geospatial industry. Until a few years ago, the geospatial product industry used to offer stand-alone products. The industry moved forward, and the focus shifted to providing services along with products. The requirements from the industry are no longer one-dimensional and off late, the users have begun demanding the fixes to their quandaries aggressively. All this has led to the diversification of the industry. The industry is, therefore, witnessing a fusion of hardware, software, and data to create, manage and deliver seamless solutions.
Evolving Geospatial Product Landscape
The geospatial product industry has been consolidating rapidly over the years giving rise to interesting trends and shifts. Core geospatial companies are responding to the transformations by taking an open-ended approach in terms of providing ready-made solutions according to the users’ needs and requirement. Geospatial solutions are information/data-rich and enable real-time business decisions. At present, these solutions are at the end of the value chain. The world is beginning to reject systems that create silos; instead, the industry is looking to make disparate solutions that fit the customer workflow management rather than the other way around. As the client emphasis shifts from tools to solutions, more projects are coming up where the total solution is desirable.
The Global Geospatial Industry Outlook, an exclusive study by Geospatial Media and Communications, highlights fascinating facts of the changing geospatial product landscape in the industry. The report also explains how geospatial technologies function within the digital platform and ranks 50 economies on the basis of their geospatial readiness.
The changing product landscape in the geospatial industry is driven by the solution- driven strategy that involves the synthesis of several technologies to enhance efficiency and productivity. Ten years ago, hardware was the largest stakeholder of the geospatial industry. Instead of proprietary hardware and software packages, the industry today is doing out software ready hardware. So much so, that 14% of hardware companies today make software as well.
The geospatial product industry has also begun to realize the value of content and up to date location information which has compelled companies to offer synergy products of hardware, software and data. The current trend in the industry shows that 3% of both hardware and software industry players are also offering data packages to provide customer specific solutions. More so, 1% of companies provide top-to-end solutions i.e. products that involve the synthesis of technologies ranging from hardware (sensors) through content and through to software. These products form the end solution which can be incorporated to horizontal as well as vertical enterprises.
The geospatial ecosystem has widened and the industry has, therefore, successively become solution-centric. Companies have made smooth transitions from services to solutions and system integration by integrating geospatial with different ecosystems to deliver content and information has a competitive edge over others. Seamless delivery of industry-specific solutions is the key to success in the industry now.
Geospatial solutions provide high business value to an organization and its customer. To facilitate high-quality workflow and data management which would drive efficiency, effectiveness, and productivity, a number of small geospatial solutions are integrated together to offer customized packages to the industry verticals. Today, comprehensive geospatial solutions are available for land administration, mapping, and GIS, forestry, infrastructure, transportation, etc. Industries that offer geospatial solutions operate at a very advanced level because they integrate myriad technologies into one system. While the market is still catching up with this trend, a significant number of players with a futuristic mindset have already started moving towards a system integration level with strategic alliances. Five years down the line, this shall be the dominating trend across the industry.