India: The Indian geo services industry generated USD 3 billion in revenue in 2011 alone while accounting for approximately 1,35,000 jobs, according to a BCG report commissioned by Google. More significantly, the impact of the geo services industry is valued at approximately 15 times its own size. In India, geo services help Indian businesses drive USD 40-45 billion in revenue, save USD 70-75 billion in costs and affect 8-9 million jobs in India. The BCG report also found that Indian consumers are also willing to pay USD 1.5-2 billion more than they currently do for geospatial services such as online maps, navigation systems and local searches.
Commenting on the report, Lalitesh Katragadda, Country Head – India Product, Google said, “Geo services helped generate USD 2 billion in revenue within the Indian accommodation and food services industry alone. In the report, restaurants reported benefitting from new customers finding them through local searches. Users benefit as it makes it easier for them to find the information on local offerings and creating valuable efficiencies in their day-to-day lives.”
“Geo services such as the Google Maps APIs are helping to grow the Indian economy by enabling job opportunities, and paving the way towards future innovation. To enable continued growth, governments, companies, researchers and consumers all need to encourage mapping innovations and investments in India,” he added.
The Indian geo services industry is comprised of companies that process the location data, companies that produce geo-enabled software, and expert industries that use geospatial data to generate insights. Beyond the industry itself, a wide variety of other industries in India also use geo services to make their businesses more efficient and productive. Consider Meru Cab, India’s largest cab provider and the third largest taxi operator globally. Meru Cab oversee over 20,000 trips a day across the four massive metros of Mumbai, Delhi, Hyderabad and Bangalore — using geo services, they’ve pioneered the concept of GPS-enabled taxis in India, using a GPS-based tracking system to identify match customers with the nearest cab and swiftly scheduling pickups.
Indeed, geo services industry in India is still at a nascent stage. To ensure that geo services continue to be a valuable driver of the Indian economy, there is a need to invest in it—through support of open data policies, product innovation, better satellite technology, and pushing for more geography education programmes in schools.
Source: Telecom Tiger