India: Geospatial Media and Communications announces the release of the 2nd edition of its comprehensive research report titled GeoBuiz 2018 Report (previously known as The Global Geospatial Industry Outlook). The report is presented in two complementing parts – the Global Geospatial Industry Outlook and the Countries Geospatial Readiness Index 2018. The Global Geospatial Industry Outlook captures the global size, growth and value impact of the global geospatial industry till 2020. It estimates that the geospatial industry is projected to reach US$ 439.2 billion by 2020, growing at a CAGR of 13.6% owing to increasing democratization of geospatial information and its integration with IT. The report also highlights that the embedment of geospatial technologies creates an economic impact on the global GDP at 20% CAGR. Furthermore, the report provides detailed growth estimates of the four key segments of the geospatial industry – GNSS and Positioning, GIS/Spatial Analytics, Earth Observation, and 3D Scanning. For each industry segment, key industry trends, market size, technology drivers, benefits and challenges, and innovations are presented to provide a wholesome perspective on the geospatial industry and its value proposition to the global audience.
The Countries Geospatial Readiness Index-2018 reiterates the need expressed by the government, and industry stakeholders to develop a holistic national geospatial strategy in tandem with technological advancements. The United States of America, United Kingdom, Germany, Singapore and the Netherlands are assessed as top five geospatially ready countries out of the 50 countries index. The assessment is based on an evaluation framework comprising of five pillars (inclusive of 20+ sub-pillars) which are – geospatial data infrastructure, policy framework, institutional capacities, user adoption and geospatial industry capacities. The countries have been grouped as ‘Leaders’, ‘Challengers’, and ‘Aspirers’ in each of the evaluation pillars with comparative insights, and highlights accompanied with geography-wise infographics.
- Other Key Highlights of the report:
Geospatial industry is projected to reach US$ 439.2 Billion by 2020, growing at a CAGR of 13.6% owing to the democratization of geospatial information and its integration with IT.
- GNSS and Positioning accounted for an estimated 59.6% of the total geospatial market. It is expected to maintain its share during 2018-2020 owing to demand for location-based information and increasing need of GNSS devices across industries.
- GIS/Spatial Analytics is expected to grow at a CAGR of 12.4% during the period 2017-2020, with increasing adoption in city planning, utilities, e-governance, retail, and logistics etc.
- Earth Observation industry is estimated to reach US$ 75.9 Billion in 2020, growing at a CAGR of 14.9% with an increase in demand towards high-resolution/ near real-time data and value-added services.
- The global 3D Scanning market is expected to reach US$ 14.2 Billion by 2020, with the growing acceptance in Architecture and Engineering, Automobile, Aerospace and more.
- Technologies driving the 4th Industrial Revolution – Big Data, Cloud, Artificial Intelligence (AI), Internet of Things (IoT), Augmented and Virtual Reality (AR/VR), and Automation – are going to have a far-reaching impact on the geospatial industry and vice versa.
Geospatial Industry Segments Analyzed:
- GNSS & Positioning
- Earth Observation
- GIS & Spatial Analytics
- 3D Scanning
- North America
- Asia Pacific
- South America
- Middle East
User Segments captured:
- Defense and Internal Security
- Urban Development
- Retail and Logistics
- Disaster Management
- Citizen Services
- Natural Resources