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GIA publishes global outlook on the GIS Industry

San Jose, US: Global Industry Analysts, Inc., (GIA), a publisher of off-the-shelf market research, published a market research report titled, Geographic Information Systems (GIS): A Global Outlook. According to the report, global GIS market is estimated to reach USD 10.6 billion by 2015. The report explained that with rebounding of global economy from the recession, developed countries in North America and Europe are expected to increase expenditures into GIS technology in near future. Additionally, growing awareness of the technology in developing countries in Asia, Middle East and Latin America adds impetus to market growth.
Global GIS market is expected to witness significant growth driven by increasing adoption of the technology in industries such as oil and gas distribution, electric power and other government sectors. Presently, GIS is used in wide range of applications including gas and oil exploration, identification of utility lines, and mapping and planning among others.
Despite the immense popularity garnered over the past few years, certain issues continue to hinder market growth. Integration of the technology with cloud technologies remains one of the major challenges for the industry. A major factor hindering growth of the GIS industry is the high cost associated with the technology. Although, prices have declined in the recent past, the technology is still considered to be expensive for smaller companies. Going forwards, as the significance of geospatial technologies and content increases, conventional markets such as governance and infrastructure sectors would continue to strengthen. Defence is expected to remain the single largest market for geospatial technologies while demand from infrastructure development sector is also expected to grow.
In addition, the report observed that developments in satellite based mapping over the past few years have led to a drastic rise in available geographic information/data. As a result, GIS technologies are finding application in a wide range of new industrial end uses. Furthermore, data available in GIS engineering applications has become an integral part of the functioning of businesses across several industries. Increasing awareness among organisations about timesaving attribute of GIS and price stabilisation at lower levels has contributed in large measure to the widespread adoption of the technology. The healthy growth posted by GIS industry was however interrupted by the global economic crisis during 2009-2010. European governments stopped purchasing GIS technology during the period in anticipation of low tax collections. Meanwhile, the North American GIS market remained comparatively strong, largely due to the efforts of governments to improve homeland security. Expenditures on GIS technology however, rebounded significantly in 2010.
Moreover, the report provides a collection of statistical anecdotes, market briefs and concise summaries of research findings. The report offers an aerial view of the global GIS industry, identifies major short to medium term market challenges and growth drivers. Market discussions in the report are punctuated with fact-rich market data tables. Regional markets elaborated upon include North America, Europe, Asia-Pacific and rest of world. The report also offers a recapitulation of recent mergers, acquisitions and corporate developments in addition to an indexed, easy-to-refer, fact-finder directory listing the addresses and contact details of participating companies worldwide.
Source:  www.prweb.com