London, UK: Research conducted by TechNavio revealed that the global GIS technologies market in the retail sector is expected to grow at a CAGR of 13 percent. The report, Geographic Information System (GIS) Market in Retail Sector 2010-2014, focuses on North America, EMEA, and APAC. It indicated that the market is currently driven by the increasing use of GIS technologies to reduce long term risk.
“GIS provides data oriented suggestions which give long term investors a transparent view of the business. Various critical factors can be easily tracked using GIS making them extremely popular especially in the Retail sector,” reported TechNavio analysts.
In spite of the demand for this technology, a lack of awareness in developing countries about the efficiency of GIS applications hinders the growth of this market. However, the use of GIS technologies as propellers by retailers in order to maximise the profit is expected to drive the market.
The global GIS technologies market in the retail sector is marked by government and private organisations creating awareness about GIS. This makes the study an important one for companies to fully understand the potential in the market and formulate their own strategy.
The report examines the factors impacting the evolution of this market, including the key trends, drivers, and challenges. Further, it contains an in-depth understanding of the key vendors including a SWOT analysis for each vendor. Companies mentioned in this report include: ESRI, Hexagon AB, Bentley Systems, Autodesk, and IBM Corp.