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Global Cloud GIS market to exceed by $875 mn by 2020: Report

US: If a report published by Technavio is to be believed, the global cloud GIS market in 2015 was valued at $519 million and is expected to surpass it with $875 million by 2020. In this report, the market research company covers the present scenario and growth prospects of the global cloud GIS market for 2016-2020.

The report underlines three regions that segmented the cloud GIS market, which includes Americas, APAC and EMEA. The Americas dominated the market in 2015 because of increased demand for GIS technology in the US. And it is expected that the region will slightly increase its market share by 43.7% by 2020. Many US companies are heavily investing in the use of GIS technology in the utilities and natural resources industries.

Subsequently, EMEA is the second largest region in terms of market share and also is the second fastest growing region. The cloud GIS market in EMEA was valued at USD 148 million in 2015 and is expected to reach USD 253 million by 2020, growing at a CAGR of 11%.

And APAC is currently the smallest region for the cloud GIS market but perhaps not for long. The region is growing at a CAGR of over 14% and will reach USD 240 million by 2020. China, Japan, South Korea, and India are the major revenue contributors for the region. The government of India has started the implementation of Digital India, an initiative to improve Internet connectivity and infrastructure in order to allow people to easily avail themselves of government services.

Source: Technavio