”Global GIS engineering applications market to grow at 9.26%”

”Global GIS engineering applications market to grow at 9.26%”

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US: The Global GIS engineering applications market is expected to post a CAGR of 9.26% during 2012-2016, according to a report released by market analyst firm Technavio. The Global GIS engineering applications market is driven by many growth factors; one is the increasing demand of GIS from process industries. However, the lack of awareness about GIS technology in developing countries could affect the growth of the market during the forecast period.

In terms of revenue, the Americas accounts for a large share in the Global GIS Engineering Applications market, and is followed by the EMEA region. The market generated more revenue from developed countries as compared to developing countries in the year 2012. The APAC region is one of the fastest growing geographies in the global market due to the emergence of several manufacturing industries in this region.

The Global GIS engineering applications market is driven by several government agencies and public sectors such as utility, natural resource, and telecom. It is also witnessing a huge demand from several non-conventional manufacturing industries such as retail, financial services, and transportation.

Source: Technavio