The rising investments by government organizations, increasing utilization of spatial data and cloud technology, growing implementation of enterprise geographic information system (GIS) solutions, and surging demand for GIS-based solutions for location-as-a-service (LaaS) platforms are the prime factors resulting in the positive growth of the market. Owing to these factors, the global geographic information system market is projected to reach $25.6 billion by 2030, registering a CAGR of 12.1% during the forecast period (2020–2030).
COVID-19 Impact Analysis
The adoption of geographic information system solutions is projected to rise owing to the effect of COVID-19, which, in turn, would result in swift market growth. This would mainly be due to the high utilization of the GIS technology in order to map the spread pattern of the disease and implement surveillance and preventive measures. As a result, in an effort to mitigate the effects of the pandemic, various government agencies are making use of GIS capabilities, such as location intelligence, spatial analytics, and mapping.
Hardware Category Is Dominating Component Category
Based on component, the geographic information system market is classified into hardware, software, and service. Of these, the hardware category accounted for the largest revenue share in the market in 2019. This was mainly due to the high requirement for a computer system with a strong processing capability, large hard disk space, and integrated input/output devices, such as printers and scanners, for the geographic information system to operate. Further, based on hardware, the global navigation satellite system/global positioning system (GNSS/GPS) antennas category held the largest share in 2019. This was mainly due to the functionality of GPS/GNSS devices that send information to receivers on the ground, in order to help users determine one’s location.
The mapping category held the largest share in the geographic information system market in 2019, on the basis of function. The increasing urbanization rate in developing as well as developed countries has augmented the demand for mapping functions in urban planning applications, such as land acquisition, urban growth assessment, water quality management, environment impact analysis, and land zone classification. Countries including China and India are recording significant growth in the development of urban areas, which is resulting in the expansion of residential infrastructure, to accommodate the rising population. This is expected to provide lucrative opportunities to the GIS market in this category during the forecast period.
Geographically, the fastest growth in the demand for geographic information system solutions is expected in the Asia-Pacific (APAC) region during the forecast period. This would mainly be due to the increasing demand for the GIS technology from emerging economies, including China, India, Indonesia, and Malaysia. Moreover, China is intensely focusing on the development of smart cities, wherein GIS is being used in the planning and development stages. In addition, the increasing government focus across various countries toward developing high-class infrastructure, to enhance the manufacturing industry, is another major factor that is likely to increase the adoption of the GIS technology.
Partnership Is Strongest Strategic Move Adopted by Market Players
The players in the GIS market are developing partnerships in order to strengthen their foothold in the market. For instance, in March 2019, Esri Inc. announced a partnership with 3LOG Systems Inc., a provider of log inventory management solution in the worldwide forestry solutions marketplace. With this partnership, the company aims to integrate log inventory solution with GIS software that helps natural resource managers to make decisions, which are environmentally sustainable and cost-effective.
Further, in May 2020, Esri Inc. partnered with Inter-American Development Bank (IDB), a long-term financing organization, in order to enhance governments’ response to the immediate public health emergency caused by COVID-19, in the LATAM and Caribbean regions. The partnership aims to provide technical knowledge and assistance on the usage of geographic information system and georeferenced data and leverage analytics models to solve complex problems and handle the crisis. The partnership will also support the creation of safety nets for vulnerable populations, economic productivity and employment, and the development of fiscal policies to relieve the adverse economic impact.
Browse report overview with detailed TOC on "Geographic Information System (GIS) Market Research Report: By Component (Hardware, Software, Service), Function (Mapping, Surveying, Telematics and Navigation, Location-Based Services), Data Type (Cartographic, Photographic, Digital, Tabular), Project Size (Medium, Small, Large), Industry (Government, Construction, Utilities, Telecommunications, Mining, Agriculture, Aerospace & Defense, Oil & Gas) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/geographic-information-system-market
Some of the players operating in the geographic information system market include Esri Inc., Hexagon AB, Autodesk Inc., Bentley Systems Incorporated, General Electric Company, Precisely Incorporated, Maxar Technologies Inc., SuperMap Software Co. Ltd., Schneider Electric Ltd., PASCO Corporation, Trimble Inc., Caliper Corporation, Harris Corporation, Hi-Target Surveying Instrument Co. Ltd., and Topcon Corporation.