Published on: August 02, 2024
The geographic information system (GIS) market plays a pivotal role in spatial data management and analysis across various industries, leveraging automation systems, mobile applications, and cloud computing for enhanced efficiency and accuracy.
The GIS market size is forecast to increase at a CAGR of 20.89% between 2023 and 2028. The convergence of building information modeling (BIM) and GIS marks a significant trend in the industry. This integration enhances spatial analysis and visualization capabilities, facilitating more informed decision-making in urban planning, infrastructure development, and construction projects. There is also a growing recognition of the value of GIS solutions in disaster management, where spatial data plays a critical role in emergency response, risk assessment, and recovery efforts.
Driven by advancements in mobile devices and cloud GIS applications, the GIS market is poised for substantial growth. The integration of sensor networks and real-time data changes further expands market opportunities across sectors such as natural resource management, geoengineering, and infrastructure development.
Key trends in the GIS market include the proliferation of mobile applications for field workforce management and real-time data visualization. Cloud GIS applications are gaining popularity for their scalability and accessibility, enabling organizations to leverage spatial data efficiently across diverse operations.
Drivers of the GIS market include the increasing demand for spatial management solutions in infrastructure development and engineering projects. The adoption of GIS for natural resource management, including water and wastewater systems, enhances operational efficiency and regulatory compliance. Advances in sensor networks and real-time monitoring capabilities also drive market growth.
Challenges in the GIS market include the complexity of integrating diverse datasets and managing real-time changes in spatial information. Ensuring data accuracy and security in cloud GIS applications poses challenges for dedicated GIS administrators and IT staff. Additionally, the need for skilled personnel and robust infrastructure for GIS hosting organizations adds to implementation complexities.
North America is projected to account for 35% of the global market’s growth by 2028. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market. Being a pioneer in the adoption of advanced technologies across industries, North America is an attractive market for GIS solutions, highlighted in market trends and analysis. The US stands out as one of the most attractive markets in the region for GIS solutions, serving as a key revenue contributor due to its status as the industrial capital of the world and its early adoption of advanced technologies.
GIS solutions find extensive use in the healthcare and telecommunications sectors in the US. Similarly, Canada also contributes significantly to the market in the region, with the government actively framing several action plans to revamp the healthcare sector and efficiently use available resources.
Technavio's GIS industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our GIS market reports include:
In order to provide you with a comprehensive view of the GIS industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
Develop a deeper understanding of the GIS market with Technavio’s comprehensive market research reports. We provide the latest information on key industry dynamics, including global and regional market forecasts, internal and external pressure points, the vendor landscape, and more.
Our in-depth knowledge of the GIS market is built on decades of experience and a global network of industry experts. We know the importance of having a strong foundation on which to base important decisions, and with over 500 analysts located around the world, we deliver actionable insights for every segment of the market.
Technavio’s market research reports provide an analysis of current trends and how they are affecting the market. We also identify market drivers and challenges to help you discover opportunities and avoid pitfalls.
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We provide detailed profiles on the biggest competitors in the market, including data such as business divisions, product offerings, and news. Our reports also include an overview of the competitive landscape as a whole, including the risks and opportunities that it presents.
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