Geospatial Analytics Market Expected to Reach $220.2 Billion by 2033

According to a new report published by Allied Market Research, titled, “Geospatial Analytics Market," The geospatial analytics market was valued at $85.5 billion in 2023, and is estimated to reach $220.2 billion by 2033, growing at a CAGR of 9.6% from 2024 to 2033.

Geospatial analytics uses various data sources to understand the complex relationship between people and places. Furthermore, geospatial analytics is majorly applicable in weather monitoring, crisis management, climate change modeling, sales analysis of industries, animal population management, and human population forecasting. In addition, many industries are adopting geospatial analytics, as it facilitates real-time forecasting and helps in gaining better insights of data. 

Factors such as surge in demand for AI-based GIS solutions and increase in demand for geospatial analytics in smart cities development and urban planning drive the market. In addition, integration of GIS with mainstream technologies for business intelligence positively impacts the growth of the market. However, high cost of geospatial analytics and regulatory issues and lack of comprehensive government policies regarding geospatial analytics are expected to hamper the market growth. On the contrary, rise in adoption of cloud-based GIS and increase in application of augmented reality (AR) & virtual reality (VR) technologies in geographic information system are expected to offer remunerative opportunities for the expansion of the global market during the forecast period.

Geospatial analytics involves the use of geographic data and technologies such as Geographic Information Systems (GIS), satellite imagery, and spatial statistics to analyze and interpret patterns, relationships, and trends in various fields. In urban planning, it helps optimize land use, infrastructure development, and resource allocation. Environmental monitoring employs geospatial analytics to assess climate change impacts, track deforestation, and manage natural disasters. In agriculture, precision farming benefits from mapping soil conditions and crop health for improved yields. Healthcare uses it to track disease outbreaks, identify healthcare service gaps, and plan vaccination campaigns. Retail businesses leverage geospatial data for site selection, supply chain optimization, and targeted marketing. Furthermore, geospatial analytics supports military and defense operations by enhancing situational awareness and mission planning. By integrating spatial data with advanced analytics, it empowers decision-making across diverse sectors, enabling sustainable development and efficient resource management.

The large enterprise segment is expected to garner a significant geospatial analytics market size during the forecast period due to several key factors, including the increasing need for advanced analytics to support large-scale operations, complex decision-making, and resource management. Large enterprises, especially in industries such as retail, manufacturing, transportation, and energy, generate vast amounts of geospatial data that require sophisticated tools for processing and analysis. Geospatial analytics enables these enterprises to optimize their supply chains, improve logistics, manage infrastructure, and enhance customer experiences through location-based insights. 

Region-wise, Asia-Pacific dominated the geospatial analytics market size in 2023 and is expected to retain its position during the forecast period. The major factor that drives the growth of the market in this region includes the high adoption rate of advanced technologies such as Geographic Information Systems (GIS), remote sensing, Artificial Intelligence (AI), and cloud computing, which enhance the capabilities of geospatial analytics solutions. North America, particularly the U.S., is a global leader in technological innovation, making it an ideal market for the deployment of cutting-edge geospatial tools. Additionally, the region’s well-established infrastructure, robust funding for smart city initiatives, and increase in investments in sectors such as urban planning, transportation, environmental monitoring, and defense further fuel the demand for geospatial analytics. 

KEY FINDINGS OF THE STUDY 

• By component, the solution segment accounted for the highest geospatial analytics market share in 2023. 

• By deployment mode, the on-premise segment accounted for the highest geospatial analytics market share in 2023. 

• By enterprise size, the large enterprise segment accounted for the highest geospatial analytics market share in 2023. 

• By type, the network & location analytics segment accounted for the highest geospatial analytics market share in 2023. 

• By industry vertical, the environmental monitoring segment accounted for the highest geospatial analytics industry share in 2023. 

• By region, Asia-Pacific generated the highest revenue in 2023. 

The key players profiled in the geospatial analytics industry include Alteryx, Inc., Bentley Systems, Incorporated, ESRI, Furgo NV, General Electric, Hexagon AB, Google, Inc. Other players in geospatial analytics market includes MDA Corporation, Oracle Corporation, SAP SE, Trimble, Inc., and TOMTOM International, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. This study includes geospatial analytics market forecast, geospatial analytics market analysis, and future estimations to determine the imminent investment pockets.