Are you aware that commercialization and democratization of content continues to fuel the global geospatial market? GeoBuiz 18, a comprehensive report on the Global Geospatial Industry Outlook and Countries Geospatial Readiness Index, finds the global geospatial industry expected to grow at a CAGR of 13.6% between 2017-2020 to reach US$440 billion in 2020. The growing relevance and maturity of the geospatial market has scaled up applications, amplifying its impact on the global GDP at the tune of CAGR 20.9%.
The burgeoning adoption of GNSS, spatial analytics, satellite imagery, and geo-enabled applications in varied sectors like Seismology, AEC, Industrial Workflow, Disaster Management, BFSI, Retail and Logistics, etc. is driving the geospatial market growth. The report establishes that the sharp expansion of the user base – bolstered by numerous initiatives taken by the government will make the Asia-Pacific region the fastest growing region for the geospatial industry by 2020. North America and the European regions are expected to maintain their growth momentum with emergence of new ventures in the domain. Furthermore, with integration of IT processes and engineering workflows, a collaborative environment, system integration, increasing demand for end-to-end solutions and commercialization – the scope of the geospatial industry is set to be redefined.
But that’s not all! The GeoBuiz’18 report reveals more such insights based on a rigorous analysis of 500+ industry surveys/interviews and 1500+ press releases (over 5 years), several one to one meetings, and focused group discussions.