Geospatial Solutions & Services Market By Solution Type (Hardware, Software, and Service), By Technology (Geospatial Analytics, GNSS & Positioning, Scanning, and Earth Observation), By End-user (Utility, Business, Transportation, Defence & Intelligence, Infrastructural Development, Natural Resource, and Others), By Application (Surveying & Mapping, Geovisualization, Asset Management, Planning & Analysis, and Others), and By Region- Trends, Analysis, and Forecast till 2029

Geospatial Solutions & Services Market accounted for USD 238.5 Billion in 2019 and is estimated to be USD 1013.7 Billion by 2029 and is anticipated to register a CAGR of 15.7%.

Geospatial solutions & services are a set of software that provides solutions to organizations, which permit the organization in formulating and anticipating strategies for the future. The geospatial solutions & services primarily are used to determine changes in reference to dynamic spatial conditions or location-based events.

Geospatial technology comprises GIS (geographical information systems), GPS (global positioning systems), and RS (remote sensing), a technology that provides a radically different way of producing and using maps that are required to manage communities and industries. Developed economies are expected to provide lucrative opportunities for the industry for geospatial solutions. The application of geospatial techniques across the globe has witnessed a steady growth over the past decades, owing to simple accessibility of geospatial technology in advanced nations such as the U.S. and Canada, thus further driving the growth of the target the market. Moreover, rising smart city initiatives in emerging countries have resulted in the growing need for geospatial technologies for use in 3D urban mapping, monitoring and mapping natural resources. Increasing adoption of IoT, big data analysis, and Artificial Intelligence (AI) across the globe is projected to create profitable opportunities for global geospatial solutions & services market throughout the forecast period.

Conversely, factors such as huge acquisition costs and operational concerns such as the limited presence of open standards, lack of skilled human resource, and interoperability mechanisms are hampering the global market growth.

The global geospatial solutions & services market is segmented based on the solution type, technology, end-user, application, and region.

On the basis of the solution type, the global geospatial solutions & services market is segmented into hardware, software, and service. Based on the technology, the target market is segmented into geospatial analytics, gnss & positioning, scanning, and earth observation. Based on the end-user, the target market is classified into utility, business, transportation, defence & intelligence, infrastructural development, natural resource, and others. Based on the application, the target market is classified into surveying & mapping, geovisualization, asset management, planning & analysis, and others.

Regional Insights:

In the region, the global geospatial solutions & services market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, North America dominates the global geospatial solutions & services market in terms of revenue terms due to high adoption of latest technologies such as internet of things (IOT), cloud, and big data in the region. The market in Europe estimated for second-largest revenue share in the global geospatial solutions & services market, closely followed by the market in Asia Pacific. The market in the Asia Pacific is expected to register the fastest growth in terms of revenue, due to the growing use of analytics and analytical tools along with rising adoption of advanced technologies such as cloud computing and big data in countries in the region. Furthermore, the markets in Latin America and Middle East & Africa are also anticipated to register relatively stable growth during the forecast period.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2029.  For the purpose of this study, has segmented the global geospatial solutions & services market report based on solution type, technology, end-user, application, and region.

Global Geospatial Solutions & Services Market, By Solution Type:

• Hardware
• Software
• Service

Global Geospatial Solutions & Services Market, By Technology:

• Geospatial Analytics
• GNSS & Positioning
• Scanning
• Earth Observation

Global Geospatial Solutions & Services Market, By End-user:

• Utility
• Business
• Transportation
• Defence & Intelligence
• Infrastructural Development
• Natural Resource
• Others

Global Geospatial Solutions & Services Market, By Application:

• Surveying & Mapping
• Geovisualization
• Asset Management
• Planning & Analysis
• Others

Global Geospatial Solutions & Services Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the global geospatial solutions & services market include HERE Technologies, Esri (US), Hexagon (Sweden), Atkins PLC, Pitney Bowes, Topcon Corporation, DigitalGlobe, Inc. (Maxar Group), General Electric, Harris Corporation (US), and Google. Multiple strategies such as new product launches, acquisitions, and joint ventures are adopted by the companies to enter the market. For instance, in April 2019, Pitney collaborated with Accenture for permitting Accenture Applied Intelligence to apply Pitney Bowes' data assets for the growth of new intelligent solutions. Pitney data assets include location intelligence and geospatial capabilities.

• HERE Technologies
• Esri (US)
• Hexagon (Sweden)
• Atkins PLC
• Pitney Bowes
• Topcon Corporation
• DigitalGlobe, Inc. (Maxar Group)
• General Electric
• Harris Corporation
• Google, Inc.