LONDON--(BUSINESS WIRE)--Technavio has announced the release of their research report on the global GIS market in the utility industry for the forecast period 2019-2023. This GIS market in the utility industry analysis report segments the market by application (software, data, and services) and geography (APAC, Europe, MEA, North America, and South America).
Global GIS market size in the utility industry will grow by USD 1.09 billion during 2019-2023, at a CAGR over 12%. GIS plays a pivotal role in the grid modernization in utilities as it enhances the resiliency of the grid. The GIS enables visualization of 2D and 3D data, real-world modeling, network functionality on any device including smartphones, desktops, and web and aids in building and monitoring of grids. The process of enhancing grid resiliency includes modeling of the grid, checking the grid vulnerability in both predictive and real-time scenarios, and understanding of grid in real-time.
The integration between GIS and Building Information Modeling (BIM)
Building information modeling (BIM) software is being integrated with GIS that helps to organize and standardize 2D and 3D design data at the primary level. In the secondary level of BIM implementation, GIS and BIM software can be integrated into 3D computer-aided design (CAD) software, which can be used in construction works. Integration of GIS with BIM can introduce a geospatial element into the structural design, which results in better planning of the pipelines and efficient visualizing and analyzing of data. Thus, the integration of GIS and BIM will fuel the growth of the GIS market during the forecast period.
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“The adoption of GIS in the utility industry is growing at a significant rate, as it allows the industry to access the geospatial data and applications. The GIS solution allows the utility industry to create maps, organize, and integrate location data of all points, visualize the scenarios, and extract and analyze actionable insights. GIS can also help reduce costs and aid in capital planning. As a result, the adoption of GIS is increasing, thereby, fueling the growth of the GIS market in the utility industry,” says an analyst at Technavio.
View a snapshot of the report for a more detailed overview of the market and the segmentation covered in this report
This GIS market in the utility industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several printed carton manufacturers including –
- Autodesk Inc.
- BENTLEY SYSTEMS, INCORPORATED
- Esri
- HEXAGON
- Pitney Bowes Inc.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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