DUBLIN--(BUSINESS WIRE)--The "Geographic Information System Market by Offering (Hardware (GIS Collector, Total Station, LIDAR), Software, Services), Function (Mapping, Surveying, Telematics and Navigation, Location-Based Service), Industry-Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The geographic information system market was valued at USD 7.2 billion in 2019 and is projected to reach USD 14.5 billion by 2025; it is expected to grow at a CAGR of 12.4% from 2020 to 2025.
The key factors driving the growth of the GIS industry are the development of smart cities and urbanization, integration of geospatial technology with mainstream technologies for business intelligence, and growing adoption of GIS solutions in the transportation sector. However, geospatial data barriers and high costs associated with GIS solutions pose a major restraining factor for the growth of this market.
GIS software to hold the largest share during the forecast period
GIS software provides functions and tools to store, retrieve, manage, display, and analyze all types of geographic and spatial data related to positions of objects on earth. GIS software allows users to create interactive queries, analyze the spatial information, and visualize the result for analysis. Increasing the use of GIS software in urban planning, disaster management, transport management, and smart city development has contributed to market growth. Whereas, the growing adoption of GIS in precision agriculture and rising focus on transportation modeling are expected to have excellent opportunities for market growth.
Location-based services function is expected to grow at the highest rate during the forecast period
Location-based service (LBS) is the ability for a GIS to point out the accurate location of a user using a mobile device they are carrying or their position in certain localities. LBS is an emerging technology that provides real-time spatial information via mobile and field devices. Internet GIS and mobile GIS are important LBS applications, as they provide accurate positioning and real-time information via mobile-networked environments. The rapid evolution of smart mobile devices, availability of fast wireless internet connection and cloud computing, the application of LBS function is expected to grow at the highest rate during the forecast period.
The market for the transportation sector is expected to hold the largest market size during the forecast period
The GIS market for the transportation sector is expected to hold the largest market size during the forecast period. GIS is becoming used extensively in transportation applications such as transportation planning, highway maintenance, traffic modeling, accident analysis, route planning, and environmental assessment of road schemes. Construction of roadways and highways requires accurate land-based information for their planning and construction. GIS helps transportation planners in collecting and analyzing geospatial information for planning, engineering, and construction of highways and roadways. In addition, GIS offers integration of various data types of information such as spatial and non-spatial data required for highway and roadway construction.
North America is expected to hold the largest size during the forecast period
North America region is expected to hold the largest share of the GIS market during the forecast period. In North America, GIS technologies are used extensively in applications such as construction, agriculture, transportation, and utilities. Increasing demand for location-based services and high penetration of GIS in building information modeling, real-time traffic data, precision farming, utility management, and environmental monitoring is expected to drive the growth of the GIS market during the forecast period. The government sector is one of the significant adopters of GIS technologies in the North America region.
- Development of Smart Cities and Urbanization
- Integration of Geospatial Technology With Mainstream Technologies for Business Intelligence
- Adoption of GIS Solutions in Transportation Sector
- Regulations and Legal Issues
- Geospatial Data Barriers and High Cost
- Benefits of Drones Integrated With GIS
- Integration of Cloud Computing in GIS
- Development of 4D GIS Software and Augmented Reality Platforms for GIS
- Integration of GIS Technology With Other Technologies
- Pitney Bowes
- Maxar Technologies
- Caliper Corporation
- Bentley Systems
- Tomtom International
- Supermap Software Co., LTD
- General Electric Company
- Faro Technologies
- L3harris Technologies, Inc.
- Takor Group
- Maptoss Technologies
- Computer-Aided Development Corporation Limited (Cadcorp)
- Hi-Target Surveying Instrument Co., LTD
- Blue Marble Geographics
- Pasco Corporation
For more information about this report visit https://www.researchandmarkets.com/r/g801lf