Kalkine Media - Growing demand for location-based insights, integration of AI/ML, expanding industry applications, real-time analysis needs drive Geospatial Analytics Market.
PORTLAND, OREGON, UNITED STATES, July 28, 2023/EINPresswire.com/ -- The Global Geospatial Analytics Market, which was valued at $60.94 billion in 2020, is expected to increase at a CAGR of 13.0% from 2021 to 2030 to reach $209.47 billion.
The term "geospatial analytics" refers to a method for analyzing data and satellite pictures from a variety of geospatial sources, such as remote sensing, geographic information systems (GIS), and global positioning systems (GPS). A geospatial analytics solution's primary duties also include problem identification, change monitoring, problem management, and problem response.
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One of the most significant trends in the geospatial analytics market is the integration of artificial intelligence (AI) and machine learning (ML) technologies. By incorporating AI and ML algorithms, businesses can analyze vast amounts of geospatial data more efficiently and gain valuable insights. These advanced analytics techniques enable automated pattern recognition, anomaly detection, and predictive modeling, empowering organizations to make data-driven decisions faster and with greater accuracy.
Geospatial analytics is finding applications in diverse industries beyond traditional sectors like urban planning and environmental management. Industries such as agriculture, transportation, insurance, retail, and healthcare are increasingly adopting geospatial analytics to optimize their operations. For instance, precision agriculture utilizes geospatial data to manage crops, monitor soil conditions, and optimize resource allocation. Similarly, logistics and transportation companies use geospatial analytics for route optimization and fleet management.
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The demand for real-time geospatial analytics is growing rapidly. Organizations need up-to-the-minute insights to respond to dynamic events such as natural disasters, traffic congestion, and supply chain disruptions. Real-time geospatial analytics enable businesses to monitor and respond to changes in real-world conditions promptly. With the help of IoT devices and geospatial technologies, companies can track assets, monitor environmental parameters, and predict potential issues, thus enhancing their situational awareness and decision-making capabilities.
The shift towards cloud-based geospatial analytics solutions has been gaining momentum. Cloud platforms offer scalability, flexibility, and cost-effectiveness, making them an attractive option for organizations looking to process and analyze large geospatial datasets. Cloud-based geospatial analytics services also promote collaboration and data sharing among different stakeholders, fostering more comprehensive and integrated decision-making processes.
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This report gives an in-depth profile of some key market players in the geospatial analytics market are Alteryx, Inc., Bentley Systems, Incorporated, ESRI, Furgo NV, General Electric (NYSE:GE), Hexagon AB, Google (NASDAQ:GOOGL), Inc., MDA Corporation, Oracle Corporation (NYSE:ORCL), SAP SE (ETR:SAPG), Trimble, Inc., and TOMTOM International, Inc. This study includes geospatial analytics market trends, geospatial analytics market analysis, and future estimations to determine the imminent investment pockets.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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Allied Analytics LLP
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