The Latest Geospatial Industry Statistics Explained
It is predicted that the geospatial analytics market is expected to reach $86.32 billion by 2027.
The statistic states that the geospatial analytics market is forecasted to grow significantly and reach a value of $86.32 billion by the year 2027. This indicates a strong potential for growth in the market for geospatial analytics services and products, which utilize location-based data to provide insights and solutions across various industries such as urban planning, agriculture, transportation, and more. The projected growth suggests increasing demand for geospatial technology as organizations seek to leverage spatial data for decision-making, resource optimization, and strategic planning. This statistic highlights a promising opportunity for businesses operating in the geospatial analytics sector, with the potential for continued expansion and innovation in the coming years.
The Compound Annual Growth Rate in the geospatial analytics market is projected to be 15.6% over the period 2020-2027.
The Compound Annual Growth Rate (CAGR) of 15.6% in the geospatial analytics market projected for the period of 2020-2027 indicates the rate at which the market is expected to grow annually on average during this time frame. This statistic suggests that the geospatial analytics market is anticipated to experience significant expansion, at a steady pace over the entire period, ultimately yielding a total growth of approximately 15.6% each year. This projection provides valuable insights for businesses and investors interested in this market sector, and highlights the potential opportunities for growth and investment over the specified time period.
North America is expected to hold the highest share in the geospatial analytics market during 2020-2027.
The statistic that “North America is expected to hold the highest share in the geospatial analytics market during 2020-2027” indicates that North America is projected to have the largest market share within the geospatial analytics industry over the specified period. This suggests that North America is likely to lead in terms of revenue, adoption, and development of geospatial analytics solutions compared to other regions globally. Factors contributing to North America’s dominance in the market could include technological advancements, strong infrastructure for geospatial data collection, significant investments in research and development, and a high demand for geospatial analytics solutions across various industries such as government, utilities, transportation, and agriculture in the region.
The Asia Pacific geospatial solutions market size was worth USD 14 billion in 2019.
The statistic “The Asia Pacific geospatial solutions market size was worth USD 14 billion in 2019” represents the total value of the market for geospatial solutions, such as geographic information systems (GIS) and satellite imagery services, in the Asia Pacific region in the year 2019. This figure reflects the cumulative revenue generated by companies offering geospatial technology and services, including software, hardware, and data solutions for spatial analysis and mapping applications. The market size of USD 14 billion suggests a significant investment and demand for geospatial solutions throughout the Asia Pacific region, highlighting the growing importance of spatial data in various industries including urban planning, natural resource management, transportation, agriculture, and more.
As of 2018, the geospatial industry in the US alone is responsible for 4 million jobs.
The statistic states that as of 2018, the geospatial industry in the United States alone supports a total of 4 million jobs. This indicates the significant impact and scope of the geospatial industry in terms of employment opportunities. Geospatial technologies encompass a wide range of tools and practices related to mapping, satellite imagery, and geographic information systems (GIS), which are crucial for various sectors such as agriculture, urban planning, natural resource management, and public safety. The statistic underscores the industry’s role as a major driver of economic activity and job creation in the United States, highlighting the importance of geospatial technology in today’s interconnected world.
In 2011, the geospatial industry generated annual revenue of $73 billion in the U.S.
The statistic highlights that in 2011, the geospatial industry in the United States generated a significant annual revenue of $73 billion. This indicates the economic importance and scale of the geospatial sector within the country during that year. The term “geospatial industry” refers to a range of activities related to location-based data, mapping, remote sensing, and geographic information systems (GIS). The substantial revenue figure suggests that there was a high demand for geospatial services and products in 2011, reflecting the increasing reliance on location-based technologies across various sectors such as urban planning, natural resource management, infrastructure development, and disaster response.
The geospatial industry contributed $1.6 trillion in annual economic output in the U.S. in 2011.
The statistic highlights the substantial economic impact of the geospatial industry in the United States in 2011, indicating that it generated $1.6 trillion in annual economic output. This figure encompasses the total value of goods and services produced by businesses operating within the geospatial sector, which involves the collection, analysis, and interpretation of geographic data. The significant contribution of the geospatial industry to the U.S. economy underscores its role in driving innovation, supporting various sectors such as urban planning, transportation, agriculture, and environmental management, and creating employment opportunities. This statistic underscores the importance of continued investment and development in the geospatial industry to further leverage its economic potential and drive growth and competitiveness in the broader economy.
The European geospatial business applications market is projected to grow at a CAGR of 15.3% from 2020 to 2027.
This statistic indicates that the European geospatial business applications market is expected to experience a compound annual growth rate (CAGR) of 15.3% between the years 2020 and 2027. This growth rate represents the average annual growth rate over this time period. A CAGR provides a smooth representation of the annual growth rate over multiple years, offering a more accurate reflection of the market’s performance compared to simple annual growth rates. The projection of a 15.3% CAGR suggests a strong and steady expansion of the European geospatial business applications market in the upcoming years, indicating potential opportunities for companies operating within this industry.
In 2019, the geospatial industry was one of the fastest-growing sectors in India.
The statistic that the geospatial industry was one of the fastest-growing sectors in India in 2019 indicates a significant and rapid expansion of the industry within the country during that year. This growth suggests increased demand for geospatial technologies and services in various sectors such as agriculture, urban planning, disaster management, and transportation. The expansion may be attributed to advancements in technology, increasing awareness of the benefits of geospatial data, and government initiatives promoting the use of geospatial information. The fast-paced growth of the geospatial industry in India signifies its rising importance in driving economic development, innovation, and efficiency across different domains within the country.
The market for geospatial technologies is estimated to grow by 12% annually worldwide.
This statistic indicates that the market for geospatial technologies, which includes tools and techniques used for gathering, analyzing, and visualizing geographic data, is projected to experience a significant annual growth rate of 12% on a global scale. This growth suggests an increasing demand for geospatial technologies across various industries such as urban planning, agriculture, environmental monitoring, and transportation. The steady rise in the adoption of geospatial solutions can be attributed to factors such as technological advancements, the need for efficient resource management, and the growing emphasis on location-based services. As organizations continue to recognize the value of geospatial data in making informed decisions and improving operational efficiencies, the market is expected to expand further in the coming years.
In 2017, the geospatial industry added $75 billion in revenue to the U.S. economy.
The statistic indicates that in 2017, the geospatial industry contributed $75 billion in revenue to the U.S. economy. This industry involves the collection, analysis, and interpretation of geographical data to understand and visualize patterns in the environment. The significant revenue generated highlights the growing importance and impact of geospatial technologies across various sectors such as agriculture, urban planning, defense, and environmental management. The revenue boost not only reflects the financial success of businesses within the sector but also signifies the broader economic benefits derived from leveraging advanced geospatial capabilities to inform decision-making, drive innovation, and enhance productivity in multiple industries.
The geospatial industry’s total global market value was $306 billion in 2017.
The statistic stating that the geospatial industry’s total global market value was $306 billion in 2017 represents the combined financial value of all geospatial products and services worldwide during that particular year. This figure underscores the substantial economic impact and widespread relevance of geospatial technologies across various sectors, including environmental monitoring, urban planning, transportation, agriculture, and more. The significant market value indicates the growing demand for geographic information systems, satellite imagery, GPS technology, and other geospatial tools for decision-making, resource management, and innovation on a global scale. Analyzing trends and changes in the geospatial industry’s market value can help stakeholders understand the industry’s growth, competitiveness, and potential for future development.
The earth observation segment dominated the geospatial market with a share of over 40% in 2019.
The statistic indicates that the earth observation segment held a significant position in the geospatial market in 2019, capturing more than 40% of the market share. This suggests that the use of earth observation technologies, such as satellites and remote sensing, played a leading role in the geospatial industry during that year. It further highlights the importance of utilizing earth observation data for various applications such as mapping, environmental monitoring, agriculture, disaster management, and urban planning, among others. The dominance of the earth observation segment signifies the substantial contribution of this technology to the growth and development of the geospatial market in 2019.
The aerial-based geospatial solutions market is projected to hold around 30% share by 2026.
The statistic indicates that the aerial-based geospatial solutions market is expected to capture approximately 30% of the total market share by the year 2026. This projection suggests a significant prevalence and growth trajectory for aerial-based geospatial solutions within the broader geospatial market landscape. Factors contributing to this anticipated market share could include advancements in aerial imaging technology, increasing demand for detailed and high-resolution geospatial data, and the expanding applications of aerial-based solutions across various industries such as agriculture, infrastructure development, and environmental monitoring. This statistic highlights the competitiveness and potential dominance of aerial-based geospatial solutions in the near future.
In 2020, the United States geospatial analytics market was valued at USD 27.91 billion.
In 2020, the United States geospatial analytics market had a value of USD 27.91 billion. This statistic indicates the total revenue generated within the geospatial analytics sector in the United States during that year. Geospatial analytics involves the use of location-based data to analyze patterns, trends, and relationships, providing valuable insights for various industries such as agriculture, transportation, urban planning, and disaster management. The significant market value suggests the growing importance of geospatial analytics in decision-making processes and its increasing adoption across different sectors.
In 2020, more than 50% of Asia’s smartphone owners used location-based services.
The statistic that more than 50% of Asia’s smartphone owners used location-based services in 2020 indicates a significant adoption of this technology across the region. Location-based services utilize a smartphone’s GPS functionality to provide users with personalized and location-specific content such as maps, recommendations, and notifications. The utilization of these services by more than half of smartphone owners in Asia suggests a growing reliance on mobile devices for everyday tasks and navigation. This statistic highlights the importance of location-based services in enhancing user experiences, enabling targeted marketing efforts, and fostering innovation in various industries such as retail, transportation, and tourism within the Asian market.
About 10% of the world economy could be impacted by the geospatial industry.
The statistic suggests that the geospatial industry, which involves the collection, analysis, and visualization of spatial data such as maps, satellite images, and GPS data, has a significant influence on the global economy. The statement implies that approximately 10% of the world economy is linked to activities and technologies within the geospatial industry. This impact could be attributed to various factors such as the use of geospatial data in sectors like urban planning, agriculture, transportation, natural resource management, and disaster response. The statistic highlights the crucial role that geospatial information plays in driving economic growth, decision-making processes, and innovation across industries worldwide.
The European geospatial analytics market is projected to grow from USD 22.4 billion in 2019 to USD 40.5 billion in 2024.
The statistic states that the European geospatial analytics market is expected to expand significantly over the five-year period from 2019 to 2024, with a projected growth from USD 22.4 billion to USD 40.5 billion. This indicates a substantial increase in the market size, suggesting a growing demand for the applications of geospatial analytics technology in various industries throughout Europe. The rapid advancement of technology, coupled with the increasing adoption of location-based services and the need for efficient spatial data analysis, are some of the key factors driving this projected growth in the European geospatial analytics market.
By 2025, 75% of new business applications will leverage geospatial data.
The statistic ‘By 2025, 75% of new business applications will leverage geospatial data’ indicates that a significant majority of upcoming business applications will incorporate location-based information to enhance their functionalities and decision-making processes. Geospatial data offers valuable insights by providing context based on geographic locations, enabling businesses to optimize operations, target specific markets, and improve customer experiences. This trend underscores the growing importance of location intelligence in various industries such as retail, logistics, healthcare, and urban planning, as organizations recognize the strategic value of leveraging spatial information to gain a competitive edge and drive innovation.
References
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