Global GIS Market in the Utility Industry Will Grow at a CAGR of 12% during 2019-2023 | Technavio

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).

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The global GIS market in the utility industry will post a CAGR of over 12% during 2019-2023. (Graphic: Business Wire)

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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Fortune 500 companies.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190415005046/en/