Geospatial Solutions Market to Reach $1,457.7 Billion, Globally, by 2031 at 13.1% CAGR: Allied Market Research
PORTLAND, Ore., Sept. 21, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Geospatial Solutions Market by Solution Type (Hardware, Software, Services), by Technology (Geospatial Analytics, GNSS & Positioning, Scanning, Earth Observation), by Application (Surveying, Navigation & Mapping, Geovisualization, Asset Management, Planning & Analysis, Others), by End Use (Utilities, Defense and Intelligence, Transportation and Logistics, Infrastructural Development, Natural Resources, Agriculture, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global Geospatial Solutions industry was estimated at $432 billion in 2021, and is set to reach $1,457.7 billion by 2031, growing at a CAGR of 13.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
- Nonetheless, lack of awareness about benefits of geospatial solutions can impede the expansion of the global market.
- The COVID-19 pandemic favorably impacted the growth of the global geospatial solutions market with geospatial techniques such as geographic information system and mapping massively used for detecting disease pattern.
- Based on the solution type, the software segment is set to contribute to the highest market share in 2021, accounting for more than two-fifths of the global geospatial solutions market share.
- The region accounted for more than one-third of the global geospatial solutions market share in 2031.