Ocean View, DE -- (SBWIRE) -- 05/08/2020 -- The global geographic information system market is considerably thriving on the copious amount of geospatial information used by the government agencies for taking data-driven decisions on national & state welfare. The government sector is in fact seen increasingly investing in deploying GIS software across the military, defense, and aerospace for carrying out terrain analysis, crucial surveillance as well as reconnaissance operations, battle field management, and monitoring of possible activities of terrorism.

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With location-based analytics and mapping forming an essential part of the future smart & sustainable technologies, geographic information system market is going a transformation of sorts in the recent times. Over the years, strong technological proliferation in geospatial services for remote sensing platforms and navigation have further accelerated the adoption of GIS solutions for obtaining critical information and real-time location data. With improved operational efficiency and enhanced decision-making, the advent of GIS technology has irrefutably brought a commendable transformation in the recent years.

As an geographic information system market that has registered itself as a vital part of the global economy, this capital sensitive oil & gas sector is one of the most lucrative segments of the global GIS industry. In fact, statistics depict that the oil & gas industry is driven by an anticipated 80% data that has a spatial component, harnessing geographical & spatial information at every possible stage of the life-cycle right from basin analysis to E&P activities to distribution and pipeline management. With GIS industry further bringing in extended spatial analytics and advanced mapping, the oil & gas sector is indeed emerging with the highest potential of GIS application over the entire life-cycle.

North America is poised to secure its position as one of the most promising contenders in GIS business space and is anticipated to procure almost 35% volume of global share by 2024. Striking growth of the geospatial industry has opened up new avenues for market growth. Moreover, the region has unprecedented leverage in terms of the presence of key geographic information system market participants such as Esri and Autodesk.

Elaborating further on the regional landscape, Asia Pacific geographic information system market is slated to pick up pace in the coming years. Fast-track urbanization and the initiation of number of smart cities projects across the region has created a conducive environment for GIS market outlook. Moreover, concrete steps undertaken by the governments in the region to strengthen spatial infrastructure has further triggered the demand for GIS platforms, which is anticipated to ignite regional market growth. For instance, in March 2018, the Japanese government allotted a funding of USD 940 million for boosting space startups in the country and to enable long-term growth of the space industry. As per estimates, Asia Pacific geographic information system market is likely to capture a CAGR of 15% over 2018-2024.

On account of the vast application and regional scope it comes as no surprise that the geographic information system market players are making rapid headways in reinforcing their global positions in unique ways. Recently, for instance, a GIS startup AmigoCloud has announced that it is on a mission to make satellite mapping easier. In order to make digital mapping available for everyone, the company has developed a unique cloud-based GIS app which can be downloaded from Google Play and Apple Store. The proliferations of such different start-ups and core industry players, is undeniably expected to propel the commercialization potential of geographic information system market in the ensuing years.

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Key Companies in Geographic Information System Market: - Autodesk, Bentley Systems, Esri, GE, Harris Corporation, Hexagon AB, Hitachi, MDA, Pitney Bowes, Schneider Electric, Topcon Positioning Systems, Trimble, Inc.

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