Increasing penetration of GIS solutions in transportation sector, development of smart cities and urbanization, and GIS integration with drones and robotics technology are the major factors driving the growth of this market. Moreover, integration of cloud computing in GIS and development of 4D and augmented reality technology are expected to create new opportunities for the geographic information system market.
Northrook, IL -- (SBWIRE) -- 05/28/2020 -- The global geographic information systems (GIS) market size is expected to grow from USD 8.1 billion in 2020 to USD 14.5 billion by 2025 at a CAGR of 12.4% from 2020 to 2025. Development of smart cities and urbanization, integration of geospatial technology with mainstream technologies for business intelligence, growing investments in modern GIS solutions, and increasing accessibility of spatial data and cloud technology are some of the major factors driving the growth of the GIS market.
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Geographic information system market for software to grow at a higher CAGR during the forecast period
The GIS software market is expected to grow significantly during the forecast period owing to the increasing use of GIS in urban planning, disaster management, transport management, and smart city development. Integration of GIS with customer relationship management (CRM) and enterprise resource planning (ERP) has increased the use of GIS for business intelligence and marketing. With the advent of cloud computing and artificial intelligence, GIS analytics software is expected to have great potential to expand the GIS market for software during the forecast period.
GIS market for the agriculture industry is expected to grow at highest CAGR during the forecast period
The GIS industry for the agriculture industry is expected to grow at the highest CAGR during the forecast period. GIS solutions help farmers to achieve increased productivity and reduced costs by enabling better management of land resources. GIS can reduce the risk of marginalization and vulnerability of small and marginal farmers globally. Furthermore, there is a considerable demand for GIS in the agriculture industry for livestock monitoring, crop management, and the monitoring and management of soil and the irrigation of farmlands. The growth of the global agriculture sector, coupled with the increasing penetration of technology in the field, is expected to drive the growth of the GIS market.
APAC to be the fastest-growing region in the geographic information system market during the forecast period
APAC is expected to be the fastest-growing region in the global GIS market. With the increasing infrastructural growth in various countries in the region, GIS is expected to be used for smart city planning and urban development programs.
China is investing heavily in infrastructure development and urban area planning. This investment in the construction industry would boost the market for geospatial surveying technologies such as GNSS receivers and GIS collectors. The growth of the construction industry in Japan is creating opportunities for the GIS market in construction processes. With the emerging urban sector in India, there has been a considerable demand for geospatial technologies that can support various types of urban development projects.
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Key Market Players
Environmental Systems Research Institute, Inc. (Esri) (US), Hexagon AB (Sweden), Pitney Bowes Inc. (US), Autodesk Inc. (US), Trimble Inc. (US), Topcon Corporation (Japan), Hi-Target Surveying Instrument Co. Ltd. (China), Bentley Systems Inc. (US), Caliper Corporation (US), Computer Aided Development Corporation Ltd. (Cadcorp) (UK), SuperMap Software Co. (China), Harris Corporation (US), and Maxar Technologies Inc. (US) are among a few major players in the geographic information system market.
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