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Geographic Information System (GIS) Market will grow at a CAGR of 10.31% during 2018-2022
By inewswire

""Market Research and Consulting Company""
A geographic information system (GIS) is a system tool that integrates software, hardware, and allied services to capture, analyze, store, manipulate, and present geographic or spatial data.

According to a report made available by Radiant Insights, Inc.; the Geographic Information System (GIS) market is projected to growth at a CAGR of 10.31 % during the forecast period (from 2018 to 2022).Rapid urbanization and development of infrastructure and smart cities across the globe are expected to boost the demand for GIS in the coming years.Companies are increasingly adopting enterprise GIS that enables the access to all geospatial data and applications within the company to increase operational efficiency. These services enable better interdepartmental communication, ease of sharing resources, and decision-making capabilities. This is also anticipated to contribute toward the development of the Geographic Information System (GIS) market over the next few years.

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In addition, the development of cloud technology along with the advent of Light Detection and Ranging (LiDAR) technology is expected to boost the market growth. Rising integration of geospatial technology with various mainstream technologies for business intelligence is expected to boost the global market demand in the coming years. The integration of GIS and big data analytics is the current trend in the industry. This has offered a new technique to analyze high volumes of clustered data. For instance, Esri, the provider of spatial analytics recently released a set of facilities and user-friendly updates to its ArcGIS platform. The company has released ArcGIS Enterprise 10.6, a newer version of the full-featured mapping and analytics platform.

This latest version enables users to securely share custom analytics and other content. In addition, the integration of GIS with Internet-of-Things (IoT)-enabled devices delivers precise data to users using the geospatial data analysis. For example, an IoT-enabled valve can be administered from anywhere using geospatial data. However, insufficient data in GIS development and the lack of communication between end-users and developers may hamper the market growth. On the other hand, trends such as the development of indigenous mapping systems would propel the growth of the GIS market in the years to come.

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The global Geographic Information System (GIS) market can be segmented on the basis of product, end-use, and region. On the basis of product, the market is segregated into software, services, and data. On the basis of end-use, the market can be categorized into telecommunications, government, military, natural resources, and utilities. On the basis of geographies, the market can be divided into Americas, Asia Pacific, and Middle East and Africa (MEA).Americas are expected to exhibit a significant growth in the future on account of the increased adoption of GIS in the healthcare, military, and utility sectors.

Asia Pacific is likely to witness a steady Geographic Information System (GIS) market growth over the estimated period as a result of rapid urbanization in the region, particularly in the emerging economies such as India and China. The rising usage of geospatial technologies in rural, as well as agricultural, development is expected to boost the Asia Pacific GIS market growth. End-use sectors in the region including construction, manufacturing, insurance, mining, agriculture, and others are increasingly implementing geospatial technologies for identifying potential markets. This is Geographic Information System (GIS) marketalso projected to drive the demand in this region.

Wide usage of mapping and surveying techniques is also expected to drive the market development in the Asia Pacific region. Moreover, rising number of smart city projects in the emerging countries in the Asia Pacific and Southeast Asia regions has increased the demand for 3D GIS. This is also likely to augment the market growth over the next few years. Prominent vendors operating in the global GIS market include Maxar Technologies Ltd.; Autodesk; Maxar Technologies Ltd.; Hexagon AB; and ESRI.

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About Radiant Insights, Inc

Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

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