Geographic Information System Market Skyrockets to $19.30 Billion by 2031 Dominated by Tech Giants - Autodesk Inc., Topcon Positioning Systems, Inc. and Caliper Corporation | The Insight Partners
The global geographic information system (GIS) market is set for explosive growth, with projections indicating a surge to $19.30 Billion by 2031. This remarkable expansion, driven by rising adoption of GIS solutions in agriculture sector and high demand for real-time location-based services in logistics and transportation and infrastructure sectors.
NEW YORK, Dec. 9, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, "Geographic Information System (GIS) Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component [Hardware, Software, and Services], Function, and End User, and Geography", the global geographic information system market is observing significant growth owing to increasing investment in smart city project development across the globe.
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The report carries out an in-depth analysis of market trends, key players, and future opportunities. In terms of function, the geographic information system market is categorized into mapping, surveying, telematics and navigation, and location-based services.
Market Overview and Growth Trajectory:
Geographic Information System Market Growth: According to an exhaustive report by The Insight Partners, the Geographic Information System Market is experiencing significant growth, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. The market, valued at $10.27 Billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.2% during 2023–2031.
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The global logistics industry was valued at ~US$ 9.4 trillion in 2023 and is expected to reach US$ 9.9 trillion in 2024, with an annual growth rate of 5.3%, according to the United Nations Report in 2022. In the transportation and logistics sector, geographic information systems are used for live traffic monitoring and real-time vehicle tracking. GIS offers monitoring functions using visual display of the spatial data and provides precise geographical real-time positioning of monitored vehicles.
GIS mapping solutions are widely used to create new railway routes, roadways, and other transportation routes. Investments in the infrastructure development of roadways and railways across the globe continue to grow rapidly. According to the Global Infrastructure Outlook Report, in 2023, the global transportation infrastructure investment reached US$ 1.60 trillion. Geographic information systems are widely used in the analysis and visualization of spatial data while planning transportation infrastructure and management. It provides several benefits, such as improved efficiency, cost reduction, and safety and sustainability. According to the World Bank Organization, the Global Roads Inventory Project consists of more than 60 geospatial datasets related to road infrastructure. This dataset covers around 222 countries and includes a roadmap of 21 million km of roads.
Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and APAC. Europe is expected to register the highest CAGR during the forecast period.
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Key Players and Competitive Landscape:
The Geographic Information System Market is characterized by the presence of several major players, including:
- Autodesk, Inc.
- Topcon Positioning Systems, Inc.
- Caliper Corporation
- SuperMap Software Co., Ltd.
- Hexagon AB
- Hi-Target
- Pitney Bowes Inc.
- Maxar Technologies
- AmigoCloud, Inc.
- Trimble Inc.
- Bentley Systems, Incorporated
- Cadcorp Limited
- Spatialworks Sdn Bhd.
- Environmental Systems Research Institute, Inc.
- Blue Marble Geographics
- Abaco SpA
- TomTom International BV
- FARO Technologies, Inc.
- L3Harris Technologies, Inc.
- Başarsoft Information Technologies Inc.
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
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Geographic Information System Market Segmentation, Applications, Geographical Insights:
- The global geographic information system (GIS) market is segmented based on function and end-user.
- In terms of function, the geographic information system market is categorized into mapping, surveying, telematics and navigation, and location-based services.
- Based on end user, the market is segmented into agriculture, oil and gas, construction, mining, transportation and logistics, energy and utilities, and others.
- The geographic information system (GIS) market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
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Geographic Information System Market Recent Developments and Innovations:
- "AEC firms use aerial mapping to share infrastructure funding. With Congressional approval of US$ 17 billion in infrastructure funding, the largest single allocation ever, the scramble to win contracts is about to get red hot and AEC firms are gearing up. Advances in aerial mapping play a key role in how AEC firms pursue these contracts."
- "ComNav Technology LTD. introduces its new Handheld P6H, an advanced and rugged device tailored for Geographic Information System (GIS) data collection and outdoor operations. Featuring GNSS high-precision positioning module, rugged IP67-rated design, and 6'' sunlight-readable display, the P6H ensures incredible positioning accuracy even in harsh environments. It is equipped with SinoGNSS self-developed high precision K8 board and antenna, it tracks all running and planned constellations with 1590 channels, including GPS, BDS, GLONASS, GALILEO, QZAA, IRNSS and SBAS. Its accuracy remains at centimeter or decimeter level."
- "Esri, the global leader in geographic information system (GIS) technology and location intelligence, together with Autodesk, Inc. (NASDAQ:ADSK), a global leader in building information modeling (BIM) technology for the architecture, engineering, construction and operations (AECO) industry, are enhancing their strategic alliance."
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Conclusion:
A geographical information system is used for resource management, scientific investigations, asset management, urban planning, environmental impact assessment, cartography, criminology, history, sales, marketing, and logistics. In August 2024, VHB launched GeoVHB, an internal geospatial platform powered by Esri's advanced ArcGIS technology, which is used by government agencies. GeoVHB is an integrated data set across different geographies merged into a centralized platform for firmwide access and use. It is a custom-built interface that is used as the geospatial data management platform for comprehensive applications.
With projected growth to $19.30 Billion by 2031, the Geographic Information System (GIS) Market represents a significant opportunity for component providers, system technology integrator, system manufacturers, investors, industry stakeholders, end-users and others. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.
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