Geographic Information System (GIS): Worldwide Market Outlook to 2023 – A $10.12 Billion Opportunity

The geographic information system (GIS) market was valued at USD 5.33 Billion in 2016 and is expected to reach USD 10.12 Billion by 2023, growing at a CAGR of 9.6% between 2017 and 2023.

Convergence and integration of geospatial technology with mainstream technologies such as analytical tools, database, & enterprise solutions (e.g., ERP and CRM) are considered one of the key drivers expanding the utility of geospatial analytics across various industries. Geospatial data collected from various sources are stored, processed, and analyzed to derive geographic information. The geospatial analyzed information is used for decision-making by various end users. The adoption of geospatial technology has further resulted in improved productivity and efficiency of enterprises across different sectors such as transportation, energy, mining, oil & gas, telecommunication, construction, agriculture, and business enterprises. For instance, real estate site selection, route selection, zoning, planning, conservation, and natural resource extraction involve the usage of geospatial analytics and geographic information system (GIS) solutions. Geospatial software and service providers can deploy more comprehensive solutions through technology convergence and integration with mainstream technologies.

Convergence and integration of geospatial technology with mainstream technologies such as analytical tools, database, & enterprise solutions (e.g., ERP and CRM) are considered one of the key drivers expanding the utility of geospatial analytics across various industries. Geospatial data collected from various sources are stored, processed, and analyzed to derive geographic information. The geospatial analyzed information is used for decision-making by various end users. The adoption of geospatial technology has further resulted in improved productivity and efficiency of enterprises across different sectors such as transportation, energy, mining, oil & gas, telecommunication, construction, agriculture, and business enterprises. For instance, real estate site selection, route selection, zoning, planning, conservation, and natural resource extraction involve the usage of geospatial analytics and geographic information system (GIS) solutions. Geospatial software and service providers can deploy more comprehensive solutions through technology convergence and integration with mainstream technologies.

MarketsandMarkets has identified some of the important industries in Europe where GIS expected to have significant impact for 2017 and beyond. These have been classified into agriculture, oil and gas, construction, transportation, utilities, mining, and others. The GIS market in Europe is projected to reach USD 2.77 billion by 2023, at a CAGR of 8.2% between 2017 and 2023.

Role of GIS in Agriculture

GIS is used in the survey of plantation crops and management of fertilizers, pesticides, and insecticides. GIS is an essential tool for mapping and managing agricultural resources as it provides analytics and assists users in decision-making for crop planning and land-resource management. GIS plays a crucial role in agriculture by increasing yields, managing agricultural resources, predicting outcomes of yield, and improving farm practices. Agricultural land mapping plays a vital role in the management of land resources. High-resolution geospatial images collected from remote sensing and land surveying are used to map and analyze soil data to improve farming methods and procedures. The use of GIS helps farmers to manage their land resources efficiently. In addition, GIS technologies offer agricultural land cover mapping and assessment of crop damage caused by natural disasters.

Significance of GIS in Oil & Gas

Geographic information system plays an important role in the oil & gas industry. Crude oil and gas are now found in deeper layers of the earth’s crust than before, and hence it is essential to use precise technologies such as GIS for oil and gas exploration as well as for its appropriate utilization. In oil & gas, GIS technologies such as satellite imagery and airborne remote sensing are widely used for oil and gas exploration, drilling oil wells, and pipeline management. GIS provides insight on the selection of areas for an exploration drilling process. Exploration drilling and pipeline management require accurate geographical data mapping. In addition, GIS provides assistance in locating new oil and gas resources and manage its extraction and supply.

GIS helps in engineering and designing of construction projects

Construction end user is a leading adopter of geospatial technologies. GIS plays an important role in mapping and surveying of construction sites and serves as a complete platform for infrastructure development life cycle. Urban planning and infrastructure development require accurate mapping and surveying of the geographic area. GIS can accurately assess construction projects such as a dam, bridge, sewer, canal, industrial park, water management, and power plant. GIS tools are integrated with computer-aided design (CAD) tools for civil engineering applications. The increasing urbanization and growing population have created an urge for the use of GIS for systematic and synchronized planning of land and other resources. Some of the important applications of GIS in construction are land surveying, building information modeling (BIM), land cover mapping, property assessment, urban planning, and smart city planning.

Role of GIS in transportation planning

GIS is gaining traction in transportation applications such as transportation planning, highway maintenance, traffic modeling, accident analysis, and route planning. GIS helps transportation planners to store and analyze geospatial data as well as mapping of transportation features with a base map. GIS plays a significant role in highway infrastructure management and development of roads, bridges, and railway routes. With the increase in urbanization, there is a need for effective transportation planning. GIS tool can be used in managing, planning and evaluating transportation management systems. Integration of transportation information system (TIS) with GIS is commonly referred to as GIS for transportation (GIS-T). With the growing adoption of GIS in transportation, companies are focusing on developing transportation-specific GIS applications. For instance, Caliper Corporation (US) offers TransCAD, GIS software, specially designed for transportation applications such as traffic modeling and transportation planning.

geographic-information-system-market2.jpg

Ad:


Free Technical Magazines

Today's Top Picks for Our Readers:
Recommended by Recommended by NetLine