Global GIS Market in the Utility Industry 2019-2023
About this market
AR plays a vital role in visualizing location data and extracting digital information using smartphones. The integration of an AR application with GIS helps in visualizing data of roads and footpaths associated with the vast network of water, electricity, and gas lines. The AR systems integrated with GIS can provide accuracy and stability by converting the traditional GIS data into AR displays based on physical views. AR uses an interface to visualize and can be easily installed on mobile platforms for delivering GIS data. Technavio’s analysts have predicted that the GIS market in the utility industry will register a CAGR of over 12% by 2023.
Increased adoption of GIS solutions in utility industry
The adoption of GIS in the utility industry is increasing, as it allows the industry to access the geospatial data and applications. GIS provides a better understanding and enables efficient utility operations. The GIS solution enables the utility industry to create maps, organize and integrate location data of all points, visualize the scenarios, and extract and analyze actionable insights.
Threat from open-source GIS software
The high cost of GIS software has led to an increased demand for open-source GIS software in the market, especially in emerging countries. These countries consist of many SMEs, which require GIS services. The SMEs do not have enough capital to invest in GIS technology, hence, they prefer open-source GIS software.
For the detailed list of factors that will drive and challenge the growth of the GIS market in the utility industry during the 2019-2023, view our report.
The market appears to be fairly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s
competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global GIS Market in the Utility Industry 2019-2023
Technavio recognizes the following companies as the key players in the global GIS market in the utility industry: Autodesk Inc., BENTLEY SYSTEMS, INCORPORATED, Esri, HEXAGON, Pitney Bowes Inc..
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increased use of GIS for water mangement.”
According to the report, one of the major drivers for this market is the integration of AR in GIS.
Further, the report states that one of the major factors hindering the growth of this market is the lack of planning leads to implementation failure of GIS solutions.
BENTLEY SYSTEMS, INCORPORATED
Pitney Bowes Inc.
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