Asia Pacific Geospatial Analytics Market Forecast 2020-2028
The geospatial analytics market of Asia Pacific is anticipated to register a CAGR of 15.71% over the forecast period of 2020-2028. The major companies in the GI market are focusing on the Asian region to boost their market share. In the Asian region, the demand for GIS software is expected to rise, due to the transition from 2D to 3D based mapping, increase in penetration of mobility, and rise in adoption of GIS technologies in India, Japan, South Korea, and China. Moreover, the development of the Internet of Things(IoT), cloud computing, and big data is contemplated to present more opportunities for GIS applications augmenting market growth in the region.
The Asia Pacific geospatial analytics market is analyzed further by dividing the region into countries such as Japan, South Korea, India, Australia & New Zealand, Thailand, Vietnam, China, Indonesia, and the rest of Asia Pacific that includes Malaysia, Singapore, and others. In Indonesia, favorable government initiatives to promote geospatial projects in the country are making the market demonstrate a growing trend. Further, measures are being taken to develop an effective, functional, and advanced data infrastructure. In Thailand, reliable data is required for agriculture and stock farming. A geospatial data, and analytics company, Planet, has signed a deal with GISTDA, a government agency under Thailand’s Ministry of Science and Technology, to provide satellite images for regular monitoring in the country.
The market of Vietnam is observing a stable growth owing to the rapid urbanization, along with growing initiatives towards earth observation and remote sensing. The production of satellites will help in tackling climate change and warning about natural calamities, facilitating the market growth. In Australia, geospatial data is used mainly by organizations and businesses to choose location and geography, which are very important in determining the success of an organization. The Singapore government is planning to invest in the smart nation initiative, which will boost the market growth in the country.
Hexagon AB, General Electric Company, Environmental Systems Research Institute, Inc., MacDonald, Dettwiler and Associates Ltd., Trimble Inc., etc. are some of the prominent companies operating in the market.
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