Global Geographic Information System Market Forecast 2017-2025
The Global geographic information system market is anticipated to grow from USD 14.80 billion in 2017 and projected to reach up to USD 48.21 billion by 2025, at 15.90% CAGR during 2017-2025. The base year considered for the study is 2016 and the forecast period is between 2017 and 2025. Rising awareness regarding the importance of spatial data and its usefulness, increased demand for spatial data from different industries, are the key factors for the increasing adoption of GIS.
The GIS market is segmented by product on the basis of software, data and service. It is also segmented by end users on the basis of government, natural resources, utilities, telecommunications, military, banking financial services and insurance (BFSI), transportation, retail and other end user applications.
Europe is the global leader in the geographic information systems market withholding more than one-third (34.30%) revenue share of global market. The major factors driving the growth in Europe are the increased emphasis on security and safety, and the high demand for implementing geospatial services to gather real-time information. There are an increasing number of investments in GIS in the region, by the key players in the market such as, Intergraph Corporation, Trimble Navigation Limited, and Hexagon AB. Asia-Pacific is the fastest growing GIS market with CAGR 17.85% for the forecast period of 2017-2025. With the emerging economies like China, India, Japan, South Korea, increased demand from transportation, natural resources, utilities and military segments, investment favoring government rules and regulations, it is foreseen that Asia Pacific will command the market soon.
The key players in the GIS market are, ESRI Inc, MDA Corporation, Hexagon AB, Autodesk, Pitney Bowes, and Bentley Systems.