United States Geospatial Analytics Market Report 2023: Analysis, Competition, Forecasts and Opportunities, 2024-2028
DUBLIN, Nov. 28, 2023 /PRNewswire/ -- The "United States Geospatial Analytics Market Competition, Forecast and Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
The United States Geospatial Analytics Market is expected to experience substantial growth with a high compound annual growth rate (CAGR) during the forecast period from 2024 to 2028.
This growth is driven by several factors, including the emergence of modern geospatial cloud technology, advancements in drone and UAV technology, increasing adoption of the Internet of Things (IoT), and a rising demand for big data and Artificial Intelligence (AI) solutions. These factors have enabled the development of Geospatial Information Systems (GIS) solutions, particularly in the context of modern geospatial cloud environments.
The integration of information systems with hybrid cloud computing environments for real-time data collection and surveying has contributed to the growth of the geospatial analytics market. Users are seeking remote access solutions at reasonable costs while maintaining their privacy, especially in the context of smart cities development and urban planning. The demand for GIS software in these areas has increased as a result.
Furthermore, the United States has witnessed the growing usage of GIS applications in various sectors, including defense and intelligence, government, urban planning, environmental management, and life sciences. The demand for geospatial-based analytical tools has surged in response to the need for improved surveillance, target recognition, and tracking capabilities, as well as the growing emphasis on safety and security measures.
Despite the growth potential, the market faces challenges such as a lack of awareness about the capabilities of geospatial analytics solutions. However, the increasing awareness and emphasis on digital adoption by the government, coupled with the benefits of cost savings and increased convenience, are expected to drive significant adoption of eospatial analysis across various industries in the United States.
One of the key drivers of market growth is the adoption of IoT and sensor technologies, which are integrated with geospatial analytics solutions to assess risks, monitor remote assets, and manage complex data. The combination of IoT and geospatial analytics simplifies complex relationships through visualization and predictive analytics, enhancing the customer experience in both virtual and physical environments.
Additionally, the demand for GIS software in smart cities development and urban planning is on the rise. Real-time data sharing and analysis are essential for data-driven smart cities, and GIS technologies play a crucial role in providing a universal location-enabled platform for various use cases in the context of smart city projects. These use cases include natural hazard monitoring, urban planning, intelligent transportation systems, disaster management, and climate monitoring.
Furthermore, the defense and intelligence sector has been a pioneer in adopting geospatial analytics for gathering actionable intelligence from massive amounts of imagery and information. Geospatial intelligence, which integrates a nation's imagery and geospatial capabilities, supports defense and intelligence needs, enhances mission effectiveness, and reduces operation and maintenance costs.
In summary, the United States Geospatial Analytics Market is expected to experience substantial growth due to factors such as technological advancements, IoT integration, smart city development, and increased demand from the defense and intelligence sectors. While challenges exist, the market is poised for significant expansion in the forecast period.
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SOURCE Research and Markets