Geographic Information System (GIS) Market Expected to become USD 12.7 Billion by 2024

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Geographic Information System Market Analysis and
Forecast 2024
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Geographic Information System (GIS) Market

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Geographic Information System (GIS) Market
Industry Overview
The global GIS market was valued at USD 6.3
billion in 2017 and is further expected to become
USD 12.7 billion by 2024. This market is further
expected to witness CAGR of 10.7 during the
forecast period 2018 2024. GIS (Geographic
Information System) is a system that is
extensively being utilized as a decision making
as well as problem-solving procedures along with
the ability to visualize data in a spatial
structure. These systems are also being adopted
to estimate the density of structures in a given
area, the activity occurring in nearby locations
and to recognize the pattern of change in a
particular area. Moreover, the GIS system is
further facilitating the business enterprises to
perform the task in an effective manner. The
escalating number of SaaS based cloud computing
systems along with an extensive number of users
for mobile devices are the major factors that are
pertaining to the growth of the GIS market.
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Geographic Information System (GIS) Market
Growth Drivers
The GIS market on the basis of the component is
segmented into software, hardware, and services.
Among all the components, the software segment
holds the largest share and is expected to
witness a CAGR of 9.2 during the forecast
period. It has been observed that software-based
GIS is extensively being utilized in spatial
database management systems, data analysis,
digital mapping and data processing. The GIS
market on the basis of the component is segmented
into software, hardware, and services. Among all
the components, the software segment holds the
largest share and is expected to witness a CAGR
of 9.2 during the forecast period. It has been
observed that software-based GIS is extensively
being utilized in spatial database management
systems, data analysis, digital mapping and data
processing.
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Geographic Information System (GIS) Market
Geographic Overview
Geographically, Asia-Pacific is expected to
witness the fastest growth of 11.9 during the
forecast period. The increasing investments
undertaken by the government authorities in this
region and the implementation of several economic
reforms are expected to bolster the growth of GIS
industry in this region. GIS technologies in this
region are extensively being employed for rural
and agricultural progression. Furthermore,
implementation of GIS system in various countries
such as India and China are expected to further
fuel the growth of the Asia-Pacific market during
the forecast period. Explore Full Report
Description At https//www.vynzresearch.com/ict-m
edia/geographic-information-system-gis-market
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Geographic Information System (GIS) Market
Competitive Insight
Globally industry players are leveraging market
growth through extensive application of GIS in
various fields. Some of the major players
operating in the global GIS market include
Environmental Systems Research Institute Inc.
(Esri), MacDonald and Company, Pitney Bowes Inc.,
Dettwiler and Associates Ltd., PASCO CORPORATION,
SuperMap Software Co. Ltd., Ubisense Group Plc.,
Bentley Systems Incorporated, Schneider Electric
SE and Autodesk Inc.
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Geographic Information System (GIS) Market
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