Geographic Information System Market :: Applications, Technology Trends, Growth Drivers and Challenges

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Global Geographic Information System (GIS) Market
to Witness 10.1 CAGR During 2017 2023
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Global Geographic Information System (GIS) Market
According to a new market research report Global
Geographic Information System (GIS) Market Size,
Share, Development, Growth and Demand Forecast to
2023 - Industry Insights by Component (Software,
Services and Hardware), by Project Size (Medium,
Small and Large) and by Application Areas
(Government, Water and Wastewater Management,
Telecommunications, Engineering and Business
Services, Aerospace Defense, Oil and Gas
Refineries, Oil and Gas Exploration,
Transportation Logistics, Healthcare and
Others) published by PS Market Research, the
global GIS market is projected to grow at a CAGR
of 10.1, during 2017 2023. Browse Report
Description at https//www.psmarketresearch.com/m
arket-analysis/geographic-information-system-marke
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Global Geographic Information System (GIS) Market
Global GIS market to register double digit growth
during 2017- 2023
The global GIS market is expected to increase
from 8,985.5 million in 2016, to reach 17,510.9
million by 2023, growing at a CAGR of 10.1
during 2017 2023. Among the various application
areas, government sector has been the largest
contributor to the global GIS market, accounting
for over 28 of the global revenue in 2016.
Increasing urbanization, in addition to the
surging adoption of enterprise GIS in developing
countries is expected to bolster the demand for
geographic information system during the forecast
period. During the recent years, demand for 3D
based GIS has increased, owing to the development
of smart cities in China, India, and other South
East Asian countries, majorly for building
surveillance application. According to
Environmental Systems Research Institute (Esri),
the adoption of 3D based urban mapping is
witnessing rapid growth, owing to the adoption of
3D mapping in smart cities. The modern GIS maps
are developed in a way that new data can be
added, as becomes available, and hence the
transition from 2D based maps to 3D maps is
gaining pace. The real estate companies utilize
3D based information to leverage marketing
opportunities, as providing line of sight
visualization in any direction from any location
in a building, which is further giving
competitive advantage to the real estate
developers.
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Global Geographic Information System (GIS) Market
Insights on market segments
Based on our analysis, medium and small size
projects (valued less than 1million) together
accounted over 75 of the global GIS market in
2016. The market for medium size projects
(ranging from 250,000 to 1 million) is expected
to register the fastest growth during the
forecast period.
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Global Geographic Information System (GIS) Market
Increasing investment in GIS based infrastructure
pushing GIS revenues
The global GIS market is witnessing increasing
investment by the governments for application in
homeland security, and military and aerospace
sector. Over the years, several GIS vendors have
also come up with innovative products to suit the
requirements of the governments in developing
countries. Recently, the Government of India
started Digital India initiative, where the
government along with the private sector
companies is expected to invest heavily in
improving internet connectivity and location
based services infrastructure across the country,
during in the next five to six years. The country
is also expected to develop a GIS based data for
land records, land management and ownership
details in the country. The Government of India
has included National GIS Vision in its 12th
five-year plan (2012 2017), under which the
government is expected to explore the potential
untapped opportunities for GIS implementation.
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Global Geographic Information System (GIS) Market
In the U.S., ESRI and the federal government runs
a GIS program, which provides GIS software and
services for employees of the U.S. federal
government, including U.S. Environmental
Protection Agency, U.S. Census Bureau, U.S.
Department of the Interior, and U.S. Department
of Agriculture. The Chinese government introduced
a national street-level mapping project for
routing vehicles in mainland China. The cost of
GIS implementation has also reduced marginally
over the last few years, which is expected to
boost the market in cost sensitive developing
countries, during the forecast period.
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Global Geographic Information System (GIS) Market
Increasing demand of 3D GIS for urban development
The 3D based virtual reality geographic
information systems (VRGIS) have been getting
popular in city planning and urban development in
developing countries. The three-dimensional
geographic information system facilitates an
improved and detail insight into the complex
database of GIS. Moreover, the advanced
projection based displays enable urban planners
to design 3D based virtual models. Many 3D based
GIS applications, such as storm water run-off
studies and building surveillance, are
experiencing high penetration in developed
countries. According to Environmental Systems
Research Institute Inc. (ESRI), 3D based urban
mapping is witnessing rapid growth owing to the
conversion of 2D to 3D mapping of smart cities.
The modern GIS maps are constructed in a way that
new data can be added as it becomes available,
and hence the transition from 2D based map to 3D
map is gaining pace. Apart from the urban
planning, the 3D based GIS market is also
witnessing fast growth in flood modeling,
transportation, and census. Real estate companies
utilize 3D base information to leverage marketing
opportunity, by providing line of sight
visualization in any direction from any location
in a building thus, offering competitive
advantage to the real estate developers.
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Global Geographic Information System (GIS) Market
Asia-Pacific to register the fastest growth
during the forecast period
Asia-Pacific is expected to be the fastest
growing GIS market during the forecast period,
owing to the increasing penetration of GIS
solutions in sectors such as utility, government,
and water and waste water, in developing
countries of the region, including India and
China. The upsurge in urbanization along with
investment in smart cities in the region is
expected to bolster the demand for GIS solutions
in the coming years.
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Global Geographic Information System (GIS) Market
Key Market Players
Some of the major companies operating in the
global geographic information system (GIS) market
include Environmental Systems Research Institute
Inc. (Esri), Pitney Bowes Inc., MacDonald,
Dettwiler and Associates Ltd., SuperMap Software
Co. Ltd., PASCO CORPORATION, Ubisense Group Plc.,
Bentley Systems Incorporated, Schneider Electric
SE, and Autodesk Inc.
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Global Geographic Information System (GIS) Market
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