Geographic Information System (GIS) Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast


Posted February 27, 2020 by devanshuraizada

The global GIS market is expected to grow with a CAGR of 10.2% in the coming years.
 
The Office of Information Management and Technology in Hawaii (the U.S.) offers a 3D geographic information system (GIS) map, which covers 19,500 measured buildings of Honolulu, as a part of its open data program. Likewise, other countries, such as China and India with new and proposed smart cities, are predicted to adopt 3D-based virtual reality geographic information systems (VRGIS). Since 3D GIS is an extension of GIS, it becomes important to get acquainted with the basic term.

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A GIS is a system that is designed to store, capture, manipulate, manage, analyze, and present all sorts of geographical data. The data captured can be used for mapping of specific places, mapping quantities, densities, and changes related to that place, and finding what is nearby or inside a place. These systems have gained immense popularity in urban development and city planning in emerging countries, as they provide detailed and improved insight. Modern maps are developed keeping in mind the easy accommodation of new data as it becomes available, which is leading to the increasing adoption of 3D GIS maps.

As per Environmental Systems Research Institute Inc., due to the shift from 2D mapping of smart cities to the 3D model, 3D-based urban planning is growing rapidly. In 2017, the global GIS market reached $9,835.5 million, and it is expected to grow with a CAGR of 10.2% in the coming years. The system finds application in several areas, such as oil & gas exploration and refining, aerospace & defense, government, engineering & business services, healthcare, telecommunications, transportation & logistics, and water & wastewater.

In the coming years, the adoption of GIS is predicted to be steady in the telecommunication sector due to the growth in wireless communication infrastructure in Middle East and Africa. The government sector has been and is projected to be the largest user of the GIS technology; the sector is investing heavily in GIS. Such solutions are used by the government for application in military, aerospace, and homeland security.

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For instance, for routing vehicles in mainland China, the Chinese government introduced a national street-level mapping project. Similarly, due to the initiation of the Digital India Initiative, the central government and private sector companies are predicted to invest in improving the location-based services infrastructure and internet connectivity across the country. India is also projected to develop GIS-based data for land management, land records, and ownership details. Initiatives such as these have compelled GIS vendors to come up with innovative products that meet the needs of users, especially in developing countries.
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Issued By Devanshu Shrivastava
Country United States
Categories Business
Tags geographic information system market , geographic information system market analysis , geographic information system market drivers , geographic information system market growth , geographic information system market outlook , geographic information system market share , geographic information system market size , geographic information system market trends
Last Updated February 27, 2020