The global automotive geospatial anlytics market was valued over USD 40 billion in 2019 and is projected to surpass USD 86 billion by 2026, at a CAGR of greater than 16%. The growth of this market is expected to be driven by the rising adoption of various technologies among people.
Geospatial analytics is the assortment, display and adjusting of pictures, GPS, satellite photography and recorded insights, portray explicitly as far as address, code or timberland stand symbol and geographic directions as these are applied to geographic models. It comprises of a few applications, for example, catastrophe management, environmental change modelling, climate observing, sales investigation, animal population administration, and human population gauging. Get Free Sample Before Purchasing
Market Trends, Drivers, Restraints, and Opportunities:
- Rising use of GPS gadgets and technological development in geographic information system (GIS) field is driving the growth of the market.
- Increasing adoption of Internet of Things (IoT) such as connected cars in geospatial technology is acting as a favourable factor driving the market growth.
- Rising cost of implementation of solutions based on geospatial analytics is acting as a restraint for the growth of the market.
- Adherence to regulations and legitimate issues is a restraint in the market growth.
- The unexplored markets of emerging economies and the use of latest technologies are opportunities for the growth of the market.
Scope of the Report
The report on the global automotive geospatial analytics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. Attributes
Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Global Automotive Geospatial Analytics Market Segment Insights:
Based on components, the market is divided into software & solutions and services. The software & solutions segment has the biggest segment in 2019 and is expected to witness the fastest growth with a substantial CAGR in forecast period due to its adoption in enterprises to mainly acquire business intelligence based on location informed decision making purposes. In terms of product types, the market is fragmented into surface & field analytics, network & location analytics, geovisualisation, and others. The aluminum segment has biggest share of the overall market in 2019 and is anticipated to witness the fastest CAGR during the forecast period attributable to increasing adoption of solutions based on surface & field analytics in various industries, thereby enhancing strategic decisions. These analytics are mainly utilized by infrastructure development to determine the water flow on the surface of earth, which is used to design systems for drainage and in the agricultural sector to understand soil erosion. By applications, the market is segmented into surveying, medicine & public safety, disaster risk reduction & management, climate change adaptation, and others. The climate adaption segment has the biggest share is expected to dominate the global market because it helps to understand how change in climate have impacted human lives. This also improves productivity which enables authorities to take informed decisions. In terms of verticals, the market is divided into business, automotive, utility & communication, government, defense & intelligence, natural resource, and others. The defense & intelligence segment has the largest market share of more than 50%. However, the automotive segment is expected to witness the highest CAGR during the forecast period due to increasing research & developments happening in connected cars coupled with growing number of population. On the basis of regions, the market is segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. North America has the biggest regional market in 2019 and will extend further at a moderate CAGR from 2020 to 2026 due to its developed technological infrastructure services. However Asia Pacific is expected to witness the fastest CAGR during the forecast period because of rising disposable income, growing penetration of internet, and increasing number of industries in the region.
Some of the other key players operating in the market include Esri, Pitney Bowes Inc., Oracle, SAP SE, ALTERYX, INC., Hexagon AB, DigitalGlobe, Trimble Inc., MAXAR TECHNOLOGIES, MapLarge, Harris Corporation, BENTLEY SYSTEMS INCORPORATED, General Electric Company, Alphabet Inc., RMSI, Fugro, AAM Pty Ltd, TomTom International BV., Critigen, Orbital Insights, Autodesk Inc, Descartes Labs, Zillion Info, Geospin, MapIdea and others. The major market players gain edge in the market by activities of mergers & acquisitions and investing in research & development to offer various product offerings.
- In July 2019, Inpixon a main indoor situating and information investigation organization gained Indoor Mapping Leader Jibestream a chief provider of indoor mapping and position innovation. The Jibe stream's mapping capacities and advances is a urgent and inventive advance for Inpixon to turn into a worldwide pioneer for indoor information.
- In February 2019, Hexagon AB, an overall chief in computerized arrangements announced the language of partner degree consent to gather Thermopylae Sciences and Technology, a product supplier, fundamentally moved in U.S. government and guard showcase that centers on geospatial applications, versatile structures and distributed computing for expanded area insight. Thermopylae has developed propelled representation answers for direct strategic edge mapping on the side of errand significant tasks.
- In February 2018, Esri discharged ArcGIS Enterprise 10.6, the most recent rendition of this full-highlighted mapping and examination stage. The organization additionally propelled refreshes for Insights for ArcGIS, ArcGIS Business Analyst, ArcGIS Image Analyst, and different items.
- In February 2018, Esri obtained ClearTerra (US), an innovator in geospatial and movement based insight devices. This securing will give ArcGIS stage clients the capacity to effortlessly find and concentrate geographic directions from unstructured printed information, for example, messages, briefings, and reports, quickly creating insightful guide based data.
- In February 2018, Alexa communicated with Mapbox HD Maps for a problem free driving experience.
- February 2018, Daimler, BMW, and HERE Technologies have banded together to make "HERE HD Live Map a vital piece of the two automakers' self-ruling driving advancesIn February 2019, Airbus SE reported that it was hoping to do the conveyance of 890 business airplane in 2019 when contrasted with 800 out of 2018.
- In October 2018, Zodiac aerospace signed up an agreement to merge with Safran group.
The global automotive geospatial analytics market has been segmented on the basis of
- Software & Solutions
- Surface & Field Analytics
- Network & Location Analytics
- Medicine & Public Safety
- Disaster Risk Reduction & Management
- Climate Change Adaptation
- Utility & Communication
- Defense & Intelligence
- Natural Resource
- Asia Pacific
- North America
- Latin America
- Middle East & Africa