Advances in Geomedicine Signal Opportunity for Geospatial Solution Market Players, Says FMI

Dec 03,2019 | Electronics, Semiconductors, and ICT

Faster networking is catering to the ever-growing demand for efficient geospatial information distribution and transmission. This, in turn, enables consumers and governments to more effectively use and share spatio-temporal data for real-time applications, thereby propelling geospatial solution market growth.

As indicated by a new research intelligence study of Future Market Insights (FMI), the global geospatial solution market will witness stupendous growth at a CAGR of nearly 15% during the forecast period of 2019 to 2029. This strong growth outlook of the global geospatial solution market has been attributed to the advancements in computing capacity for geospatial solution-based research and applications.

Key Takeaways - Geospatial Solution Market Study

  • Developers are offering geomedicine solutions, which is not an emerging field, yet holds a lot of potential to boost the growth of geospatial solution market during the following years.
  • Blockchain technology is estimated to witness massive adoption in the foreseeable future. This technology can be geospatially enriched when combined with geospatial solution-based technologies such as Geographic Information System (GIS).
  • Drones are estimated to witness a considerable adoption rate during the forecast period. New standards and legislations introduced by national governments are likely to motivate drone manufacturers and end users to operate more freely, thus driving the growth of the geospatial solution market.
  • Global Positioning System (GPS) is estimated to retain a substantial revenue share in geospatial solution market.
  • Remote sensing technology will register a significant CAGR over the projection period.

High performance cloud computing services, such as cloud GIS and computing networks including CyberGIS are providing national governments with tools with which they can easily access and contribute to the growing repositories of geospatial solutions, tools, services and data.

geospatial solution market share by region 2018 a

Geospatial Information Becoming Critical Asset for Businesses

Conventionally, geospatial technology was confined to use in aeronautical and maritime organizations, intelligence agencies, and the military sector. However, the demand for geospatial solutions is rising from almost every end-use industry. Geospatial solutions have become an essential element in how organizations operate their business. At present, organizational decision making is highly dependent on data processing technologies. Thus, organizations are prioritizing geospatial data analysis as they recognize collected geospatial information as a mission critical resource to manage.

For More Detailed Insights on Geospatial Solution Market Prospects

A constant search for new information tools, sources, experts, and solutions drives end-users to persistently find new and innovative ways to utilize data and discover patterns in the accumulated information using geospatial solutions. One of the most noteworthy growth areas in the broad data processing arena is data visualization. Existing end users have found geospatial solutions to be the key to efficient data visualization, irrespective of whether the accumulated information is two or three dimensional. Therefore, the geospatial solutions market is estimated to be highly attractive during the forecast period.

Know More About Geospatial Solution Market Study

Future Market Insights puts forward an unbiased analysis of the global market for global geospatial solution market, providing historical data for 2014 - 2018 and forecast statistics from 2019 - 2029. To understand opportunities in the geospatial solution market, the market is segmented on the basis of technology, component, application, and end-user, across seven major regions.

For additional information, write to the analyst at [email protected]

About Electronics, Semiconductors, and ICT division of FMI

The electronic, semiconductors, and ICT division at Future Market Insights focuses on tracking and analyzing ever-changing dynamics of the IT and telecommunication industry. The ICT team has also executed several complex projects pertaining to the convergence of healthcare and ICT, rapid adoption of ‘as-a-service’ business model, growth prospects of consumer electronics market, and evolution in design and fabrication of semiconductors. To help clients from all over the globe meet their unique needs, the team offers a variety of customized market research reports and consulting services: reach out to explore how we can help.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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