A number of factors, such as the mounting investments being made by governments in the geographic information system (GIS) technology, increasing availability of spatial data and the cloud technology, and rising use of these solutions in enterprises are projected to drive the geographic information system market at a robust CAGR of 12.1% during the forecast period (2020–2030).

According to P&S Intelligence, the market revenue stood at $7.5 billion in 2019, and it will reach $25.6 billion by 2030. The growing usage of spatial data and the cloud technology is one of the key contributors to the market growth globally. The surging use of geospatial information has resulted in the wide adoption of GIS solutions across new application areas, such as advertisement and marketing.

Furthermore, the rising penetration of mobile devices and increasing advancements in data capturing technologies, such as software-as-a-service (SaaS)-based model, will drive the demand for the GIS technology worldwide. Globally, North America accounted for the largest share in the geographic information system market during the historical period (2014–2019) due to the presence of developed infrastructure and large-scale adoption of advanced GIS mapping solutions to analyze terrain, gather intelligence, monitor possible terror activities, and manage battlefield operations.

Additionally, the increasing use of these solutions by government organizations and healthcare professionals is a key contributor to the market growth in the region. Whereas, the Asia-Pacific (APAC) geographic information system market is expected to witness the fastest growth throughout the forecast period, owing to the rising urbanization rate and burgeoning demand for these solutions from the government of developing countries, such as India and China.

In recent years, their governments have increasingly deployed the GIS technology in military organizations to improve infrastructure and homeland security. Therefore, the increasing utilization of the cloud technology and spatial data and surging government investments in GIS solutions are the primary growth drivers for the market.

Source: P&S Intelligence