Global Geographic Information System (GIS) Market is expected to grow at a significant CAGR in the upcoming years as the scope is increasing across the globe. Increasing demand of GIS, engineering applications can be attributed to the growing traditional GIS systems in the global market. With GIS it is possible to map, model, query, and analyze large quantities of data all held together within a single database.
A geospatial information system or (GIS) is a conventional tool that understands geographical or information. The systems digitalize the received geographical data, process (store, infer, analyze) the data, and deliver the required output to the consumers. Various Industries around the world are implementing GIS systems to obtain precise results and enhance their operations.
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The geographic information system (gis) market is anticipated to grow owing to the Increase in demand for process industries such as Petrochemicals, Oil and Gas, Steel & Metal, and Mining industry which consists of individual manufacturing units that need to be located and coordinated to continue smooth flow till the finished product. Portfolio optimization, site selection, and design & construction, is provided by GIS to maintain and operate the facilities.
The development of open source GIS software is projected to increase the demand for GIS engineering applications. Numerous systems are available which cover all sectors of geospatial data handling through cloud. Increasing demand for 3D GIS software can also be major factor since this software produces images in 3D format thereby allowing the end users to efficiently utilize the systems.
Increasing demand for electronic mapping systems is expected to drive the market growth in the foreseeable future. By implementing GIS in Utility infrastructure such as water, electricity, gas and telecommunication, outage time may be reduced leading to more efficient operation of the facilities. The exact location of Utility pipes or poles and distribution boxes can be mapped thereby helping the maintenance crew to identify and repair if any failures or outages are caused.
However, the lack of awareness about GIS technology in developing countries could affect the growth of the geographic information system (gis) market during the forecast period. Many end users are un aware of benefits that GIS system provides or the methods required to optimally use and leverage the technologies to increase their profits.
Growing infrastructure in developing economies such as Thailand, Korea, Croatia, Bulgaria is expected to increase in requirement for Civil engineering. The GIS is playing an important role in civil engineering companies since it provides the tools for managing, creating, visualizing and analyzing the data that is involved with managing and developing infrastructure. It helps governments and organizations to work together in developing strategies for a sustainable development and living. GIS allows civil engineers to manage and share data and turn it into easily understood reports and visualizations that can be analyzed and communicated to others, supporting all phases of the infrastructure life cycle.
Developments in satellite-based mapping is expected to see an exponential increase of geospatial information in the market. Many economies including U.S., Japan, France, china have launched individual satellites for their economic growth. These satellites produce large amount of geographical information. GIS engineering applications is expected to leverage the data which can be used across many industries.
The expensive nature of GIS technology is anticipated to be one of the major challenge hindering the market growth. The cost of installing software and maintenance are very high. However, rising economic trends among several developing nations is expected to help the market to grow at a higher rate.
Based on its end user type GIS engineering information system can be segmented into public sectors and government agencies. Public sector is further segregated into natural resources, utility and telecom. Utility segment is expected to be the largest end user segment. Financial, retail and transportation industries are also expected to witness fastest growth.
North America accounts for the largest market share in the global GIS engineering application market owing to increase in demand for monitoring trade transactions and enhancing internal security through GIS software. Asia pacific geographic information system (gis) market is expected to witness high growth rate on account of rapid development in infrastructure and planning of developing economies such China and India. Increasing manufacturing facilities may also be attributed to the growth in this region.
The key global players in the geographic information system (gis) market include Macdonald, Pitney Bowes Inc, Dettwiler, Esri Inc. and hexagon AB together sharing the major market. Other prominent industry participants are Autodesk Inc., Astrium (EADS Co.), Beijing Super Map Software Co. Ltd., AvisMap GIS Technologies, Bentley Systems Inc… The global geographic information system (gis) market is expected to be fragmented with several players trying to enter the market. GIS software market is anticipated to witness huge potential due to the rapid growing rate of the market.
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