Geospatial Solutions Global Market Opportunities and Strategies to 2033

This report describes and explains the geospatial solutions market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global geospatial solutions market reached a value of nearly $512.6 billion in 2023, having grown at a compound annual growth rate (CAGR) of 13.7% since 2018. The market is expected to grow from $512.6 billion in 2023 to $992.6 billion in 2028 at a rate of 14.1%. The market is then expected to grow at a CAGR of 16.4% from 2028 and reach $2.12 trillion in 2033.

Growth in the historic period resulted from the rapid urbanization, expansion of IoT (internet of things), growing adoption of artificial intelligence and rise in demand for cloud services. Factors that negatively affected growth in the historic period included high cost of implementation.

Going forward, the growing 5G technology, growing transportation industry, strong economic growth in emerging markets and increasing government initiatives will drive the market. Factors that could hinder the growth of the geospatial solutions market in the future include stringent regulations.

The geospatial solutions market is segmented by solution type into hardware, software and service. The software market was the largest segment of the geospatial solutions market segmented by solution type, accounting for 50.2% or $257.1 billion of the total in 2023. Going forward, the software segment is expected to be the fastest growing segment in the geospatial solutions market segmented by solution type, at a CAGR of 14.1% during 2023-2028.

The geospatial solutions market is segmented by technology into earth observation, scanning, geospatial analytics and GNSS and positioning. The GNSS and positioning market was the largest segment of the geospatial solutions market segmented by technology, accounting for 55% or $281.9 billion of the total in 2023. Going forward, the geospatial analytics segment is expected to be the fastest growing segment in the geospatial solutions market segmented by technology, at a CAGR of 15.6% during 2023-2028.

The geospatial solutions market is segmented by application into surveying and mapping, geovisualization, planning and analysis, land management and other applications. The surveying and mapping market was the largest segment of the geospatial solutions market segmented by application, accounting for 31.3% or $160.2 billion of the total in 2023. Going forward, the geovisualization segment is expected to be the fastest growing segment in the geospatial solutions market segmented by application, at a CAGR of 15.7% during 2023-2028.

The geospatial solutions market is segmented by end-user into energy and utilities, business, transportation, defense and intelligence, infrastructural development and urban development and other end-users. The infrastructural development and urban development market was the largest segment of the geospatial solutions market segmented by end-user, accounting for 28.9% or $147.9 billion of the total in 2023. Going forward, the business segment is expected to be the fastest growing segment in the geospatial solutions market segmented by end-user, at a CAGR of 16.3% during 2023-2028.

North America was the largest region in the geospatial solutions market, accounting for 35.9% or $184.1 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the geospatial solutions market will be Asia-Pacific and South America, where growth will be at CAGRs of 17.5% and 16.7% respectively. These will be followed by Eastern Europe and Africa, where the markets are expected to grow at CAGRs of 16.2% and 16.1% respectively.

The global geospatial solutions market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 9.98% of the total market in 2022. Alphabet Inc. was the largest competitor with a 3.13% share of the market, followed by Apple Inc. with 2.62%, Amazon Inc. with 2.27%, The International Business Machines Corporation with 0.40%, Uber Technologies Inc. with 0.28%, Oracle Corporation with 0.28%, Baidu inc. with 0.27%, General Electric Company with 0.25%, SAP SE with 0.25% and Harris Corporation with 0.23%.

The top opportunities in the geospatial solutions market segmented by solution type will arise in the software segment, which will gain $241 billion of global annual sales by 2028. The top opportunities in the geospatial solutions market segmented by technology will arise in the GNSS & positioning segment, which will gain $275.7 billion of global annual sales by 2028. The top opportunities in the geospatial solutions market segmented by application will arise in the surveying and mapping segment, which will gain $154.1 billion of global annual sales by 2028. The top opportunities in the geospatial solutions market segmented by end-user will arise in the infrastructural development and urban development segment, which will gain $143.9 billion of global annual sales by 2028. The geospatial solutions market size will gain the most in the USA at $124.1 billion.

Market-trend-based strategies for the geospatial solutions market include focus on innovative technological solutions, increased focus on the use of AI in geospatial solutions, innovative land cover mapping solutions, innovative geospatial platforms to bridge industry skill gap and strategic partnerships and collaborations among market players.

Player-adopted strategies in the geospatial solutions market include focus on strengthening business capabilities through development of new platforms, enhancing business operations through new product developments and strengthening position in the global market through strategic partnerships.

To take advantage of the opportunities, the analyst recommends the geospatial solutions companies to focus on developing high-accuracy GNSS solutions, focus on developing geospatial AI technologies, focus on developing geospatial AI technologies, focus on developing land cover map solutions, focus on developing innovative geospatial platforms, focus on services market segment, focus on GNSS & positioning segment, focus on strategic partnerships, expand in emerging markets, continue to focus on developed markets, focus on competitive pricing strategies, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, focus on infrastructural development and urban development segment and focus on planning and analysis segment.