The geographic information system (GIS) market is
expected to be worth USD 10.12 Billion by 2023, growing at a CAGR of
9.6% between 2017 and 2023.
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Development of smart cities and
urbanization, integration of geospatial technology with mainstream
technologies for business intelligence, and growing adoption of
geospatial solutions in transportation are some of the major factors
driving the growth of the market. The high cost of geospatial solutions
and geographic data collection barriers poses major restraining factors
for the growth of this market. The market has been segmented on the
basis of component, function, end user, and geography.
The increase in industrialization and urbanization
propels the growth of the market in construction. The growing
construction activities across the world has created a demand for
surveying devices such as robotic total stations, GIS collectors, and
GNNS-based receivers and antennas. Mapping and surveying functions are
the major application areas for construction activities. GIS databases
are widely used in the integration of geospatial data with CAD tools for
engineering and designing of construction projects.
Major players involved in the software market include
Autodesk, Inc. (US), Bentley System, Incorporated (US), Environmental
Systems Research Institute, Inc. (Esri) (US), General Electric Co. (US),
Hexagon AB (Sweden), Pitney Bowes Inc. (US), Topcon Corporation
(Japan), and Trimble Inc. (US).
APAC expected to grow at the highest rate between 2017 and 2023
APAC is expected to be the fastest-growing market for
GIS during the forecast period. In this region, geospatial technologies
are being utilized for rural and agricultural development over the last
decade. In APAC, companies engaged in engineering and construction,
mining and manufacturing, insurance, and agriculture are implementing
geospatial technologies to identify potential markets and are using
geospatial information to make strategic decisions. Surveying and
mapping technologies are widely used in APAC. In addition, the
development of smart cities in China, India, and other Southeast Asian
countries has driven demand for 3D GIS in this region.
The hardware market was dominated by key players such
as Hexagon AB (Sweden), Trimble Inc. (US), Topcon Corporation (Japan),
Hi-Target Surveying Instrument Co., Ltd. (China), and Beijing Unistrong
Science & Technology Co., Ltd. (China).
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