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. 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.
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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.
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).
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).
GIS collectors held the largest share of the overall
market in 2016. GIS collectors are used for collecting data related to
shop floors or fields. Data collection is a real time and event-oriented
process carried out by construction professionals. GIS collectors
derive data manually from a computer or directly from the place of their
origin. The collectors allow construction professionals to carry out
accurate measurements such as site reconnaissance, progress measurement,
and site inspection. Moreover, collectors help in spatial analysis for
manipulating, extracting, locating, and analyzing the geographic data.
GIS collectors are widely adopted for capturing, storing, recovering,
analyzing, and displaying spatial data. GIS collector is expected to
dominate the market during the forecast period due to increasing demand
for data capturing and mapping in agriculture, construction, and
utilities.
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