Geospatial Analytics Artificial Intelligence Market Estimated to Reach $172 Million by 2026

Geospatial Analytics Artificial Intelligence Market | IndustryARC
Rise in Internet Penetration Driving the Growth of Geospatial Analytics Artificial Intelligence Market.

The Global Geospatial Analytics Artificial Intelligence Market is estimated to reach $172 million by 2026, growing at a CAGR of 30.0% from 2021 to 2026. Geospatial Analytics Artificial Intelligence generally called geospatial AI, GEOINT (geospatial intelligence) is the intersection of artificial intelligence and geospatial data. It collects and provides the geographical data for numerous geographical applications like weather centers, national labs and other agencies that specifically relay on these data for running their business. Owing to the use of geospatial AI real-time, feedback can be given nowadays related to the surroundings for instance traffic congestion and many others with the help of just simple smartphone applications. The availability of massive computational power, advancement in the field of artificial intelligence predominantly machine learning and deep learning along with increased availability of geospatial data from satellites are driving the growth of the market.

Geospatial Analytics AI Market Segment Analysis – By Deployment

By Deployment Geospatial Analytics Artificial Intelligence Market is segmented as Cloud and On- Premises. The Cloud based deployment is witnessing significant growth in the market at 38.9% CAGR through 2026. The Web GIS is widely being adopted and used as it is significantly easier to use, deploy and integrate than on-premises GIS. In recent years the use of smart phones have made the integration of geographical information much easier. The smart phone mobile apps traces location and routing, spatial analytics, smart mapping, field data collection and others which is only possible through the web geospatial AI. The real time geographical data used by devices for instance smart phones, vehicle sensors, imaging sensors on drones are majorly extracted from the cloud. These factors are fueling the growth of the market.

Geospatial Analytics AI Market Segment Analysis – By Geospatial Data Model

By Geospatial Data Type the market is segmented into Raster Data and Vector Data. Vector Data Model is witnessing a significant growth in the market at 33.3% CAGR through 2026. Points and line segments are used by the vector data model to identify the locations on the Earth. The vector data comprises verticals and paths owing to which the end users find it much easier to find the data. The vector data model consist of points, lines and polygons owing to which the cartographers find these symbols to represent real world features in the maps. These factors are driving the growth of the market.

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Geospatial Analytics AI Market Segment Analysis – By Geography

The Global Geospatial Analytics Artificial Intelligence Market is dominated by APAC with a market share of 36.9% in 2020. The expanding usage of geospatial analytics AI tools, growth in internet penetration, rise in the developing industrial sectors and growth in infrastructural developments are boosting the growth of the market. The growth of cellular networks and real time communication for various applications for instance wireless broadband, mobile applications, GPS tracking and others are also driving the growth of the market in this region. Furthermore, ride sharing companies, Ola, Lyft, Uber and many others are also using it widely for the purpose of taking feedback from the customers and process the data to find out the density of cars and check the availability of drivers for ride. These factors are boosting the growth of the market.

Geospatial Analytics AI Market Drivers

Rise in the growth of geospatial analytics artificial intelligence due to its use in various applications:

One of the driving factors for upsurge of geospatial analytics intelligence tools are their versatile applications. In the communication from homes to workplaces and workplaces to home almost every day, the biggest problem is traffic congestion. The problem of traffic congestion is easily solved by the use of GIS application. It is adopted in most of the enterprises as it helps in real time data integration. The geospatial AI applications helps enterprises to improvise planning, resource allocation, decision making, multiplying supply chain efficiency, optimizing service delivery and other applications. The UAVs are used for variety of applications like inspection, mapping, surveillance, aerial videos and many other applications. All these applications of drones and UAVs are monitored through the use of geospatial analytics artificial intelligence. These factors are driving the growth of the market.

Rise in internet penetration:

The rise in internet penetration has enhanced the use of Geospatial AI solutions through, cloud based deployment and on-premises deployment. It is due to the high speed internet that real time monitoring of devices is possible nowadays through which communication is also possible. The geospatial AI applications are used in real time diagnosis of patients through wireless broadband. All this is possible owing to the presence of internet. The patient receives first aid through the consultation of doctors’ on-route to the hospital. The ambulances are installed with wireless connectivity which runs through the availability of high speed internet. Furthermore, the national labs are using these geospatial AI for managing the chaos of natural disasters, improvement of crisis mapping, weather condition predictions as it allows real time monitoring of all the geographical information. All these applications are possible owing to the presence of high speed internet in almost all the locations around the globe nowadays. These factors are driving the growth of the market.

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Geospatial Analytics AI Market Challenges

Cost related challenges:

Although the geospatial analytics artificial intelligence have many advantages owing to which these are used in various of applications such as natural resource management, coastal, marketing and others but the geospatial analytics artificial intelligence solutions are very costly. Owing to the high price of installation many small enterprises are unable to use these solutions. These factors are hindering the growth of the market.

Geospatial Analytics AI Market Landscape

Geospatial Analytics Artificial Intelligence Market is dominated by major companies such as Google Inc, Microsoft Corporation, Bentley Sytems, Harris Corporation, ESRI, Trimble Inc, Digital Globe, Geoblink, HEXAGON among others.

Acquisitions/Technology Launches

July 13, 2020- LuxCarta introduced its new product line named BrightEarth. BrightEarth uses artificial intelligence algorithms and these are a series of global geospatial product. This product line is delivered in the cloud as it is developed in the cloud.December 23, 2020- Astraea, Inc. launched EarthAI Notebook. It analyzes roster data at scale and analyzes geospatial data.

Key Takeaways

The rise in adoption of Geospatial Analytics Artificial Intelligence tools owing to their wide range of applications like monitoring of real time geographical data, traffic congestions, spatial analytics and others are driving the growth of the market.Β 

The cloud deployment is dominating the market as the data integration can be done efficiently in the cloud with less complexity along with upsurge in use of cloud networks globally.

The APAC region is witnessing a significant growth in the market owing to the wide use of this solutions in the variousΒ  enterprises.

Related Report:

Cloud GIS Market

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