Geographic information systems (GIS) are software designed to capture, manage, and relay geospatial data. Instance of these systems were present in the form of Google Maps and Earth. Development in intelligent transportation systems and construction of smart cities induced the demand for GIS in order to provide accurate data for astute planning. Additional benefits of GIS systems include prevention of accidents on highways and integration in pedestrian warning systems to save lives.
Accumulation of Spatial Data
Major application segments of GIS include aerospace & defense, oil & gas, mining & geology, government, construction, agriculture, utilities, and transport and logistics. The construction segment is expected to exhibit a CAGR of 11.2 % during the forecast period (from 2018 to 2025) due to extensive usage of GIS in urban planning and development. Development of smart cities by economies such as India and China is likely to spur segment growth in the forthcoming years. Vital information regarding accurate location of schools, farms, and storm drains, which can prevent possibility of poor construction can also bode well for the segment .
The transport and logistics segment is expected to display a healthy growth rate from 2018 to 2025 due to geospatial analysis in construction of roads. For instance, GIS developed by ESRI, a U.K.-based company, has been used in the Bay Area Rapid Transit (BART) to ensure safe passage for nearly 450,000 citizens. A smartphone application displays last-minute information regarding traffic speeds and travel options with the help of CCTV cameras and construction activity from the California Department of Transportation.
Market Outlook
The geographic information system (GIS) market is anticipated to reach a valuation of USD 11.2 billion by 2025, according to a report by Grand View Research, Inc. Growing scope of application of GIS in urban planning and infrastructure development can drive the market demand over the forecast period. Integration of technologies such as Light Detection and Ranging (LiDAR) and Cloud in GIS software is also likely to influence market expansion. Emergence of Internet of Things (IoT) devices and utilization of GIS to capture geospatial features of the planet can open new avenues for the market development. Key players include Hexagon AB; Pitney Bowes Inc.; Autodesk Inc.; and ESRI Holdings Limited.
In-Depth research report on geographic information system (GIS) market
https://www.grandviewresearch.com/industry-analysis/geographic-information-systems-market
In-Depth research report on geographic information system (GIS) market
https://www.grandviewresearch.com/industry-analysis/geographic-information-systems-market
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