Geospatial Solutions Market (2022-2029)

The surge in demand for GIS & asset mapping solutions, the growing proliferation of IoT and connected devices, and the high adoption of cloud computing are driving the growth of the geospatial solutions market. However, the data privacy concerns and high set-up and operating costs are notable restraints for market growth. The growing demand for mobile mapping systems and government initiatives to promote smart infrastructure are expected to offer significant growth opportunities for the players in this market. However, geospatial data integration challenges and the lack of a CORS network pose serious challenges to the growth of the geospatial solutions market.

The pandemic adversely impacted the global economy. Nationwide lockdowns and quarantine restrictions negatively affected multiple industries, including the geospatial solutions industry. Uncertainty regarding the duration of the lockdowns made it difficult for the key market players to anticipate the recovery of the geospatial solutions market. Many geospatial solution providers were under immense pressure. At present, economies are shifting their focus from responding to the pandemic to economic recovery. Hence, various growth opportunities are expected to emerge for the players operating in the geospatial solutions market due to the rising demand for GIS-enabled dashboards for managing the COVID-19 crisis.

Several GIS software and techniques were adopted to reduce person-to-person contact and for contact tracing. Organizations such as the World Health Organization (Switzerland) and other local and regional supervisory authorities implemented GIS-based solutions to deal with COVID-19. Some geospatial solutions providers implemented dashboards during the pandemic to provide COVID-19-related information. For instance, in 2021, Esri (U.S.) extended its partnership with MCH Strategic Data (U.S.) to provide a public dashboard highlighting daily COVID-19 Information at the school district level. Furthermore, the web-based near-real-time COVID dashboard created by Johns Hopkins University (U.S.) is the best illustration of GIS application during the pandemic. Such developments are helping to improve the demand for geospatial solutions.

Organizations are leveraging GIS & asset mapping solutions heavily. Industries such as electric, petrol, water and other energy utilities need mapping and geographic information systems (GIS) to plan infrastructure development before construction and track the existing infrastructure to provide reliable service, monitor assets, and make repairs. Hence, the rising need to map, track, and locate all the infrastructure is increasing the demand for mapping and GIS capabilities, promoting this market's growth.

Leading players operating in the global geospatial solutions market are exerting efforts to launch mapping and GIS solutions, fueling the market's growth. For instance, in 2019 , Trimble Inc. (U.S.) launched a high-performance field computer for its Mapping and Geographic Information Systems (GIS) portfolio—the Trimble TDC150 handheld. It is designed for GIS data collection, inspection, and management activities. Furthermore, in 2021 , Esri India launched Indo ArcGIS to address the need for ready-to-use GIS-based solutions and geospatial content for GIS users in India. Indo ArcGIS includes solution products for forest management, disaster management, electrical utilities, land records, and property tax management.

The growing demand to locate and monitor water and petrol pipelines, electric lines and other in-field network assets, the growing demand for hazardous location-certified devices, and the growing popularity of infrastructure and environmental asset mapping and condition assessment are the prominent factors increasing the demand for geospatial solutions.

Collective efforts by leading companies to launch GIS and mapping solutions are also supporting the growth of the geospatial solutions market.