Geographic Information Systems (GIS) Market Trends, Key Players, Growth, Analysis and Forecast 2018 to 2024

Industry Overview
The global geographic information system (GIS) market is predicted to grow at 10.7% CAGR during the forecast period (2018–2024) with the market size reaching USD 12.7 billion by 2024. The driving factor for the growth of the market includes the increasing amalgamation of GIS system with traditional technology, the increasing demand for location based services such as control of a valve and real-time status, and increasing usage of GIS systems in the construction sector.
Market Segmentation

1) Insight by Component
Based on component, the GIS market is categorized into:

• Hardware
• Software
• Services

Of all, the software-based GIS segment holds the largest share in the global GIS market. Software-based GIS are extensively being used in spatial data analysis, spatial data processing, spatial database management systems, and digital mapping.

2) Insight by Project Size
On the basis of project size, the market is segmented into:
• Small
• Medium
• Large

Among these, medium size projects are the most commonly executed due to the involvement of governments in developing as well as development countries..
3) Insight by Application
Based on application, the market is segmented into:
• Water & wastewater
• Government
• Aerospace & defense
• Oil & gas exploration
• Engineering & business services
• Oil & gas refining
• Healthcare
• Transportation & logistics
• Telecommunications
• Others

Of all engineering and business services segment is expected to witness the fastest growth during the forecast period. Due to rapid growth in urbanization, it is expected to further enhance the developmental activities in the construction and infrastructure sector.

Explore Full Report Description At: https://www.vynzresearch.com/ict-media/geographic-information-system-gis-market

Industry Dynamics

1) Growth Drivers

Factors that have been acting as the driving factors for the growth of this industry are:
i. The increasing amalgamation of GIS system with traditional technology
ii. The increasing demand for location-based services such as control of a valve and real-time status
iii. The increasing usage of GIS systems in the construction sector

2) Challenges

Key factors hindering the growth of the GIS market are:
i. The initial high set up cost of GIS system
ii. Non-existence of authentic spatial data
3) Industry Ecosystem

Globally industry players are leveraging market growth through extensive application of GIS in various fields. Several key industry players are providing state-of-the-art software applications to its users that are further bolstering the growth of the GIS market.

Get Free Sample Report At: https://www.vynzresearch.com/ict-media/geographic-information-system-gis-market/request-sample

Geographic Overview
• North America — US, Canada, and Mexico
• Europe — U.K., Germany, France, Russia, and Rest of Europe
• Asia Pacific — China, India, Japan, and Rest of Asia-Pacific
• Rest of the World (RoW) — Brazil, Saudi Arabia and Others

Geographically, Asia-Pacific is expected to witness the fastest growth during the forecast period. The growth of this market in this region is attributed towards increasing implementation of the geospatial system by the business organizations in several sectors such as agriculture, mining and manufacturing, construction and insurance sectors that are enabling them to undertake informed decisions and identify potential strengths of their organization.

Competitive Insight

The Key players in global geographic information system (GIS) market are: Environmental Systems Research Institute Inc. (Esri), Macdonald & Company, Pitney Bowes Inc., Dettwiler and Associates Ltd., PASCO CORPORATION, SuperMap Software Co. Ltd., Ubisense Group Plc., Bentley Systems Incorporated, Schneider Electric SE and Autodesk Inc.
#Source VynZ Research

About VynZ Research :

VynZ Research is a global market intelligence company providing research reports, industry intelligence and business advisory services to companies and institutions across the globe. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as chemical and materials, automotive and transportation, energy and power, consumer goods, healthcare, ICT and other emerging technologies.

Contact
Kundan Kumar
Manager: Client Care
VynZ Research
Toll-Free:+919960288381
Website:https://www.vynzresearch.com

Email: support@vynzresearch.com

Connect With us: Linkedin | Twitter |Google | Facebook

This release was published on openPR.