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Geospatial Analytics Market’s Opportunities and Challenges

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Geospatial Analytics Market’s Opportunities and Challenges

November 07
09:36 2019
Geospatial Analytics Market’s Opportunities and Challenges

Alteryx (US), DigitalGlobe (US), Fugro N.V. (Netherlands), Hexagon (Sweden), RMSI (India), SAP (Germany), Trimble Navigation(US), Maxar Technologies (Canada), MapLarge (US), Harris Corporation (US), Bentley Systems (US), ESRI (US), General Electric (US), Pitney Bowes (US), Oracle (US), and Google (US)
Geospatial Analytics Market by Component (Software & Solution, Service), Type (Surface & Field Analytics, Network & Location Analytics, Geovisualization), Application (Surveying, Medicine & Public Safety), Vertical, and Region – Global Forecast to 2023

The Geospatial Analytics Market size was USD 35.31 billion in 2017 and is projected to register USD a CAGR of 16.3% between 2018 and 2023.

Is the development of 4D GIS software creating an opportunity for the geospatial analytics market growth?

Geospatial technologies are being increasingly used to incorporate not only spatial geographic data but also to analyze and visualize space across time. 4D GIS data includes 2D data, 3D data, and time change data. An integrated database with real-time monitoring is required to generate 4D data. 4D GIS is used to integrate, manage, and analyze spatial information and non-spatial information collected from various data sources. 4D GIS is gaining popularity in areas where GIS is needed for predicting dimensions across time. For example, infrastructure monitoring personnel need to analyze where and when vulnerabilities may arise in infrastructure. These aspects have made 4D GIS increasingly essential as a real-time forecasting tool to monitor and predict future events. GIS vendors are focusing on the development of 4D GIS software. Companies have started providing support for 4D data. For instance, 4DMapper is a company based in Australia that puts multisource and multiformat geospatial data, including 3D and 4D GIS, on the cloud and streams it to web browsers.

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Would the complexities involved in integration of geospatial data with enterprise solutions challenge the geospatial analytics market growth?

Organizations are facing challenges in integrating geospatial analytics data with enterprise solutions such as ERP, CRM, BPM, among others. The data collected from geospatial sources is heterogonous/unstructured (images, videos, signals, location-based data) and needs to be processed to make it compatible with existing databases. The major challenge while integrating geospatial data with enterprise solutions is synchronizing both systems at an optimal interval and adopting workflows that are understandable to both systems. In addition to analytical and operational aspects, organizational factors can also greatly influence many data integration decisions. For example, many governmental organizations have policies, procedures, and protocols that direct how internal and external data and systems can be accessed or integrated. These might include standard operating procedures, change control steps, security protocols, quality assurance measures, and other administrative requirements.

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Major players operating in the geospatial analytics market include Alteryx (US), DigitalGlobe (US), Fugro N.V. (Netherlands), Hexagon (Sweden), RMSI (India), SAP (Germany), Trimble Navigation (US), Maxar Technologies (Canada), MapLarge (US), Harris Corporation (US), Bentley Systems (US), ESRI (US), General Electric (US), Pitney Bowes (US), Oracle (US), and Google (US). These players have adopted strategies such as new product launches, partnerships, collaborations, and acquisitions to strengthen their product portfolios and enhance their presence in the geospatial analytics market.

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