The global geographic information system (GIS) market is anticipated to reach $1.2 billion by 2025. The rising adoption of GIS in infrastructure development, urban planning, and smart cities coupled with increasing location-based services are some of the key drivers of the global GIS market, said a report from ResearchAndMarket.
GIS is a computerized system that connects data with geography. Several decisions are taken using GIS, right from tracking a store location to predicting climate change and analyzing a crime pattern. GIS helps users to link the data with geographic location to gain spatial insights from the extracted data.
The growing integration of GIS with conventional technologies has enhanced the business intelligence of companies. Moreover, the integration of GIS with IoT devices provides accurate data to users using the geospatial data analysis. For instance, an IoT-enabled valve can be monitored from anywhere around the globe using geospatial data.
The demand for location-based services, such as real-time status and control of a valve, have been on a rising curve around the globe. The market for GIS is expected to grow over the forecast period owing to technological advancements and growing applications. Moreover, the growing awareness among private companies regarding benefits such as improved productivity and optimization of processes offered by GIS has resulted in the technology's increased demand.
Organizations in the private sector use the geographic information system for applications such as mining, oil & gas, transportation & logistics, and defense equipment, among others. The rising application of geographic information systems in construction is anticipated to, in turn, boost the market demand over the forecast period.
The growing adoption of GIS in surveying and mapping by several regions is anticipated to drive the market growth. The construction segment is expected to register a high CAGR of 11.2% over the projected period. The Asia Pacific regional market is expected to witness significant growth over the forecast period, owing to the large-scale penetration of GIS.
Key players in the market include Autodesk, Environmental Systems Research Institute, Hexagon AB, and Pitney Bowes.