Geographic Information System (GIS) Market Analysis, Development and Demand Forecast to 2020 by P&S Market Research
The global geographic information system
(GIS) market is
expected to increase from $7,612.9 million in 2014 to reach $14,623.8 million
by 2020, growing at a CAGR of 11.4%. Among the various industry verticals, the
Government sector accounted for about 28.3% share of the global GIS market in
2014. The increasing urbanization, in addition to the growth of enterprise GIS in
developing countries, is expected to boost the demand of geographic information
system during the forecast period. During the recent years, the demand for 3D
based GIS has increased, owing to the development of smart cities in China,
India, and other South East Asian countries. The use of 3D GIS is witnessing
rapid growth in building surveillance application.
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According to Environmental Systems
Research Institute Inc. (ESRI), the adoption of 3D based urban mapping is
witnessing a rapid growth, owing to the conversion 2D to 3D mapping of smart
cities. The modern GIS maps are constructed in a way that new data can be
added, as it becomes available and hence the transition from 2D based map to 3D
map is gaining pace. The real estate company utilizes the 3D based information
to leverage marketing opportunity. Providing line of sight visualization in any
direction from any location in a building, offers competitive advantage to the
real estate developers.
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The increasing investment in GIS based
infrastructure by government sector is among prime growth factors for the global
GIS market. The increased investment in home land security, along with large
capital funding for urban development in developing countries is driving the
growth of global GIS market. The growth of facility management infrastructure
has also benefited the penetration of enterprise GIS solution in the recent
years. Recently, the government of India has started digital India initiative.
The government along with the private sector companies is expected to invest
heavily in improving internet connectivity and location based services
infrastructure in the country, during the next five to six years.
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Asia-Pacific is expected to be the
fastest growing GIS market during the forecast period, owing to the increasing
penetration of GIS solution in utility sector, government sector, and water and
waste water sector in developing countries, including India and China. The
upsurge in urbanization along with purposed investment in smart cities in the
region is expected to boost the demand of GIS in the coming years.
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