Geographic Information Systems Market

Geographic Information Systems Market (GIS)
stood at US$ 8.4 Bn in 2015 and is estimated
to expand with a CAGR of 12.7% from 2016 to
2024.
According to a new market research report published by Credence Research “Geographic
Information Systems (GIS) Market (Component – Hardware, Software, Data, and
Services) - Growth, Future Prospects, Competitive Analysis and Forecast 2016 - 2024”,
the global geographic information systems (GIS) market stood at US$ 8.4 Bn in 2015
and is estimated to expand with a CAGR of 12.7% from 2016 to 2024.
Market Insights
The geographic information systems (GIS) market is primarily driven by the increasing
need to achieve enhanced efficiency and accuracy in various infrastructure and utility
planning. Numerous government bodies in the developed countries seek to make use of
the geographic information systems (GIS) in order to assess existing infrastructure and
plan future projects accordingly. Apart from applications in the public sector, geographic
information systems (GIS) have found numerous applications in the private domain.
Organizations from various end-use industries such as oil and gas, telecommunication,
engineering and business services, transportation and logistics, among others have
adopted geographic information systems (GIS). With the use of geo-spatial data,
organizations are able to solve specific issues related to their businesses. Moreover,
maintenance of geo-spatial data has enabled organizations to analyze and compare
outcomes of various business activities at specific locations periodically. Thereby, the
geographic information systems (GIS) are expected witness higher adoption in the
following years.
The complete report is available
at http://www.credenceresearch.com/report/geographic-information-systems-gismarket
Despite
numerous
benefits
of
geographic
information
systems
(GIS),
various
organizations have failed to deploy these systems due to various reasons such as high
costs, lack of technological awareness, and inaccuracy of legacy systems. However,
technological advancement in image capturing and scanning has led to the rise of highly
accurate systems providing precise geo-spatial data. Moreover, with numerous
companies offering consultation and implementation services, increasing number of
organizations are expected to adopt geographic information systems (GIS) in the
following years. Thereby, the geographic information systems (GIS) market is expected
to witness significant growth during the forecast period.
Competitive Insights:
The geographic information systems (GIS) market is highly competitive in various
markets across the world. The geographic information systems (GIS) market includes
numerous providers in the geographic information ecosystem including hardware
providers, GIS software providers, geo-spatial data providers; and implementation and
consulting service providers. Most of the leading companies in the geographic information
systems (GIS) market have achieved significant share in their respective home markets.
However, increasing demand from developing countries towards effective infrastructure
and township planning offers numerous growth opportunities for players in the
geographic information systems (GIS) market.
Key Trends:

Increasing usage of advanced geographic data capturing techniques such as images from
unmanned aerial vehicles (UAVs), 3D scanners, and precise satellite positioning using
GNSS

Rise in the number of service providers which make use of third party geographic
information systems (GIS) and geo-spatial data to help other organizations in planning
and commissioning

Increasing investments towards research and development of advanced geographic
information systems (GIS) to ensure higher accuracy and usability of geo-spatial data
The complete report is available
at http://www.credenceresearch.com/report/geographic-information-systems-gismarket
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