Return to: IT NewsGlobal Geographic Information System (GIS) Market Witness 10.7% CAGR During 2018 – 2024GIS (Geographic Information System) is a system that is extensively being utilized as a decision making as well as problem-solving procedures along with the ability to visualize data in a spatial structure. These systems are also being adopted to estimate the density of structures in a given area, the activity occurring in nearby locations and to recognize the pattern of change in a particular area. The global GIS market was valued at USD 6.3 billion in 2017 and is further expected to become USD 12.7 billion by 2024. This market is further expected to witness a CAGR of 10.7% during the forecast period 2018 – 2024. Moreover, the GIS system is further facilitating the business enterprises to perform the task in an effective manner. The escalating number of SaaS-based cloud computing systems along with an extensive number of users for mobile devices are the major factors that are pertaining to the growth of the GIS market. It has been observed that extensive upliftment in geospatial information has further fueled the adoption of GIS systems across the globe in various business enterprises. The application of this system varies with various organizations such as in the marketing department as well in advertisement thereby bolstering the growth of the market across the globe. These factors are thereby contributing to the extensive growth of the GIS Market across the globe. However, the initial high set up cost of these systems and the non-existence of authentic spatial data is the major factor hindering the growth of this market across the globe. Get a free copy of sample report: https://www.vynzresearch.com/ict-media/geographic-information-system-gis-market/request-sample The GIS market on the basis of the component is segmented into software, hardware, and services. Among all the components, the software segment holds the largest share and is expected to witness a CAGR of 9.2% during the forecast period. It has been observed that software-based GIS is extensively being utilized in spatial database management systems, data analysis, digital mapping, and data processing. On the basis of application, the GIS market is segmented into water & wastewater, government, aerospace & defense, oil & gas exploration, engineering & business services, oil & gas refining, healthcare, transportation & logistics, telecommunications, and others. The engineering and business services segment is expected to witness the highest CAGR of 11.9% during the forecast period. The growth of this segment is attributed towards the extensive implementation of positioning technology in the construction sector across the globe. Geographically, Asia-Pacific is expected to witness the fastest growth of 11.9% during the forecast period. The increasing investments undertaken by the government authorities in this region and the implementation of several economic reforms are expected to bolster the growth of the GIS industry in this region. GIS technologies in this region are extensively being employed for rural and agricultural progression. Furthermore, the implementation of the GIS system in various countries such as India and China is expected to further fuel the growth of the Asia-Pacific market during the forecast period. Globally industry players are leveraging market growth through extensive application of GIS in various fields. Some of the major players operating in the global GIS market include Environmental Systems Research Institute Inc. (Esri), MacDonald and 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. Global GIS Market Coverage Component Insight and Forecast 2014 - 2024 Hardware Software Services Project Size Insight and Forecast 2014 - 2024 Small Medium Large Application Insight and Forecast 2014 - 2024 Water & wastewater Government Aerospace & defense Oil & gas exploration Engineering & business services Oil & gas refining Healthcare Transportation & logistics Telecommunications Others Contact Us: VynZ Research Call: +91-996-028-8381 Toll-Free (U.S. and Canada): +1-888-253-3960 Email: enquiry@vynzresearch.com Web: https://www.vynzresearch ... News Release: Global Geographic Information System (GIS) Market Witness 10.7% CAGR During 2018 – 2024 Submitted on: May 28, 2020 12:33:29 PM Submitted by: birendra kumar On behalf of: https://www.vynzresearch.com/ict-media/geographic-information-system-gis-market |