LONDON–(BUSINESS WIRE)–According to the latest market study released by Technavio, the global geographic information system (GIS) market is set to reach close to USD 16 billion by 2020, growing at a CAGR of more than 10%.
This research report titled ‘Global GIS Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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The report categorizes the global GIS market into three major product segments. They are:
Global GIS software market
The software segment accounted for a market share of almost 49% in the global GIS market in 2015 and is expected to maintain its dominant position in the market during the forecast period. The growth of this segment is mainly due to increased demand for GIS desktop software in developing countries. Vendors offer industry-specific GIS software, which, in turn, enhances the potential for the GIS software segment. The market, however, is witnessing the threat of counterfeit and pirated products. Therefore, commercial vendors are offering open-source GIS software to overcome this challenge, which is becoming a fast-moving trend in the market.
Despite the huge revenue share of the software segment, the adoption of cloud-based GIS software is still a major challenge in the market. Lack of standardization and low interoperability are some of the major inhibitors for the increased adoption of cloud-based GIS software. However, the potential for cloud-based adoption is very high in the era of big data and Internet of things (IoT).
According to Navin Rajendra, a lead enterprise application expert from Technavio, “The GIS software market is further classified into five software segments, including desktop, server, mobile, cloud or SaaS, and developer. Of these five segments, the desktop segment tops the table with approximately 52% share of the global GIS software market.”
Global GIS data market
The data segment is the second largest segment in the market in 2015 and is expected to reach USD 4.373 billion by 2020, growing at a CAGR of over 11%. The data available through GIS include predictive analysis data and digital maps data. Predictive analysis data includes business data, which is used across organizations for carrying out business operations more effectively and efficiently. Digital map data includes location details and geography. The data segment is expected to grow at a faster rate than the software segment.
“At present, the GIS data market is dominated by large vendors. Google has a strong presence, offering a digital maps application to end-users. Similarly, several large vendors offer map information and other information via satellite,” says Navin.
Global GIS services market
The services segment is one of the fastest growing segments in the market, growing at a CAGR of more than 10% to reach USD 3.94 billion by 2020. GIS services offered by vendors in the market include consulting, implementation, training and education, e-services, and web hosting. Consulting and implementation accounted for the largest share of services offered by vendors in the market.
The top vendors highlighted by Technavio’s research analysts in this report are:
- MDA Information Systems