Geographic Information System (GIS) Market - Future Scope, Revenue Growth and Forecast Research 2025
Geographic Information Systems (GIS) Market Size is predicted to increase from USD 8.1 billion to USD 14.5 billion between 2020 and 2025, expanding at a CAGR of 12.4%.
At a CAGR of 12.4% from 2020 to 2025, the Geographic Information System (GIS) Market Size is anticipated to increase from USD 8.1 billion in 2020 to USD 14.5 billion by that year. Smart city development and urbanisation, business intelligence technology integration with geospatial technology, and the use of GIS solutions in the transportation industry are a few of the major reasons boosting the market's expansion.
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One of the leading participants in the GIS market is Environmental Systems Research Institute, Inc. (Esri) (US), along with Hexagon AB (Sweden), Trimble Inc., Pitney Bowes Inc., Autodesk Inc., Topcon Corporation (Japan), Maxar Technologies Inc., Caliper Corporation, and Bentley Systems, Inc. With numerous large and small market competitors, the GIS market is extremely competitive. Some of the key tactics used by the players to expand in the GIS market include new product releases and developments, partnerships, agreements, contracts, collaborations, and acquisitions.
The US-based Environmental Systems Research Institute, Inc. (Esri) offers a wide range of GIS applications and Geodata services. Comprehensive offers, solid financial performance, international strategic connections, and a sizable client base are among the company's fundamental assets. In order to provide its customers with technologically cutting-edge solutions, the company primarily concentrates on new product launches and developments. In FY2019, it introduced a number of new products with an emphasis on product improvement and the creation of cutting-edge geospatial technology.
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The business serves numerous industries as a provider of fundamental GIS solutions. Additionally, it emphasises inorganic expansion techniques to build its capacity to better serve various markets throughout the world. For instance, in 2020 Esri collaborated with automation software provider Open Systems International, Inc. (OSI). Customers in the electric, gas, and water utility industries would be able to use both OSI's monarch operational technology (OT) platform and Esri's ArcGIS Utility Network Management as a component of their geographic information system (GIS).
A wide variety of geographic information software is provided by Hexagon AB (Sweden) for the construction, public safety, natural resources, transportation & public service, and defence industries. In the GIS industry, Intergraph Corp. (US), a fully owned subsidiary of Hexagon, provides GIS software and services. Due to its cutting-edge technological capabilities, the company is able to provide a variety of cutting-edge goods for important industries, increasing market competition. As an illustration, the business debuted Power Portfolio 2020 in 2019 as the most recent iteration of its top photogrammetry, remote sensing, GIS, and mapping products.
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