LONDON--(BUSINESS WIRE)--Technavio analysts forecast the GIS Market in North America to grow at a CAGR of over 10% during the forecast period, according to their latest market research report.
The increasing use of GIS solutions in big data analytics is one of the major trends being witnessed in the GIS Market in North America 2019-2023. The merger of GIS data with big data analytics has led to a new way of analyzing massive volumes of cluttered data to gather meaningful and useful information. Some functions of this customized GIS software are visualization and analysis of maps, online publication of map applications, and recording of huge volumes of spatial data in Hadoop. Thus, with the many advantages such as these, the market is expected to witness a positive outlook during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the GIS Market in North America is the importance of GIS in capacity and urban planning activities:
GIS Market in North America: Importance of GIS in Capacity and Urban Planning Activities
The telecommunications sector is one of the prominent end-users of GIS. The sector has become saturated in urban areas and the competition is intense. Hence, most of the vendors prefer to focus on rural areas, where demand for telecommunication voice and data services is on the rise, and there is a relatively low level of competition. Capitalizing on the rural market requires telecommunication companies to undertake precise planning. GIS provides its users with information about market segmentation and consumer usage patterns. It is extensively used to devise a communication network structure after taking into consideration the future communication demands of the region. GIS also facilitates effective decision-making by using the existing network structure and network performance. GIS equips urban planners and engineers with tools such as spatial analysis, spatial modeling, and visualization which will aid in designing and mapping cities and towns. Therefore, the market is expected to register a rise in growth during the forecast period.
According to a senior analyst at Technavio for research on enterprise application, “Another factor boosting the growth of the market is the adoption of GIS by enterprises to improve communication and customer services. Currently, organizations are increasingly implementing enterprise GIS, which allows them to access all geospatial data and applications across the entire organization. As most of the data present within an organization, such as client location, sales data by geography, and others can be linked to geo-location tags, any patterns that could not be identified earlier using spreadsheets or databases, can now be displayed, queried, and analyzed online. Hence, GIS solutions are helping organizations in sharing resources, data, and applications, as well as aiding in increasing operational efficiency and improving decision making.”
GIS Market in North America: Segmentation analysis
The GIS Market in North America research report provides market segmentation by end-user (government, military, utilities, telecommunication, others), and by region (US and Canada). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The government segment held the largest share of the market in 2018, accounting for over 20% share, followed by the military, utilities, and telecommunication respectively. During the forecast period, the utilities segment is expected to register the highest incremental growth, followed by the military segment.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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