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Geographic Information System (GIS) Software Market Projected to Reach $7.86 billion by 2025

  • Facto Market Insight
  • Aug, 2019
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  • 297

According to a recent report published by Facto Market Insights, titled,"GIS software Market by Component, Type of GIS Software, Function, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025"the global GIS software market size was valued at $3.24 billion in 2017, and is projected to reach $7.86 billion by 2025, growing at a CAGR of 11.8% from 2018 to 2025.

Surge in investment in GIS based infrastructure by government, rise in demand for GIS solutions in development of smart cities and urban planning, increase in adoption of GIS for facilities management, and proliferation of spatial data & need for analyzing are some of the key factors that are expected to fuel the growth of the global market. However, availability of open-source GIS software and high cost are expected to hamper the growth of the GIS software market.

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The desktop GIS software segment dominated GIS software market share in 2017 and is projected to maintain its dominance during the forecast period owing to increase in demand for user-friendliness in the organizations. However, while conducting the GIS software market analysis, the GIS software as a service (SaaS) is expected to witness significant growth during the forecast period.

The navigation and telematics segment is expected to grow at the highest CAGR during the forecast period due to greater prospect of GIS software to facilitate the association of data such as real-time weather and weather systems, temperatures on the road and planned road closures to provide a realistic and holistic view. The growth in amount of telematics data and need to visualize & analyze this information drives the GIS software market growth. Moreover, mapping function accounted for the highest GIS software market share in 2017.

The GIS software market is witnessing the trend of implementation of augmented reality and virtual reality technologies in the GIS software. Further, the adoption of 3D based urban mapping is also witnessing prompt growth due to transformation of 2D to 3D mapping of smart cities. The emerging trend of development of 4D GIS software is also anticipated to impact the growth of the market during the forecast period. However, skill development of staff, regulations and geospatial data barriers, and high maintenance cost of database are some of the major challenges in the adoption of GIS software. Furthermore, GIS software vendors are focusing on enhancing the user interface to improve user accessibility on smartphones for enterprise mobility. Integration of machine learning, and AI with GIS solutions are expected to enhance the analytics. Machine learning capabilities within the GIS software include classification, clustering and prediction which can be extensively applied in the business processes. For instance, Geoscape data products provided rich building and tree coverage data at a national scale for Australia, extracted and classified from over 200 terabytes of satellite imagery by using machine learning capabilities. Mapping as a service and spatial analytics are anticipated to provide lucrative opportunities for GIS software market during the forecast period.
Key Findings of the GIS software Market:

By component, the software segment led the market in terms of revenue in 2017.
In 2017, the desktop GIS segment accounted for the highest revenue in the type of GIS software category.
By function, the navigation and telematics segment is projected to witness highest growth rate during the forecast period.
Based on end user, the transportation and logistics segment generated the highest revenue in 2017.
Based on region, North America led the market in terms of revenue in 2017.

Some of the key players operating in the GIS software industry include ESRI, Autodesk, SuperMap, Trimble, Hexagon AB (Intergraph), General Electric Co., Pitney Bowes, Computer Aided Development Corporation Limited (Cadcorp), Bentley System, and Caliper.