Geographic Information System (GIS) Market is expected to reach $17,510.9 million by 2023, growing at a CAGR of 10.1% during 2017 – 2023

Global Geographic Information System (GIS) Market Size, Share, Development, Growth and Demand Forecast to 2023

New York, United States - November 8, 2017 /MarketersMedia/

The global GIS market is witnessing increasing investment by the governments for application in homeland security, and military and aerospace sector. Over the years, several GIS vendors have also come up with innovative products to suit the requirements of the governments in developing countries. Recently, the Government of India started Digital India initiative, where the government along with the private sector companies is expected to invest heavily in improving internet connectivity and location based services infrastructure across the country, during in the next five to six years. The country is also expected to develop a GIS based data for land records, land management and ownership details in the country. The Government of India has included “National GIS Vision” in its 12th five-year plan (2012 – 2017), under which the government is expected to explore the potential untapped opportunities for GIS implementation.

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The 3D based virtual reality geographic information systems (VRGIS) have been getting popular in city planning and urban development in developing countries. The three-dimensional geographic information system facilitates an improved and detail insight into the complex database of GIS. Moreover, the advanced projection based displays enable urban planners to design 3D based virtual models. Many 3D based GIS applications, such as storm water run-off studies and building surveillance, are experiencing high penetration in developed countries. According to Environmental Systems Research Institute Inc. (ESRI), 3D based urban mapping is witnessing rapid growth owing to the conversion of 2D to 3D mapping of smart cities. The modern GIS maps are constructed in a way that new data can be added as it becomes available, and hence the transition from 2D based map to 3D map is gaining pace. Apart from the urban planning, the 3D based GIS market is also witnessing fast growth in flood modeling, transportation, and census.

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Asia-Pacific is expected to be the fastest growing GIS market during the forecast period, owing to the increasing penetration of GIS solutions in sectors such as utility, government, and water and waste water, in developing countries of the region, including India and China. The upsurge in urbanization along with investment in smart cities in the region is expected to bolster the demand for GIS solutions in the coming years.

Some of the major companies operating in the global geographic information system (GIS) market include Environmental Systems Research Institute Inc. (Esri), Pitney Bowes Inc., MacDonald, Dettwiler and Associates Ltd., SuperMap Software Co. Ltd., PASCO CORPORATION, Ubisense Group Plc., Bentley Systems Incorporated, Schneider Electric SE, and Autodesk Inc.

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