Increasing adoption of GIS for facilities management, integration of GIS with mainstream technologies for business intelligence fueled the growth of the market
PORTLAND, OREGON, UNITED STATES, September 28, 2020 /EINPresswire.com/ — According to the report, the global GIS software market was valued at $3.24 billion in 2017 and is expected to hit $7.86 billion in 2025, registering a CAGR of 11.8% from 2018 to 2025. Increase in adoption of GIS for facilities management, integration of GIS with mainstream technologies for business intelligence, rise in demand for GIS software for smart cities development, and urban planning have fueled the growth of the global GIS software Market. On the other hand, high cost and availability of open-source GIS software have hampered the growth to some extent. Nevertheless, the adoption of advanced technologies such as AR, VR, and IoT for GIS, emerging technologies such as geospatial AI, and development of 4D GIS Software have created a number of opportunities in the market.
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Based on the type of GIS software, the desktop GIS segment held the highest market share in 2017, contributing to nearly two-fifths of the total market. Being the most commonly used GIS solution, it has got all the basic functionalities of GIS, which in turn, has worked as the prime driving factor behind its growth. Simultaneously, the others segment is anticipated to grow at the highest CAGR of 13.8% during the forecast period. The report also offers insights on server GIS, developer GIS, and mobile GIS.
Based on end-user, the transportation and logistics segment accounted for nearly one-fifth of the total market in 2017 and is anticipated to remain dominant by 2025. Increase in adoption of advanced technologies such as connected cars, advanced telematics, and navigation systems has spurred the growth. Simultaneously, the agriculture segment is projected to grow at the highest CAGR of 14.0% during the study period.
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Based on region, North America contributed to more than one-third of the total market in 2017 and is expected to dominate throughout the forecast period. The factors contributing to the highest share of this market in the region include large amount of data generated everyday by multiple organizations and adoption of advanced technologies as well as digitalization.
The key market players analyzed in the report include,
• Hexagon AB (Intergraph)
• Pitney Bowes
• Computer Aided Development Corporation Limited (Cadcorp)
• General Electric Co.
• Bentley System.
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They have adopted several high-end strategies and have become successful in retaining their stronghold in the industry.
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Source: EIN Presswire