Associate Director - Marketing and Sales, Consulting
Geospatial World
OUR IMPACT
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The geospatial sector emerges as the next ‘Big’ opportunity, driven by a confluence of new policy implementations and technological advancements. Globally, it stands on the brink of unlocking billions of dollars in value and creating substantial socio-economic benefits. Despite discussions of economic headwinds in some regions, the geospatial industry outlook remains highly promising. Recent advancements in sensor-data fusion, location-based technologies, digitalization, and workflow integration have propelled the widespread adoption of geospatial information and technologies, benefiting individuals, local municipalities, governments, and voluntary organizations alike.
The mainstream integration of geospatial technology across various economic sectors has firmly established it as indispensable for addressing pressing global challenges, including climate risks, disasters, resource depletion, and water scarcity. Digital transformation is reshaping the industry landscape through data abundance, innovative business models, and technologies like digital twins, prescriptive analytics, and collaboration tools.
Investors and funding agencies worldwide are increasingly attracted to the geospatial industry, with Earth Observation companies receiving more than 50% of total funding between 2019 and 2022, followed by GNSS and Positioning Technology Providers. This significant investment underscores the sector’s allure and substantial growth potential.
Therefore, it is imperative for stakeholders in the global geospatial community to assess their market position and capitalize on the opportunity to secure a significant share of this expanding industry landscape. By embracing the evolving dynamics and leveraging innovative solutions, stakeholders can position themselves for sustainable growth and success in the burgeoning geospatial market.
The latest edition of Geospatial World’s GeoBuiz report, GeoBuiz 23: Global Geospatial Industry Market Size, Forecast, and Growth Trends, marks a significant milestone in providing comprehensive insights into the geospatial market. This latest edition offers an extensive evaluation of the global geospatial industry, presenting evidence-based analysis across fifteen selected countries. With a detailed examination of geospatial market size, forecasts, and technology segments, the GeoBuiz 23 Report serves as a vital resource for gaining a deeper understanding of the dynamic landscape of geospatial adoption and its implications for various sectors worldwide.
“In the above context, Geospatial World’s GeoBuiz 23 report – estimates the geospatial market to be USD 512 billion in 2023, with a geospatial economy (market capitalization) of USD 1.7 trillion and direct economic impact of USD 7.5 trillion – a BIG Opportunity for everyone in the ecosystem!” Ananya adds.
The GeoBuiz 23 report has been developed after a comprehensive exercise of interaction with 500+ geospatial industry leaders and practitioners along with collecting an almost equal number of quality survey responses by key decision-makers from across the global geospatial ecosystem.
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