{"id":178708,"date":"2018-04-05T11:51:00","date_gmt":"2018-04-05T11:51:00","guid":{"rendered":"https:\/\/www.geospatialworld.net\/consulting\/gw-market-insights\/us-holiday-shopping-2023-consumer-caution-and-retailer-resilience-3-3\/"},"modified":"2024-04-04T09:47:03","modified_gmt":"2024-04-04T09:47:03","slug":"economic-impact-of-geospatial-industry-surges-to-us-2210-7-billion","status":"publish","type":"post","link":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/?p=178708","title":{"rendered":"Economic Impact of Geospatial Industry Surges to US$ 2210.7 Billion"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"178708\" class=\"elementor elementor-178708\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5f44b29 e-con-full e-flex e-con e-parent\" data-id=\"5f44b29\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-94084c4 e-con-full e-flex e-con e-child\" data-id=\"94084c4\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4b86bd0 elementor-widget elementor-widget-template\" data-id=\"4b86bd0\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"180611\" class=\"elementor elementor-180611\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-60ce631f e-con-full e-flex e-con e-parent\" data-id=\"60ce631f\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-2bb934a e-con-full e-flex e-con e-child\" data-id=\"2bb934a\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4aa08615 elementor-widget elementor-widget-heading\" data-id=\"4aa08615\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/?cat=1\" rel=\"tag\">Article<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20304ae8 elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"20304ae8\" data-element_type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Economic Impact of Geospatial Industry Surges to US$ 2210.7 Billion<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d287c9a elementor-widget elementor-widget-post-info\" data-id=\"4d287c9a\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-4a66850 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\t<time>April 5, 2018<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4f1b5867 e-con-full e-flex e-con e-child\" data-id=\"4f1b5867\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-199adf81 elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"199adf81\" data-element_type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1200\" height=\"400\" src=\"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2022\/12\/3.4.jpg\" class=\"attachment-full size-full wp-image-178415\" alt=\"\" srcset=\"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2022\/12\/3.4.jpg 1200w, https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2022\/12\/3.4-300x100.jpg 300w, https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2022\/12\/3.4-1024x341.jpg 1024w, https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2022\/12\/3.4-768x256.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1769899 e-con-full e-flex e-con e-child\" data-id=\"1769899\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-5bf0a20 e-con-full e-flex e-con e-child\" data-id=\"5bf0a20\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d1daae3 elementor-widget elementor-widget-author-box\" data-id=\"d1daae3\" data-element_type=\"widget\" data-widget_type=\"author-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-author-box\">\n\t\t\t\n\t\t\t<div class=\"elementor-author-box__text\">\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.geospatialworld.net\/consulting\/gw-market-insights\/author\/ananya-narain\/\" target=\"_blank\">\n\t\t\t\t\t\t<h4 class=\"elementor-author-box__name\">\n\t\t\t\t\t\t\tAnanyaa Narain\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t<\/a>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-author-box__bio\">\n\t\t\t\t\t\t<p><b> Vice President- Consulting<\/b>  <br \/>Geospatial World<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aed3a47 elementor-widget elementor-widget-heading\" data-id=\"aed3a47\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Share via:<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-850de3c elementor-share-buttons--view-icon elementor-share-buttons--skin-minimal elementor-share-buttons--shape-rounded elementor-share-buttons--align-left elementor-share-buttons--color-custom elementor-grid-0 elementor-widget elementor-widget-share-buttons\" data-id=\"850de3c\" data-element_type=\"widget\" data-widget_type=\"share-buttons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-grid\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\">\n\t\t\t\t\t\t<div\n\t\t\t\t\t\t\tclass=\"elementor-share-btn elementor-share-btn_facebook\"\n\t\t\t\t\t\t\trole=\"button\"\n\t\t\t\t\t\t\ttabindex=\"0\"\n\t\t\t\t\t\t\taria-label=\"Share on facebook\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-facebook\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M504 256C504 119 393 8 256 8S8 119 8 256c0 123.78 90.69 226.38 209.25 245V327.69h-63V256h63v-54.64c0-62.15 37-96.48 93.67-96.48 27.14 0 55.52 4.84 55.52 4.84v61h-31.28c-30.8 0-40.41 19.12-40.41 38.73V256h68.78l-11 71.69h-57.78V501C413.31 482.38 504 379.78 504 256z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\">\n\t\t\t\t\t\t<div\n\t\t\t\t\t\t\tclass=\"elementor-share-btn elementor-share-btn_twitter\"\n\t\t\t\t\t\t\trole=\"button\"\n\t\t\t\t\t\t\ttabindex=\"0\"\n\t\t\t\t\t\t\taria-label=\"Share on twitter\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-twitter\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M459.37 151.716c.325 4.548.325 9.097.325 13.645 0 138.72-105.583 298.558-298.558 298.558-59.452 0-114.68-17.219-161.137-47.106 8.447.974 16.568 1.299 25.34 1.299 49.055 0 94.213-16.568 130.274-44.832-46.132-.975-84.792-31.188-98.112-72.772 6.498.974 12.995 1.624 19.818 1.624 9.421 0 18.843-1.3 27.614-3.573-48.081-9.747-84.143-51.98-84.143-102.985v-1.299c13.969 7.797 30.214 12.67 47.431 13.319-28.264-18.843-46.781-51.005-46.781-87.391 0-19.492 5.197-37.36 14.294-52.954 51.655 63.675 129.3 105.258 216.365 109.807-1.624-7.797-2.599-15.918-2.599-24.04 0-57.828 46.782-104.934 104.934-104.934 30.213 0 57.502 12.67 76.67 33.137 23.715-4.548 46.456-13.32 66.599-25.34-7.798 24.366-24.366 44.833-46.132 57.827 21.117-2.273 41.584-8.122 60.426-16.243-14.292 20.791-32.161 39.308-52.628 54.253z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\">\n\t\t\t\t\t\t<div\n\t\t\t\t\t\t\tclass=\"elementor-share-btn elementor-share-btn_linkedin\"\n\t\t\t\t\t\t\trole=\"button\"\n\t\t\t\t\t\t\ttabindex=\"0\"\n\t\t\t\t\t\t\taria-label=\"Share on linkedin\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-linkedin\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 32H31.9C14.3 32 0 46.5 0 64.3v383.4C0 465.5 14.3 480 31.9 480H416c17.6 0 32-14.5 32-32.3V64.3c0-17.8-14.4-32.3-32-32.3zM135.4 416H69V202.2h66.5V416zm-33.2-243c-21.3 0-38.5-17.3-38.5-38.5S80.9 96 102.2 96c21.2 0 38.5 17.3 38.5 38.5 0 21.3-17.2 38.5-38.5 38.5zm282.1 243h-66.4V312c0-24.8-.5-56.7-34.5-56.7-34.6 0-39.9 27-39.9 54.9V416h-66.4V202.2h63.7v29.2h.9c8.9-16.8 30.6-34.5 62.9-34.5 67.2 0 79.7 44.3 79.7 101.9V416z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\">\n\t\t\t\t\t\t<div\n\t\t\t\t\t\t\tclass=\"elementor-share-btn elementor-share-btn_email\"\n\t\t\t\t\t\t\trole=\"button\"\n\t\t\t\t\t\t\ttabindex=\"0\"\n\t\t\t\t\t\t\taria-label=\"Share on email\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fas-envelope\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M502.3 190.8c3.9-3.1 9.7-.2 9.7 4.7V400c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V195.6c0-5 5.7-7.8 9.7-4.7 22.4 17.4 52.1 39.5 154.1 113.6 21.1 15.4 56.7 47.8 92.2 47.6 35.7.3 72-32.8 92.3-47.6 102-74.1 131.6-96.3 154-113.7zM256 320c23.2.4 56.6-29.2 73.4-41.4 132.7-96.3 142.8-104.7 173.4-128.7 5.8-4.5 9.2-11.5 9.2-18.9v-19c0-26.5-21.5-48-48-48H48C21.5 64 0 85.5 0 112v19c0 7.4 3.4 14.3 9.2 18.9 30.6 23.9 40.7 32.4 173.4 128.7 16.8 12.2 50.2 41.8 73.4 41.4z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fae5c9a e-con-full elementor-hidden-tablet elementor-hidden-mobile elementor-hidden-desktop e-flex e-con e-child\" data-id=\"fae5c9a\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ced4ef6 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"ced4ef6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">OUR IMPACT<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b0cbad elementor-widget elementor-widget-heading\" data-id=\"5b0cbad\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What's the World Economic Forum doing to <strong>accelerate action on Trade and Investment?<\/strong><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-41cff4e e-con-full e-flex e-con e-child\" data-id=\"41cff4e\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;],&quot;sticky_offset&quot;:20,&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;sticky_effects_offset&quot;:0}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c429acd elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"c429acd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">RELATED REPORTS<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0ff90de elementor-skin-carousel elementor-arrows-yes elementor-widget elementor-widget-media-carousel\" data-id=\"0ff90de\" data-element_type=\"widget\" data-settings=\"{&quot;slides_per_view&quot;:&quot;1&quot;,&quot;slides_to_scroll&quot;:&quot;1&quot;,&quot;skin&quot;:&quot;carousel&quot;,&quot;effect&quot;:&quot;slide&quot;,&quot;show_arrows&quot;:&quot;yes&quot;,&quot;speed&quot;:500,&quot;autoplay&quot;:&quot;yes&quot;,&quot;autoplay_speed&quot;:5000,&quot;loop&quot;:&quot;yes&quot;,&quot;pause_on_hover&quot;:&quot;yes&quot;,&quot;pause_on_interaction&quot;:&quot;yes&quot;,&quot;space_between&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]},&quot;space_between_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]},&quot;space_between_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]}}\" data-widget_type=\"media-carousel.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-swiper\">\n\t\t\t<div class=\"elementor-main-swiper swiper-container\">\n\t\t\t\t<div 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data-id=\"283e694\" data-element_type=\"container\" data-settings=\"{&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;],&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;sticky_offset&quot;:0,&quot;sticky_effects_offset&quot;:0}\">\n\t\t<div class=\"elementor-element elementor-element-f552cbe e-con-full important_quote e-flex e-con e-child\" data-id=\"f552cbe\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8cf2baa elementor-widget elementor-widget-heading\" data-id=\"8cf2baa\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">This article is part of:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6a6faa2 elementor-widget elementor-widget-post-info\" data-id=\"6a6faa2\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-a796b1a\" itemprop=\"about\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-terms\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-post-info__terms-list\">\n\t\t\t\t<span class=\"elementor-post-info__terms-list-item\">Geospatial Technologies<\/span>, <span class=\"elementor-post-info__terms-list-item\">Global Geospatial Market<\/span>, <span class=\"elementor-post-info__terms-list-item\">Market &amp; Economy<\/span>\t\t\t\t<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-309fb3a important_except elementor-widget elementor-widget-theme-post-excerpt\" data-id=\"309fb3a\" data-element_type=\"widget\" data-widget_type=\"theme-post-excerpt.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\tUnderappreciated geospatial technology surpassed revenue growth at US$2,210.7 Billion in 2017, with sectors like Transportation and Utilities leading. Copernicus program contributes EUR 30 billion to the European economy. Anticipated growth to US$439.2 Billion by 2020, fueled by developing economies' demand.\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c798a8 para elementor-widget elementor-widget-text-editor\" data-id=\"1c798a8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Geospatial information and technology are becoming pervasive in our day-to-day lives as the \u2018location\u2019 component becomes an integral component for decision-making in all key economic segments such as Defence and Internal Security, Transportation, Construction, Mining, Agriculture, Utilities, etc. However, even while the industry is growing at an accelerating rate, and almost all key economic segments are leveraging spatial information for improving efficiency and productivity, the true economic value and impact of this technology is hidden and more often than not, underappreciated. Even though geospatial data lies at the core of decision-making and continues to create its impact in creating significant benefits for social, economic, and environmental benefits (SDGs!); it has become necessary to understand the economic impact of geospatial industry for society at large.<\/p>\n<p>The&nbsp;<a href=\"https:\/\/geobuiz.com\/geobuiz-2018-report.html\">GeoBuiz-18 report<\/a>, by Geospatial Media and Communications, highlights how geospatial solutions fuel economic growth. As the use of geospatial information and technology gets embedded in key business processes such as Business Information Management, C4ISR, Enterprise Resource Planning (ERP), Supply Chain Management Network, Environment Impact Assessment, among many others, its overall value creation for the economy also continues to expand. There are a plethora of applications, sectors, and segments where geospatial solutions are applied, thus enhancing the economic return from these applications.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8a46254 e-con-full important_except2 e-flex e-con e-child\" data-id=\"8a46254\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2f15ab7 elementor-widget elementor-widget-heading\" data-id=\"2f15ab7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">The economic impact of the geospatial industry is estimated to have grown from US$ 1,118.7 Billion in 2013 to US$ 2,210.7 Billion in 2017<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-30810b2 e-con-full e-flex e-con e-child\" data-id=\"30810b2\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-8ec5312 e-con-full e-flex e-con e-child\" data-id=\"8ec5312\" data-element_type=\"container\" data-settings=\"{&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;],&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;sticky_offset&quot;:0,&quot;sticky_effects_offset&quot;:0}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bd58480 para_h elementor-widget elementor-widget-heading\" data-id=\"bd58480\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Economic Impact of Geospatial Industry: Facts and Figures<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a72eeb2 para elementor-widget elementor-widget-text-editor\" data-id=\"a72eeb2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The\u00a0<strong><a href=\"https:\/\/geobuiz.com\/geobuiz-2018-report.html\">GeoBuiz-18<\/a>\u00a0<\/strong>report assesses the economic impact of the geospatial industry by conducting a thorough economic impact assessment of several reports put together. The study finds that while the geospatial industry grew at a <strong>CAGR of 11.5% from 2013 to 2017, from US$ 202.8 Billion to US$ 292.2 Billion<\/strong>, the economic impact created was several times higher. The economic impact of the geospatial industry, over the period 2013-2017, was nearly double the industry\u2019s revenue growth, growing at a stupendous <strong>CAGR of 20.9%!<\/strong> Due to wider integration and adoption of geospatial information and technology, the economic impact of the geospatial industry is estimated to have grown from<strong>\u00a0US$ 1,118.7 Billion in 2013\u00a0to US$ 2,210.7 Billion in 2017<\/strong>!\u00a0 This shows the positive spillover effects of the geospatial industry on the society and economies of the world.<\/p><p>Concurrently, a report by AlphaBeta, on \u2018Global Economic Impact of Geospatial Services&#8217;, released in October 2017, illustrated that while geospatial services generate US$400 billion the cumulative benefits for consumers, societies, and businesses are tremendous. The study highlights that consumer benefits created by geospatial services are worth over US$550 Billion; geospatial services create 4 million direct jobs and potentially 8 million direct ones; help people save time worth US$ 264 Billion and US$ 20 Billion in fuel; and reduce the emergency response time by approximately 20% in some countries. This, by and large, signifies the role geospatial information and technology play as a key economic enabler.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7f2f9ac e-con-full e-flex e-con e-child\" data-id=\"7f2f9ac\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ead6db0 elementor-widget elementor-widget-image\" data-id=\"ead6db0\" data-element_type=\"widget\" data-settings=\"{&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_offset&quot;:125,&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;,&quot;mobile&quot;],&quot;sticky_effects_offset&quot;:0}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2018\/04\/Impact-1.gif\" data-elementor-open-lightbox=\"yes\" data-elementor-lightbox-title=\"Impact\" data-e-action-hash=\"#elementor-action%3Aaction%3Dlightbox%26settings%3DeyJpZCI6MTc4NzY2LCJ1cmwiOiJodHRwczpcL1wvZ2Vvc3BhdGlhbHdvcmxkLm5ldFwvY29uc3VsdGluZ1wvZ3ctbWFya2V0LWluc2lnaHRzXC93cC1jb250ZW50XC91cGxvYWRzXC8yMDE4XC8wNFwvSW1wYWN0LTEuZ2lmIn0%3D\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"600\" height=\"338\" src=\"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2018\/04\/Impact-1.gif\" class=\"attachment-full size-full wp-image-178766\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Source: GeoBuiz-18<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ae130c e-con-full e-flex e-con e-child\" data-id=\"8ae130c\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-30439c5 e-con-full e-flex e-con e-child\" data-id=\"30439c5\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d2798ed para_h elementor-widget elementor-widget-heading\" data-id=\"d2798ed\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Geospatial Technologies: Towards Creating a High-Value Impact<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5573896 para elementor-widget elementor-widget-text-editor\" data-id=\"5573896\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Facilitated by new and enabling technologies (Cloud, Big Data, AI, and Internet of Things) of the digital ecosystem, geospatial technologies are expanding their application bandwidth continuously. Geospatial technologies such as GNSS and Positioning, GIS and Spatial Analytics, Earth Observation, and 3D Scanning are getting embedded in business processes to positively impact key economic segments like Transportation, Utilities, Construction, Mining, Agriculture, BFSI, Government Services, Manufacturing, Forestry, and Fisheries. While Defence and Internal Security continue to be the fastest and strategic user segment of geospatial information and technology, the other key sectors generate substantial economic impact.<\/p><p>A case in point is that of the\u00a0<strong><a href=\"https:\/\/www.geospatialworld.net\/article\/economic-impact-copernicus\/\">Copernicus Program<\/a><\/strong>, Europe\u2019s leading Earth Observation program formed in collaboration with the European Union, the European Space Agency, and the European Organization for the exploitation of Meteorological Satellites (EUMETSAT). As \u2018Europe\u2019s eye on Earth\u2019, the exploitation of Copernicus-enabled products is bringing multiple socio-economic benefits in various economic sectors. These include urban development, agriculture, urban monitoring, insurance, ocean monitoring, oil and gas, renewable energies, forestry and fisheries, and tourism, among many others Contributing to the excellence of the \u2018European Space Industry\u2019, the potential economic impact of the Copernicus program on the European economy is estimated to be worth EUR 30 billion in addition to the 50,000 additional jobs that it shall create. It is also seen that of every EUR 1 spent from the public funds in the Copernicus activities, the value-addition to the whole economy is EUR 1.4 \u2014 a decent investment to benefit streak.<\/p><p>Reinforcing the Copernicus example is the analysis of the <a href=\"https:\/\/geobuiz.com\/geobuiz-2018-report.html\"><strong>GeoBuiz-18 report<\/strong><\/a> which highlights the economic impact of the geospatial industry on key priority economic sectors. Leading these sectors are Transportation and Utilities \u2013 generating a massive value impact worth US$ 623.2 Billion and US$603.9 Billion respectively. For instance, efficient transportation due to GPS navigation enables consumers to save on fuel and time while potentially reducing global CO2 emissions by 5% per year (AlphaBeta). For utilities, GNSS technology is used for asset mapping \u2013, so as to locate and manage large networks of infrastructure assets and improve asset maintenance. A case in point is illustrated in the Allen report which estimates that the impact of using geospatial technology for the utility sector in Australia could generate a potential productivity impact of 1.25% by 2030. Additionally, the economic impact of geospatial industry\/technology in traditional end-use sectors like the Construction, Mining, and Agriculture sectors is accelerating. With a value impact worth US$244.9 Billion, US$222.7 Billion, and US$111.7 Billion respectively, these sectors are driving the overall economic value created in the developing countries.<\/p><p>Furthermore, Retail and Logistics, Forestry, Banking, Finance, and Insurance (BFSI) are sectors largely driven by the criticalities of location. GIS, GNSS, and Location Analytics are used across a wide spectrum of all these sectors bringing strategic shifts to these businesses. While these sectors are new, and the adoption of geospatial technology is at a nascent stage \u2013 these sectors have the potential to generate high-value impact (tangible and intangible) for society.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-008aab0 e-con-full e-flex e-con e-child\" data-id=\"008aab0\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-21908af elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"21908af\" data-element_type=\"widget\" data-settings=\"{&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_offset&quot;:125,&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;,&quot;mobile&quot;],&quot;sticky_effects_offset&quot;:0}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2018\/04\/Towards-Creating-a-High-Value-Impact-1.gif\" data-elementor-open-lightbox=\"yes\" data-elementor-lightbox-title=\"Towards-Creating-a-High-Value-Impact\" data-e-action-hash=\"#elementor-action%3Aaction%3Dlightbox%26settings%3DeyJpZCI6MTc4NzgwLCJ1cmwiOiJodHRwczpcL1wvZ2Vvc3BhdGlhbHdvcmxkLm5ldFwvY29uc3VsdGluZ1wvZ3ctbWFya2V0LWluc2lnaHRzXC93cC1jb250ZW50XC91cGxvYWRzXC8yMDE4XC8wNFwvVG93YXJkcy1DcmVhdGluZy1hLUhpZ2gtVmFsdWUtSW1wYWN0LTEuZ2lmIn0%3D\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"600\" height=\"338\" src=\"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2018\/04\/Towards-Creating-a-High-Value-Impact-1.gif\" class=\"attachment-full size-full wp-image-178780\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Source: GeoBuiz-18<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-974704a e-con-full e-flex e-con e-child\" data-id=\"974704a\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-4957b27 e-con-full elementor-hidden-mobile e-flex e-con e-child\" data-id=\"4957b27\" data-element_type=\"container\">\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-94177e9 e-con-full e-flex e-con e-child\" data-id=\"94177e9\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-da89d40 para_h elementor-widget elementor-widget-heading\" data-id=\"da89d40\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What Next?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2cb49ec para elementor-widget elementor-widget-text-editor\" data-id=\"2cb49ec\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The economic impact of the geospatial industry is incredible and the multifarious opportunities available have not yet been tapped in its entirety. At the centricity of economics lies the potential of employing geospatial information and technology at the grassroots level to maximize the impact created. While the economic impact of the geospatial industry remains hidden, the impact of it can be felt in day-to-day lives by each and every citizen all over the world. The industry is spearheading a growth trajectory at an accelerated <b>rate of 13.6% to reach US$ 439.2 Billion in 2020<\/b>; it is expected that the economic impact is going to be augmented by manifolds. While developed countries are driving the global economic impact of the geospatial industry presently; the demand for geospatial solutions in the developing economies is going to drive the expansion of the geospatial user base and its adoption, thus driving the economic impact by significant margins.<\/p><p>To further understand the regional and global growth of the geospatial industry and the economic value impact it generates, download\u00a0<strong><a href=\"https:\/\/geobuiz.com\/geobuiz-2018-report.html\">GeoBuiz-2018<\/a>.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-61d35de elementor-widget elementor-widget-heading\" data-id=\"61d35de\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Share via:<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element 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href=\"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/?p=179379\" target=&quot;_blank&quot;>\n\t\t\t\tWhat is the GEOBIM Maturity Model?\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-178181 post type-post status-publish format-standard has-post-thumbnail hentry category-article tag-aec tag-aec-frontier-technologies tag-bim-3d tag-geobim tag-market-economy\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/?p=178181\" tabindex=\"-1\" target=&quot;_blank&quot;>\n\t\t\t<div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"400\" src=\"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2020\/05\/2.1.jpg\" class=\"attachment-full size-full wp-image-178357\" alt=\"\" srcset=\"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2020\/05\/2.1.jpg 1200w, https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2020\/05\/2.1-300x100.jpg 300w, https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2020\/05\/2.1-1024x341.jpg 1024w, https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/wp-content\/uploads\/2020\/05\/2.1-768x256.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/?p=178181\" target=&quot;_blank&quot;>\n\t\t\t\tAsia Pacific to Drive the US$ 117.59 Bn Global Geospatial Market in the AEC Industry\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Underappreciated geospatial technology surpassed revenue growth at US$2,210.7 Billion in 2017, with sectors like Transportation and Utilities leading. Copernicus program contributes EUR 30 billion to the European economy. Anticipated growth to US$439.2 Billion by 2020, fueled by developing economies&#8217; demand.<\/p>\n","protected":false},"author":2,"featured_media":178415,"comment_status":"open","ping_status":"open","sticky":true,"template":"elementor_header_footer","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[78,92,77],"class_list":["post-178708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-article","tag-geospatial-technologies","tag-global-geospatial-market","tag-market-economy"],"_links":{"self":[{"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=\/wp\/v2\/posts\/178708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=178708"}],"version-history":[{"count":163,"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=\/wp\/v2\/posts\/178708\/revisions"}],"predecessor-version":[{"id":182537,"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=\/wp\/v2\/posts\/178708\/revisions\/182537"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=\/wp\/v2\/media\/178415"}],"wp:attachment":[{"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=178708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=178708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/geospatialworld.net\/consulting\/gw-market-insights\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=178708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}