What’s inside Geospatial World’s US Geospatial Market and Economy Report 2024?

The inaugural edition of Geospatial World’s US Geospatial Market and Economy Report 2024 offers comprehensive insights into the US geospatial market, covering aspects of trade, commerce, the economy, and socio-economic impacts. This report compiles critical performance metrics of the United States geospatial market, drawing from extensive expertise and recognizing the country's leadership in technological innovation, business model refinement, integration of vertical workflows, and the transformative changes within National Geospatial Agencies and policy frameworks. It provides estimates and forecasts of market size while thoroughly analysing the broader impacts of geospatial and allied technologies.

In our analysis, we highlight significant industry developments, emerging opportunities, and challenges. The report identifies data and application whitespaces, and untapped areas within the industry for potential exploration and articulates Geospatial World’s perspectives on pivotal themes influencing the sector. These insights are derived from engagements with over 350 industry leaders, analysis of financial reports for the fiscal year 2023, and scrutiny of more than 300 case studies on geospatial implementations across the United States.

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Intro

Discover What’s Next:
Answers for Today’s Geospatial Industry Leaders

For Industry Leaders
  • What are the projected market size and growth forecasts for the United States geospatial sector, and how should businesses prepare to capitalize on this expansion?
  • How will evolving trends in trade and commerce impact the United States geospatial market, and what strategies can companies adopt to thrive in this changing landscape?
  • What are the identified white spaces within the United States geospatial market, and how can industry leaders leverage these opportunities to foster innovation and gain a competitive edge?
  • With the current dynamics in mergers, acquisitions, and partnerships, what strategic moves should industry leaders consider to enhance their market position and operational capabilities?
  • How are the latest market and technology indicators expected to drive innovation and investment in the United States geospatial industry over the next five years?
For Government Stakeholders
  • How does current policy alignment effectively support industry growth within the United States geospatial sector?
  • What federal programs are most effective in driving advancements and expansions within the geospatial market, and what is their potential impact in the growth of the geospatial market?
  • What does an analysis of federal contracts reveal about spending patterns and types of contracts, and how do these contribute to market development in the geospatial industry?
  • How significant is the contribution of the geospatial sector to the national economy, and what strategies are recommended to amplify this impact?
  • What are the socio-economic impacts of deploying geospatial technologies, and what recommendations can be made to enhance their positive effects on society and the economy?
For Users
  • How do the maturity models for geospatial technology application vary across key sectors such as Telecom, Energy, Infrastructure, Disaster Management, and Water, and what does this imply for technology adoption and investment?
  • In what ways is geospatial technology being integrated into the operational workflows of focus sectors?
  • What are the identified white spaces in application and data utilization within sectoral workflows, particularly in Telecom, Energy, Infrastructure, Disaster Management, and Water sectors?
  • How are specific sectors like Telecom, Energy, Infrastructure, Disaster Management, and Water uniquely leveraging geospatial technologies, and what best practices can be adopted from these sectors?
For Academia and Research Organizations
  • What are the prevailing job roles within the geospatial industry, and how are these roles evolving in response to technological advancements?
  • Which specific skill sets and academic degrees are increasingly required in the geospatial industry, and how do these requirements align with current educational offerings?
  • Which sectors are showing significant potential for employment growth in the geospatial field, and what makes these sectors particularly promising?
  • What are the best case practices being employed by leading educational institutions to prepare students for successful careers in the dynamic geospatial industry?

Key Findings from the Report

2023 United States Geospatial Market: Valuation and Strategic Outlook

In 2023, the United States geospatial market was valued at USD 133 billion, reflecting the intrinsic value of geospatial technologies in enhancing operational efficiencies across key economic sectors within the country. This valuation underscores the importance of geospatial and space technologies in the forthcoming decade, supported by national programs initiated by federal agencies.

USD 133 Bn (est.)

2023 Market Size, up by 15%

United States Geospatial Market: Expected Growth to USD 393 Billion by 2030

The United States geospatial market is projected to grow at a CAGR of 15-17 percent, reaching USD 393 billion by 2030. This sustained growth suggests that, although the market may become saturated, continuous innovations, expanding applications, and a national strategic vision are likely to drive consistent market expansion.

USD 393 Bn (for.)

2030- Market Size Forecast

Billions Invested in United States Geospatial, Space and AI Innovation (2019-2024)

In 2023, investors significantly reduced their capital infusion into startups compared to 2022. However, during the period from 2019 to Q2 2024, the United States geospatial, space, and AI industry received total funding and investment amounting to USD 143 billion. Of this, approximately USD 96 billion was directed toward the core geospatial and space industry, with the Earth Observation and GNSS and Positioning segments receiving record investments.

USD 143 Bn

Cumulative Funding/Investment Between 2019-2024 in Geospatial, Space and AI

GEOSPATIAL AND SPACE ECONOMY: POWERING AMERICA

The United States, geospatial and space (especially the downstream) economy accounted for USD 185 billions of gross output, USD 133 billion (0.49 percent) of United States 2023 GDP, approx. USD 12 billion dollars in geospatial industry compensation, and up to 1,080,000 in employment.

USD 185 Bn

United States Geospatial Economy in 2023

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