REPORT HIGHLIGHTS:

Indian Geospatial Market

• India’s geospatial commercial industry market in 2021 is estimated to be INR 14,050 crore, and is estimated to grow at a modest CAGR of 13.8% to INR 23,200 crore in 2025.
• The growth of the India geospatial market is attributed to the positive sentiments infused in the market by –
  • India’s swift economic recovery to 90% of the pre-pandemic levels;
  • critical announcements by the Government of India for liberalization and democratization of geospatial data;
  • increasing interest of leading geospatial industry players to expand their businesses in Indian geospatial market, and
  • strategic push by the government of India to adopt latest geospatial technologies.

• The use of geospatial information and technology in India is still highly driven by archetypal sectors like Defence and Intelligence, Urban Development and Utilities which account for the largest share of the geospatial market pie in 2021, i.e., 37.98% of the total geospatial market.
• By 2025, Transport Infrastructure and Land Administration will be priority sectors for the geospatial industry owing to schemes like National Infrastructure Pipeline (NIP), Gati Shakti – National Master Plan for Multi-modal Connectivity and the SVAMITVA scheme.
• The key challenges faced by the geospatial industry of India includes
  • payment delays in government projects,
  • lack of exposure to benchmark use cases and training, and
  • lack of dynamic and technology-sound tender procurement guidelines
• Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) are going to be the technology game-changer for the Indian geospatial industry.

Geospatial Industrial Development Strategy Impact on Economy

The geospatial reforms and policy imperatives taken by the Government of India will have a significant impact on the Indian geospatial market and economy. In addition, Geospatial World proposes the development of a dedicated India Geospatial Industrial Development Strategy, which would augment the Indian geospatial market and economy exponentially. If implemented, a strategy and a supporting body may lead to the Indian geospatial economy growing to approximately INR 80,000 crore by 2025 (a CAGR of 19.6% from 2021 market and economy values), with approximately 18,00,000 people employed in the sector!