Ananyaa Narain, VP-Consulting, Geospatial World with a very detailed presentation laid emphasis on the factors that are driving the India-Europe Trade.
She said, “From service providers, to data and system integrators, the geospatial industry ecosystem, is evolving at a rapid pace.
She also lays down the factors driving the “Geospatial trade between India and Europe”:
- India offers affordable and cost-effective geospatial data processing and other geospatial services to foreign companies.
- The leading Indian services and solutions companies providing geospatial services are establishing their commercial base in Europe and UK.
- India does not have ‘indigenous’ manufacturing hub of geospatial technology- and provides opportunity for European geospatial and space technology companies to export to India.
- India’s IT and IT-Enabled Services (ITes) Exports is expected to rise to 2-4% by 2030- with significant proportion to European Markets.
She highlights some of the prominent threats impacting the Indian Geospatial industry currently include Global Economic Downturn, workforce skill-gap, geopolitical uncertainties, national security concerns, Digital vulnerability and cybersecurity, Stifling legislative environment, technology-knowledge gap in users, data security and privacy concerns, disruptive innovations and compliance risks.
She added, “Sectors across India are not just looking at geospatial adoption, but also at services and solutions growth.”
Market Outlook of Indian Geospatial Ecosystem
Indian geospatial industry ecosystem has evolved from just being a service provider or surveying-mapping service provider country to a data- product and system-integration provider country.
She also said that the geospatial industry ecosystem is undergoing evolution and her presentation also emphasized the market changes, its size, challenges faced and opportunities that can be tapped into.
Indian domestic geospatial market is going to be USD 4 billion by 2028. And the following points are the main causes of its growth:
- The enhanced impacts of the National Geospatial Policy and the Indian Space Policy
- The increasing embedment of geospatial across national programs
- Systematic shift towards solutions industry from a services ecosystem
- Growth of indigenous companies is what going to cause the market growing
There has been a significant change in the Indian geospatial ecosystem due to conducive policy enablement.
