Location – Aware Technology Industry Expected to Grow Exponentially in Coming Years

Source: investegate.co.uk

Companies in these sectors rely on geographic and location data as a core function of their business. According to a recent study by Market Data Center, the global geospatial market will grow exponentially over the next eight years, from USD 64.72 billion in 2021 to 153.25 billion in 2030. These advancements continually benefit from the ancillary software technologies used to contextualize both satellite data and on-the-ground geospatial data. The progress being made in the capabilities of location-intelligence software provides companies with new ways to collect and analyze geospatial data. Especially in the insurance industry, where location-aware technology is used to query property conditions remotely.