The market for geospatial analytics has grown significantly because of integration with other technologies, like ML, IoT, and others. Business experts expect the highest CAGR for Network & Location Analytics of all the market segments during the forecast period. Businesses commonly used network and location analytics in the logistics and transportation sector to address complex routing problems. The network & location analytics market is growing significantly because of trends such as the rise of IoT, increased emphasis on market and competitive intelligence, and the expansion of spatial data across verticals. Data integration tools are required to combine data from several heterogeneous sources for corporate insight and to enhance client services.
Esri offers a statistics modernization program, which includes discounted access to and usage of ArcGIS technology, to national statistics agencies in a few select developing nations. Esri and UNFPA have committed to working together to create lesson plans, guides for best practices, data models, and other instructional materials to support national statistical offices in carrying out this crucial task. National statistics offices and Esri have worked together for a very long period to understand how to combine statistical and geographic data. In 2020, UNFPA developed the UNFPA COVID-19 Population Vulnerability dashboard using Esri technologies. Esri develops the most innovative solutions for digital transformation, the Internet of Things (IoT), and sophisticated analytics because of its ground-breaking dedication to geographic information technology.
In order to conduct intricate visualization and simulation scenarios that draw context from the digital twins, V5D makes use of game engine technology and artificial intelligence. It differs from previous digital twin technologies because of the V5D gaming engine and AI capabilities. Users can publish the digital twins on the Presagis cloud platform for simple access and collaboration within the company and among various entities.
The tremendous difficulty that online shoppers in Africa are currently facing is how to get their packages delivered to their homes, towns, or villages, given that more individuals can shop online than ever before. The next online retail harvest will come from Africa, but businesses must first figure out how to solve the distribution conundrum. High-quality geospatial data is crucial. In Africa, address information is typically available. They linked it to administrative structures, including national, provincial, county, and state boundaries, after integrating it into a database that complies with international geographic address standards. The most hard task has been collecting and cleaning the administrative data levels—the districts, suburbs, and street level data—that are underneath those layers.
Drone technology can give an impetus to the economy by adding value to many sectors. Clearly, drone technology can affect life on ground and throw light on aqua life through satellite imagery. It means that the drone technology should be powerful enough to achieve the desired results. AI-based drone data can facilitate various forms of transport to take informed decisions for routing journeys. Geospatial, computer science and location intelligence, along with drone technology, can give a value add to industries.
The National Geographic Database, maintained by OS, now contains half a billion geographic features with centimetre level accuracy and is updated over 20,000 times a day to keep up with changes. As these use cases have also showed, location data comes into its own when used as a backbone for pulling disparate data sets together to learn about the relationships between variables of an environment.But location intelligence is a major driver of sustainability efforts too. Geovation, a recent OS initiative in association with HM Land Registry, provides start-ups with grant funding, access to data, geospatial expertise and land and property information.The content OS generates is leveraged by not only the government and the public and business sectors of the United Kingdom, but also other countries around the world. OS is increasingly providing geospatial data for large-scale energy and sustainability projects such as the National Underground Asset Register.
Enterprises, meanwhile, have long used geospatial data to attract as many customers as possible, informing decisions such as where to open a new retail outlet. A lot of insurance applications for geospatial data produce more insights into the complex environment of climate change. There is a need for smart city solutions and an open community of geospatial interest.
Integrating geospatial analytics with other technologies such as ML, IoT, and more, the market for geospatial analytics had experienced tremendous growth. The Data Integration & ETL solutions are growing at the highest CAGR of 13.8% during the forecast period. These solutions aggregate data from several heterogeneous sources for business intelligence and to improve customer services. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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.
ROSHN, the Kingdom of Saudi Arabia’s national real estate developer, backed by the country’s Public Investment Fund (PIF), supports government efforts to increase the rates of homeownership while delivering high-quality living standards. The Saudi Arabia developer builds communities that look both to the nation’s heritage and growing resident aspirations. The agreement enables ROSHN to adopt Esri’s suite of geographic information system (GIS) products and solutions to improve the planning and development of 200 million square meters of sustainable neighbourhoods across Saudi Arabia. “This is an incredibly exciting development for ROSHN and the wider real estate sector,” said Sabah Barakat, ROSHN’s chief operating officer. “This will also support the transformation and development of geospatial practices and adoption of data standards within the region,” he added.