LAMEA Geographic Information System Market Trends | 2030

Report Description

The LAMEA geographic information system market is expected to register a robust CAGR during the forecast period, between 2021 and 2028. A geographic information system (GIS) refers to a computerized software that helps in analyzing and displaying geographically referenced information by using the data attached to a specific location. With the help of geographic science, GIS helps people and organizations to reach a common goal and gain intelligence from a pool of data. Data layers of spatial locations such as imagery and features that are linked to spreadsheets and tables can be obtained by the technology. Using the spatial data and the integration of this data with the GIS technology, several apps are available, which can be installed on the users’ phones or tablets and the maps can be accessed easily.

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Market Trends, Drivers, Restraints, and Opportunities

• Increasing demand of location-based analysis for efficiency and enhanced decision making are driving the market growth.
• Development of various smart city projects and urbanization have resulted in the rising needs for collaboration of geospatial data and technology with the conventional technology. This leads to offer software enhancement, which further propels the market.
• Requirement for prediction and identification of natural disasters to avoid calamity and minimize damage has increased the need for GIS technology. This is expected to boost the market in the coming years.
• Location intelligence helps in mapping and analysing the geographical outbreak of the coronavirus disease. This is further projected to accelerate the market growth during the forecast period.
• High cost of the GIS technology and increasing installation costs are key challenges that can hamper the market growth during the projected timeline.
• Increasing government applications of GIS and smart city projects using GIS for sharing real time awareness and visualization of the map are projected to offer lucrative opportunities for market growth.

Scope of the Report

The report on the LAMEA geographic information system market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

LAMEA Geographic Information System Market Segment Insights

Increasing government expenditures drive the public sector

Based on end-users, the LAMEA geographic information system market is bifurcated into private sector and public sector. The public sector accounted for a significant share of the market in 2020 and is expected to exhibit high CAGR during the forecast period. The segment growth is owing to increasing expenditures of the government on accessing geographic data for mapping and defense purposes. Governments across the globe mostly use geographic information to improve their workflow and provide efficient services to the citizens. Geopolitics or military defense uses GIS to ensure security and national safety by accessing maps and gain intelligence about geographic topography and borderline security. Moreover, GIS based data are frequently used by governments for taxation, property record keeping, and management and assessment. The private sector, however, is projected to register a rapid growth rate due to wide adoption of the GIS technology by private business organizations for managing grids, tracking pipelines, cable and wire locations, and transportation purposes.

Technological advancements have propelled the growth of the software segment

On the basis of types, the market is classified as service, software, and data. The software segment is projected to witness robust growth during the forecast period. Geological data can be integrated and collaborated with advanced technologies to create software applications. These apps can be installed on the smartphones and tablets of the users, who can avail such facilitates to get easier access and wide application of geographic information. GIS converts raw data into organized and systematic categories to allow ease of use and a user-friendly approach. Geologically based applications involve maps and directions that can provide users with accurate navigation. The developments in the information technology industry have significantly impacted the GIS market owing to the integration of better technologies for navigation, transportation, and other purposes.

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Increasing security concerns accelerate the growth of military & defense segment

In terms of applications, the LAMEA geographic information system market is categorized as military & defense, disaster management, map viewing, infrastructure, business information, land information, and mineral exploration. The military & defense segment is expected to account for a significant market share in the coming years owing to the development of geospatial data for security purposes among major economies. Several governments use this data and smart information for maintaining safety and security as the data is used by military organizations to facilitate efficient border security and provide military logistics. The movement of supplies, equipment, and troops can be efficiently carried out with the help of geographical knowledge.

Connectivity of roads and industrialization drive the transportation segment

Based on verticals, the market is segmented into financial services, transportation, government agencies, retail, oil & gas, healthcare, utilities, and telecommunication. The transportation segment is anticipated to hold significant market share in the coming years owing to high urbanization and road construction projects across developing countries. Smart city projects and development of better roads and infrastructure create the need for navigation and planning of new routes. GIS data and technology can be used by the transportation vertical to analyze and manage economic, demographic, and cost estimations for the construction and planning of new roads.

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Growing population and urbanization has surged the market in Latin America

In terms of regions, the LAMEA geographic information system market is bifurcated into Latin America and Middle East & Africa. The main countries that play a significant role in the market in LAMEA are Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and the rest of LAMEA. Growing population and urbanization in Latin America has resulted in the development of many smart city projects, which in turns, increasing the use of GIS technology for planning and road mapping in the region. Moreover, the rise in income of a large number of the population in the region has resulted the emergence of many businesses and startups that use GIS technology for a variety of purposes such as planning, transportation, extraction, and others.