Want to know why you should consider a career in GIS and Geospatial Analytics?
Well, a recent article on the Geospatial World Blog, entitled “The global GIS and Spatial Analytics market to touch US$88.3 Billion by 2020,” offers a succinct summary of where the geospatial market is headed. Geospatial World is the media and public relations arm of Geospatial Media & Communications.
According to the article, GIS is experiencing exponential growth. It states, “…GIS is used virtually in every field, adding value to practically every business segment and application areas.” The article references the GeoBuiz-19 report to discuss the Global Size, Regional Share, Innovations and Future of the GIS and Spatial Analytics Market.
The article claims the GIS and Geospatial Analytics market “is expected to grow from US$ 66.2 Billion in 2017 to US$ 88.3 Billion in 2020 growing at a CAGR of 12.4%.” The article also claims 3D GIS is becoming more popular, especially as China and India develop Smart Cities and use GIS for 3D urban mapping.
In the GIS and Geospatial Analytics market, the article claims the North America region continues to be the major shareholder, with the expectation to hold 41.1% market share in 2020, according to the GeoBuiz-19 report. This represents a slight fall from its 2017 total market share of 43.3%. This shift is due in part to the fast growth of the Asia-Pacific region, which is “expected to grow at a much faster pace than all other regions, capturing approximately 26.9% of the total…market in 2020.” The article claims this growth is driven by the collaboration of “government, the private sector, entrepreneurs, planners and decision makers, and academia and institutions.”
Technology + Business Innovations
Innovations are a regular occurence in the GIS and Geospatial Analytics market. The article highlights some important breakthroughs:
- “Web and Cloud GIS-based applications are enabling users to easily access and process large chunks of geospatial data;
- Integration of GIS, 3D modeling, and virtual reality holds immense promise for domains like infrastructure and urban planning;
- Mobile GIS has made the technology more user-friendly;
- Real-time streaming of data is now a reality; and
- The transition from the traditional 2D maps to 3D maps.”
The skies are blue for the GIS and Geospatial Analytics market. The article claims the market will continue to experience growth, mostly driven by developing countries. It states, “As these economies strategize and digitize their citizen services in entirety, GIS is going to be crucial to maintain transparent and efficient service delivery.”
NC State has been a pioneer in geospatial analytics for years. We recognize the market potential of this robust field and offer students adaptable and innovative educational and research experiences to ensure they can take advantage of everything this article highlights. Check out our programs and learn more about how NC State’s Center for Geospatial Analytics leverages our position in this growing market.
Check back to the GIST Online Blog in the fall as we will take a short summer break.