The Geographic Information System (GIS) market is steadily transforming from a discrete technological market, into a supporting software technology that is used in various industry-specific business development requirements. The wide use of geographic information system in research and development (R&D), analytics, and distributions has transformed the decision making methods, in many business processes.
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The GIS market has undergone several up and down phases, for instance post 9/11 terrorist attack in 2001, the governments in North American countries increased the GIS application in their homeland security system, whereas during the economic slowdown period governments in most of the European countries, stopped buying GIS to minimize the net trade deficit, during that time. In recent years, the demand of GIS solution is escalating mainly by the developing countries, such as China and India. The Indian government’s initiative Digital India Program is expected to boost the demand of GIS market in the coming years. The Government of India is expected to spend $600 billion, during 2015-2020 on the digital infrastructure, out of which, 50% investment is expected from the private sector companies. Moreover the upsurge in urbanization, along with the development of smart cities is expected to bring new market opportunities for the GIS market in the near future.
Based on type, the global information system market can be broadly classified as hardware, and software. Based on end users, the global geographic information market can be classified as oil and gas, biology, archaeology, environmental impact assessment, retail, urban planning, and others.
The technical up gradations such as adoption of HTML5 for online mapping, along with availability of open source geographic information in mobile devices, such as smartphones and tablets are expected to be the major drivers for the GIS market, during the forecast period. On the other hand, some of the limitations associated with geographic information system, such as integration of GID technology with cloud computing, along with premium pricing of the geographic information system is hindering its wide scale adoption. However, the price of GIS has declined in the last couple of years that is expected counterbalance the effect of market restraints, in the coming years. Retail and construction sectors remain the largest market for geographic information. These segments are also expected to witness robust growth, over the forecast period, due to the ongoing urbanization in the developing countries.
Europe and North America has been two of the biggest markets for geographic information system in 2014. The increased application of the geographic information system in retail, oil, and gas, and pharmaceutical industries in these regions are the key driving factors for the growth of this market. Asia pacific is expected to be the fastest growing geographic information system market, during the forecast period. The growing adoption of GIS in construction industry, along with the increasing market penetration in retail, is driving the demand of the geographical Information system market in Asia Pacific. The U.S., Canada, Germany, the U.K., France, Italy, Spain, India, China, Japan, South Korea, and Brazil are some of the major markets of the global geographic information system market.
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Some of the competitors in the geographic information system (GIS) market are Esri, MacDonald, Dettwiler and Associates Ltd., HEXAGON, Astrium (subsidiary of European Aeronautic Defence and Space Company) and Bentley Systems Incorporated.
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