According to the report, the global GIS software market was valued at $3.24 billion in 2017 and is expected to hit $7.86 billion in 2025, registering a CAGR of 11.8% from 2018 to 2025.
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Increase in adoption of GIS for facilities management, integration of GIS with mainstream technologies for business intelligence, rise in demand for GIS software for smart cities development, and urban planning have fueled the growth of the global GIS software Market. On the other hand, high cost and availability of open-source GIS software have hampered the growth to some extent. Nevertheless, adoption of advanced technologies such as AR, VR, and IoT for GIS, emerging technologies such as geospatial AI, and development of 4D GIS Software have created a number of opportunities in the market.
Based on region, North America contributed to more than one-third of the total market in 2017 and is expected to dominate throughout the forecast period. The factors contributing to the highest share of this market in the region include large amount of data generated everyday by multiple organizations and adoption of advanced technologies as well as digitalization.
The key market players analyzed in the report include Autodesk, SuperMap, Trimble, ESRI, Hexagon AB (Intergraph), Pitney Bowes, Caliper, Computer Aided Development Corporation Limited (Cadcorp), General Electric Co., and Bentley System. They have adopted several high-end strategies and have become successful in retaining their strong hold in the industry.
Based on end-user, the transportation and logistics segment accounted for nearly one-fifth of the total market in 2017 and is anticipated to remain dominant by 2025. Increase in adoption of advanced technologies such as connected cars, advanced telematics, and navigation systems has spurred the growth. Simultaneously, the agriculture segment is projected to grow at the highest CAGR of 14.0% during the study period.
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