Geospatial Analytics AI Global Market Report 2024

The geospatial analytics AI market size has grown exponentially in recent years. It will grow from $0.08 billion in 2023 to $0.11 billion in 2024 at a compound annual growth rate (CAGR) of 31.4%. The growth observed in the historical period can be attributed to several factors, including the overall expansion of AI across various industries, a heightened necessity for surveillance and monitoring solutions, the rapid implementation of AI solutions, advancements in machine learning technologies, and a growing demand for more efficient operations. These factors collectively contributed to the adoption and growth of geospatial analytics AI during the historic period, reflecting the increasing recognition of its value in addressing complex spatial challenges and enhancing decision-making processes.

The geospatial analytics AI market size is expected to see exponential growth in the next few years. It will grow to $0.32 billion in 2028 at a compound annual growth rate (CAGR) of 30.9%. The anticipated growth in the forecast period can be attributed to various factors, including predictions about changes in land use, urban expansion, the rise in private agricultural practices, the transformative usage of AI, and advancements in remote sensing technologies. Noteworthy trends expected in the forecast period involve an increased use of AI and machine learning, the rise of cloud-based platforms, the expansion of applications in geospatial analytics AI, enhanced decision-making capabilities, and improved disaster preparedness and response mechanisms. These trends collectively contribute to the ongoing evolution and broader impact of geospatial analytics AI, showcasing its potential across diverse domains and applications.

The geospatial analytics AI market is anticipated to experience growth, primarily driven by the increasing growth in internet penetration. Internet penetration, representing the percentage of the population or a specific demographic group with access to the internet, has become a key factor in facilitating widespread connectivity, information access, communication, and economic opportunities. Geospatial analytics AI plays a pivotal role in analyzing and understanding spatial patterns of internet usage. This technology enables targeted interventions and infrastructure development to enhance connectivity in underserved areas and optimize resource allocation for improved digital inclusion. According to the International Telecommunication Union (ITU), global internet penetration reached an estimated 66% of the world's population in 2022, marking a 6.1% growth over the previous year. The anticipated growth in internet penetration is expected to drive the expansion of the geospatial analytics AI market.

Leading companies in the geospatial analytics AI market are actively developing advanced technologies, including geospatial and AI platforms for scenario planning and monitoring. These platforms combine geospatial technology with artificial intelligence (AI) to analyze and interpret data related to geographic locations. AI enhances the computational power and predictive abilities of this framework, allowing the extraction of valuable insights from vast amounts of geospatial data. In January 2024, Deloitte Touche Tohmatsu Limited launched a geospatial and AI platform powered by Google Cloud, utilizing generative AI technology from Vertex AI. This platform aids clients in improving planning processes for disaster response, infrastructure development, and urban planning by providing insights on land use, contributing to more sustainable decision-making.

In February 2022, AiDash Inc., a US-based technology company, acquired Neurafarms.ai to strengthen its position in leveraging satellites and AI to revolutionize operations, maintenance, and sustainability for core industries. This strategic acquisition enhances AiDash's capabilities, particularly in data science and remote sensing, allowing for the improvement of existing products such as the Disaster and Disruption Management System (DDMS). Neurafarms.ai, based in India, specializes in providing geospatial and AI-backed farming solutions through a cloud-based platform.

Major companies operating in the geospatial analytics ai market are Alphabet Inc., Microsoft Corporation, Amazon.com Inc., Intel Corporation, IBM Corporation, Oracle Corporation, SAP SE, Presto Automation Inc., NVIDIA Corporation, Baidu Inc., Hexagon AB, Trimble Inc., DigitalGlobe Inc., Environmental Systems Research Institute Inc., Bentley Systems Inc., Databricks Inc., CE Info Systems Ltd., Dataiku Inc., Climate X, Genesys International Corporation Ltd., Geoblink SL, L3Harris Geospatial Solutions Inc., Climate X Ltd., Chloris Geospatial Inc., Skydweller Aero Inc.

Asia-Pacific was the largest region in the geospatial analytics AI market in 2023. The regions covered in the geospatial analytics ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the geospatial analytics ai market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Geospatial analytics artificial intelligence (AI) involves the incorporation of AI techniques and algorithms to analyze and derive insights from geospatial data. In this context, geospatial analytics AI systems process extensive geographical data to extract meaningful patterns, trends, and correlations. By doing so, these systems empower organizations to make data-driven decisions and address complex spatial problems across various domains. The integration of AI in geospatial analytics enhances the efficiency and accuracy of processing and interpreting geographic information, enabling more informed decision-making in areas such as urban planning, environmental monitoring, and resource management.

The main types of geospatial analytics AI include navigation satellite systems (GNSS), remote sensing, geo-tagging, and others. Navigation satellite systems (GNSS) constitute a network of satellites providing positioning, navigation, and timing data to users on or near the Earth's surface. Solutions within this domain encompass various types such as hardware, software, and services, and can be deployed both on the cloud and on-premises. Geospatial analytics AI is utilized across diverse applications, including real estate, sales and marketing, coastal applications, agriculture, fraud detection, surveying, hazard assessment, natural resource management, transportation and logistics, national labs, and more. These applications showcase the versatility and broad impact of geospatial analytics AI across numerous industries.

The geospatial analytics AI market research report is one of a series of new reports that provides geospatial analytics AI market statistics, including geospatial analytics AI industry global market size, regional shares, competitors with a geospatial analytics AI market share, detailed geospatial analytics AI market segments, market trends and opportunities, and any further data you may need to thrive in the geospatial analytics AI industry. This geospatial analytics AI market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The geospatial analytics AI market includes revenues earned by entities by providing services such as spatial data processing, predictive modeling, real-time monitoring, and image recognition and analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The geospatial analytics AI market consists of sales of GPS (Global Positioning System) receivers, light detection and ranging (LiDAR) scanners, cameras, and unmanned aerial vehicles (UAVs). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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