Geospatial analytics is driven by growing adoption of Internet of Things (IoT)-enabled smart utility grids and infrastructure management. Geospatial data integrated with sensor data provide comprehensive insights for optimizing resource utilization, infrastructure planning, and predictive maintenance of utilities. Geospatial analytics help tackle challenges of aging infrastructure and rising energy demands by enabling smart metering, distribution automation, and demand response programs. Utilities leverage geospatial data to map energy and water distribution networks, monitor asset performance, detect non-technical losses, and forecast demand patterns. Advanced analytics of geospatial data helps utilities make informed decisions for demand supply management, outage management, and capital project management.

The global Geospatial Analytics Market is estimated to be valued at Us$ 73.36 Bn in 2024 and is expected to exhibit a CAGR Of 14% over the forecast period 2024 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Geospatial data integration with IoT is a key trend shaping the market. IoT-connected smart utility meters, distribution equipment and infrastructure generate streams of real-time sensor data that provide asset intelligence when combined with geospatial information through analytics. Several utilities are implementing AI and machine learning algorithms to derive insights from geospatial-IoT datasets for predictive maintenance, conservation through behavioral demand response and theft detection. Advances in geospatial analytics, Edge and cloud computing are also enabling utilities to realize value from emerging applications of augmented reality, digital twin simulations and spatial enterprise resource planning for improved grid management and service delivery.

Porter’s Analysis

Threat of new entrants: Low barriers to entry such as low capital requirements make the threat of new entrants moderate in the geospatial analytics market.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and differentiation in offerings from vendors.

Bargaining power of suppliers: The threat from suppliers is low owing to availability of substitutes and less dependency on few suppliers.

Threat of new substitutes: Threat from substitutes is moderate as other analytics such as predictive analytics can be used for certain applications.

Competitive rivalry: The competitive rivalry is high due to presence of many global and regional vendors offering differentiated solutions.

Key Takeaways

The Global Geospatial Analytics Market Demand is expected to witness high growth.

Regional analysis comprised Asia Pacific region currently accounting for largest share and also expected to grow at fastest pace during forecast period owing to increasing investments in infrastructure development and smart city projects in countries such as China and India.

Key players operating in the geospatial analytics market are Accell Group, Bodo Vehicle Group Co., Ltd, Butchers & Bicycles ApS, CERO Electric Cargo Bikes, DOUZE Factory SAS, Dutch Cargo Bike, G & O Family Cyclery, Gessato, Jinhua Jobo Technology Co., Ltd, Tern, Urban Arrow, Worksman Cycles, Xtracycle Inc, XYZ CARGO, and Yuba Bicycles LLC.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it