Increasing Adoption of Geomedicine Solutions to Fuel Market Growth
Geospatial solutions collect, manage, organize, and store data pertaining to geographic information such as zip codes, addresses, or latitudinal and longitudinal coordinates to a location. This includes data accumulated by satellites, digital and analog maps, and street and aerial imagery. Some instances of geospatial solution technologies include Global Positioning Systems (GPS), Geographic Information Systems (GIS), imagery analysis, and remote sensing.
Geospatial data includes information regarding phenomena, events, or objects that have distinct locations on the earth. Such locations can be static as well as dynamic. Data accumulated by geospatial solutions combine attribute information, location information, and/or temporal information. The global geospatial solutions market is estimated to register a noteworthy compound annual growth rate during the forecast period of 2019 – 2029.
Geomedicine can produce a new form of medical intelligence that uses national geospatial solutions data infrastructures in order to benefit personal human health. After understanding conditions of the environment people live in (or have lived in the past), this information can be used to modernize health information technologies, and be used to make better choices about where people should live. Geospatial data and geospatial solution technology are the core ingredients in creating the new medical intelligence that underpins geomedicine.
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Emphasis on Spatio-Temporal Data to Boost Use of Geospatial Solutions
Real-time spatio-temporal information is being generated in almost every sector. Though new applications of real-time spatio-temporal data are being discovered rapidly, the capability of end-users to continuously interact with this data in real-time is a comparatively recent phenomenon. Such innovations are operating as core change agents in cartography, geography, and GIScience, among other related geospatial fields.
Real-time analytics for spatio-temporal data is realigning traditional structures and relationships, expanding research horizons, and transforming the ways in which geographic information is being collected, modeled, and utilized in geography, science, and society. These immediate interactions between space and time remain as underlying processes, which result in accelerated generation of fused spatio-temporal data, myriad mobile geospatial applications, and new geographic research initiatives in governments and businesses.
Rising Adoption of Innovative Mobile Geospatial Sensor Platforms
The ability to create miniaturized and comparatively less expensive sensors and devices, integrated with wireless connectivity technologies, is fueling the demand for Internet of Things (IoT). Adoption of lower-cost miniaturized sensors and devices leads to an increasing demand for data accumulation, data manipulation, and data analysis technologies. Application-centric specifications of such sensors and devices offer the capability to attune components to the specific data collection required.
Advancements in miniaturization of solutions have made it easy for end-users to explore new modal qualities for sensor and device distribution such as Unmanned Aircraft Systems (UAS)/Drones and small satellites, which can be rapidly manufactured and deployed with flights or orbit paths tailored as per specific mission requirements. Such mobile geospatial solutions platforms greatly enhance abilities of businesses, governments, and individuals to accumulate high volume of remotely collected data for diverse mission-critical purposes, such as environmental monitoring, disaster response, and public safety.
Geospatial Solution Market in North America to Hold Significant Position
North America was the dominant market in 2018 in terms of value for geospatial solutions. The United States is expected to be one of the key markets for sustainable revenue generation from geospatial solution deployments in the foreseeable future, owing to the rapid adoption of intelligent components for defense and internal security, infrastructure, and citizen services related end-uses.
Accelerated adoption of efficient geospatial solution platforms is anticipated to enable the South Asian market to record a significant CAGR during the forecast period, while the geospatial solution market in Europe region is estimated to offer the highest incremental opportunity among all the regional markets, during the forecast period.
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Geospatial Solution Market Structure Analysis
- Various processes of bringing services and solutions to the public have evolved significantly over the past few years, owing to the changes in customer preferences, along with the rapid growth in the e-commerce arena.
- Today, the capability of tracking inventory and shipments remotely makes a business’ supply chain more efficient, thus saving money for businesses that use geospatial solutions. For instance, agro-products are harvested on small farms and later distributed to grocers, provision stores and supermarkets in different locations, often crossing state or even national boundaries.
- Developers are offering geospatial solutions that can keep supply chain and agricultural professionals informed about when the products left the farm, the routes of travel, and their condition upon delivery.
- In case the products look unappetizing upon delivery, the professionals can trace the route all the way back to the farm, and enhance the entire delivery system. Such applications of geospatial solutions are estimated to propel geospatial solution adoption during the forecast period.