Global GIS market ‘to reach $23.7b by 2024’

Global GIS market ‘to reach $23.7b by 2024’

Global GIS market ‘to reach $23.7b by 2024’

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The Global Geographic Information System (GIS) market size is expected to reach $23.7 billion by 2024, rising at a market growth of 13.5% CAGR during the forecast period, according to a new survey.

Geographic Information System is a tool that is used to collect, manages, analyze and provide required information for managing raw information as per the requirement of end-users.

The report published by KBV research, the Global Geographic Information System (GIS) Market size is expected to reach $23.7 billion by 2024, rising at a market growth of 13.5% CAGR during the forecast period.

The report authors says that With technological advancements, the price of GIS system is expected to decrease in years to come. “This would offer wide-ranging opportunity for the developing and underdeveloped economies to adopt such system to minimize the security concerns among the citizen of that country”, the report says.

The North America market holds the largest market share in Global Disaster Management Geographical Information System Market by Region. North America is a region that adopts new technologies relatively early than other regions. Factors such as technological advancements and increasing adoption of geographic information system in industries such as telecom, government agencies and financial sectors among others are the major drivers for the GIS in the North America region.

The Europe market is expected to witness a CAGR of 11.7% during (2018 – 2024) in Global Land Information Geographical Information System Market. Healthy economic condition is one of the major factors driving the implementation of GIS in the European region. Government regulations pertaining to securing of data paired with increasing infrastructure investments would further drive the GIS market in the region. Additionally, The Asia Pacific market is expected to witness a CAGR of 17.6% during (2018 – 2024) in Global Map Viewing (Cartography) Geographical Information System Market.

The Utilities market holds the largest market share in Global Geographical Information System Market by Vertical during the forecast period. The Healthcare market would garner prominent growth during the forecast period.

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