"Middle East Geospatial Analytics Market" now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Tue Nov 10 2015

Middle East Geospatial Analytics Market

The Middle East geospatial analytics market is estimated to grow at a CAGR of 18.7% during the forecast period of 2015-2020. Geospatial data has emerged as an essential source of information, empowering government as well as private organizations to make informed decisions about businesses as well as analyze disaster management, risk assessment and mitigation, climatic conditions, and urban planning. The concept of geospatial analytics is gaining immense popularity as it solves the issues associated with linking topographical data with maps, so that users can easily extract informational statistics or geographical co-ordinates with the help of the data obtained.

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In 2014, Kingdom of Saudi Arabia was the leading country in terms of market share in the Middle East geospatial analytics market. Enterprises are using geospatial techniques to develop business strategies by checking feasibility of products, testing geographical conditions that will affect their market, and identifying geographical locations for carrying out expansions. These techniques assist enterprises in the process of decision making. Technological advancements in geospatial data and analytics have increased the adoption of geospatial technologies such as global positioning system (GPS), remote sensing (RS), and geographical information system (GIS), among others.

The GIS and GPS sectors are rapidly-growing sectors in the Middle East region due to high levels of economic and industrial growth. According to the Qatar National Vision 2030, Qatar is expanding its smart city development projects by adopting various leading technologies, such as mobility, Internet of Things (IoT), and connected cars, among others. Geospatial analysis provides data for these technologies and is leading to an increase in the demand for GIS technology. As a result of increasing demand for these technologies, Qatar government has established the Center for GIS and GPS as a department of the Ministry of Municipality & Urban Planning.

In 2014, the surveying segment captured the highest market share among all application segments of the geospatial analytics market. Earlier, the key consumers for survey solution providers were oil & gas companies, mining industries, railways, utilities, government agencies and surveyors, but presently their customer base has widened with the inclusion of customers such as cadastral agencies and construction contractors.

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