Rising business investment in GIS solutions and adoption of GIS in the transportation industry is expected to fuel the growth of the market.
PORTLAND, PORTLAND, OR, USA, August 4, 2022 /EINPresswire.com/ — Rising adoption of GIS software for facility management, integration with consumer technologies for business intelligence, and demand for urban planning and smart city development are driving the growth of the Indian GIS software market.
However, the availability of open source GIS software is hampering the growth of the market. On the other hand, the development of 4D GIS software and the implementation of advanced technologies such as VR, AR and IoT for GIS present new opportunities in the coming years.
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On the basis of components, the software segment accounted for more than two-thirds of the total market share of the Indian GIS software market in 2018 and is expected to retain the dominating share in terms of revenue throughout the forecast period.
This is attributed to cost effectiveness and rapid deployment. However, the services segment is expected to experience the highest CAGR of 19.4% from 2019 to 2026, owing to its increased need for managed services and professional services across various industries.
Based on functions, the mapping segment held the largest share, accounting for more than one-third of the Indian GIS software market in 2018, and will maintain its leading position during the forecast period.
However, the navigation and telematics segment would register the fastest CAGR of 18.2% during the forecast period. This is due to the unique features offered in digital mapping that allow users to identify location on streets.
On an end-user basis, the transportation segment held the highest share based on revenue in the Indian GIS software market, contributing more than one-fifth of the total market share in 2018, and is expected to maintain its leader status during the forecast period.
This is attributed to the increase in the adoption of location-based services as well as wireless communication to obtain real-time traffic information. However, the agriculture segment would have the highest CAGR of 18.6% from 2019 to 2026, due to the use of GIS tools and online web resources for farmers to make crop forecasts and manage agricultural production activities.
Impact of Covid-19 on Geographic Information System (GIS) Software Market in India:
• GIS software has been useful to epidemiologists during the Covid-19 pandemic to determine the occurrence of the disease according to various parameters such as demographics, geography and past occurrences.
• Additionally, GIS helps public health agencies, administrators, and policy makers determine outbreak patterns in real time. This can further contribute to the implementation of control, prevention and surveillance measures as well as increasing health care capacities.
• Knowledge gained from GIS software enables companies to assess conditions and allocate resources to continue operations during the pandemic.
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Main benefits for stakeholders:
• The study provides an in-depth analysis of the India GIS Software market forecast along with current and future trends to elucidate the impending investment pockets.
• Information on major drivers, restraints and opportunities and their impact analysis on the India GIS Software market size is provided in the report.
• Porter’s Five Forces analysis illustrates the power of buyers and suppliers operating in the industry.
• Quantitative market industry analysis for the period 2018-2026 is provided to determine the market potential.
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