According to P&S Intelligence, Global Geographic Information System market is expected to reach $17.5 billion by 2023.
Increasing urbanization in addition to the surging adoption of GIS solutions in enterprise applications in developing countries is the key factor bolstering the demand for the system. The growth of the global GIS market can also be attributed to the implantation of LIDAR (light detection and ranging) technology and increasing availability of spatial data and cloud technology.
Market is expected to register the fastest growth in Asia-Pacific (APAC)
During the forecast period, the Geographic Information System market is expected to witness the fastest growth in APAC, owing to the increasing use of this technology by governments, and for water and wastewater management, in the developing countries of the region, including India and China. Increasing urbanization, supported by growing investments in smart cities, is expected to bolster the demand for the technology in the region in the coming years.
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