Geographic Information System Market Analysis 2023-2027: Expected Market Size, Growth Driver, And Lucrative Segments As Per The Business Research Company's Geographic Information System Global Market Report 2023

LONDON, Nov. 06, 2023 (GLOBE NEWSWIRE) -- In the ever-evolving world of Geographic Information Systems (GIS), the global market has witnessed substantial growth. In 2022, geographic information system market stood at $11.43 billion, and 2023 is poised for remarkable expansion, with an anticipated value of $12.94 billion, reflecting an impressive compound annual growth rate (CAGR) of 13.2%, as per The Business Research Company. The GIS market is expected to surge even further, reaching $20.82 billion by 2027, with a CAGR of 12.6%.

Defense-Related Satellites: The Driving Force

The future of GIS is intricately linked to an increasingly critical aspect: defense-related satellites. These artificial satellites are designed to bolster defense and security endeavors by providing invaluable information and capabilities to military forces. Geographic Information Systems harness the capabilities of these satellites to acquire spatial data, filter and analyze it, and present it in a comprehensible manner.

To put this in perspective, according to Jonathan's Space Report, a US-based space program researcher, there were 186 international space launches of defense-related satellites in 2022, with an impressive 182 of them being successful.

Learn More In-Depth On The Geographic Information System Market

The Pioneers of Innovation

Leading the charge in the GIS market are industry giants committed to innovation and excellence. Names like Google LLC, Hitachi Solutions Ltd., and General Electric Company, among others, are at the forefront of advancements in GIS. One ...

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