This week, we present an overview of the Geospatial analytics market for the Middle East, Africa, and South America.
The geospatial analytics market is expected to grow at an annual compound growth rate of 16.84% during 2019-2027.
The Middle East and Africa region is the second-largest market for cell phones. For example, the United Arab Emirates and Saudi Arabia have one of the highest smartphone adoption rates. The booming of the geospatial analytics market in this region also directly reflects the economic situation and actions taken by some governments.
UAE, Saudi Arabia, Turkey, and South Africa are the most advanced countries in the Middle East and Africa's geospatial analytics market. In 2018 Saudi Arabia dominated the geospatial analytics market, followed by Turkey.
GIS and RS technologies have been widely adopted in the UAE, especially in relation to the complex nature of tourism resources in the country. Existing geographic data system data layers have been used to recognize sensitive natural environments and archaeological heritage resources that are endangered because of rapid urbanization, protect them, and redirect growth in other areas.
In Saudi Arabia, IT companies depend on various data, such as social media data, text data for analytical purposes. Geospatial analytics has emerged as a vital data source for project planning and implementation, reducing workload, generating effective business forecasts, and updating sustainable strategies.
Regarding South Africa, looking at the economic growth of the region and the situation of the government (with GDP increasing from 4.7% to 5.2% in the last years and FDI growth of 16%, reaching $43 billion), the market is expected to grow at the highest CAGR during the next five years.
The geospatial analytics market in Latin America is expected to grow in revenue and expand at a CAGR of 17.31% during the forecast years 2019-2027.
The location intelligence market in Latin America supports government policies, investments, and funding from the national governments in this region.
Brazil has the largest manufacturing sector in Latin America. Moreover, increasing the retail market with growing economic conditions leads to a consequent increased demand for geospatial analytics services in the country.
We highlighted the following companies looking at the South American market: Cognatis and Spectro Location Intelligence (Brazil) and Geoint (Ecuador).