Among core GIS segments, the nascent cloud computing market is expected to show the highest growth rate during the next several years
A new report from Navigant Research examines the global market for core geographic information systems (GISs) and related asset/outage analytics, providing forecasts for core GIS software, implementation and upgrade services, maintenance, and cloud-based revenue, through 2025.
GISs have become fundamental to today’s power utility as a foundational, system of record-based model for an array of IT systems. A GIS can enhance the value and output from customer information, meter data management, mobile workforce management, outage management, distribution management, and asset management systems, as well as analytics applications. Click to tweet: According to a new report from @NavigantRSRCH, the global market for core GISs and related asset/outage analytics is expected to grow from nearly $1.6 billion in 2016 to over $3.2 billion by 2025.
“The use of spatial data has expanded to include advanced technologies such as application-based software, cloud computing, drones, mobile GISs, remote sensing, spatial analytics, and Web GIS,” says Michael Kelly, research associate with Navigant Research. “The current market for core GIS upgrades, along with integrated and overlaid applications, is robust, and new GIS-based technologies are supporting real-time situational awareness of events that might disrupt the performance of the power grid.”
Among core GIS segments, the nascent cloud computing market is expected to show the highest growth rate as vendors and utilities invest more heavily in managed services models, according to the report. During the next several years, strong market growth is also expected among spatial-based asset and outage analytics solutions.
The report, GIS and Situational Awareness, analyzes the global market for core GISs and related asset/outage analytics. The study covers the evolution of geospatial solutions and isolates emerging technologies, delving into market trends, drivers, and challenges faced by participants. Global market forecasts for core GIS software, implementation and upgrade services, maintenance, and cloud-based revenue extend through 2025. In addition, Navigant Research provides forecasts of revenue for spatial-based analytics for both asset and outage analytics. The report also examines the key technologies related to core GISs and related asset/outage analytics, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, GIS and Situational Awareness, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.