At 8.6% CAGR, the Europe Geographic Information System Market is Projected to be Worth US$ 5,940.80 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the Europe geographic information system market was valued at US$ 3,073.37 in 2023 and is expected to reach US$ 5,940.80 million by 2031, registering a CAGR of 8.6% from 2023 to 2031. Surge in need for forecasting natural disasters and rapid development of smart city projects are among the critical factors attributed to the Europe geographic information system market expansion.

Geographic information system is widely used for accurate forecasting of storms, hurricanes, and excessive rain. It plays an important role in predicting and mitigating the impact of such natural disaster events by offering essential spatial data, images, and analysis. According to the European Commission Organization, in Southern Europe, wildfires consumed 900,000 hectares in 2022. Also, in 2023, wildfires burned more than 500,000 hectares, primarily in Italy, Greece, Spain and Portugal. To avoid such natural disaster events and reduce the additional damage cost, there is a growing requirement for geographic information systems. Notable disasters included the 2024 Central European floods (Storm Boris), which caused €4.2 billion in damages and 28 deaths, and the October floods in Valencia, Spain, which led to 232 fatalities and damages estimated at €10.7-€11 billion. Thus, the need for forecasting natural disasters fuels the growth of the geographic information system market growth.

On the contrary, high cost associated with GIS solutions hampers the growth of Europe geographic information system market.

Based on component, the Europe geographic information system market is segmented into hardware, software, and services. The software segment held 49.7% share of the Europe geographic information system market in 2023, amassing US$ 1,528.57 million. It is projected to garner US$ 3,219.73 million by 2031 to expand at 9.8% CAGR during 2023–2031. The hardware segment is further sub segmented into GIS collectors, imaging sensors, LIDAR, total stations, and GNSS or GPS antennas. The software segment is further sub segmented into desktop GIS, server GIS, developer GIS, mobile GIS, and remote sensing software.

Based on function, the Europe geographic information system market is segmented into mapping, surveying, telematics and navigation, and location-based services. The mapping segment held 37.9% share of the Europe geographic information system market in 2023, amassing US$ 1,165.20 million. It is projected to garner US$ 2,054.22 million by 2031 to expand at 7.3% CAGR during 2023–2031.

Based on end user, the Europe geographic information system market is segmented into agriculture, oil and gas, construction, mining, transportation, energy and power, and others. The transportation segment held 22.2% share of the Europe geographic information system market in 2023, amassing US$ 683.17 million. It is projected to garner US$ 1,500.65 million by 2031 to expand at 10.3% CAGR during 2023–2031.

Based on country, the Europe geographic information system market is segmented into the UK, Germany, France, Russia, Italy, and the Rest of Europe. The UK held 34.1% share of Europe geographic information system market in 2023, amassing US$ 1,047.10 million. It is projected to garner US$ 2,273.37 million by 2031 to expand at 10.2% CAGR during 2023–2031.

Key players operating in the geographic information system market are Autodesk Inc; Topcon Corp; Caliper Corp; SuperMap Software Co Ltd; Hi-Target; Precisely; Maxar Technologies Inc; Trimble Inc; AmigoCloud Inc; Bentley Systems Inc; Hexagon AB; Cadcorp Limited; Spatialworks Sdn Bhd.; Environmental Systems Research Institute, Inc.; Blue Marble Geographics; TomTom International B.V.; FARO Technologies Inc; L3Harris Technologies Inc; Basarsoft Bilgi Teknolojileri A.S.; and Carto, among others.

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