At 7.4% CAGR, the North America Geographic Information System Market is Projected to be Worth US$ 6,316.30 Million by 2031, Says Business Market Insights

According to Business Market Insights research, the North America geographic information system market was valued at US$ 3,567.59 in 2023 and is expected to reach US$ 6,316.30 million by 2031, registering a CAGR of 7.4% from 2023 to 2031. Rapid development of smart city projects and surge in need for forecasting natural disasters are among the critical factors attributed to the North America geographic information system market expansion.

In smart city projects, a geographic information system (GIS) is used for site selection, land acquisition, urban town planning, designing, visualization, construction, project management, and reporting. The development of smart city projects is proliferating with significant investment from governments of several countries across the world. According to The Organisation for Economic Co-operation and Development (OECD), the smart city market was valued at US$ 511.6 billion in 2022 and is projected to reach US$ 1,024 billion by 2027; it is expected to register a CAGR of 15% during the forecast period. Additionally, geographic information system integrated solutions such as Building Information Modeling (BIM) are being widely used for the construction of town planning. Further, more than 66% of cities in the US are investing in advanced technologies such as geographic information systems for mapping, smart home devices, IoT solutions for smart city projects. Moreover, the construction of metro facilities, new airports, and railway networks is growing across the globe driving the geographic information system market growth. For instance, in March 2023, the Canadian Kelowna City Council approved the funding of US$ 90 million for the Kelowna Airport terminal expansion project. As of 2023, in the US, six new airports are under construction. Thus, the rapid development of smart city projects and growing infrastructure development projects across the globe drives the geographic information system market.

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

Based on component, the North America geographic information system market is segmented into hardware, software, and services. The software segment held 44.8% share of the North America geographic information system market in 2023, amassing US$ 1,597.85 million. It is projected to garner US$ 3,114.04 million by 2031 to expand at 8.7% 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 North America geographic information system market is segmented into mapping, surveying, telematics and navigation, and location-based services. The mapping segment held 77.1% share of the North America geographic information system market in 2023, amassing US$ 1,231.18 million. It is projected to garner US$ 1,938.13 million by 2031 to expand at 5.8% CAGR during 2023–2031.

Based on end user, the North America geographic information system market is segmented into agriculture, oil and gas, construction, mining, transportation, energy and power, and others. The transportation segment held 23.4% share of the North America geographic information system market in 2023, amassing US$ 834.62 million. It is projected to garner US$ 1,652.88 million by 2031 to expand at 8.9% CAGR during 2023–2031.

Based on country, the North America geographic information system market is segmented into the US, Canada, and Mexico. The US held 83.7% share of North America geographic information system market in 2023, amassing US$ 2,985.18 million. It is projected to garner US$ 5,393.87 million by 2031 to expand at 7.7% 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; Başarsoft Bilgi Teknolojileri A.Ş.; and Carto, among others.

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