At 4.6% CAGR, the South & Central America Geographic Information System Market is Projected to be Worth US$ 634.79 Million by 2031, Says Insight Partners

According to Insight Partners' research, the South & Central America geographic information system market was valued at US$ 441.69 in 2023 and is expected to reach US$ 634.79 million by 2031, registering a CAGR of 4.6% from 2023 to 2031. High demand for real-time location-based services in logistics and launch of AI, Gen AI, and augmented reality-based GIS solutions are among the critical factors attributed to the South & Central America geographic information system market expansion.

The global logistics industry was valued at ~US$ 9.4 trillion in 2023 and is expected to reach US$ 9.9 trillion in 2024, with an annual growth rate of 5.3%, according to the United Nations Report in 2022. In the transportation and logistics sector, geographic information systems are used for live traffic monitoring and real-time vehicle tracking. GIS offers monitoring functions using visual display of the spatial data and provides precise geographical real-time positioning of monitored vehicles. Also, GIS mapping solutions are widely used to create new railway routes, roadways, and other transportation routes. Investments in the infrastructure development of roadways and railways across the globe continue to grow rapidly. According to the Global Infrastructure Outlook Report, in 2023, the global transportation infrastructure investment reached US$ 1.60 trillion. Geographic information systems are widely used in the analysis and visualization of spatial data while planning transportation infrastructure and management. It provides several benefits, such as improved efficiency, cost reduction, and safety and sustainability. According to the World Bank Organization, the Global Roads Inventory Project consists of more than 60 geospatial datasets related to road infrastructure. This dataset covers around 222 countries and includes a roadmap of 21 million km of roads. A geographic information system is used to extract the geospatial data of these countries. Thus, the high demand for real-time location-based services in logistics and transportation and infrastructure sectors boosts the growth of the geographic information system market.

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

Based on component, the South & Central America geographic information system market is segmented into hardware, software and services. The software segment held 63.0% share of the South & Central America geographic information system market in 2023, amassing US$ 278.16 million. It is projected to garner US$ 430.14 million by 2031 to expand at 5.6% 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 South & Central America geographic information system market is segmented into mapping, surveying, telematics and navigation, and location-based services. The mapping segment held 46.5% share of the South & Central America geographic information system market in 2023, amassing US$ 205.43 million. It is projected to garner US$ 269.68 million by 2031 to expand at 3.5% CAGR during 2023–2031.

Based on end user, the South & Central America geographic information system market is segmented into agriculture, oil and gas, construction, mining, transportation, energy and power, and others. The transportation segment held 21.2% share of the South & Central America geographic information system market in 2023, amassing US$ 93.84 million. It is projected to garner US$ 152.42 million by 2031 to expand at 6.3%CAGR during 2023–2031.

Based on country, the South & Central America geographic information system market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil held 58.4% share of South & Central America geographic information system market in 2023, amassing US$ 257.97 million. It is projected to garner US$ 395.58 million by 2031 to expand at 5.5% 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.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com