India's geospatial market set to hit Rs 1 lakh crore by 2030, growing at 13.45% CAGR
The report added that India is poised to become a significant player, as the global geospatial market is set to reach USD 1,064 billion by 2030.
The geospatial market, by definition, is the industry that includes the creation, gathering, analysis, and use of geographic data through technologies such as Geographic Information Systems (GIS), Global Positioning Systems (GPS), and remote sensing.
This enables companies and organisations to comprehend spatial relationships and patterns on the surface of the Earth in order to make well-informed decisions in a variety of industries, including agriculture, urban planning, environmental monitoring, logistics, and defence.
As per the report, the advancements in geospatial technologies, including GNSS, GIS, earth observation, and sensor technologies will fuel the growth.
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