Navigant: Global market for core GIS expected to exceed $3.2B by 2025
Tuesday January 17, 2017
BOULDER -- The global market for core GISs and related asset/outage analytics is expected to grow from nearly $1.6 billion in 2016 to more than $3.2 billion by 2025, according to a new report from Navigant Research.
GISs have become fundamental to today’s power utility as a foundational, system of record-based model for an array of IT systems, the report said. 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.
“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,” said Michael Kelly, Navigant research associate.
“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 website.