GIS already plays an integral role in practically every business sector in the world. By capturing, presenting and analyzing spatial data, organizations can effectively assess and improve their operations, and they will continue to do so because this approach has proven to be successful.
According to a report by Geospatial World, the global GIS and spatial analytics market has maintained an approximately 10% growth rate for the past five years. Its value is set reach $88 billion USD in year 2020 (up from $42 billion USD in 2013 and $70 billion USD in 2018). This growth projection is based on the transition from 2D to 3D-based mapping and the increased adoption of GIS technologies in China and India.
Moving forward, the simultaneous development of Cloud Computing, Big Data and Internet of Things (IoT) could present more opportunities for GIS applications. Most GIS services today are already adopting these technologies to improve accuracy, efficiency and quality. Newer and better geospatial solutions will eventually emerge as the technological integration matures and the market demand catches up.