The North America Geographic Information System Market would witness market growth of 8.7% CAGR during the forecast period (2024-2031).
The US market dominated the North America Geographic Information System Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4,689.3 million by 2031. The Canada market is experiencing a CAGR of 10.9% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.1% during (2024 - 2031).
Geographic Information Systems (GIS) have evolved into an essential technology, providing powerful tools for mapping and analyzing data within a spatial context. GIS is designed to capture, store, manipulate, analyze, manage, and present spatial or geographic data. From mapping the Earth's physical features to tracking changes in land use, GIS has found applications across numerous industries, driving efficiencies and improving decision-making.
Geographic Information Systems are applied in various fields, offering data visualization, analysis, and decision-making capabilities that enhance operational efficiency and strategic planning. Urban planning relies heavily on GIS to analyze spatial data and develop infrastructure, zoning regulations, and city layouts. City planners use GIS to assess land use, population density, traffic flow, and environmental factors.
In Canada, residential and non-residential building construction costs have been rising steadily, with increases of 0.9% and 0.7% in the fourth quarter of 2023, respectively. As construction projects become more expensive, the need for efficient project management and resource allocation grows. GIS technology helps optimize construction processes by offering detailed geospatial data for site selection, land use planning, and construction project management. In Mexico, the energy sector is seeing significant growth, with the country generating 337,000 gigawatt hours (GWh) of electricity in 2021 and maintaining 94 gigawatts (GW) of installed generation capacity. GIS technology is pivotal in managing energy generation, distribution, and infrastructure development. For energy companies, GIS solutions are essential for optimizing power grid design, managing transmission lines, and monitoring energy distribution networks. Therefore, Canada's rising construction sector and the expanding energy infrastructure in Mexico present opportunities for market growth.
Free Valuable Insights: The Geographic Information System Market is Predict to reach USD 21.32 Billion by 2031, at a CAGR of 9.1%
Based on Devices, the market is segmented into Desktop and Mobile. Based on Component, the market is segmented into Services, Software, and Hardware. Based on Usage, the market is segmented into Navigation, Mapping, and Surveying. Based on Vertical, the market is segmented into Utilities, Transportation & Logistics, Aerospace & Defense, Construction, Agriculture, Mining & Geology, Oil & Gas, and Government & Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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