Geospatial Analytics Market to Hit $256 Billion by 2028
It is said that in the early days of Walmart, Sam Walton used to stand in the parking lot to gauge the performance of the store based on the number of cars parked there.
It was only years later when Geospatial Intelligence and Location Data became available at scale that people realized there is a relation between retailer's parking lots and revenues.
Companies often struggle while choosing the physical location for their stores as they have to balance between procurement and customer convenience.
Now, Geo Spatial Intelligence can solve this dilemma with detailed information on traffic patterns, peak hours, parking availability, customer behaviour and even demographic data.
It is said that 70% of all data available with brands have geospatial components that are never utilized.
This is because tools were not available to analyze this data and now with brands like Bayanat, you can take full advantage of data to take your business to new levels of growth.
Geospatial analytics are utilized to add location and timing to conventional sorts of data to create effective data visualization.
It also includes graphs, maps, statistics, and cartograms that show past and present shifts.
Governments and businesses are increasingly relying on geospatial data as a source of information for making choices about risk assessment and mitigation, disaster management, and urban development.
Along with interest in Geo Spatial Intelligence, there is also soaring demand for artificial intelligence across several end-user industries.
For example, Analytics, business solutions, and the medical and healthcare industries are quickly adopting Artificial Intelligence (AI).
The industry demand is also driven by the expanding requirement for cloud computing technology and high-performance computing capabilities.
In addition, the market is expanding profitably due to technological developments in 5G communications technology and 4D GIS software.
For more details, visit Bayanat today.
