SPECIAL FEATURE
European Geospatial Industry:
Today and Tomorrow The European geospatial market is moving forward and evolving, starting from single data asset capture to integrated workflows to Cloud platforms. It's been quite a journey and the momentum is not going to get any slower. The private industry, government, and academia — the three pillars of the geospatial ecosystem — need to prepare themselves because there will be much to do. By Meenal Dhande
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n recent times, despite the havoc wreaked on people and businesses by the COVID- 19 pandemic, the geospatial industry has witnessed a surge in demand for geospatial-based value-added services, technology innovation, and digitalization of systems and processes. As the power of location moves into the hands of people, the global geospatial market is estimated
to reach USD 1.44 trillion by 2030. Europe is one of the major players in this trillion dollar economy. It is a region where geospatial tools are indispensable in governance, environmental management, society, and businesses. According to the European Geospatial Business Outlook Dossier published by Geospatial World, the European geospatial industry is forecasted to grow at a CAGR of
11.61% between 2021 and 2025, and touch USD 155 billion. This growth is attributed to the evolving role of national geospatial agencies, enhanced workflow integration in the economic sectors, changing business models, and an evolving legislative environment. These points were reiterated by European geospatial experts at the recently held GeoBuiz Europe Summit (pre-conference of Geospatial World Forum 2022) — the experts discussed directions and dimensions, technology trends, and business models of the European geospatial market. Here are some excerpts from the panellists at the Summit.
