The worldwide market for geospatial information systems (GIS) is forecast to grow 65% over the next five years, representing a compound annual growth rate of 10,5%, according to a new ARC Advisory Group study. With the global economic downturn now predominantly in the past, capital spending on information technology has rebounded vigorously. The GIS market has taken part in this rebound and is expected to experience vibrant growth.
Traditionally strong GIS market segments such as electric power, oil and gas distribution, and divisions of federal governments continue to expand their use of GIS solutions. Meanwhile, more contemporary segments such as insurance, real estate, and retail are expected to increase GIS adoption, according to Clint Reiser, enterprise software analyst, and the principal author of ARC’s ‘Geospatial Information Systems Worldwide Outlook’