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Growth of Saudi Arabia’s Geospatial Analytics Market by 2030

Posted by Pramod Kumar on December 11, 2024 at 15:46
Growth of Saudi Arabia’s Geospatial Analytics Market by 2030

The geospatial analytics market in Saudi Arabia is projected to generate a revenue of USD 414.8 million in 2024 and grow at a CAGR of 9.5% between 2024 and 2030, reaching USD 714.8 million by 2030.

This surge in adoption is driven by the growing demand for tools that visualize and analyze movement, locations, and patterns, which play a vital role in the development of smart cities. Architects utilize this technology to identify optimal locations for investments.

Geospatial analytics is also critical in consumer services, enabling precise goods delivery. Logistics firms use this data to streamline operations, ensuring seamless connections between service providers and customers. Similarly, the transportation sector leverages these insights to enhance traffic flow and overcome barriers.

The Saudi government’s infrastructure development plans further bolster the market. Initiatives like the MOMRA Smart City Program and Saudi Geological Survey (SGS) are significant contributors. For instance, the Riyadh Development Authority (RDA) applies geospatial analytics to monitor environmental and transportation factors. Additionally, in 2022, the Kingdom announced the establishment of advanced research centers in geographical sciences to align with Vision 2030.

Key Insights:

  • Geovisualization: It accounts for 50% of the market in 2024, facilitating resource planning and optimization across agriculture and natural resource management.
  • Real Estate: This sector holds a 35% share in 2024, driven by land-use planning needs and Saudi Arabia’s USD 1,000 million allocation for infrastructure projects, including eight new cities and 1.3 million housing units by 2030.
  • Software: Representing 55% of the market in 2024, advanced software solutions incorporating cloud computing, AI, and machine learning are key growth drivers.
  • Regional Dominance: The Eastern region leads the market with a 45% share, driven by its prominence in commercial activities such as oil and gas exploration, logistics, and trade.
  • Satellite Imagery: In February 2024, Saudi Arabia introduced SpaceKnow, utilizing satellite imagery and AI for applications across multiple industries.
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Tags: geospatial analytics, technology, geovisualization, network analysis, surface analysis
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Posted by Pramod Kumar

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others.
He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd.
Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.

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