GIS Market to Grow by 50% Over the Next Five Years

A market study by the ARC Advisory Group predicts that the geospatial industry will grow by 50% over the next five years:

The worldwide market for Geospatial Information Systems (GIS) is forecast to grow 50% over the next five years, representing  a compound annual growth rate of  9.3%, according to a new ARC Advisory Group study.  GIS market revenues will be driven in the near future by continued worldwide spending in non-cyclical industries such as electric power, oil and gas distribution, and divisions of federal governments.   Growth in the mid to latter years of the forecast period will be driven by increased adoption of GIS in emerging markets such as Asia, Latin America, and the Middle East; and a return to spending in North America and Europe by industries hardest hit by the global economic downturn. (Via got geoint?)

Read more: Geospatial Information Systems Market to Grow 50% Over Next Five Years



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