By
Telecom Lead Team: Global geographic information systems (GIS)
Market will achieve $10.6 billion revenue by 2015, according to Global Industry
Analysts.
The
Global Geographic Information Systems market is expected to witness
significant growth driven by increasing adoption of the technology in
industries such as oil and gas distribution, electric power, and other government
sectors.
Presently,
GIS is being used in wide range of applications including gas and oil
exploration, identification of utility lines, and mapping and planning among
others.
Developments
in satellite based mapping over the past few years have led to a drastic rise
in available geographic information/data. As a result, GIS
technologies are finding application in a wide range of new industrial end
uses.
Furthermore,
data available in GIS engineering applications has become an integral part of
the functioning of businesses across several industries.
The
report claims that increasing awareness among organizations about timesaving
attribute of GIS and price stabilization at lower levels has contributed in
large measure to the widespread adoption of the technology.
The
healthy growth posted by GIS industry was however interrupted by the global
economic crisis during 2009-2010. European governments stopped purchasing GIS
technology during the period in anticipation of low tax collections. Meanwhile,
the North American GIS market remained comparatively strong, largely due to the
efforts of governments to improve homeland security.
The
report also claimed that the integration of the technology with cloud
technologies remains one of the major challenges for the industry. A major
factor hindering growth of the GIS industry is the high cost associated with
the technology. Although, prices have declined in the recent past, the
technology is still considered to be expensive for smaller companies.
Last
year, China Information Technology, had announced its project with Shuohuang Railway
Development. This was the first project started by China’s railway industry
using GIS technology.
