NEW YORK, April 07, 2020 (GLOBE NEWSWIRE) -- The need for network installation is increasing across the globe, and to begin the process, the topography and terrain of the area need to be studied, before a telecommunications tower can be erected. With stiff competition in the telecom sector and deployment of advanced communication technologies, such as 4G and 5G, companies are increasing their efforts to expand their infrastructure and services.
Since the development process of a wireless network is costly, telecom firms are deploying geographic information system (GIS) to understand geographical data, to install towers. Thus, the global GIS in telecom market revenue, which was $1.3 billion in 2019, is expected to increase to $4.6 billion by 2030, at a 12.2% CAGR between 2020 and 2030 (forecast period).
Cloud Deployment to Witness Higher CAGR during Forecast Period
In the coming years, the higher CAGR, of 12.8%, in the GIS in telecom market, would be witnessed by the cloud bifurcation. This is because this kind of deployment allows users to access their data from anywhere, be it a mobile phone or web browser. Additionally, with the increase in the adoption of cloud computing, a rising number of consumers are hosting their GIS data this way.
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Managed services dominated the GIS in telecom market in 2019, which is attributed to the increasing demand for software monitoring, restore, and backup, capacity and performance management, configuration, policy management, data download and upload, and user off-boarding and on-boarding services.
Till 2030, large enterprises will continue contributing the higher revenue to the GIS in telecom market, as they are swiftly incorporating GIS for enhancing their wireless network services, in areas with as well as without connectivity issues.
North America was the largest region in the GIS in telecom market during the historical period (2014–2019), due to the expanding reach of the 5G network and high disposable income of people, which is leading to high tablet and smartphone sales. In the coming years, the fastest market growth would be experienced in Asia-Pacific (APAC), as a result of the rising internet penetration and heavy government spending on 5G.
Browse report overview with 88 tables and 218 figures spread through 265 pages and detailed TOC on "GIS in Telecom Market Research Report: Industry Share Analysis and Demand Forecast to 2030" at: https://www.psmarketresearch.com/market-analysis/gis-in-telecom-market
Product Launches and Acquisitions Shape Market Competition
In the last few years, the GIS in telecom market saw a number of product launches and acquisitions, with companies going all out to get an edge over their competitors.
For instance, in November 2019, IQGeo Group plc unveiled Network Manager for telecom companies, which extends IQGeo platform for storing network asset data as well as editing, maintaining, and designing, networks. Available on the premises of customers as well as on the cloud, it aids companies in saving on operational costs and offering a better experience to telecom service users.
Further, Keynetix, which develops cloud-based software for modeling, visualizing, capturing, and sharing geotechnical data, was acquired by Bentley Systems Incorporated in May 2019. With this acquisition, the latter firm is offering subsurface digital twin services for assets and infrastructure projects and expanding its portfolio of geotechnical solutions.
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The competition in the global GIS in telecom market is shaped by a number of players, including Environmental Systems Research Institute (Esri) Inc., Pitney Bowes Inc., Hexagon AB, L3Harris Technologies Inc., Autodesk Inc., Bentley Systems Incorporated, Trimble Inc., Schneider Electric SE, Cyient Limited, General Electric Company, and RMSI Private Limited.
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