Nigeria Geospatial Analytics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.94 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Nigeria Geospatial Analytics Market Analysis
The Nigerian Geospatial Analytics Market was valued at USD 0.08 billion in the previous year and is expected to register a CAGR of 5.94%, reaching USD 0.11 billion by the next five years.
- The generation of data has significantly increased in Nigeria as a result of the growth of digital technology, as well as the widespread use of the internet and mobile devices. This enormous amount of data allows organizations to gain insightful information and spur expansion.
- Nigerian Firms are realizing the value of data-driven decision-making to increase operational effectiveness, improve customer experience and gain a competitive advantage. They have the tools and methods to examine vast amounts of data and make wise decisions due to analytics solutions.
- In Nigeria, the range of geographical data has substantially increased. Large volumes of spatial data about infrastructure, transportation, agriculture, demography, and natural resources are being produced and gathered by government agencies, satellite imaging providers, and private businesses. This abundance of data stimulates the market for geospatial analytics products.
- The Internet of Things (IoT) and artificial intelligence (AI) are two new technologies integrated with geospatial analytics to drive industry expansion. Geospatial data, IoT sensors, and AI algorithms provide real-time monitoring, predictive analytics, and spatial for better decision-making and operational efficiency.
- The COVID-19 pandemic significantly impacted Nigeria's geospatial analytics market, affecting various industries and businesses. Many firms were compelled to switch to remote work as a result of the adoption of lockdowns and social isolation measures. Due to this change, there was a higher need for analytics solutions enabling remote collaboration, data sharing, and real-time business operations monitoring.
Nigeria Geospatial Analytics Market Trends
Commercialization of spatial data would drive the market in Nigeria
- Nigeria has been investing in creating its spatial data infrastructure, which consists of mapping tools, satellite imagery, and geospatial databases. Spatial data has been collected and disseminated nationwide with the help of the National Space Research and Development Agency (NASRDA) and the National Bureau of Statistics (NBS).
- Global Positioning System (GPS), Geographic Information Systems (GIS), and other geospatial technologies are increasingly used in Nigeria. Businesses and governmental organizations can use these technologies to analyze and interpret spatial data for better decision-making.
- Internet and mobile connectivity have rapidly increased in Nigeria in recent years. As a result, the amount of geographical data produced by various linked devices has increased exponentially. This includes geolocation data from mobile devices, GPS-equipped automobiles, and Internet of Things (IoT) gadgets. The Nigerian analytics market uses this data to understand customer behavior, travel patterns, and urban design.
- Nigeria's economy is heavily dependent on agriculture, and the use of spatial data analytics has the potential to transform this industry completely. Startups like Farmcrowdy and Thrive Agric are using geospatial data to give farmers detailed information about the health of their crops, weather patterns, and soil conditions. This data-driven strategy aids farmers in streamlining their processes, increasing yields, and reducing resource waste.
Increased smart city and Infrastructure projects.
- The Nigerian government has launched several smart city projects to utilize technology and data to better urban services and inhabitants' quality of life. Geospatial analytics are frequently used in these projects to interpret location-based data and support data-driven decision-making. Geospatial analytics are used, for instance, as part of the Lagos Smart City Initiative to monitor and improve urban planning, emergency response, and transportation systems.
- Projects involving infrastructure construction and urban planning rely heavily on geospatial analytics. City planners may make wise choices about zoning, infrastructure placement, and resource allocation by examining geospatial data, such as land use trends, population density, and transit networks. This facilitates effective development and guarantees the best use of the resources.
- Geospatial analytics is crucial for the management of transportation systems in smart cities. It makes it possible to track and analyze traffic patterns, congestion, and transportation options in real-time. Using geospatial data, transportation authorities can optimize routes, enhance public transit offerings, and lessen traffic congestion. For instance, geospatial analytics tools are being used in Lagos to optimize the timing of traffic signals and enhance traffic control.
- In disaster management and emergency response, geospatial analytics is essential. Authorities can make wise decisions in emergencies by examining geographical data such as population density, infrastructure locations, and danger mapping. Geospatial analytics assists in locating susceptible locations, organizing evacuation routes, and effectively allocating resources. This expertise is especially crucial in Nigeria, vulnerable to natural calamities like floods, droughts, and epidemics.
- In smart cities, geospatial analytics helps with sustainability and environmental monitoring. City officials can identify environmental concerns, track pollution levels, and create sustainable policies by evaluating geospatial data linked to air quality, water resources, and land use. Additionally, geospatial analytics supports conservation initiatives, monitors and manages natural resources, and lessens the environmental impact of cities.
Nigeria Geospatial Analytics Industry Overview
The Nigerian Geospatial Analytics Market is fragmented because of the presence of several companies. Some key players are Autodesk, Bentley Systems, Intergraph (Hexagon AB), Trimble Geospatial, Pitney Bowes Inc., etc. Key players in this market are introducing new innovative products and forming partnerships and collaborations to gain competitive advantages.
In April 2023, Africa's unbanked and underbanked people faced numerous financial obstacles. Customers were unsatisfied as the number of complaints from Nigeria increased from 2.5 million in 2020 to 5.39 million in 2021. Spatial Technologies Limited (STL), a Nigerian geospatial company producing geospatial data for the Nigerian market, provided services to the United Bank of Africa (UBA), a Nigerian financial institution in Nigeria.
Nigeria Geospatial Analytics Market Leaders
Autodesk Inc
Trimble Geospatial
Esri Inc
Pitney Bowes Inc.
Hexagon AB
*Disclaimer: Major Players sorted in no particular order
Nigeria Geospatial Analytics Market News
- April 2023: Abuduganiyu Adebomehin, the Surveyor General of the Federation (SGoF), has praised Sambus Geospatial Nigeria Limited, a provider of solutions, for its dedication to the promotion of a producing high-quality, accurate, and real-time geographic data for Nigeria. The Office of the Surveyor General of the Federation (OSGoF) donated five copies of mapping software (ESRI Arc GIS Pro Advance with ten extensions), which the SGoF accepted in exchange for the praise.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Commercialization of spatial data
5.1.2 Increased smart city & infrastructure projects
5.2 Market Restraints
5.2.1 High costs associated with geospatial technologies
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Surface Analysis
6.1.2 Network Analysis
6.1.3 Geovisualization
6.2 By End-User
6.2.1 Agricultural
6.2.2 Utility and Communication
6.2.3 Defense and Intelligence
6.2.4 Government
6.2.5 Mining and Natural Resources
6.2.6 Automotive and Transportation
6.2.7 Healthcare
6.2.8 Real Estate and Construction
6.2.9 Other End-user Verticals
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Autodesk Inc
7.1.2 Trimble Geospatial
7.1.3 Esri Inc
7.1.4 Pitney Bowes Inc.
7.1.5 Hexagon AB
7.1.6 Harris Corporation
7.1.7 General Electrical Company
7.1.8 Geodata Nigeria
7.1.9 Sambus Geospatial Services
7.1.10 Gisolutions
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Nigeria Geospatial Analytics Industry Segmentation
Geospatial analytics is acquiring, manipulating, and displaying imagery and data from the geographic information system (GIS), such as satellite photos and GPS data. The specific identifiers of a street address and a zip code are used in geospatial data analytics. They are used to create geographic models and data visualizations for more accurate trends modeling and forecasting.
The Nigerian Geospatial Analytics Market is segmented by Type (Surface Analysis, Network Analysis, Geovisualization), by End User Vertical ( Agriculture, Utility and Communication, Defence and Intelligence, Government, Mining and Natural Resources, Automotive and Transportation, Healthcare, Real Estate, and Construction). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Surface Analysis | |
| Network Analysis | |
| Geovisualization |
| By End-User | |
| Agricultural | |
| Utility and Communication | |
| Defense and Intelligence | |
| Government | |
| Mining and Natural Resources | |
| Automotive and Transportation | |
| Healthcare | |
| Real Estate and Construction | |
| Other End-user Verticals |
Frequently Asked Questions
What is the current Nigeria Geospatial Analytics Market size?
The Nigeria Geospatial Analytics Market is projected to register a CAGR of 5.94% during the forecast period (2024-2029)
Who are the key players in Nigeria Geospatial Analytics Market?
Autodesk Inc, Trimble Geospatial, Esri Inc, Pitney Bowes Inc. and Hexagon AB are the major companies operating in the Nigeria Geospatial Analytics Market.
What years does this Nigeria Geospatial Analytics Market cover?
The report covers the Nigeria Geospatial Analytics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Nigeria Geospatial Analytics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Nigeria Geospatial Analytics Industry Report
Statistics for the 2024 Nigeria Geospatial Analytics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nigeria Geospatial Analytics analysis includes a market forecast outlook to for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
