Market Trends of Russia Geospatial Analytics Industry
Increase in Adoption of Smart City Development in The Country Drives the Market
- Smart cities in the country have been designed according to the activities of citizens to provide improved services, and the move toward smart cities in Russia promises greater automation, intelligent routing, better monitoring, and better city management by using advanced technologies, including Geospatial data analytics solutions.
- Geospatial analytics would get geo data and has various applications in designing and functioning smart cities, such as managing environmental quality and the built environment to land use and transportation planning through better decisions, more efficiency, and improved communication, which is creating a demand for the market in the country's smart city planning.
- Moscow, the capital of Russia, has planned to become the most digitalized city in the world. The people of Moscow see a lot of potential to go further as one of the leaders of digital technology implementation, led by the introduction of the Moscow 2030 digital strategy, which would create a demand for the market in the country.
- The development of Moscow as an innovative digital city consists of creating an infrastructural base, communication data site system, artificial intelligence, and personalization by the administrators of Russia, which would accelerate the demand for geospatial analytics software in the country.
- The success of smart cities, apart from their intended operation, also depends on the extent to which their functioning can be closely monitored to help identify gaps, plug them and ensure continual process improvements, which could be done through the adoption of geospatial analytics in the city manager of the country, and fuel the market in the future supported by the country's priority in transforming its cities into smart cities.
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Defense and Intelligence Sector of The Country Contributes a Significant Market Share
- Russia is a developed and technologically advanced country, helping it increase its defense and intelligence strength by implementing satellite-based technologies. The government has been investing huge capital in the defense sector to be competitive with the global powers, which would increase the demand for advanced technologies, including the geospatial analytics solution in the Russian defense sector.
- For instance, in May 2023, Federal Treasury's online budget portal published data stating that Russia spent USD 26 billion on defense in January and February of 2023, a 282 percent jump in the same period of 2022, which shows the country's priority in strengthening its defense sector, which includes the implementations of advance technology solutions such as geospatial analytics in the defense sector of Russia.
- Additionally, in January and February 2023, national defense spending was 36.2% of the total budget expenditure, approximately double the amount spent on social policy and almost four times more than spending on the national economy to support the military department for the war against Ukraine, which would fuel the demand for geospatial analytics in the country during the forecast period.
- Developing geospatial analytics technology can allow defense intelligence agencies in the country to enhance the armed forces' capabilities. With the advancement of satellite-based technologies and the increasing availability of spatial data, the defense and intelligence department of the country can make quick, precise, and data-driven decisions to minimize threats and maximize national security, which would fuel market adoption in the country.
- Geospatial analytics so; options in the country have been powered by AI & ML to rectify data processing and analysis issues, and these AI-powered investigation systems enable military personnel to survey and analyze the hotspots and battlefields in real-time safely and economically, driving the adoption of the market.
