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?)
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This is excellent news. However, it would be beneficial for us to know that what sort of commercial activity we can expect this increase coming from?
Is this 50% increase over the next five years will be contributed by improving business relations from current clients and boosting the market share with increasing number of software updates, new servers and more user-friendly yet more expensive product? Or perhaps there will be some sort of major development that changes the current face of the GIS industry and thus increase the market share too?
Really, it will grow? Here in Colorado Springs, it is at a total standstill. No jobs, those of us that are able leave and go to Denver and beyond. There are those of us with family and are hesitant to drive 2-2.5 hrs to Denver everyday. I have over 30 yrs as a Cartographer and 15 years in GIS alone. Trying to get some contract work, (not even looking for full time) but, even the engineering firms are moving to Denver.