India’s geospatial market set to hit Rs 1 lakh crore by 2030

India’s geospatial market is projected to grow significantly, reaching Rs 1 lakh crore by 2030, with a compound annual growth rate (CAGR) of 13.45% from 2022 to 2030, according to a report by Geospatial World. The global geospatial market is expected to hit USD 1,064 billion by 2030. Geospatial technologies, including GIS, GPS, and remote sensing, help in understanding spatial relationships and making informed decisions in various sectors like agriculture, urban planning, and defence.

The report highlights the importance of advancements in geospatial technologies such as GNSS, GIS, and sensor technologies in driving growth. Sanjay Kumar, CEO and Founder of Geospatial World, emphasized the need for India to develop indigenous software and hardware, build industrial capacity, and foster public-private partnerships for sustainable growth.

From 2019 to 2022, the sector grew at a CAGR of 6.45%, with an expected acceleration to 16% from 2022 to 2025. The market is anticipated to expand from Rs 12,000 crore in 2019 to Rs 63,500 crore by 2028, supported by government initiatives like the Smart Cities Mission and PM Gati Shakti. Geospatial exports are also expected to rise from Rs 11,000 crore in 2019 to Rs 36,500 crore by 2028.

By focusing on indigenous technology, public-private partnerships, and research and development, India aims to drive digital transformation and establish itself as a global geospatial leader. Reveal Inside