St. Louis Opportunity: Geospatial World Projects A $1.4 Trillion Geospatial Industry Market Sector by 2030.

This projected growth of the Geospatial Intelligence sector by Geospatial World is huge, and the economic development potential for St. Louis also could be quite substantial.

Geospatial World released the attached “Global Geospatial Industry Outlook Report” today at their GeoBuiz Symposium22 in Amsterdam — projecting a $1.4-Trillion Geospatial Intelligence Market by 2030. 

This Friday, Senator Roy Blunt will dedicate what could be a very significant new asset in St. Louis' quest to become a Geospatial Intelligence Hub; namely, a 75,000 square foot multi-tenant Commercial "Sensitive Compartmented Information Facility (of SCIF).

The new SCIF at The Globe Building will be the first of its kind outside the Nation's Capitol region and will be a major new tool for both large and small Geospatial Intelligence firms which must do their business in a "classified environment."

The dramatic growth in the Geospatial Intelligence industry sector documented in today's “Global Geospatial Industry Outlook Report” documents a substantial economic and entrepreneurial development and job creation opportunity in this industry sector from a St. Louis perspective:

• with the multiple applied research initiatives now underway by bistate colleges and universities (including the St. Louis University Geospatial Institute, GeoSLU);
• the recently-announced Taylor Geospatial Institute bringing together area universities to collaborate on research on food security, core geospatial science and computation, geospatial health, and national security;
• region-wide efforts in talent and workforce development (K thru 12, to college and university training and tech training);
• the development of the 100-acre, $1.75-billion, 3,100-job new western HQ of the National Geospatial-Intelligence Agency (NGA) at the heart of the 1,500-acre NorthSide Regeneration Mixed-Use Development in North St. Louis, just blocks north of downtown St. Louis;
• the recent creation of the Downtown North Insight District https://lnkd.in/eMJHmd4H --- St. Louis' newest Innovation District, a collaborative civic development effort of the co-developers of the former St. Louis Post-Dispatch Building for up to 1,400 employees of Square and Cash App, the high-tech renovation of the 710,000 Art Deco Globe Building, and the T-Rex Incubator and NGA Operation Moon Shot:

GEONT + FINTECH = Placemaking in Downtown North: An Urban Insight District in St. Louis at the Heart of America.” | Geospatial World Magazine | Annual Edition | 2022  https://lnkd.in/eUr_g-fH 

The above article on the St. Louis Downtown North Insight District is included in the recently-published Annual Edition of Geospatial World Magazine.

• and, major SCIFs — Commercial "Sensitive Compartmented Information Facilities —  being developed at both The Globe Building at Downtown North and in GEOINT Village at NorthSide Regeneration---

St. Louis will be more than well positioned to get its share of this rapidly growing $1.4-Trillion Geospatial Intelligence Market!

BTW, it’s certainly no accident that Geospatial World Media has located is North and South American HQ in St. Louis, and has become one of the latest tenants in The Globe Building in the new Innovation District.

As noted, this Friday morning, Senator Roy Blunt and other national Geospatial Intelligence leaders will oversee the Official Groundbreaking for the 75,000 square foot multi-tenant SCIF at The Globe Building:

Geospatial World Magazine has noted: “the SCIF at The Globe Building is the first of its kind outside the National Capital region and underscores the importance of the emergence of St. Louis as the National Geospatial-Intelligence Hub." 

SCIFing for Growth - GWPrime (geospatialworld.net [gwprime.geospatialworld.net]

It has been said that "today, Downtown North is charting a new north for St. Louis."

Attached below is today's full Global Geospatial Industry Outlook Report.

--- Dick Fleming, CEO, Community Development Ventures, Inc., St. Louis, MO

Attached:

"Advancing & Augmenting USD 1.4 Trillion Geospatial Market by 2030." | Geospatial World | May 9, 2022

Strategic public policy reforms, industry acceleration strategies, and innovations in the digital twin and metaverse paradigm to drive geospatial market growth post 2025. 

GeoBuiz 22: Global Geospatial Industry Outlook Report

By Sanjay Kumar

Geospatial industry is the next ‘Big Opportunity’ for technology companies both as an ‘advancing market in itself’ and ‘augmenting business processes’ of mainstream IT, Engineering and Autonomous industries. It would continue to provide accurate and rich foundation to data infrastructure and increasingly add the third dimension to ‘everything we do’. This will result in geospatial getting by default embedded in digital twin and metaverse, which will further impact how humans interact with digital and physical world in near real time. The technology leadership must look at geospatial market holistically as it is evolving to be a ‘process of insight’ as an outcome, while moving up the value chain in the field of reality capture in terms of coverage, context, themes, accuracy, and currency.

Data insight and knowledge economy

Data insight is at driving wheel of knowledge economy, penetrating and integrating across workflows and processes of every industry. And as every business gets more and more driven by insights, data would serve as oil to knowledge economy and shared economy business models, aimed at deriving greater efficiency, productivity, transparency, and compliance.

Geospatial infrastructure, which comprises of foundation data, positioning network, platform, standards, knowledge services, and policies, provides overarching framework and serves as the interface between government and commercial enterprises to work towards extending geospatial value chain and scalability of applications supporting development, governance, business, and security. Recognizing the growing value of geospatial knowledge infrastructure, there have been several initiatives towards public policy and industrial development worldwide, and the same has been laying the path for amplified growth by the year 2030 and beyond.

Source: GW Consulting Analysis, Survey – July 2021-Jan 2022

Public policy and market growth

The Global Geospatial Market Size is estimated to be USD 452 billion in 2022 and is forecasted to grow at 14.61 percent CAGR and estimated to be USD 681 billion in year 2025.

However, it is expected to grow at much faster rate of 16.1 percent CAGR post 2025, reaching USD 1.44 trillion by 2030. While the current growth rate is driven by technology innovation, integration of workflows, and augmentation of spatial analytics in business processes, post 2025, this will gain momentum due to public policy reforms and increasing investments in geospatial infrastructure (both public and private) and industry acceleration programs worldwide. The growth impact of public policies and industrial acceleration is estimated to be USD 373 billion between 2025 to 2030 as compared to USD 38 billion in the year 2025, carving out a greater role for national geospatial agencies and governments.

GNSS and Positioning continues to be the largest and growing segment of geospatial market worldwide, accounting for almost 55 percent of the total market share, followed by spatial analytics at 25 percent, and Earth Observation at 17 percent. A decade ago, data was the biggest segment of geospatial market, but technology innovations in the field of software integrated hardware and integration of workflows have augmented analytics as a service, converting the market share of data to spatial enterprise and location-based services.

Source: GW Consulting Analysis, Survey – July 2021-Jan 2022

Hot spot for tech leadership

The geospatial market is emerging as a ‘hot spot’ of technology marketplace, wherein several mainstream IT and engineering firms added geospatial portfolios through strategic partnerships and acquisitions. The move is driven with motivation to add geospatial dimension to their existing business portfolios and preparing themselves to stay ahead of the innovation and competitive curves.

Key findings from the report include

• The global geospatial market is forecasted to be USD 681 billion in 2025.
• The market is estimated to grow at a much faster rate post-2025, making it USD 1.44 trillion by 2030, on the backbone of strategic public policy reforms, industry acceleration strategies, and innovations in the digital twin and metaverse paradigm.
• The current growth in the market is driven by technology innovation, integration of workflows, and augmentation of spatial analytics in business processes.
• Increasing government investments, strategic public policy reforms, and the evolving role of national geospatial agencies and governments is expected to drive the market growth post-2025.
• GNSS and Positioning is forecasted to be the largest and growing geospatial technology segment with approx. 45 percent of the total market share, followed by GIS and Spatial Analytics at approx. 25 percent and earth observation at approx. 17 percent.
• The economic impact of geospatial technologies on the global economy is currently estimated to be in the range of USD 2.2 trillion to 5.4 trillion, while it shall expand in the range of USD 5.4 trillion to USD 10.2 trillion in 2025.