Geospatial is a technology that allows the creation, management, analysis, and visualization of data containing geographic information. Maps ranging from 2D, 3D, until 4D maps are one of the geospatial technology products (Esri, 2022). A map is a form of visualization of geospatial data that is processed in such a way according to the need to produce information as well as a problem-solving tool. Maps serve as scientific analytical tools used to identify patterns, make predictions, assist decision making, as well as risk and area management.
Previously, geospatial only functioned as a technology that could produce a map. However, geospatial has now innovated from just a mapping tool to a set of technologies that offer an extraordinary value in business practices to support government development planning programs through the existence of a national spatial data infrastructure. Services to website-based mapping applications or what is more familiarly known as WebGIS are currently being developed. WebGIS provides and displays interactive geospatial data and information for its users. Geospatial technology is needed by organizations/companies to support business activities, this is under the research of Erskine et al. (2013), which states that an organization that utilizes the existence of geospatial data has a greater potential to be faster and easier in the strategic decision-making process for their organizational activities and find solutions to organizational problems. In its business practice, geospatial has the advantages of increasing productivity, cost-effectiveness, transparency, safety, and spatially based project management. Based on the Research and Markets (2022) report, the geospatial industry market analysis is worth USD 22 billion in 2020 and is expected to reach a value of USD 33.19 billion in 2026, with an Annual Growth Rate of 7.2%, during the forecast period 2021 – 2026.
Like all industries, the geospatial technology industry also has its own set of obstacles in its growth. Continuous technological advances shorten product life, thus putting pressure on production processes and innovation. This is a challenge in itself which leads to the need to train new workers and retrain existing workers so that they can adapt to technological developments. In addition, there are still limited regulations and public policies governing data sharing, managing data privacy, and security issues. On the other hand, limited user mindset, and cyber security are additional challenges faced by this industry (Geospatial Media and Communications, 2019).
According to Jack Dangermond, Founder and President of Esri in an interview with Geospatial World (2020a), stating that geospatial has had a big impact if a large number of user communities have been formed, and geospatial data and information providers are willing to share with each other. The concept of sharing data and information is the key to the success of the geospatial technology business industry. Because without a willingness to share with each other, it can potentially lead to overlapping and duplication of data and information, which can confuse the public as users.
Based on a survey conducted by Geospatial World (2020b), more than 100 company leaders and 1500 professionals working in the world's geospatial industry agree that in the future geospatial has great potential in the business world through a cooperative business model. The cooperative business model requires the need to work collaboratively, competitively, with strategic recommendations, and solutions. More than 75 percent of all business data contains geographic information and 80 percent of all business decisions involve geographic data, the ability to interpret geographic data and make decisions based on geographic information is critical to business decisions (Mennecke, 2001).
In the future, geospatial has the opportunity to dominate the global market through economic growth. This is evidenced by the growing availability of spatial data infrastructure, both established by the government, institutions, and companies that have the same goals ranging from sharing data and information to providing services or services that can be easily accessed by the public. The growing application of geospatial-based services or services for daily life ranges from navigation, location search, transportation services, online-based freight forwarding services, even to organizational activities involving government/institutions/companies. All of these activities have the opportunity to increase the economy for service providers, as well as provide solutions and ease of access for users.
REFERENCE
Erskine, M., Gregg, D., Karimi, J., & Scott, J. (2013). Business Decision-Making Using Geospatial Data: A Research Framework and Literature Review. Axioms, 3(1), 10–30. https://doi.org/10.3390/axioms3010010
Esri. (2022). 2D, 3D & 4D GIS Mapping Software [Website]. Environmental Systems Research Institute. https://www.esri.com/en-us/arcgis/products/arcgis-pro/overview
Geospatial Media and Communications. (2019). GeoBuiz 2019 Report: Geospatial Industry Outlook and Readiness Index (p. 12). Geospatial Media And Communications.
Geospatial World. (2020a). A Wake Up Call. Geospatial World, 11(1), 12–17.
Geospatial World. (2020b). Industry Trends. Geospatial World, 10(5), 8-21.
Maxar Technologies. (2022). Kondisi Pelabuhan Tanjung Perak, Surabaya dan Perairan Selat Madura Dilihat Melalui Citra Satelit [Satellite Imagery]. Google Earth.
Mennecke, B. E. (2001). Understanding the role of geographic information technologies in business: Applications and research directions. Journal of Geographic Information and Decision Analysis, 1(1), 44–68.
Research and Markets. (2022). Geospatial Analytics Market—Growth, Trends, COVID-19 Impact, and Forecasts (2022—2027) (Report No. 4772020; p. 143). Research and Markets. https://www.researchandmarkets.com/reports/4772020/geospatial-analytics-market-growth-trends
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