Indian GIS Market to be $10 billion in 10 Years
The market for geographical information systems (GIS) in India is expected to be $10 billion in 10 years The Economic Times reported today. The times quoted speakers at the 58th International Astronautical Congress currently being held at Hyderabad.
Globally, the GIS market is expected to grow from an estimated $4 billion to $150 billion in the next decade.
"India is sitting on a goldmine with tremendous business potential for GIS and its use for land records in 600,000 villages," said Mukund K. Rao, CEO of Bangalore-based Navayuga Spatial Technologies (NST), at a session on GIS and high-resolution imagery market.
With more and more government agencies, private companies and individuals using GIS and high-resolution imagery services, the market is growing in leaps and bounds.
Increasing use of spatial information for planning, infrastructure development, disaster management, business development, and natural resources management are the main reasons given for the growth forecasts.