{"id":33446,"date":"2024-12-09T18:44:27","date_gmt":"2024-12-09T13:14:27","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=33446"},"modified":"2025-01-06T14:50:11","modified_gmt":"2025-01-06T09:20:11","slug":"india-geospatial-market-to-reach-25000-crore-by-2025","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/09-12-2024\/india-geospatial-market-to-reach-25000-crore-by-2025","title":{"rendered":"India&#8217;s Geospatial Market to Reach Rs 25,000 Crore by 2025"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/ Economy, Science and Technology<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>According to I<strong>ndia Geospatial Market Outlook 2024<\/strong>, India\u2019s geospatial market is forecast to grow at a compound annual growth rate (CAGR) of <strong>16.5%<\/strong> to reach Rs <strong>25,000 crore by 2025.<\/strong>\n<ul class=\"wp-block-list\">\n<li>Between 2019 and 2024, <strong>$1 billion<\/strong> has been invested across 126 companies.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What is Geospatial Technology?<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The geospatial technologies comprises<strong> location-based analytics, real-time data mapping, hyperspectral imaging,<\/strong> and drone-based surveys.&nbsp;<\/li>\n\n\n\n<li>These tools offer critical information for sectors such as U<strong>rban Development, Infrastructure Development, Climate Studies (Deep Ocean Mission), <\/strong>and<strong> Agriculture<\/strong> etc.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Significance of Geospatial Technologies<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Agriculture:<\/strong> Precision agriculture supported by drones and satellite imagery improves crop yield and resource utilization.<\/li>\n\n\n\n<li><strong>Disaster Management:<\/strong> Geospatial data enables early warnings for floods, droughts, and natural disasters, enhancing preparedness.<\/li>\n\n\n\n<li><strong>Urban Development:<\/strong> Smart cities use GIS for traffic management, waste collection, and public services.<\/li>\n\n\n\n<li><strong>Environmental Monitoring: <\/strong>Helps track deforestation, water bodies, and pollution, supporting climate action goals.<\/li>\n\n\n\n<li><strong>Defence and Security:<\/strong> Enables border surveillance, mapping and strategic operations.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Government Initiatives<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>PM Gati Shakti <\/strong>focuses on infrastructure development using real-time mapping.<\/li>\n\n\n\n<li><strong>The National <a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/30-12-2022\/national-geospatial-policy-2022\">Geospatial Policy 2022<\/a><\/strong> aims to democratize geospatial data and enhance public-private partnerships.<\/li>\n\n\n\n<li><strong>Smart Cities Mission<\/strong> uses location-based analytics for improved urban planning.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Technological Advancements<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Hyperspectral Imaging:<\/strong> It Captures hundreds of light wavelengths, enabling applications such as;\n<ul class=\"wp-block-list\">\n<li>Early detection of crop diseases and soil nutrient levels.<\/li>\n\n\n\n<li>Monitoring water pollution and methane leaks.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Drone Technologies:<\/strong> Companies like ideaForge have revolutionized data collection through real-time, high-resolution mapping, offering centimeter-level accuracy for sectors like defence and mining.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Challenges<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Data Security: <\/strong>Geospatial data is sensitive, posing national security risks.<\/li>\n\n\n\n<li><strong>Lack of Awareness: <\/strong>Limited awareness among small enterprises about geospatial applications.<\/li>\n\n\n\n<li><strong>Infrastructure Gap:<\/strong> Ensuring widespread access to geospatial infrastructure requires significant investment.<\/li>\n\n\n\n<li><strong>Skill Gap: <\/strong>Need for trained professionals in geospatial data analysis and drone technologies.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Way Ahead<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Policy Implementation:<\/strong> <strong>The National Geospatial Policy 2022<\/strong> must focus on data sharing frameworks and encouraging public-private collaborations.<\/li>\n\n\n\n<li><strong>Capacity Building:<\/strong> Train professionals in geospatial technologies through academic programs and research incentives.<\/li>\n\n\n\n<li><strong>Boosting Startups: <\/strong>Promote indigenous startups like<strong> Skyroot Aerospace<\/strong> and <strong>ideaForge<\/strong> to strengthen domestic capabilities.<\/li>\n\n\n\n<li><strong>Global Partnerships: <\/strong>Collaborate with global space agencies and private firms to expand India\u2019s geospatial exports.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/economictimes.indiatimes.com\/tech\/technology\/mapping-new-heights\/articleshow\/116083406.cms?from=mdr\" target=\"_blank\" rel=\"noopener\"><strong>ET<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to India Geospatial Market Outlook 2024, India\u2019s geospatial market is forecast to grow at a compound annual growth rate (CAGR) of 16.5% to reach Rs 25,000 crore by 2025.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-33446","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/33446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=33446"}],"version-history":[{"count":2,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/33446\/revisions"}],"predecessor-version":[{"id":34899,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/33446\/revisions\/34899"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=33446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=33446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=33446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}