Currently, the world’s population is estimated at 6.5 billion. Within the next 4 decades, projections indicate that the global population will increase by 50% to over 9 billion individuals. Given these numbers, the analysis of demographic data is essential to access vital information on the world’s population for a variety of purposes.
GPS Satellites and Data Collection
At any given time, there are usually a minimum of 24 active GPS satellites orbiting the Earth. Currently, there are over 30 active satellites, which includes several back-ups. These satellites travel at 7,000 miles per hour at 12,5000 miles above the earth’s surface. It takes each satellite 12 hours to circle the planet in its entirety.
It’s interesting to note that a GPS receiver is able to determine what time it is within 100 billionths of a second. This level of exactness is achieved with other types of data collection, such as geospatial mapping, weather conditions, and other vital information.
Imagery can also be manipulated, which is important for logistics simulations and strategic planning. This can be particularly advantageous for disaster preparedness and related purposes.
The Importance of Demographic Reporting
Demographic reporting is integral to the location intelligence market. Dresner Advisory Services conducted a global business survey in February 2014. The results showed that for over 50% of the participants, location intelligence was very important or critical for business planning purposes.
Furthermore, since this survey was conducted across all industries, it demonstrates that demographic reporting is integral within both the public and private spheres. It also stresses the importance of having access to geospatial data to anticipate, or otherwise predict, future needs for products and services.
The United States Bureau of Labor Statistics (BLS) indicates that there will likely be steady growth within this field. By 2022, the BLS predicts that the following percentage of jobs will be available for individuals that possess these types of skill sets:
- GIS and location intelligence: 29%
- Cartographers and photogrammetrists: 20%
- Surveying and mapping technicians: 14%
It’s important to note that geographers are contained within the GIS and location intelligence employment category.
Within the next 2 years, the research company, Gartner, reports that there will likely be 4.4 million big data jobs available. They also indicate that just a third of these positions will be filled by the appropriate skilled personnel, which points to a growing need for trained personnel within these and related positions.
The Geospatial Analytics Market
In 2011, the geospatial industry generated $73 billion in revenue. As a result, it assisted with generating $1.6 trillion in revenue which entered the United States economy.
In their recent report, MarketsandMarkets estimated that the geospatial analytics market would expand to $72.21 billion by 2020. This is a 21.4% compound growth rate from 2015, when the market was worth $27.42 billion.
Marketing Analytics Services
It’s likely that your company or organization would benefit from receiving marketing analytics services. As Dresner Advisory Services determined from their global survey, these services were very important or critical to business planning. Given the nature of your business and the industry within which it functions, it’s highly likely that these services could provide you with a strategic edge.