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State of the Global Geospatial Industry 2024

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2 Model-Based Workflows The geospatial industry is moving toward object-first vs. geometry-first thinking. Businesses no longer are staking a point, line and polygon, but rather are using objects (e.g., bridge pylons, walls or slabs) with their associated properties and attributes. This model-based information and parametric or intelligent data – in which data has context beyond its XYZ location – enable powerful, connected digital environments, including digital twins and building information modeling (BIM). This empowers users in the field to employ large-scale models with better graphical and 2D/3D map interfaces, beneficially moving some of the office processing and decision-making directly to worksites. Digital twins: Much more than look-alikes Think of digital twins as more than 3D models or simulations. They're actually dynamic, digital replicas of physical objects, processes or systems that provide up-to-real-time status and performance monitoring from sensors and observations. Being able to see and even manipulate "the real thing" at any time is revolutionizing decision-making processes, planning and predictive capabilities. Projected revenue associated with digital twins by 2026, with a ~$25 billion total addressable market for the geospatial industry. * Fortune Business Insights Geospatial Analytics Market Report $45B 8

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