With the advent of information technology in the past half-century, geographic information has evolved as a common language of 7 billion people around the world. And disruptive tools have further integrated geographical information into broader IT and Engineering processes.
While disruption gets to be new normal, geospatial is getting ubiquitous, pervasive, and
‘by default’ in our daily living. As we prepare to enter the Fourth Industrial Revolution, driven by Artificial Intelligence, Big Data, Internet of Things, and Robotics, geospatial aspires to be an integral part of this disruptive journey. However, in the process, it gets disrupted as well, opening its closely guarded boundaries to larger market drivers, and creating new growth opportunities, weathering through market forces and consumer behavior. A host of next generation entrepreneurs are joining the innovation bandwagon and beginning to explore the hidden treasure of spatial thinking, empowering IT-enabled services and optimizing engineering workflows and business processes.
Disruption is not only all about technological innovation, but also cuts across complete value chain of the business lifecycle. While opening new market opportunities, disruption brought a whole set of new business model towards delivering tangible information services in user friendly manner through a collaborative and interactive platform. Simplifying utility and value of geospatial knowledge for consumers became determining factor for successful business models.
At the same time, it also threatened the well-established heavy boundaries and challenged legacies of existing business ecosystems, leaving them with no options but to pursue transformation towards solutions-centric business models through collaborative platforms, embedding its capabilities with processes, workflows and systems of user industries, optimizing productivity and efficiency, and subsequently amplifying its value and impact in economy.
Though, geospatial industry is growing exponentially in terms of market size and its value impact in the world economy and society, its journey hasn’t been and going forward not likely to be smooth at all. The industry, which is very upbeat with technology innovation, rosy market prospects, defined value propositions and likely financial investments, is going through a churning process as it faces competition from unknown quarters, challenges from legacy practices, shortage of qualified manpower, deficit of market driven leadership, and above all ruthless consumer behavior. Such a transformation process would attract few casualties, forcing market consolidation and portfolio integration.
However, this initial painful experience is opening avenues for a larger pool of innovators
and business leaders, at the same time creating a collaborative environment to harness
larger business goals. Undoubtedly, geospatial industry is at the cusp of a digital revolution, simplifying and amplifying geospatial practices and values in world economy and society.