India’s Geospatial Market to Reach Rs 25,000 Crore by 2025

Syllabus: GS3/ Economy, Science and Technology

Context

• According to India Geospatial Market Outlook 2024, India’s geospatial market is forecast to grow at a compound annual growth rate (CAGR) of 16.5% to reach Rs 25,000 crore by 2025.
  • Between 2019 and 2024, $1 billion has been invested across 126 companies.

What is Geospatial Technology?

• The geospatial technologies comprises location-based analytics, real-time data mapping, hyperspectral imaging, and drone-based surveys. 
• These tools offer critical information for sectors such as Urban Development, Infrastructure Development, Climate Studies (Deep Ocean Mission), and Agriculture etc.

Significance of Geospatial Technologies

• Agriculture: Precision agriculture supported by drones and satellite imagery improves crop yield and resource utilization.
• Disaster Management: Geospatial data enables early warnings for floods, droughts, and natural disasters, enhancing preparedness.
• Urban Development: Smart cities use GIS for traffic management, waste collection, and public services.
• Environmental Monitoring: Helps track deforestation, water bodies, and pollution, supporting climate action goals.
• Defence and Security: Enables border surveillance, mapping and strategic operations.

Government Initiatives

• PM Gati Shakti focuses on infrastructure development using real-time mapping.
• The National Geospatial Policy 2022 aims to democratize geospatial data and enhance public-private partnerships.
• Smart Cities Mission uses location-based analytics for improved urban planning.

Technological Advancements

• Hyperspectral Imaging: It Captures hundreds of light wavelengths, enabling applications such as;
  • Early detection of crop diseases and soil nutrient levels.
  • Monitoring water pollution and methane leaks.
• Drone Technologies: Companies like ideaForge have revolutionized data collection through real-time, high-resolution mapping, offering centimeter-level accuracy for sectors like defence and mining.

Challenges

• Data Security: Geospatial data is sensitive, posing national security risks.
• Lack of Awareness: Limited awareness among small enterprises about geospatial applications.
• Infrastructure Gap: Ensuring widespread access to geospatial infrastructure requires significant investment.
• Skill Gap: Need for trained professionals in geospatial data analysis and drone technologies.

Way Ahead

• Policy Implementation: The National Geospatial Policy 2022 must focus on data sharing frameworks and encouraging public-private collaborations.
• Capacity Building: Train professionals in geospatial technologies through academic programs and research incentives.
• Boosting Startups: Promote indigenous startups like Skyroot Aerospace and ideaForge to strengthen domestic capabilities.
• Global Partnerships: Collaborate with global space agencies and private firms to expand India’s geospatial exports.

Source: ET