benefits it provides to both consumers and businesses?
Put simply, geospatial technology is driving economic growth and job opportunities in India. This is evidenced by a Boston Consulting Group report, commissioned by Google. The report reveals that the Indian geospatial services industry generated $3 billion in revenue in 2011 alone while accounting for approximately 1,35,000 jobs. The industry is composed of geo-data providers, location-enabled device manufacturers, geo-app developers, and a growing network of geospatial experts and educators.
According to the BCG report, geospatial services help Indian businesses drive $40-45 billion in revenue, save $70-75 billion in costs and affect 8-9 million jobs in India. The report also found that Indian consumers are also willing to pay $1.5-2 billion more than they currently do for geospatial services such as online maps, navigation systems and local searches.
Geospatial services allow consumers, businesses, governments, and other organisations to make decisions based on geographic data. The primary ingredients of geospatial services are electronic maps and satellite imagery describing our physical and human environment.
Commenting on the report, Lalitesh Katragadda, country head—India Product, Google says, “Geo services helped generate $2 billion in revenue within the Indian accommodation and food services industry alone. In the report, restaurants reported benefitting from new customers finding them through local searches. Users benefit as it makes it easier for them to find the information on local offerings and creating valuable efficiencies in their day-to-day lives.”
Currently, geo services represent 0.2% of India’s GDP and affect 2% of the national workforce; however there is tremendous room to grow this industry and create a lasting source of competitive advantage for India. The Indian geo services industry is comprised of companies that process the location data, companies that produce geo-enabled software, and expert industries that use geospatial data to generate insights. Beyond the industry itself, a wide variety of other industries in India also use geo services to make their businesses more efficient and productive.
“Geo services such as the Google Maps APIs are helping to grow the Indian economy by enabling job opportunities, and paving the way towards future innovation. To enable continued growth, governments, companies, researchers and consumers all need to encourage mapping innovations and investments in India,” Lalitesh adds.
Indeed, geospatial services industry in India is still at a nascent stage. Google Maps, Google Map Maker and the Google Maps APIs are revolutionising the geospatial industry and making maps more widely available, but there’s a