1Spatial’s core technology validates, rectifies and enhances customers’ geospatial data. The combination of its software and advisory services reduces the need for costly manual checking and correcting of data.
1Spatial made good progress on its transition plan during FY19. It increased both revenue and EBITDA margins, divested Enables IT, raised capital and shifted to a subscription licensing model. Investment in innovative 3D, LMDM and mobile projects should begin to bear fruit in FY20 and ensure that this progress continues. The recent acquisition of Geomap-Imagis (GI) further enhances its capability with Esri platforms and boosts its market presence and scale.
The GIS industry is large and growing – P&S Market Research estimates the global GIS software, services and hardware market at US$9.0bn, forecasting a 10.1% CAGR to reach US$17.5bn by 2023. Software is estimated to account for around half of this market at present, with growth forecast at c 9% through 2023, whereas the revenue opportunity for services is expected to grow more rapidly – at c 12% from around US$3.5bn at present.