Wednesday, January 30, 2013

Geo-Services are a Multi-Billion Dollar Industry

Google released a report today that it commissioned about the economic impact of geo-services. I'm not surprised Google is increasingly interested in this area considering their extensive mapping and satellite imagery projects, not to mention their huge purchases last year of Frommers and Zagat.

What I was surprised to learn though was that the geo-services industry generates up to $270 billion of revenue globally - compared with $25 billion for the video game industry. Games are often hyped as the largest digital sector - but it's not even close.  (So I think I'm also in the right sector!)

The full study is available online but they released an infographic.

Infographic of Geo-Services Industry's Economic Impact
Click for a larger version
Infographic by Google, Oxera, and BCG (January 2013)

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