According to a BCG report commissioned by Google, the Indian geo services industry generated $3 billion in revenue in 2011 alone while accounting for approximately 1,35,000 jobs. More significantly, the impact of the geo services industry is valued at approximately 15 times its own size.
In India, geo 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 BCG 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.
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.
A wide variety of other industries in India also use geo services to make their businesses more efficient and productive. Consider Meru Cab, India's largest cab provider and the third largest taxi operator globally. Meru Cab oversee over 20,000 trips a day across the four massive metros of Mumbai, Delhi, Hyderabad and Bangalore — using geo services.
Indeed, geo services industry in India is still at a nascent stage. To ensure that geo services continue to be a valuable driver of the Indian economy, there is a need to invest in it—through support of open data policies, product innovation, better satellite technology, and pushing for more geography education programs in schools.
Google Maps, Google Map Maker and the Google Maps APIs are revolutionizing the geo industry and making maps more widely available, but there's a long way to go.
Source- Times of India.