What is the economic impact of Geo services?

How do consumers and the economy benefit from electronic maps and navigation devices (incl Infographics)?

This report, prepared on behalf of Google, quantified some of the consumer welfare benefits that arise from the use of these services and devices. These benefits include time savings from avoiding wasted journey time—estimated to be around 1.1 billion hours per year globally—and improved emergency service response—helping to save 152 lives a year in England. The report also quantified the economic value of the sector, based on reported commercial revenues, as being in the range of $150 billion to $270 billion.

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Source: oxera.com

 

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