Newsletter

Subscribe

CRCSI: Value of spatial information to NSW will surpass $1 billion by 2022

By on 22 August, 2017
CRCSI

Sydney’s Light Rail is one of the many case studies the CRCSI examines in their report on the value of spatial information to the industries of NSW. Image source: Transport for NSW.

 

The Cooperative Research Centre for Spatial Information (CRCSI) has released a comprehensive report on the monetary value of spatial services to industries across the state of New South Wales (NSW). The report draws on case studies and desktop research to estimate productivity impacts of spatial information.

The last study of this kind was in 2008 by the CRCSI and it was nationwide. While the previous study was broad in its coverage, the present study dives deep into the details of the use (and lack-thereof) of spatial technology within 10 areas of activity within NSW:

  • Land and property administration
  • Smart cities and local governments
  • Building construction and infrastructure
  • Emergency services and insurance
  • Smart buildings and infrastructure
  • Agriculture and forestry
  • Asset management
  • Planning and environment
  • Utilities
  • Logistics

 

NSW is home to 7.8 million people and is Australia’s most populated state. It is also home to Australia’s largest city, Sydney, with a GDP of approximately $400 billion AUD. Overall, the CRCSI estimates the value of spatial data to the whole of the state per year be more than $900 million AUD. They expect this number to rise to nearly $1.4 billion AUD per year by 2022 with the additional uptake of technology and enhanced government support. With the additional implementation of government-lead measures, including a digital cadastre and federation of 3D models of the built environment, the value is projected reach $3 billion AUD per year within 20 years.

The value is primarily calculated through productivity impacts, for example reduction in errors and double-handling, reduction in travel time, reduction in insurance premiums, and reduction in transportation distances.

Value was also attributed to improved outcomes in emergency services and human lives saved. Improvements to optimal route analysis and intelligent positioning of ambulance stations were both cited as contributing to the human value of spatial information and technology.

The industry with the biggest potential gains to make in the adoption of spatial technology was building construction and infrastructure. Specifically, if NSW were to adopt a more methodical approach to BIM implementation and in defining standards for the industry.

Beyond its financial value, the report makes it plain – providing services for a functional, modern society just can’t occur without the aid of spatial information and the people who know how to use it. Click here to read the report and to see if your business is leaving money (or lives) on the table.

You may also like to read:



Newsletter

Sign up now to stay up to date about all the news from Spatial Source. You will get a newsletter every week with the latest news.

Free data and software for disaster response
The need for aid and volunteers is high, and the GIS communi...
Big carrots draw students into ageing surveying industry
Increasing demand for surveyors driving big incentives for u...
Great Barrier Reef monitoring is for the drones
Drones are tracking bleaching across the Great Barrier Reef....
There’s an app for that!
From the office to the job site, construction's top 10 apps ...