Geospatial Imagery Analytics Market is valued at USD 3.97 Billion in 2018 and expected to reach USD 27.88 Billion by 2025 with the CAGR of 32.1% over the forecast period.
Factors such as Need to manage natural resources, infrastructure & utilities and to develop information systems for government institutions and companies are contributing in the market growth.
Scope of Geospatial Imagery Analytics Market is as;
Geospatial analytics manipulates gathers and displays geographic information system (GIS) data and imagery by GPS and satellite photographs. It uses data from all kinds of technology such as social media, location sensors, GPS, mobile devices and satellite imagery for building data visualizations to understand the phenomena and finding trends in complex relationships between people and places. Visualization can include graphs, statistics, maps and cartograms which show historical changes and current shifts and Geospatial imagery covers a wide range of graphical products that convey information about natural phenomena and human activities occurring on Earth's surface. That term can include multispectral or hyperspectral digital imagery which includes portions of the electromagnetic spectrum that lie beyond the range of human vision, panchromatic and color (black and white) aerial photographs and products such as shaded relief maps or three-dimensional images produced from digital elevation models. The initial form of geospatial imagery was aerial photography and it consists of photographs taken from an airborne or spaceborne camera. Those Aerial photographs can be taken either vertically or obliquely. The resolution of geospatial imagery has increased over time and the Keyhole intelligence satellites that have been launched by the United States since the early 1960s.
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Geospatial Imagery Analytics Market is segmented into type and application. On the basis of type the market is segmented into Imagery Analytics and Video Analytics. On the basis of application the market is segmented into Defense and Security, Insurance, Agriculture and Healthcare and Life Sciences.
The regions covered in this Geospatial Imagery Analytics Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Geospatial Imagery Analytics Manufacturers:
Globally Manufacturers such as,
Harris Corporation
Hexagon Ab
Keyw Corporation
Satellite Imaging Corporation
Urthecast Corporation
Geocento
Digitalglobe
Trimble
Eos Data Analytics
Others
Increasing demand for GIS services by businesses is driving the market growth.
The businesses are using geospatial analytics to improve their informative decision making and to understand customer preferences to increase their sales in the targeted demography. For instance, According to Idea Group Publishing (TLFe Book), sum of revenues for GIS core-business will be $1.75 billion in 2003, an 8% increase from 2002. The GIS software vendor sales totaled $1.1 billion, two thirds of the total, while services accounted for 24%. Hence increasing demand for GIS services by businesses is one of the key factors for driving the market growth. Also the adoption of drones and surveillance cameras by businesses to utilize and analyze the video content for supporting their daily operations is fueling the market growth. For instance, the global commercial drones market range between US$ 2 billion to US$ 6.5 billion by 2020, total addressable market for commercial drones to be as high as US$ 130 billion in 2015 and other sources expect the economic impact to reach US$ 80 billion by 2025 and the agriculture drones market will reach US$ 3.7 billion and it will reach to US$ 30 billion by 2025 and a current addressable market impact of US$ 32.4 billion. And as the companies are offers video recording and analysis systems which are ideal for capturing videos for mobile mapping surveys, real-time reporting, and post-mission mapping. Hence it is fueling the market growth. Moreover, the growing use of location-based services (LBS) is expected to offer immense growth opportunities to the global geospatial imagery analytics market. However, increasing government compliance pertaining to geospatial data and integration of geospatial imagery analytics data with enterprise solutions are restraining the market growth.
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North America is dominating the Geospatial Imagery Analytics Market.
Geographically, North America region is dominating the geospatial imaginary analytics market. This is due to an increase in investments in new satellite systems into the region. For instance, According to Bryce Space and Technology, LLC, the global space economy was an estimated $345 billion USD in 2016. The United States leads in government space spending, this is with an estimated $48 billion spread among 11 agencies & offices and North America region has the largest combined government space budget it is nearly $50 billion. And the region has several key vendors such as Trimble, Google, Orbital Insight, Maxar Technologies, Esri and Planet Labs.
Also Asia-Pacific region is at second position in dominance. This is due to large number of internet users due to the increasing adoption of connected devices in the region are providing sufficient growth opportunities for the growth of the market in the region. For instance, According to Asia Pacific Network Information Centre, there are about 115 million internet users in 2000 and 1 billion users in 2013 in the Asia.
Key Benefits for Global Geospatial Imagery Analytics Market Reports –
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
Global Geospatial Imagery Analytics Market Segmentation –
By Type : Imagery Analytics, Video Analytics
By Application: Defense and Security, Insurance, Agriculture, Healthcare and Life Sciences
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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