Geospatial imagery analytics collects, utilizes, and exhibits geographic information system (GIS) data and imagery, including GPS and satellite photographs. It uses data from different techniques such as GPS, location sensors, social media, mobile devices, satellite imagery to build data visualizations for understanding phenomena and finding trends in intricate relationships between people and places. It is used to construct geographic models and data displays for more accurate modeling and predictions of trends.
The global geospatial imagery analytics market expected to increase market value by USD 18.2 billion with flourishing CAGR in the forecast period from 2020-2027. The market demand for geospatial imagery analytics is bolstering due to the rising requisition of geospatial technology in retail, gaming, engineering, and marine industries. The geospatial imagery analytics market attributed to witness significant growth over the forecast period.
Increasing demand from expanding the aerospace and aviation industry for data acquisition and dissemination and extracting information from it is contributing to propelling the demand for geospatial technology from developed and developing countries. The use of geospatial imagery helps strengthen defense and military capabilities attributed to driving the geospatial imagery analytics market eventually over the forecast period.
The rising interest of investors willing to invest in building satellites to gather the most useful earth data to get an end-user base and to get high-resolution data helps to influence the geospatial analytics market strongly across the globe.
Moreover, a rising number of startups, increasing government investment, emerging GDP income, and fueling need for arranging urban mobility plans owes to the increasing urban population help in inflating the demand for the geospatial analytics market around the globe substantially.
Furthermore, Government and non-profit environmental organizations, companies, and agencies worldwide use geospatial technology to transfigure laboring produced maps and correlated expressive records into digital databases. Additionally, geospatial imagery, one used to be a tool that was affordable only for the most significant organization. It has become a cost-effective option for even the smallest organizations, which allocate to bolster the demand for geospatial imagery analytics that will strengthen rapidly across the globe in the forecast period.
The constant rise in the current urban population is causing an increasing demand for geospatial imagery in planning high-rise buildings. It is also used to assess feasibility and plan implementation, and improve urban planning, architecture, and overall design, probing with the possible impact of different building configurations.
The emerging use of geospatial analytics in connecting fish species with their habitat using habitat suitability indexes and monitoring shark’s recovery rates with acoustic tags allows detection in multiple dimensions. It has led to a significant rise in demand for GIA technology around the globe.
Based on the type, the global geospatial imagery analytics market bifurcated into Imagery Analytics, Video Analytics. The video analytics segment estimated to dominates the maximum share of the global geospatial imagery analytics market. It is mainly due to the use of video analytics for the rising demand for satellite remote sensing and drone surveillance in many industries. Satellite remote sensing is the most immediate and realistic productivities transformed from aerospace S&T, which helps in sensing data acquisition remotely and dissemination and data processing and information extraction. The capacity for satellite image acquisition has been enhanced mainly in terms of quality and quantity. On the other hand, an image processing platform is an essential infrastructure for satellite remote sensing applications. Platform development is increasingly becoming an important factor restricting the use of satellite remote sensing and the development of spatial information-related business.
Based on the collection medium, the global geospatial imagery analytics market classified into Geographic Information Systems (GIS), Satellite, Unmanned Aerial Vehicles (UAVs), and others. The unmanned aerial vehicle (UAV) segment dominated the largest market share in the global geospatial imagery analytics market. It is mainly due to the use of unmanned aerial vehicles in many small businesses to capture high-resolution images coupled with cost-effectiveness. The unmanned aerial vehicle adoption is increasing as rising technology development that is readily available than another collection medium.
Based on the vertical, the global geospatial imagery analytics market segmented into Manufacturing, Defense & Security, Government, Environmental monitoring, Energy, utility, and natural resources, Engineering & Construction, Mining & Manufacturing, Insurance, Agriculture, Healthcare & life sciences, Others. Healthcare & life sciences dominate the largest end-use segment in the global geospatial imagery analytics market in the forecast period from 2020-2027. The adoption of geospatial imagery analytics is contributing the largest share in the healthcare and science segment as it helps in providing value-based healthcare services and population health management. It also helps identify the outbreak of diseases and the extent of spread by providing insights through patient data and geospatial data.
Based on geography, the global geospatial imagery analytics market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is the world’s fastest-growing global geospatial imagery analytics market, accounting for the largest share. It is mainly due to an emerging disposable income, increasing adoption of drone technology, emerging companies with expanding the scope of digitally aligned with the infrastructure.
Companies such as Hexagon AB, Harris Corporation, DigitalGlobe, Esri, Google, Trimble and others are key players in the global geospatial imagery analytics market.
By Collection Medium