Geospatial Imagery Analytics Market Size, Share, Growth, and Industry Analysis, By Type (Imagery Analytics, Video Analytics), By Application (Defense & Security, Agriculture, Healthcare & Life Sciences) and Regional Insights and Forecast To 2031

Updated On: 29 April 2024

GEOSPATIAL IMAGERY ANALYTICS MARKET REPORT OVERVIEW

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The global geospatial imagery analytics market size was USD 3841.2 million in 2019 and will touch USD 18700 million by 2026, exhibiting a CAGR of 25.2% during the forecast period.

Geospatial analysis referred to location-based data collection and processing, which uses a n umber of global positioning systems, georeferencing, metadata and remote sensing to provide accurate modelling. They filter out useful information from the data sets.

The market is driven by use of huge data and artificial intelligence to create geospatial imagery analysis tools.

COVID-19 Impact: Market Growth has Increased Due To Rise In Demand Among Consumers

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Need for remote sensing has been increased during covid pandemic in various sectors such as public health, urban planning and disaster management. Geospatial imagery analytics helped a lot in tracking the spread of virus assessing the impact on public health, tracking populations gatherings, and analyzing adherence to social distancing.  From identifying risk prone area to optimizing treatment solutions geospatial imaging provided valuable information and support for emergency management.

LATEST TRENDS

"Increasing Focus On Climate Change Spur Market Growth"

Chane in climate creating harmful results like drought, or flood which are harming human health and leading reduction in food production adversely and a number of diseases arise due to flood, all such factors reduce worker productivity. Such unpredictable effects can only be analyzed through the image data maps from satellites. Many government organizations are taking initiatives to develop a greener economy and started focusing on studying the effects of climate change which is fueling market growth in future.

GEOSPATIAL IMAGERY ANALYTICS MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into Imagery Analytics, Video Analytics.

• Imagery Analytics: Geospatial imagery analytics used in analyzing huge data in the form of image analytics.

• Video Analytics: Geospatial imagery analytics software can be used get the video form of different data to analyze and track the measures through location-based services.

By Application

Based on application the global market can be categorized into Defense & Security, Agriculture, Healthcare & Life Sciences.

• Defense & Security: Geospatial imagery analysis can be used or defense and security purposes to implement safety measures.

• Agriculture: Geospatial imagery analytics used in agriculture sector to due to high resolution.

• Healthcare & Life Sciences: Geospatial imagery analytics used healthcare and life science to keep tracking disease prone area and implementing treatment solutions in that area.

DRIVING FACTORS

"Rising Demand For Location-Based Services Will Fuel Market Growth"

Growing adoption of location-based services provided by geospatial Imagery analytics in various sectors such as agriculture, urban planning and defense will provide remarkable opportunities to geospatial imagery analytics market growth.

"Rising Development In Satellites Technology Will Expand The Market Growth"

Satellite technology is getting advanced with higher regulation and denser imaging increasing the availability of geospatial image analysis driven by use of huge data and artificial intelligence technology. The demand for geospatial imagery analytics is fueled by factors such as national security and safety measures.

RESTRAINING FACTORS

"High cost of image data and lack of awareness may reduce market share"

High cost of investment to acquire geospatial image data will hinder market growth for business with limited funding and resource availability. Lack of awareness among consumes about the benefits of geospatial image data in various industries constraint market growth.

GEOSPATIAL IMAGERY ANALYTICS MARKET REGIONAL INSIGHTS

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"North America Dominating the Market due to Increasing Investment In New Or Improved Satellite System"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America will continue to dominate the geospatial imagery analytics market share in terms of revenue during forecast period. The region will hold largest market share due to increasing investment in new or improved satellite system. Use of drone technology to support industrial clients in various sectors such as agriculture and disaster management boost market growth in the region. Presence of several industrialized countries with their emphasis on R&D and various technologies will aid the growth of market.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The geospatial imagery analytics market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Hexagon (Sweden)
• Harris (U.S.)
• Digitalglobe (U.S.)
• Google (U.S.)
• Trimble (U.S.)
• Rmsi (India)
• Planet Labs (U.S.)
• Environmental Systems Research Institute (U.S.)

INDUSTRIAL DEVELOPMENT

April 2023: NVS Global Inc. compliance assessment and consulting solutions company completed acquisition of L3Harris technologies, Inc. commercial geospatial technology and software business known as visual information solutions.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.