Geospatial Imagery Analytics Market: Expected to Reach US$ 8,951.5 Mn in 2026

According to a new market report published by Transparency Market Research, the global geospatial imagery analytics market was valued at US$ 4,567.0 Mn in 2016 and is expected to expand at a CAGR of 7.0% from 2018 to 2026 to reach US$ 8,951.5 Mn by the end of the forecast period. According to the report, the global geospatial imagery analytics market will continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific will continue to be at the forefront of global demand, with the market in the region expanding at a CAGR of about 7.5% throughout the forecast period.

Increasing Penetration of Geographic Information System (GIS) Technology Driving the Market

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The global geospatial imagery analytics market is primarily driven due to rise in adoption of geospatial information system technology. Rise in number of connected mobile devices has led to increase in penetration of consumer navigation systems. Over the last few years, GIS has observed significant growth in disaster management and related applications including climate change, carbon management, flood management, etc. Through this technology, users can integrate, analyze, and detect patterns and trends for large amounts of data sets, mainly geospatial data. Various factors, including sharp rise in geospatial information generated through GPS devices, smart phones, Google, and other sources, have resulted in dramatic advances in GIS technology. As GIS technology remains an important component of geospatial imagery analytics, in the near future, development in GIS technology is expected to propel the geospatial imagery analytics market.

Although the availability of online satellite images provides many beneficial commercial applications, these images may also be used for improper activities. Potential criminals might conduct virtual surveillance of banks, parks, government buildings, or schools using available satellite images without causing any suspicion. If suitable measures are not taken, lack of appropriate security and privacy measures may hamper the geospatial imagery analytics market.

Geospatial Imagery Analytics Market: Scope of the Report

The report offers detailed segmentation based on analytics type, technology, deployment, end-use, and region. In terms of analytics type, the video-based segment is estimated to expand at a significant CAGR during the forecast period. In terms of technology, the global positioning system segment is followed by the geospatial information systems segment. The segment are expected to dominate the market throughout the forecast period. This is mainly due to rise in demand for location-based information, increase in smartphone proliferation, and rise in need for navigation systems in various end-use industries such as aviation, transportation, etc. Furthermore, in terms of deployment type, the cloud-based analytics solution segment held more than 50% share in the overall market. Since cloud-based geospatial imagery analytics solutions are cost-effective and have the capability of easy deployment and management, their adoption among various end-user is high in comparison to on-premise solutions. In terms of end-use, the defense & security, environment monitoring, energy, utilities, & natural resource, and construction segments together constituted more than 50% of overall market share. Moreover, these industries are expected to be the leading users of geospatial data during the forecast period.

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This release was published on openPR.