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Geospatial Imagery Analytics Market Will Reach $14.7 Billion by 2023
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On the basis of collection medium, the geospatial imagery analytics market is categorized into geographic information systems (GIS), satellites, unmanned aerial vehicles (UAVs), and others. Of these, the fastest growth during the forecast period is expected from the UAV category. This is attributed to the increasing adoption of UAVs by government bodies to gather geospatial information.
Advancements in this field is a key factor driving the growth of the geospatial imagery analytics market. Of the two imaging types, the market for geospatial video analytics is expected to witness faster growth during the forecast period. This can be ascribed to the rising demand of video analytics in government as well as non-government sectors, and advent of industrial automation.
During the forecast period, APAC is expected to lead the geospatial imagery analytics market in terms of growth. The increasing number of internet users due to the rising adoption of connected devices is likely to offer lucrative opportunities for the growth of this market in the region.
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Some of the key players operating in geospatial imagery analytics market include Fugro N.V., Google Inc., Trimble Navigation Ltd., Environmental Systems Research Institute Inc. (Esri), Planet Labs Inc., UrtheCast Corp., KeyW Corporation, Satellite Imaging Corporation, RMSI and Maxar Technologies.
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