Global Aerial Imagery Market Analysis Highlighting Opportunities and Development Status during 2018-2024 (18.1 % CAGR)
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Increased usage of Drone-based technology driving the aerial imagery market across the globe.
The market for Aerial Imagery is witnessing a comparable disruption as drone-based technology is reshaping the industry landscapes and is getting widely adopted across sectors- from agriculture to defence intelligence. Increased usage of drone for urban planning, forestry and geology are anticipated to drive the demand for the aerial imagery market. Drone is an unmanned aircraft which is equipped with different state of the art technology such as infrared and digital cameras that can be controlled by a remote-control system. Drones are not required to carry data links that add weight and complexity, and are thus, used by various government authorities to create maps instead of relying on central mapping authorities (manual mapping). Drones are gaining adoption in construction sites as they provide a full view of the infrastructure from different angles to make strategic decisions for mapping roads, parking, and open space. Large scale capital projects and infrastructure maintenance are getting benefitted from aerial imagery conducted through drones, which are also known as UAV. Images collected through drones not only perform hazardous work but also make it easy for businesses to acquire image sets with great precision and in a cost-effective manner.
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The global aerial imagery market is segmented on the basis of product type, application type, and vertical type. On the basis of product type, the market is segmented into low oblique, vertical, and high oblique. The sale of low oblique aerial imagery contributed the largest revenue to the global aerial imagery market in 2017 and is estimated to witness the highest growth during 2018-2024. On the basis of application, the market is segmented into surveillance & monitoring, geospatial, energy & resource management, conservation & research, media & entertainment, disaster management, and construction & development. The demand for aerial imagery for use in energy & resource management applications is expected to grow at the fastest rate, during the forecast period. However, with aerial imagery being predominantly used in various surveillance and monitoring purposes, this application segment is expected to continue generating the highest revenue in the global market, during the forecast period. Based on Vertical, the market is segmented into government, energy & mining, defense, agriculture & forestry, media & entertainment, civil engineering & archaeology, and others. Government industry led to the use of aerial imagery and generated the highest revenue for the global market among all end-user industries, in 2017.
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High competition among key players in the market.
Some of the global strategic developments during the research, depict the global aerial imagery market is moving towards consolidation. The leading players are focusing especially on technological improvements, and integrated and joint innovation practices to build an entirely new ecosystem for aerial imagery. This would further strengthen their position and market presence, globally. Some of the major companies operating in this industry include Eagle View Technologies, Fugro N.V., Digital Aerial Solutions LLC, Google Inc., Kuncera International Inc., Blom ASA, Getmapping PLC, and Nearmap Ltd.
The market to witness the fastest growth in Asia-Pacific during the forecast period
On the basis of region, the market is segmented into five parts namely North America, Europe, Asia Pacific, Middle East, Africa and Latin America. North America was the largest region in the global aerial imagery market in 2017 and it is estimated to grow over a CAGR of 18.1% during 2018-2024.
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