Press release
Geospatial Imagery Analytics Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Oracle Corporation, Hexagon AB,Environmental Systems Research Institute Inc.,TomTom NV
Geospatial Imagery Analytics Market Characteristics
The Business Research Company offers in-depth market insights through Geospatial Imagery Analytics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The geospatial imagery analytics market size has grown exponentially in recent years. It will grow from $11.86 billion in 2023 to $15.02 billion in 2024 at a compound annual growth rate (CAGR) of 26.7%. The growth in the historic period can be attributed to demand for location-based services, emergency response and disaster management, urban planning and smart cities development, environmental monitoring and conservation, defence and intelligence applications..
The geospatial imagery analytics market size is expected to see exponential growth in the next few years. It will grow to $38.56 billion in 2028 at a compound annual growth rate (CAGR) of 26.6%. The growth in the forecast period can be attributed to focus on climate change monitoring, infrastructure development projects, space tourism and exploration, global connectivity initiatives, healthcare and epidemiological studies, economic development and market intelligence, efforts to combat illegal activities.. Major trends in the forecast period include advancements in satellite technology, cloud-based geospatial analytics platforms, application in precision agriculture, urban planning and smart cities, environmental monitoring and climate change analysis, .
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Market Segmentation:
The geospatial imagery analytics market covered in this report is segmented -
1) By Type: Video-Based Analytics, Imagery Analytics
2) By Geospatial Technology: Global Positioning System (GPS), Geographical Information Systems (GIS), Remote Sensing (RS), Unmanned Aerial Vehicles (UAVs)
3) By Deployment Mode: Cloud, On-Premises
4) By Organization Size: Large Enterprises, Small and Medium-Sized Enterprises (SMEs)
5) By Application: Agriculture, Mining and Manufacturing, Defense and Security, Energy, Utility, and Natural Resources, Government, Healthcare, Insurance, Other Applications
Major Driver - Surging Demand For Small Satellites Powers Growth In Geospatial Imagery Analytics Market
The increase in demand for small satellites is expected to drive the growth of the geospatial imagery analytics market going forward. The small satellites are usually less than 100 kg, or the size of suitcases. These satellites are used in imagery analytics for analyzing small pieces of information across the globe with less cost, and more reliable and accurate results in minute operations. For instance, in February 2022, according to BryceTech's data, an Egypt-based analytics and engineering firm, the small satellite business continued to develop at a strong rate, with the number of small satellites (600 kg) launched increasing 45% year over year. In addition, Starlink, a US-based satellite internet company, and OneWeb, a UK-based communications company, are responsible for nearly all of the 1,743 tiny satellites launched in 2021, accounting for nearly 95 percent of the total upmass. Thus, the upsurge in demand for small satellites drives the geospatial imagery analytics market growth.
Competitive Landscape:
Major companies operating in the geospatial imagery analytics market report are Oracle Corporation, Hexagon AB,Environmental Systems Research Institute Inc.,TomTom NV, Trimble Inc., RMSI Private Limited,Planet Labs PBC,Maxar Technologies Holdings Inc.,L3Harris Technologies Inc., UrtheCast Corporation,Google LLC.,Harris Intertype,Zillion Info Tech Solutions Private Limited, Orbital Insight Inc., Mapidea Ltd., Satellite Imaging Corporation, Hexagon AB,Risk Management Solutions Inc., Fugro NV,onXmaps,GeoMoby,GeoMoby, Pitney Bowes Inc., AAM Pty Ltd.,WS Atkins plc.,Critigen LLC., Digital Map Products Inc,MDA CORPORATION LTD., PrecisionHawk Inc.,Sparkgeo Consulting Inc.
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Top Trend - Technological Advancements Revolutionizes Location Capabilities
Technological advancements have emerged as the key trend gaining popularity in the geospatial imagery analytics market. Major companies operating in geospatial imagery analytics are introducing new technological innovations to sustain their position in the market. For instance, in January 2021, Esri, an Indian-based company that manufactures geospatial imaging analytics systems, launched a new technology known as the ArcGIS Platform. Esri's ArcGIS Platform works on a cloud consumption model. App developers typically utilize this technology to identify how to incorporate location capabilities into their apps, business processes, and products. It helps in providing easy access to geospatial technology.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Geospatial Imagery Analytics Market Characteristics
3. Geospatial Imagery Analytics Market Trends And Strategies
4. Geospatial Imagery Analytics Market - Macro Economic Scenario
5. Geospatial Imagery Analytics Market Size And Growth
…..
27. Geospatial Imagery Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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