Geospatial Imagery Analytics Market Outlook, Critical Insights, Trends Analysis, Key Players And Forecast To 2033

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, .

Market Overview -
Geospatial imagery analytics refers to an analytical solution that provides images and videos of the earth. Geospatial imagery analytics uses data collected from satellite images and is used for examining urban planning, climate conditions, and disaster response management. Companies in other sectors use the data to develop contingency plans for future risks. It is used to get information about natural phenomena and human activities occurring on the earth's surface.

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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.

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.

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Key Segments -

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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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