Press release
Geospatial Imagery Analytics Market: Spotlight on CAGR, Key Growth Drivers and Future Trends
Exponential Growth Foreseen for Global Geospatial Imagery Analytics MarketWhat Is The Projected Market Size Of The Global Geospatial Imagery Analytics Market And Its Growth Rate?
The geospatial imagery analytics market recorded ample growth in recent years and shows no signs of slowing down, with various driving factors spurring the industry forward. Some key statistical highlights include:
o From 2024's $14.73 billion, the market size is projected to reach $18.49 billion in 2025, signaling a compound annual growth rate (CAGR) of 25.5%
o The momentous growth in the historic period can be linked to factors like rising demand for location-based services, heightened focus on emergency response and disaster management, advancements in urban planning and smart city development, and need for environmental monitoring, among others
o Going forward, it's expected to reach $49.61 billion in 2029 with a compound annual growth rate (CAGR) of 28.0%
What Is Driving The Growth In The Geospatial Imagery Analytics Market?
Driving the geospatial imagery analytics market growth is the rise in demand for small satellites, typically weighing less than 100 kg. Deemed invaluable for imagery analytics, these handy machines provide accurate, reliable results and help analyze minute global pieces of information at low cost. As an illustration, the Government Accountability Office disclosed in September 2022 that there were nearly 5,500 active satellites orbiting the Earth in spring 2022, with an estimated 58,000 more anticipated launches by 2030. This surge in small satellite demand propels the geospatial imagery analytics market's growth.
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Who Are the Key Players Driving Geospatial Imagery Analytics Market Growth?
Significant industry players leading the geospatial imagery analytics market include:
o Oracle Corporation
o Hexagon AB
o Environmental Systems Research Institute Inc.
o TomTom NV
o Trimble Inc.
o RMSI Private Limited
o Planet Labs PBC
o Maxar Technologies Holdings Inc.
o L3Harris Technologies Inc.
o Google LLC
What Are The Key Trends In The Geospatial Imagery Analytics Market?
Key trends in the geospatial imagery analytics market include:
o Technological advancements in satellite technology
o Development of cloud-based geospatial analytics platforms
o Growing application in precision agriculture
o Role in urban planning and smart city projects
o Significant contributions to environmental monitoring and climate change analysis
What Are The Segments Of The Global Geospatial Imagery Analytics Market?
Major segments of the global geospatial imagery analytics market:
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, among others
Which Region Leads The Geospatial Imagery Analytics Market?
Holding the largest market share in 2024, North America is the geospatial imagery analytics market's leading region. The study also covers prominent regions like Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Geospatial Imagery Analytics Market Global Market Report?
o Market Size Analysis: Dissect the Geospatial Imagery Analytics Market's size across various regions, countries, product types, and applications.
o Market Segmentation Analysis: Pinpoint different sub-segments within the Geospatial Imagery Analytics Market for effective classification.
o Key Player Focus: Identify key players' market value, share, and competitive landscape.
o Growth Trends Analysis: Understand the individual growth trends and prospects in the Market.
o Market Contribution: Gauge each segment's contribution to the overall Geospatial Imagery Analytics Market growth.
o Growth Drivers: Highlight key factors influencing market growth, including opportunities and drivers.
o Industry Challenges: Expose challenges and risks affecting the Geospatial Imagery Analytics Market.
o Competitive Developments: Dissect competitive developments such as expansions, agreements, and new product launches in the market.
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