Press release
Emerging Trends Influencing The Growth Of The Geospatial Imagery Analytics Market:Technological Advancements Revolutionizes Location Capabilities
Geospatial Imagery Analytics
How Big Is the Geospatial Imagery Analytics Market Size Expected to Be by 2034?
There has been a substantial expansion in the geospatial imagery analytics market size in the past few years. The market, currently worth $14.73 billion, is projected to reach $18.49 billion by 2025, representing a compound annual growth rate (CAGR) of 25.5%. This considerable growth during the historic period is due to factors like the increased requirement for location-based services, disaster management and emergency response, progress in urban planning and smart city development, environment surveillance and protection, and applications in defense and intelligence.
Expectations are set for the geospatial imagery analytics market to witness remarkable expansion in the upcoming years. The market size is predicted to escalate to $49.61 billion by 2029, growing at a compound annual growth rate (CAGR) of 28.0%. The growth expected in this forecast period can be linked to the focus on monitoring climate change, implementing infrastructure development projects, the rise of space tourism and exploration, global connectivity initiatives, healthcare and epidemiological studies, economic development and market insight, as well as efforts to counter illegal activities. Important trends for the forecast period involve developments in satellite technology, the emergence of cloud-based geospatial analytics platforms, applications in precision agriculture, initiatives in urban planning and smart cities, as well as environmental scrutiny and climate change analysis.
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What Are the Emerging Segments Within the Geospatial Imagery Analytics Market?
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
Subsegments:
1) By Video-Based Analytics: Real-time Video Processing, Object Detection And Tracking, Pattern Recognition, Event Detection
2) By Imagery Analytics: Satellite Imagery Analysis, Aerial Imagery Analysis, Drone Imagery Analysis, Multispectral And Hyperspectral Imagery Analysis
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What Long-Term Drivers Are Shaping Geospatial Imagery Analytics Market Trends?
The surge in the demand for small satellites is anticipated to fuel the expansion of the geospatial imagery analytics market. Small satellites, which typically weigh less than 100 kg and are about the size of a suitcase, play an integral role in imagery analytics. They allow for the low-cost analysis of small segments of information from around the world and provide more dependable, precise results in minimal operations. For example, data from the US Government Accountability Office in September 2022 showed about 5,500 active satellites in orbit as of Spring 2022. Furthermore, projections suggest that an additional 58,000 could be launched by 2030. Hence, the rising demand for small satellites propels the growth of the geospatial imagery analytics market.
Who Are the Top Competitors in Key Geospatial Imagery Analytics Market Segments?
Major companies operating in the geospatial imagery analytics market include 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., Google LLC., Zillion Info Tech Solutions Private Limited, Orbital Insight Inc., Mapidea Ltd., Satellite Imaging Corporation, Risk Management Solutions Inc., Fugro NV,onXmaps,GeoMoby,GeoMoby, Pitney Bowes Inc., AAM Pty Ltd., Critigen LLC., MDA CORPORATION LTD., PrecisionHawk Inc.,Sparkgeo Consulting Inc.
What Geospatial Imagery Analytics Market Trends Are Gaining Traction Across Different Segments?
Technological progress is the leading trend observed in the geospatial imagery analytics market as major corporations in the field continue to introduce state-of-the-art innovations to maintain their market stand. For example, in May 2023, Google LLC, an American software enterprise, unveiled Geospatial Creator. This potent tool is designed for developers and creators, allowing them to construct and launch augmented reality (AR) experiences tied to real-world scenarios without needing intensive coding abilities. Leveraging ARCore and Google Maps Platform technologies, it empowers users to generate immersive content timely. The tool employs high-definition 3D tiles for realistic portrayal of the chosen terrain. Such a feature lets creators accurately visualize their digital content in the physical realm.
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Which Regions Are Becoming Hubs for Geospatial Imagery Analytics Market Innovation?
North America was the largest region in the geospatial imagery analytics market in 2024. The regions covered in the geospatial imagery analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Geospatial Imagery Analytics Market?
2. What is the CAGR expected in the Geospatial Imagery Analytics Market?
3. What Are the Key Innovations Transforming the Geospatial Imagery Analytics Industry?
4. Which Region Is Leading the Geospatial Imagery Analytics Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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