Press release
Geospatial Imagery Analytics Market Trends That Will Shape the Next Decade: Insights from Technological Advancements Revolutionizes Location Capabilities
Geospatial Imagery Analytics
How Large Will the Geospatial Imagery Analytics Market Size By 2025?
In recent times, there has been a significant augmentation in the market size of geospatial imagery analytics, which is projected to expand from $14.73 billion in 2024 to $18.49 billion in 2025, registering a compound annual growth rate (CAGR) of 25.5%. The historical growth can be associated with the increasing demand for location-oriented services, management of emergencies and disasters, progression in urban planning and development of smart cities, preservation and monitoring of the environment, and applications in defense and intelligence.
How Big Is the Geospatial Imagery Analytics Market Size Expected to Grow by 2029?
In the imminent future, the geospatial imagery analytics market is predicted to experience an unprecedented surge, catapulting to $49.61 billion by 2029, with an annual growth rate of 28.0%. This predicted expansion over the forecast period is due to a multitude of factors such as increased emphasis on climate change observation, the development of infrastructure, space tourism and exploration, worldwide connectivity initiatives, health and epidemiological research, economic progress and market insights, as well as measures against unlawful activities. The forecast period is also likely to witness significant trends such as progress in satellite technology, the emergence of cloud-based geospatial analytics platforms, the application in precision farming, city planning and intelligent cities, environmental surveillance, and climate change assessment.
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Which Key Market Drivers Powering Geospatial Imagery Analytics Market Expansion and Growth?
The growth of the geospatial imagery analytics market is anticipated to be fueled by the escalating demand for small satellites. These satellites, weighing less than 100 kg or similar in size to suitcases, are extensively employed in imagery analytics to scrutinize tiny chunks of information around the world. They offer a more cost-effective solution while still maintaining reliable and precise results in moment-to-moment operations. An example of this was seen in September 2022. As reported by the Government Accountability Office, a governmental entity based in the US, the number of active satellites in orbit as of spring 2022 was nearly 5,500. Predictions suggest that by 2030, an additional 58,000 will be launched. Consequently, the soaring demand for small satellites is spurring the growth of the geospatial imagery analytics market.
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Which Fast-Growing Trends Are Poised to Disrupt the Geospatial Imagery Analytics Market?
The surge of technological advancements is the predominant trend currently sweeping the geospatial imagery analytics market. To maintain their market standing, dominant companies within this sector are pioneering new technological developments. An example of this was seen in May 2023 when Google LLC, an American software corporation, unveiled Geospatial Creator. This sophisticated tool is intended to help developers and creators easily construct and roll-out augmented reality (AR) experiences grounded in the physical world. By utilizing ARCore and Google Maps Platform technologies, users are able to craft immersive content in a matter of minutes, bypassing the need for extensive coding expertise. The tool employs high-resolution 3D tiles that deliver a genuine depiction of the designated area, enabling creators to accurately superimpose their digital content onto the physical world.
What Are the Emerging Segments in 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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Who Are the Global Leaders in the Geospatial Imagery Analytics Market?
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.
Which are the Top Profitable Regional Markets for the Geospatial Imagery Analytics Industry?
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
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