Innovations in Technology will Propel the Geospatial Imagery Analytics Market Growth Further
Earth observation satellites, airborne sensors, and unmanned aerial vehicles keep feeding the store of Earth images incessantly. The unprecedented supply of Earth observation data gathered from these and other sources contain rich and diverse sets of information that can be used across a number of industries to formulate effective strategies for growth and expansion. Data regarding trends, anomalies, or patterns related to environment and Earth events is witnessing a significant rise in demand across a number of industries. This, analysis geospatial imagery is increasingly becoming one of the key and rapidly expanding arms of the analytics industry.
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The highly dynamic market for geospatial imagery analysis is witnessing a rapid rise in technological advancements. The vendor landscape of the market is becoming intensely competitive and a number of companies are venturing into the field, targeting high growth potential industries and regional markets. To earn sustainable profits and stay ahead of the competition, companies in the market are focusing on improving their offerings by combining principles from machine learning, computer vision, and artificial intelligence sectors.
Uncovering high-level and accurate abstractions, advanced geospatial imagery analytics solutions provide actionable insights to businesses. The rising awareness among businesses regarding these benefits of geospatial imagery analytics is acting as a key growth driver of the market. This report provides a detailed overview of the present state of development and the future growth potential of the global geospatial imagery analytics market.
Geospatial technology allows experts and operators to store, capture and display and process an extraordinary amount of information which is related to the environment and wide variety of phenomena. The exceedingly wide range data which is available pose critical challenges for the operators which require extract key pieces of knowledge from heterogeneous and large sets of geospatial information. Geospatial imagery analytics can provide solutions which can provide effective solutions for ensuring enhanced environmental control and prevent environmental crisis. Geospatial imagery analytics refers to the videos or image data which relates to outer or inner data surface of the earth. Moreover, the geospatial imagery data also provides historical shifts and insights, future predictions and current occurrences which are in relation to the shifting earth surface and its impacts on humans.
Many organizations are opting for a wide range of data which include text data, social data, machine data and a diverse form of analysis which is required for achieving sustainability. The geospatial tools are incorporated with a wide range of technologies which would provide businesses or organizations in focusing at incorporating analytics with geographic information system (GIS). This helps in getting insights from real time market intelligence and strategizes business. This is expected to drive the demand for geospatial imagery analytics market. Some of the factors driving the geospatial imagery analytical market include commercialization of geospatial information, need for safety and security and amalgamation of mainstream technology with geospatial imagery analytics. Stringent government regulation in countries all over the world against the application of geospatial imagery analytics is a key factor in restraining the market growth. Some of the key opportunity areas driving the geospatial imagery analytics market are big data and the integration of cloud computing Further with the reduction in cost by increasing focus in research and development is further expected to drive the market.
The geospatial imagery analytics market by type could be segmented into video and images. The image segment in the geospatial imagery analytics market segmented by type led the market. Application of earth imagery across a wide range of industries is expected to fuel the demand. Further, the geospatial imagery analytics market by collection medium could be segmented into satellites, unmanned flying vehicle, and geographic information system (GIS) and others.
The geospatial imagery analytics market by end use industry could be broadly segmented into government, defense and surveillance, energy sector, environment monitoring, agriculture sector, insurance sector, healthcare industry, mining sector and other. The environment monitoring segment in the geospatial imagery analytics is expected to lead the geospatial imagery market segmented by end use industry.
Geographically the geospatial imagery analytics market could be segmented into Asia Pacific, North America, Europe, Middle East and Africa and Latin America. Europe is expected to lead the geospatial imagery analytics market. North America is predicted to growth at the fastest rate over the next few years. Asia Pacific is expected to follow North America in terms of growth rate over the next few years.
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Some of the key players operating in the geospatial imagery analytics market include Digitalglobe Inc. (Colorado, U.S.), Hexagon AB (Sweden), Urthecast Corporation (Vancouver, Canada), Harris Corporation (Melbourne, Florida, United States), Trimble Inc. (Sunnyvale, California, U.S.), Google Inc. (California, U.S.), Keyw Corporation (Maryland, U.S.), Geocento (Madrid, Spain), Satellite Imaging Corporation (U.S.) and EOS Data Analytics Inc. (California, U.S.) among others. The key players operating in the geospatial imagery analytics market adopts various strategies to expand their business and have competitive advantage over its competitors. Partnership, merger and acquisition and product development are some of the business strategy adopted by the key players operating in the geospatial imagery analytics market.
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