Geospatial Imagery Analytics Market: Global Industry Analysis and Forecast (2022-2029)

Geospatial Imagery Analytics Market size was valued US$ 9.35 Bn. in 2021, expected to grow at a CAGR of 31.23% over 2022-2029, and it is expected to reach US$ 82.29 Bn. in 2029.
Geospatial Imagery Analytics Market Overview:
Geospatial imagery analytics provides image and video data of the earth. Companies in various sectors use the data to determine contingency plans and future risks. Geospatial imagery analytics is mostly used for examining climate conditions, disaster response management and urban planning.

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According to the study, approximately 80% of enterprises possess location data. They help from geospatial analytics for business intelligence by being able to locate customers on a map. With zip code and address data, businesses can see where players are in relation to clients and decide where to locate a store.
Geospatial Imagery Analytics Market Dynamics:
Looking forward, the global market for geospatial imagery analytics is projected to reach a value of US$ 82.29 Bn. by 2029, growing at a CAGR of around 31.23% during 2022-2029. The scope of the MMR report includes a detailed study of global and regional markets for geospatial imagery analytics with the reasons given for variations in the growth of the industry in certain regions.
The Use of LBS is growing rapidly that Provides Lucrative Opportunity for Market Players:
The use of location based services (LBS) is growing rapidly. According to the research, the number of LBS users in the U.S. increased from nearly 196 million in 2016 to closely 219 million in 2017. As location-based services (LBS) relies on the use of this technology, the increasing preference for and adoption of LBS acts as opportunity for the growth of global market of geospatial imagery analytics.


Demand for Secure & Safe Mining Operations:
The demand for secure & safe mining operations is aiding enterprises to shift toward geospatial imagery analytics solutions. Geospatial imagery analytics is helping mining enterprises in evaluating mining conditions, targeting mineral exploration, displaying geochemical & hydrological data and modelling mine construction.

The Geospatial Imagery Analytics Market Was Positively Impacted By COVID-19 In 2020 Globally.

The sustainability of the geospatial imagery analytics market is mainly driven by the widely increasing adoption of GIS services by businesses to understand customer behaviour and to upsurge their sales. Moreover, due to the pandemic situation of the COVID-19, businesses are concerned with client confidence, loyalty, optimism, and trust. Therefore, most of the ventures can go for the adoption of geospatial imagery analytics for finding ways to aid clients through this severe situation; and this will positively impact the worldwide market, after the pandemic situation.

Many ventures are expected to make use of geospatial imagery analytics technology to discover new techniques to help their clients in the chaotic situation of the COVID-19. For example, in February 2021, EOS Data Analytics, a provider of satellite imagery analytics, has stated that it is planning to introduce 7optical EOS SAT satellites into a Low Earth orbit (LEO) by 2024. By announcing its satellite imaging constellation, the company proposes to launch a full satellite data production vertical from direct imagery collection to analysis, processing, and delivery.
Geospatial Imagery Analytics Market Segment Analysis:
Agriculture Segment is expected to Account for the Largest 29% Market Share By 2029.

Based on Vertical, the agriculture segment is projected to witness the highest CAGR of 32% during 2022-2029. The major factors responsible for the growth of this segment are the growing adoption of drones and remote sensing platforms to improve farming techniques by analysing geospatial data.

The government authorities are taking novel enterprises to improve farming techniques by using remote sensing applications. Such as, Punjab state authorities started using services of the PRSC (Punjab Remote Sensing Centre) to battle against crop residue burning in March 2017.

Imagery analytics segment held the largest market share, accounting for 47.1% in 2021.

Based on Type, imagery analytics segment was valued US$ xx Bn. in 2021. This growth is attributed to increasing the adoption of drones and surveillance cameras by companies to utilize and examine video content to support their daily operations.
In 2021, UAV segment Held Largest xx% Market Share:
Based on Collection Medium, Unmanned Aerial Vehicles (UAVs) segment is expected to grow at the largest CAGR of 33% during the forecast period. This growth is attributed to the rise in the adoption of drones for surveying. Reduction in the price of hardware required to fabricate UAVs and development in sensor technologies are making Unmanned Aerial Vehicles (UAVs) more popular for the extraction of geospatial data.


Geospatial Imagery Analytics Market Regional Insights:
Geographically, APAC geospatial imagery analytics market is expected to grow at the highest CAGR of 31.9% during the forecast period. This growth is driven by larger number of internet users and growing adoption of connected devices. Rising large number of start-ups and government investments in geospatial imagery technology are also projected to drive the market of APAC geospatial imagery analytics market.

The government of China initiated its first comprehensive survey of geographical conditions in 2018. Henceforth, it is going too processed on the environmental investigation to the report on the country global situation as well as the data on the water, soil, as well as agriculture, these serves as a first-hand reference for the policymaking. The Chinese government is also spending in the developing a spaceborne airborne observation system to develop the national as well as the global ability in replying to the emergencies.

Leading market key players are working to demonstrate the opportunity to geospatial imagery analytics market.

The MMR reports cover key developments in the geospatial imagery analytics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Such as, in May 2019, the Orbital Insight has launched GO platform to empower clients in monitoring the changes happening on earth.

Trimble launched the Trimble Terra Flex field software to allow accurate and easy capturing of GIS features in Dec 2019. This will rise the reach of the Trimble GNSS (Global Navigation Satellite System) solutions by pairing it with the TruPulse laser rangefinders.

The objective of the report is to present a comprehensive analysis of the global Geospatial Imagery Analytics Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Geospatial Imagery Analytics Market dynamic, structure by analyzing the market segments and projecting the Geospatial Imagery Analytics Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Geospatial Imagery Analytics Market make the report investor’s guide.
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Geospatial Imagery Analytics Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 9.35 Bn.


Forecast Period 2022 to 2029 CAGR:
31.23%
Market Size in 2029:
US $ 82.29 Bn.


 Segments Covered:
by Type
• Imagery analytics
• Video analytics


by Vertical
• Healthcare
• Government
• Defense and Security
• Environment Monitoring
• Engineering and Construction
• Agriculture
• Energy and Utilities
• Others


by Deployment Modes
• Cloud
• On-premises


by Collection Medium
• Geographic Information System (GIS)
• Satellites
• Unmanned Aerial Vehicles (UAVs)
• Others (helicopter, aircraft, helikites, kites, balloons, and airships)



Geospatial Imagery Analytics Market, by Region
• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa
Geospatial Imagery Analytics Market Key Players
• Google
• Microsoft
• Trimble
• Maxar Technologies
• Harris Corporation
• UrtheCast
• Oracle
• Alteryx
• Esri
• RMSI
• Hexagon
• TomTom
• Orbital Insight
• Planet Labs
• GeoSpoc
• Geospin
• ZillionInfo
• Sparkgeo
• Geocento
• Mapidea
Frequently Asked Questions:
1] What segments are covered in the Geospatial Imagery Analytics Market report?
Ans. The segments covered in the Geospatial Imagery Analytics Market report are based on Type, Vertical, Deployment Modes, and Collection Medium.

2] Which region is expected to hold the highest share in the Geospatial Imagery Analytics Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Geospatial Imagery Analytics Market.

3] What is the market size of the Geospatial Imagery Analytics Market by 2029?
Ans. The market size of the Geospatial Imagery Analytics Market by 2029 is US$ 82.29 Bn.

4] What is the forecast period for the Geospatial Imagery Analytics Market?
Ans. The forecast period for the Geospatial Imagery Analytics Market is 2022-2029.

5] What was the market size of the Geospatial Imagery Analytics Market in 2021?
Ans. The market size of the Geospatial Imagery Analytics Market in 2021 was US$ 9.35 Bn.