“Commoditization of geospatial data is one of the factors driving the global geospatial imagery analytics market”
The global geospatial imagery analytics market is projected to grow from USD 2.77 billion in 2016 to USD 10.21 billion by 2021, at a CAGR of 29.8% between 2016 and 2021. The market for geospatial imagery analytics is growing across the globe due to convergence and integration of geospatial technology, increased security and safety needs, and commoditization of geospatial data. However, legal issues pertaining to restrictions in the data collection process, licensing, intellectual property rights, use of geospatial information, and storage of geospatial data, among others, are expected to restrain the market growth.
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“The video analytics segment of the market is projected to grow at the highest CAGR during the forecast period”
By type, the video segment of the global geospatial imagery analytics market is estimated to grow at the highest CAGR during the forecast period. The increasing demand for video surveillance systems for perimeter detection, pattern recognition, counting & crowd management, and incident detection, among others is expected to drive growth of the video analytics segment during the forecast period.
“The Asia-Pacific geospatial imagery analytics market is projected to grow at the highest CAGR during the forecast period”
The Asia-Pacific geospatial imagery analytics market is expected to witness exponential growth and is projected grow at the highest CAGR during the forecast period. This is due to the increasing demand for geospatial imagery analytics solutions and services in this region. In the Asia-Pacific region, geospatial technologies have been utilized for rural and agricultural development over the last decade and their adoption is expected to increase further. Geospatial analytics is expected to be adopted in surveying and mapping of plantation crops. It is also expected to play a crucial role in the agricultural sector, as it assists in increasing yield, managing resources, predicting outcomes, and improving farming practices. Advanced IT infrastructure and government initiatives are expected to drive the adoption of geospatial analytics in this region.
Breakdown of profiles of primaries is represented below:
• By Company Type: Tier 1- 30%, Tier 2 – 40%, and Tier 3 – 30%
• By Designation: C-level – 72%, Director-level – 14%, and Others – 14%
• By Region: North America – 57%, Europe – 14%, Asia-Pacific – 29%
Various key vendors profiled in the report are as follows:
- Hexagon AB (Sweden)
- DigitalGlobe, Inc. (U.S.)
- UrtheCast Corporation (Canada.)
- Trimble Inc. (U.S.)
- Harris Corporation (U.S.)
- KEYW Corporation (U.S.)
- Google Inc. (U.S.)
- EOS Data Analytics, Inc. (Ukraine)
- Geocento (U.S.)
- Satellite Imaging Corporation (U.S.)
Related Report:
Geospatial Imagery Analytics Market by Type (Imagery Analytics Video Analytics) Collection Medium (GIS Satellites UAVs) Vertical (Defense & Security Insurance Agriculture Healthcare & Life Sciences) and Region - Global Forecast to 2022
“Advancements in the field of geospatial imagery analytics resulting from the integration of artificial intelligence and Big Data are expected to drive the growth of the market”
The geospatial imagery analytics market is projected to grow from USD 3.41 billion in 2017 to USD 13.21 billion by 2022, at a CAGR of 31.1% during the forecast period. This growth can be attributed to the significant advancements in geospatial imagery analytics with the introduction of artificial intelligence and Big Data and the need for enterprises to ensure market competitiveness.
“Based on type, the imagery analytics segment is estimated to lead the geospatial imagery analytics market in 2017”
Based on type, the imagery analytics segment is estimated to lead the geospatial imagery analytics market in 2017. The growth of this segment can be attributed to the increased adoption of imagery analytics solutions across various industries for improving operational efficiency and informed decision-making.
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