According to the latest report published by Variant Market Research,the global Geospatial Imagery Analytics Marketsize is projected to reach $31.3 billion by 2025. In this report, geospatial imagery analytics market forecast says that the global market is growing at a CAGR of 31.9% from 2017 to 2025. By geography, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period. Geospatial analytics support to operate, integrate, display, collect as well as inspect geospatial data which is gathered from satellite imagery, GPS, mapping, geotagging, as well as many other causes to make important data that are significant for taking most important business/organization decisions.
"Geospatial Imagery AnalyticsMarket (By Imaging Type: Video and Image; By Technology: Remote Sensing (RS), Geographical Information Systems (GIS), Global Positioning Systems (GPS) and Other Technologies; By Analysis: Network Analysis, Surface Analysis, Geo Visualization, and Other Analysis; By Industry Vertical: Environmental Monitoring, Defense & Security, Energy, Utility, Natural Resources, Insurance, Engineering & Construction, Agriculture, Healthcare & Life Sciences, Government, Mining & Manufacturing and Other Industry Verticals; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025"
Noteworthy developments in geospatial imagery analytics with the start of artificial intelligence & big datadrives the global geospatial imagery analyticsmarket
The global geospatial imagery analytics market trend includes critical need of enterprises to assure their market competitiveness, noteworthy developments in geospatial imagery analytics with the start of artificial intelligence & big data and cumulative awareness amongst industries regarding these advantages of geospatial imagery analytics. Though, strict implementation of several government regulations might act as a roadblock for the global geospatial imagery analytics market growth. Moreover, high usage of location-based services is likely to offer worthwhile opportunities for the market in the coming years.
Imaging type, technology, analysis, industry vertical, and geography are the classification of the global geospatial imagery analytics market. The Imaging type segment is categorized into video and image. Remote sensing (RS), geographical information systems (GIS), global positioning systems (GPS) and other technologies are the segregation of technology segment. Analysis segment is sub-segmented into network analysis, surface analysis, geo visualization, and other analysis. On the basis of industry vertical, the segmentation includes environmental monitoring, defense & security, energy, utility, natural resources, insurance, engineering & construction, agriculture, healthcare & life sciences, government, mining & manufacturing and other industry verticals.
By geography, global geospatial imagery analytics market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further split in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, Italy, France, and Rest of Europe. Asia-Pacific is segmented into China, India, South Korea, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Video, by imaging type projected to witness high growthover the forecast period
On the basis of imaging type, video segment is expected to grow at a high CAGR over the forecast period.The growing demand for satellites & drone video surveillance in many industries is driving the growth of the video segment of the global market.
By industry vertical, the healthcare & life sciences segment is anticipated to gain the fastest CAGR over the forecast period
Healthcare & life sciences, by industry vertical is predicted to achieve the fastest CAGR during the forecast period. Growing usage of geospatial imagery analytics solutions in value-based healthcare services as well as population health management are likely to fuel the growth of the healthcare & life sciences segment of the global geospatial imagery analytics market over the forecast period.
Asia-Pacific is expected to be the fastest growing market during the forecast period
Asia-Pacific is likely to attain the fastest CAGR throughout the forecast period, driven by factor such as growing usage of geospatial imagery analytics in agriculture, insurance, and engineering & construction industry verticals in the Asia Pacific region.
Key players are offering innovative products and services to increase their geospatial imagery analytics market share. Main players competing in the market include, Satellite Imaging Corporation, Trimble Inc., Planet Labs Inc., UrtheCast, Fugro, KeyW Corporation, Harris Corporation, Environmental Systems Research Institute, Inc., Google LLC, and DigitalGlobe, among others.