Geospatial Imagery Analytics Market
Growth Factors of Geospatial Imagery Analytics Market
The geospatial imagery analytics market size was valued at USD 11.88 billion in 2022, and the market is now projected to grow from USD 15.62 billion in 2023 to USD 109.84 billion by 2030, exhibiting a CAGR of 32.1% during the forecast period of 2023-2030.
The COVID-19 pandemic has contributed to the geospatial imagery analytics market growth by highlighting its relevance to virus spread monitoring and assessment of containment policies. Companies more often applied satellite imagery and aerial data for tracking, risk assessment, infrastructural design and potential resource searching. Examining the speed at which the paradigm shifted the crisis exposed the flexibility of remote sensing technologies which remain valuable after the pandemic in numerous sectors and governments.
A rise in the need for location intelligence insights means increased demand across industries for geospatial imagery analytics market share. Remote sensing imagery processing is gradually finding its way into organisations to support processes, manage resources and facilitate decisions. Some fields that have adopted it include precision farming, town planning, supply chain and relief operations. GEO information is becoming an important instrument for operational change and competitive advantage.
Moreover, the use of AI and ML in analysing geospatial imagery is enhancing market growth by centralizing automation and accuracy in image analysis. AI tools improve crop surveillance, infrastructural construction, and disaster response applications. These simplify geospatial analytics by automating high-level object detection or land classification processes. With increased geospatial data, AI and ML continue to change decision-making in various industries, thus driving the market.
Comprehensive Analysis of Geospatial Imagery Analytics Market
The geospatial imagery analytics market and information & communication technology industry are rising exponentially due to their market segmentation. This market expansion effectively provides detailed regional assessments considering the dominant supply and demand forces that impact the information & communication technology industry. These segmentations are methodically segregated by imaging types, by collection mediums, by applications and by end-user. The imaging type includes, Video and Image. The collection medium includes, Geographic Information System (GIS), Satellite Imagery and Others. The application includes, Weather Conditions Monitoring, Disaster Management, Urban Planning/Development, Natural Resource Exploration and Others. The end-user includes, Defense & Security, Healthcare, Retail & Logistics, Government, Banking, Financial Services & Insurance (BFSI), Mining/ Manufacturing, Agriculture and Others.
North America is a dynamic market mainly influenced by the continuously enhancing demand for location intelligence solutions across industries. The U.S. and Canada lead in adopting geospatial imagery analytics for better decision-making and competitive advantage. The region's strong infrastructure supports geospatial data collection and analysis. Key players continue to enhance their offerings to meet growing business and government needs, fueling market growth.
The top players in the market play a crucial role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players include, Hexagon AB (Sweden), Satellogic (U.S.), CAPE Analytics (U.S.), Esri (U.S.), Geoimage (Australia), Maxar Technologies (U.S.), TomTom International BV (Netherlands), RMSI (India), EOS Data Analytics, Inc. (U.S.) and Planet Labs PBC (U.S.). These market players provide a level-playing competitive landscape.
In August 2023, onX, the digital navigation company, partnered with Planet Labs PBC to roll out the ‘Recent Imagery’ product. The feature allows users of the onX Hunt, onX Offroad, and onX Backcountry apps to enjoy a better experience as new satellite maps are refreshed every two weeks. Due to the feature’s ability to deliver new information frequently, those who spend time outdoors can make less risky and more informed decisions.
Segmentation Table
Global Geospatial Imagery Analytics Market Scope
Study Period 2017-2030
Base Year 2022
Forecast Period 2023-2030
Growth Rate CAGR of 32.1% from 2023 to 2030
Historical Period 2017-2021
Unit Value (USD Billion)
Segmentation By Imaging Type, Collection Medium, Application, End-user and Region
By Imaging Type Video
Image
By Collection Medium Geographic Information System (GIS)
Satellite Imagery
Others (UAV, Drones, and others)
By Application Weather Conditions Monitoring
Disaster Management
Urban Planning/Development
Natural Resource Exploration
Others (Sales & Marketing Optimization, and others)
By End-user Defense & Security
Healthcare
Retail & Logistics
Government
Banking, Financial Services & Insurance (BFSI)
Mining/Manufacturing
Agriculture
Others (Transportation, Education, and others)
By Region North America (By Imaging Type, Collection Medium, Application, End-user, and Country)
- U.S. (Application)
- Canada (Application)
- Mexico (Application)
South America (By Imaging Type, Collection Medium, Application, End-user, and Country)
- Brazil (Application)
- Argentina (Application)
- Rest of South America
Europe (By Imaging Type, Collection Medium, Application, End-user, and Country)
- U.K. (Application)
- Germany (Application)
- France (Application)
- Italy (Application)
- Spain (Application)
- Russia (Application)
- Benelux (Application)
- Nordics (Application)
- Rest of Europe
Middle East & Africa (By Imaging Type, Collection Medium, Application, End-user, and Country)
- Turkey (Application)
- Israel (Application)
- GCC (Application)
- North Africa (Application)
- South Africa (Application)
- Rest of the Middle East & Africa
Asia Pacific (By Imaging Type, Collection Medium, Application, End-user, and Country)
- China (Application)
- Japan (Application)
- India (Application)
- South Korea (Application)
- ASEAN (Application)
- Oceania (Application)
- Rest of Asia Pacific
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