The Spain Geospatial Imagery Analytics Market size is estimated at USD 0.24 billion in 2024, and is expected to reach USD 0.69 billion by 2029, growing at a CAGR of 23% during the forecast period (2024-2029).
Geospatial imagery analysis refers to a broad range of activities that emphasize applying various techniques to data comprising geographical or space-related characteristics. Some of the key factors driving the growth of the geospatial imagery analytics market include the increasing technological advancements in the field of GIS technology, recent trends in integration and convergence of geospatial technologies, the advent of new business models aimed at leveraging the demand for geospatial information, and increased application of geospatial analytics in city and town planning.
The Spain Geospatial Imagery Analytics market exhibits a semi consolidated featuring several key players, including Google LLC, Microsoft Corporation, Oracle Corporation, L3 Harris Corporation, Hexagon AB, ESRI and many more. These companies are actively engaged in strategic partnerships and product development initiatives aimed at expanding their market presence.
In December 2023, Oracle Spatial Studio 23.2 is now available, including multiple user enhancements and behind-the-scenes improvements. Analysts can utilize the redlining tools to mark up maps, highlighting points of interest or marking unusual activities for further exploration. Users can use custom symbols to show their storefront locations using their logo instead of a generic icon. Developers may find the ability to embed Spatial Studio maps into external web applications interesting. The firm has added a native Web Component for embedding Spatial Studio maps into other applications.
In May 2023, CAPE unveiled its partnership with Google to further this mission and leverage structural attributes from Google’s aerial imagery and digital surface models (DSM) in its property intelligence platform and weather risk solutions. CAPE’s structural insights range from roof dimensions to wildfire and hurricane risk scores. Adding Google’s geospatial services to CAPE’s leading property intelligence platform creates a robust and powerful geospatial analytics offering explicitly built for insurance carriers. This partnership enables CAPE to provide insurance carriers with extended coverage and property information they require to mitigate risk and help prevent property damage proactively.
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