Geospatial Imagery Analytics Market Forecasts to 2030 – Global Analysis By Type (Imagery Analytics, Video Analytics and Other Types), Collection Medium (Geographic Information System (GIS), Satellite Imagery, UAV, Drones and Other Collection Mediums), Dep

Geospatial Imagery Analytics Market Forecasts to 2030 – Global Analysis By Type (Imagery Analytics, Video Analytics and Other Types), Collection Medium (Geographic Information System (GIS), Satellite Imagery, UAV, Drones and Other Collection Mediums), Deployment Mode (Cloud, On-premises and Other Deployment Modes), Organization Size, Application, End User and by Geography

According to Stratistics MRC, the Global Geospatial Imagery Analytics Market is accounted for $15.46 billion in 2023 and is expected to reach $97.51 billion by 2030 growing at a CAGR of 30.1% during the forecast period. The field of study and technology known as geospatial imagery analytics focuses on the analysis of satellite or aerial imagery to extract useful data about the surface of the Earth. Geospatial imagery analytics makes it possible to identify, classify, and interpret a variety of features, including vegetation, land cover, urban development, and natural disasters. It does this by utilizing sophisticated algorithms and artificial intelligence. Moreover, numerous applications, such as national security, agriculture, urban planning, disaster response, and environmental monitoring, depend heavily on this technology.

According to the Consumer Technology Association, spending on smart cities was US$ 34.85 billion last year and is predicted to reach US$ 54.35 billion by 2026.

Market Dynamics:

Driver:

Growing requirement for services based on location

The need for geospatial imagery analytics is fueled by the growth of location-based services (LBS) in sectors like logistics, retail, and healthcare. Companies use location data to improve operational efficiency, customize customer experiences, and optimize supply chains. Additionally, the integration of geospatial analytics into various sectors is facilitated by the provision of essential spatial context required for efficient decision-making in the creation and provision of location-based services.

Restraint:

High setup costs

Implementing geospatial imagery analytics solutions comes with significant upfront costs that include hiring staff and purchasing cutting-edge technology. It may be difficult for organizations to allocate funds for qualified experts who can handle and analyze geospatial data. Furthermore, possible ways to reduce these upfront setup costs include the creation of cost-effective technologies, cooperative partnerships, and creative finance models.

Opportunity:

Rapid development in 5g technology

Opportunities for improved data connectivity and quicker communication arise with the widespread adoption of 5G technology. Applications in autonomous vehicles, augmented reality (AR), and other time-sensitive fields are made easier by the ability to process and analyze geospatial data in real-time. Moreover, with 5G networks high bandwidth and low latency, geospatial imagery analytics can provide more dynamic and responsive solutions.

Threat:

Accuracy and quality of data

Sustaining the dependability of geographic analytics necessitates continuous endeavors to tackle issues pertaining to data precision and quality. Accuracy can be reduced by making investments in cutting-edge data validation methods, frequent updates to satellite imagery, and the inclusion of ground truth data. Furthermore, maintaining the integrity of geospatial insights requires ongoing monitoring procedures and collaborations with data providers.

Covid-19 Impact:

The geospatial imagery analytics market experienced a notable impact from the COVID-19 pandemic, presenting both opportunities and challenges. Although supply chain disruptions and project delays initially presented challenges, growing awareness of the crucial role that geospatial analytics plays in pandemic response spurred demand. The rise in applications for remote monitoring, crisis management, and healthcare highlights the significance of technology in tackling global issues. Moreover, the market is positioned for steady growth as economies rebound and resilience gains traction propelled by a greater awareness of the critical role that geospatial imagery analytics plays in manoeuvring through complex and dynamic situations.

The Disaster Management segment is expected to be the largest during the forecast period

In the market for geospatial imagery analytics, the disaster management segment has the largest market share. The capability of geospatial imagery analytics to promptly and precisely evaluate and address natural disasters, such as hurricanes, floods, wildfires, and earthquakes, has made it an essential tool for disaster management organizations around the world. Additionally, effective disaster response plans can be planned and carried out with the help of geospatial analytics, which offers real-time situational awareness, predictive modeling, and post-event analysis. By assisting with damage assessment, evacuation planning, and resource allocation, technology eventually increases community resilience and lessens the effects of disasters.

The Environmental Monitoring segment is expected to have the highest CAGR during the forecast period

The environmental monitoring segment is projected to have the highest CAGR. Organizations and governments around the world are depending more and more on geospatial imagery analytics to track and evaluate changes in ecosystems, climate patterns, and natural resources as environmental concerns grow. Applications like monitoring deforestation, analyzing the quality of the air and water, and conserving biodiversity are covered in this section. Furthermore, proactive environmental management and sustainability goal compliance are made possible by the precise and real-time data insights made possible by the integration of cutting-edge satellite technology and analytics tools.

Region with largest share:

North America commands the largest share in the market. Its sophisticated infrastructure, widespread use of geospatial technologies in a wide range of industries, and a strong network of important industry participants are all considered contributing factors to the region's dominance. Using geospatial imagery analytics for applications ranging from urban planning, environmental monitoring, and healthcare to defense and security, the United States in particular has been at the forefront of this field. Additionally, contributing to North America's dominance in the global market are the existence of top providers of geospatial analytics, R&D projects, and government spending on cutting-edge satellite technologies.

Region with highest CAGR:

The region with the highest CAGR in the market is Asia-Pacific. The region has significant growth potential due to its rapid economic development, growing population, and increasing adoption of advanced technologies. The need for geospatial imagery analytics is being driven by government investments in infrastructure development, smart city initiatives, and disaster management in nations like China, India, and Japan. Moreover, the growing emphasis on environmental sustainability and the development of sectors like mining, healthcare, and agriculture encourage the use of geospatial analytics.

Key players in the market

Some of the key players in Geospatial Imagery Analytics market include L3Harris Corporation, Maxar Technologies, Microsoft, Alteryx, Hexagon AB, Google, Citrix Systems Inc., Hydrosat, Boston Geospatial, Ola, TomTom International BV, Planet Labs PBC, Harris Corporation, Oracle Corporation, Toshiba Corporation, Sparkgeo, UrtheCast Corporation and Satellite Imaging Corporation.

Key Developments:

In November 2023, L3Harris Technologies announced the signing of a definitive agreement under which an affiliate of TJC L.P. will acquire L3Harris’ Commercial Aviation Solutions business for $800 million. The acquisition includes a $700 million cash purchase price and $100 million earnout based on the achievement of certain 2023 and 2024 financial performance targets, which together represent an approximate 15x LTM 9/30 EBITDA purchase multiple.

In September 2023, Google and El Salvador have announced a $500 million strategic partnership to modernize the country’s government. Although details of the agreement are scarce, it will include digital government, digitizing processes such as electronic invoices and incorporating Google Cloud AI into education and healthcare. “El Salvador is moving forward. We believe technology and foreign investment are key for development. We are quickly becoming a hub for innovation.
In February 2023, The National Geospatial-Intelligence Agency awarded Maxar Technologies a five-year contract to provide commercial satellite imagery to U.S. allies. The contract is worth as much as $192 million, the Westminster, Colorado-based company said in a Feb. 8 statement. It includes high-resolution electro-optical imagery as well as synthetic aperture radar products, which uses radar to see through clouds and in dark conditions and detect things like material properties, precise movement and elevation.

Types Covered:
• Imagery Analytics
• Video Analytics
• Other TypesCollection Mediums Covered:
• Geographic Information System (GIS)
• Satellite Imagery
• UAV
• Drones
• Other Collection Mediums
Deployment Modes Covered:
• Cloud
• On-premises
• Other Deployment Modes
Organization Sizes Covered:
• Large Enterprises
• Small and Medium-Sized Enterprises (SMEs)Applications Covered:
• Weather Conditions Monitoring
• Disaster Management
• Urban Planning/Development
• Natural Resource Exploration
• Sales & Marketing Optimization
• Other Applications
End Users Covered:
• Insurance
• Defense and Security
• Government
• Environmental Monitoring
• Energy, Utility, and Natural Resources
• Engineering and Construction
• Mining and Manufacturing
• Agriculture
• Healthcare and Life Sciences
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
JapanChinaIndiaAustralia
New Zealand
South Korea
Rest of Asia Pacific• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances