Geospatial Imagery Analytics Market

Global Geospatial Imagery Analytics Market Size (2024 to 2029)

The global geospatial imagery analytics market was worth USD 11.02 billion in 2023 and is projected to reach a valuation of USD 56.15 billion by 2029 and is predicted to register a CAGR of 31.18% during the forecast period.

Geospatial imaging analytics can be identified as tools for assisting and analyzing geospatial data received from satellite imagery, Global Positioning Systems, or mapping sources to generate helpful information for making critical business choices. The geospatial imaging analytics system is a platform built on big data analytics, which also includes predictive analytics. It assists both public and corporate sectors in making important business decisions, as well as risk assessment and catastrophe management, urban development, and climatic conditions. In comparison to 3D and 2D analysis, geospatial imaging analysis provides more specific images.

eospatial analytics adds context to traditional data by combining timing and location, allowing for a fuller picture of events. Insights that would have been lost in a vast spreadsheet are exposed in visual originals and images that are easy to recognize. Large amounts of geographic and geometric data can be processed quickly by geospatial analytics companies. As a result, users can communicate with billions of mapped locations while viewing real-time geospatial representations. In large datasets, geospatial data analytics provides an eye to distinguish exemplars like distance, closeness, contiguity, and association.

Market Trends:

For a brief period of time, the software and service industries are also estimated to slow down. However, in the latter half of the year, usage of collaborative applications, location-based applications, security solutions, big data, and AI is predicted to grow. Despite the pandemic's impact on the geospatial imaging analytics industry, businesses continued to use geospatial imagery analytics solutions and hardware for facility management, virus tracking, people tracking and direction, and intelligent quarantining. Governments and commercial enterprises across sectors are implementing geospatial imaging analytics solutions to keep citizens indoors and follow them, resulting in market growth throughout the forecast period.

Global Geospatial Imagery Analytics Market Drivers:

The global geospatial imagery analytics market is mostly driven by rising disposable incomes and advances in analytics technology. Another critical element driving market expansion is the growing demand for geospatial imaging analytics for national security and safety. The need for geospatial data in the mining, manufacturing, engineering, and construction sectors is likely to enhance the expansion of the Geospatial Imagery Analytics Market worldwide. Moreover, technological advancements in this area have improved the popularity of geospatial technologies such as remote sensing (R.S.), a global positioning system (GPS), and geographical information systems (GIS), among others, resulting in market growth.

Global Geospatial Imagery Analytics Market Restraints:

Geographical variances in data gathering techniques, location privacy, intellectual property rights, data licensing, and geospatial data storage limit the use of geospatial imaging analytics systems. Such legal issues must be considered by geospatial technology suppliers to ensure significant public and private geospatial initiatives. Furthermore, the market's growth is likely to be hampered by tight government laws surrounding geospatial data and data integration with business solutions during the research period.

REPORT COVERAGE:

This research report on the global geospatial imagery analytics market has been segmented and sub-segmented based on the technology, imaging type, vertical, and region.

Global Geospatial Imagery Analytics Market - By Technology:

• Geographical Information Systems (GIS)

• Remote Sensing

• Global Positioning Systems (GPS)

Due to the increased use of GIS in remote sensing, the GIS collection segment accounts for the most significant part of the geospatial imagery analytics market and is expected to grow at the fastest rate over the projected period. It can also be used to search for geographic patterns in data and depict them on a map to assess future risks and contingency plans.

Global Geospatial Imagery Analytics Market - By Imaging Type:

• Image

• Video

The majority of the geospatial imagery analytics market is dominated by image-based analytics. During the projected period, however, video-based analytics is expected to grow at the fastest rate. Businesses' rising deployment of drones and surveillance cameras to review and use video content to assist their everyday operations is one factor contributing to the segment's growth.

Global Geospatial Imagery Analytics Market - By Vertical:

• Healthcare

• Defense 

• Government

• Security

• Environment Monitoring

• Engineering and Construction

• Agriculture

• Energy and Utilities

• Others

For the forecast period, the agriculture segment is expected to have the most significant CAGR. The increasing deployment of drones and remote sensing platforms to improve farming operations by analyzing geospatial data is one aspect that can contribute to the segment's rise. This technology also assists the agriculture business in ensuring the safety of crops and the efficient use of natural resources.

Global Geospatial Imagery Analytics Market – By Region:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

Because of improvements in the use of the Internet of Things (IoT), Machine Learning (ML), big data, and Artificial Intelligence (AI) and its integration with geospatial technologies for better communication, North America is expected to hold the most significant market size over the projection period.

Due to the increase in the number of startups and government support in geospatial technology in this region, Asia-Pacific will have the most significant CAGR for this time.

During the forecast period, the European geospatial Imagery Analytics Market is expected to increase at a rate of 29.0% CAGR during the forecast period. The German market dominated the European geospatial Imagery Analytics Market by Country in 2021, and it is expected to continue the same trend through 2027; the U.K. market is likely to develop at a CAGR of 27.9%. In addition, the France market is expected to grow at a rate of 29.9% during the next five years.

During the projected period, the geospatial analytics market in the Middle East and Africa is expected to increase at a CAGR of 16.84 percent. The geospatial analytics market in the Middle East and Africa is rapidly expanding. The market in the region is majorly fuelled by increasing infrastructure development and Saudi Arabia's central government initiatives. Saudi Arabia is likewise concentrating on the advancement and implementation of geospatial imaging.

Key Players:

• Satellite Imaging Corporation

• Fugro N.V.

• Environmental Systems Research Institute

• Harris Corporation

• Hexagon AB

• KeyW Corporation

• DigitalGlobe

• UrtheCast Corporation

• Trimble