Geospatial Imagery Analytics Market Synopsis:
The global geospatial imagery analytics market had a market value of USD 3.22 billion in 2017 and is estimated to reach USD 11.16 billion by 2023 growing at a CAGR of 24.57% during the forecast period 2018–2023. Market Research Future (MRFR) has segmented the geospatial imagery analytics market on the basis of type, application, vertical, and region.
Geospatial technology consists of global positioning system (GPS), geographical information system (GIS), and remote sensing (RS). Along with government organizations and security firms, geospatial technologies are used by SMEs and large enterprises also to transform manually produced maps and records into their digital databases. Imagery analytics is one of the essential tools for geospatial applications. Geospatial Imagery Analytics Market are a set of solutions used to analyze and map images of geographies and locational component and support security and surveillance agencies to understand, track, and monitor any natural and unnatural potential threats or emergency situations
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Major Key Players:
- Hexagon AB
- Harris Corporation
- Environmental Systems Research Institute
- Planet Labs
- UrtheCast Corporation
- Fugro NV
- KeyW Corporation
- Satellite Imaging Corporation
The market for geospatial imagery analytics is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographic analysis of geospatial imagery analytics market has been studied for North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, Singapore, Australia, South Korea, and the rest of Asia-Pacific), and the rest of the world (including the Middle East & Africa, and South America).
Europe was leading the geospatial imagery analytics market in 2018. Europe has well-developed advanced infrastructure support for space & satellite applications. Government support for military and defense security & surveillance applications, and development of internet and communication platforms among others are some prime factors for the growth of geospatial imagery analytics market in this region. Europe is the central hub of the US and Canada for monitoring and operating satellite applications. Further, high technical and research expertise of European nations such as France and Russia in aerial, space & satellite subjects is expected to fuel the market growth in the coming years.
North America held the second largest share of the global geospatial imagery analytics market in 2018. The US dominated the market, followed by Canada. Development in AI and connected technologies developed security infrastructure of law enforcement agencies, and the defense sector are the prime factors driving the market in the region.
Asia-Pacific is projected to grow with the highest CAGR. China accounted for the highest market share of the Asia-Pacific geospatial imagery analytics market in 2018 due to its high focus on developing smart cities in the country. The increasing usage of drones and satellites for transportation and weather analytics is also one of the major driving factors fueling the market of geospatial imagery analytics in China. Whereas, India is expected to be the fastest growing market in geospatial imagery analytics in the coming years.
- By type, the geospatial imagery analytics market has been sub-segmented into imagery analytics and video-based analytics. Among these, the imagery analytics segment is leading the market due to its high adoption rate for space & satellites and drones related applications. Development in big data and artificial intelligence is further enhancing the capabilities of imagery analytics and helping analysts in real-time monitoring and quick decision making. Whereas, the video-based analytics segment is projected to witness fast growth in the coming years.
- By application, the market has been segmented into drones/UAVs, space & satellites, geographic information system (GIS), aircraft, and others. Among these, the geographic information system (GIS) segment is dominating the market as it provides in-depth information about spatial patterns and linear networks. Whereas, the drones/UAVs segment is projected to witness a high growth rate during the forecast period in the market due to increasing deployment rate of imagery analytics and video-based analytics for various drones applications.
- By vertical, the market is segmented into defense & security, environmental monitoring, mining, manufacturing, energy & utility, agriculture, healthcare & life sciences, and others. Among these, defense & security segment is leading the market, followed by environmental monitoring, mining, energy & power. Whereas, the agriculture and healthcare segment is projected to witness high growth during the forecast period.
- By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America has been further segmented into the US, Canada, and Mexico. Europe has been further segmented into Germany, the UK, France, Russia, Spain, and Italy. Asia-Pacific has been sub-segmented into China, Japan, India, Singapore, Australia, and South Korea. And, the rest of the world has been classified into the Middle East & Africa and South America.
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.3 Research objectives
2.4 Markets Structure
List of Tables
Table 1 Geospatial Imagery Analytics Market, By Region, 2018–2023
Table 2 North America: Geospatial Imagery Analytics Market, By Country, 2018–2023
Table 3 Europe: Geospatial Imagery Analytics Market, By Country, 2018–2023
List of Figures
Figure 1 The Global Geospatial Imagery Analytics Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of The Global Geospatial Imagery Analytics Market
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