The evolution of integrated domain awareness solutions coupled with growing sources of satellite and drone imagery products is driving the geospatial imagery analytics market growth across sectors. While existing customers are utilizing newer geospatial capabilities for their operations, new customers are also entering this market. With the total global market landscape (as covered in this study) measuring more than 800 participants, the fragmentation of the market is growing with the entry of many startups.
Read Report Overview: Geospatial Imagery Analytics Market
The global geospatial customer base is adopting advanced street maps, satellite imagery, and route planners to gain location intelligence and identify the area of choice. Such intelligence merges the capabilities of geospatial technologies, data analytics, and artificial intelligence to visualize geographical patterns, routes, and spatial trends to plan, map, and optimize the positional dimension of geospatial data.
The global geospatial imagery analytics market is estimated to reach $32.78 billion in 2032 from $24.25 billion in 2021, at a growth rate of 2.90% during the forecast period 2022-2032. Geospatial imagery analytics companies have witnessed a significant demand for applications such as disaster management, agriculture, cartography, and natural resources survey.
Global Geospatial Imagery Analytics Market by Region
- North America - U.S., Canada
- Europe - France, Germany, Russia, U.K., and Rest-of-Europe
- Asia-Pacific - China, India, Japan, and Rest-of-Asia-Pacific
- Rest-of-the-World - the Middle East and Africa and Latin America
Europe accounted for the highest share of 29.88% in the global geospatial imagery analytics market by value in 2021, owing to a significant number of companies based in the region.
Competitive Landscape
The competitive landscape of the geospatial imagery analytics market consists of several organic and inorganic strategies followed by the key players to increase their market share. The strategies include product innovations, contracts, partnerships, acquisitions, and business expansions, among others.
Rquest A Free Sample: https://bisresearch.com/requestsample?id=1388&type=download
Some of the key players in the global geospatial imagery analytics market include Airbus, Maxar Technology, Planet Labs, ESRI, Satellogic, ICEYE, Capella Space, and GeoOptics. These companies are aiming for a wide range of partnerships, collaborations, agreements, and contracts to expand their operations and increase their market presence globally to generate revenues and attract new customers.
Recent Developments in Global Geospatial Imagery Analytics Market
- In September 2022, Satellogic signed a three-year agreement with the Government of Albania to build a dedicated constellation. The company's high-quality imagery will resolve Albania's significant issues, such as illegal construction, illegal crops, traffic management, wildlife monitoring, and border security.
- In September 2022, TomTom N.V. signed a partnership with Hyundai Motor Group (HMG) to provide its maps and real-time traffic data. HMG will use TomTom’s high-quality maps for its entire Europe vehicle lineup.
- In August 2022, Esri signed a renewed partnership with the National Technical Information Service (NTIS) of the US Department of Commerce. As per this partnership, NTIS would be able to access geospatial data in order to analyze and support government agencies in enhanced decision-making capabilities.
- In August 2022, BlackSky Technology Inc. received a contract from NASA to evaluate the quality of the company’s imaging data services for the Commercial Smallsat Data Acquisition (CSDA) Program. The company would provide its dawn-to-dusk imagery data for NASA’s Earth science mission.
____________________________________________________________________________________________________________________________________
Additionally, BIS Research also offers a dedicated and unique platform to find and access deep tech insights and updates on emerging technologies across industry verticals. Insight Monk, an AI powered deeptech search engine, is a subscription-based platform that offers a library of latest market insights and updates based on emerging tech.
Learn more about Insight Monk here: https://www.insightmonk.com/
The geospatial industry has been witnessing significant growth since the past five years and is continuing to do so due to the emergence of new technologies such as Artificial Intelligence (AI), big data, the Internet of Things (IoT), and Machine Learning (ML).
Global studies have shown that geospatial readiness plays a crucial role in the adoption of digital innovation, contributing significantly to world’s Gross Domestic Product (GDP) as well as optimizing efficiency and cost-effectiveness of the economic sectors such as infrastructure, energy, agriculture, financial services, retail and logistics, and climate and environment, among others.Geospatial analytics collects, analyzes, and displays Geographic Information System (GIS) data and imagery, including Global Positioning System (GPS) and satellite photographs.
Geospatial data analytics depend on geographic data points and specific locations such as a zip code or address of service areas.
These data are utilized for developing geographic models and data visualizations for more precise modeling and predictions of trends.
The global population is adopting and is actively using advanced street maps, satellite imagery, and route planners to gain location intelligence and identify the area of choice.
Such intelligence merges with the capabilities of geospatial technologies, data analytics, and artificial intelligence to visualize the geographical patterns, routes, and spatial trends to plan, map, and optimize the positional dimension.The geospatial imagery analytics market is anticipated to have significant growth during the forecast period 2020-2025.
