Geospatial Imagery Analytics Market is estimated to be rising at a CAGR of 31.6% by 2030

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Global Geospatial Imagery Analytics market is estimated to be rising at a CAGR of 31.6% during forecast period (2021-2030). The market is expecting massive rise in the demand due to the convergence and integration with mainstream technologies, commercialization of geospatial information and need for security and safety. Moreover, governments across the globe are adopting geospatial imagery analytic solutions in defense and security. Also, there are many government and private organizations that are funding to the geospatial imagery analytics.

With the development of geographic information systems (GIS) that provided the ability to assemble a series of geospatial data fragmented into layered set of maps, complex data could be analyzed and easily communicated. Additionally, unmanned aerial vehicles (UAV) such as Global Hawk reconnaissance drone etc. and aerial remote sensing platforms have witnessed an increased non-military use such as in agriculture, healthcare, transportation etc. Further, with the introduction of big data capabilities and integration of cloud computing in geospatial technologies the global geospatial imagery analytics market is expected to grow exponentially over the forecast period.

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Global Geospatial Imagery Analytics market has been segmented on the basis of type, collection mode and verticals. The type segment is further segmented into image and video. However, image segment is the dominating segment with a revenue share of 62.98% in 2020. The convenience to take a precise, high definition 3 Dimensional and 2D images coupled with the ease of data gathering and transmission of images have rendered high adoption of Image based geospatial analytics. Further tools such as Google Earth, Microsoft Virtual Earth etc. that provide geospatial images have provided a favorable environment for the growth of image based geospatial analytics market. Moreover, video type market is anticipated to grow at a fastest CAGR of 32.1% during the forecast period. The high investment to the startups in the geospatial imagery analytics also aid the growth of Video based geospatial imagery analytics.

Geographic information system leads the collection medium segment in the global geospatial imagery analytics market by capturing largest market share of over 39% in 2020. GIS based geospatial imagery analytics market is anticipated to grow at a highest CAGR of 31.6% during the forecast period. The primary reason for the dominance of GIS system as the collection medium is the wide adoption of geographic information system in geographic mapping and analysis. GIS integrates data, hardware, software and services that are used for processing business and geographically referenced data. Applications of geographic information system consist of finding location details, natural resources, telecommunications, disaster management, and transportation. The growing urbanization coupled with rising smart city investment are sort to be the major driving force the GIS systems. An ever-growing population increases the complexity of rural and urban land management as well as community planning.

Geographically, the global Geospatial Imagery Analytics market has been segmented into North America, Europe, Asia Pacific and Rest of the World (ROW). Europe is dominating the market in global Geospatial Imagery Analytics market with a revenue share of 33.99 % in 2020. Europe geospatial imagery analytics market is primarily driven by the developed geospatial infrastructure for image collection in the Europe. Moreover, Asia Pacific is anticipated to be the fastest growing region during the forecast period with a CAGR of 50.4%. The Asia pacific Geospatial Imagery Analytics market is primarily driven by the geospatial imagery analytic startups.

Partnership and collaboration is the primary strategy adopted by the companies in the geospatial imagery analytics market. Strategic partnership allows the companies to leverage resources in order to serve the market demand. Product launch is the secondary strategy adopted by the companies in the geospatial imagery analytics market. New and advanced products help to improve company market visibility while competing effectively with the key competitors already present in the market. The top companies in this market includes, Oracle Corporation, Google, GE, ESRI, Pitney Bowes ad others.

KEY MARKET MOVEMENTS

  • Global Geospatial Imagery Analytics market is estimated to be rising at a CAGR of 31.6% during the forecast period (2021-2030).
  • Image segment is the dominating segment with a revenue share of 62.98% in 2020.
  • Video type market is anticipated to grow at the fastest CAGR of 32.1% during the forecast period.
  • Geographic information system leads the collection medium segment in the global geospatial imagery analytics market by capturing the largest market share of over 39% in 2020.
  • GIS based geospatial imagery analytics market is anticipated to grow at the highest CAGR of 31.6% during the forecast period.
  • Europe is dominating the market in global Geospatial Imagery Analytics market with a revenue share of 33.99 % in 2020.
  • Asia Pacific is anticipated to be the fastest-growing region during the forecast period with a CAGR of 50.4%.
  • Partnership and collaboration is the primary strategy adopted by the companies in the geospatial imagery analytics market.
  • The top companies in this market include Oracle Corporation, Google, GE, ESRI, Pitney Bowes ad others.
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