Updated News:Geospatial Imagery Analytics Market — Global Industry Analysis and Forecast 2020 to 2027
Global Geospatial Imagery Analytics Market: Key Highlights
- The Global Geospatial Imagery Analytics Market is estimated to reach USD 35451.41 Million by 2027 at a CAGR of 32.3% during the review period
- The Geospatial Imagery Analytics Market is majorly segments into type, deployment mode, technology, application and vertical
- On the basis of component, the market is bifurcated video analytics and imagery analytics. The imagery analytics is expected to hold the high growth rate in the projected period, with the rising technological growth in the satellite technology. It is helps to enabled satellites to capture high-resolution images
- On the basis of region, the market is segmented into Americas, Europe, Asia-Pacific, and Middle East & Africa
- America accounted for the major market share with the high available remote sensing satellites, as well as the communication network infrastructure. Also, the region houses several key vendors, which includes Google, Orbital Insight, Esri, Planet Labs, Trimble, and Maxar Technologies
- Top players that account for the major share include Google, Hexagon AB, L3Harris Technologies, Inc., Maxar Technologies, Microsoft, Oracle, RMSI, TomTom NV, Trimble Inc., UrtheCast and among others
Global Geospatial Imagery Analytics Market: Key Market Dynamics
- There has been rising demand for location-based services is play a significant role for the geospatial imagery analytics market. The growing demand for location-based analytics services by their businesses to enhance the overall efficiency as well as for decision making
- The growing usage of artificial intelligence and big data is also lead to enhance the demand of the geospatial imagery analytics market growth
- Further, the emergence of cloud-based geospatial imagery analytics e a significant opportunities for the market
- However, stringent government policies regarding geospatial data are hindering the growth of the market.
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Global Geospatial Imagery Analytics Market: Regional Overview
- America region is further divided in to North America and Latin America. Globally, Americas accounted for the major market share.
- Americas accounted for the major market share with the high available remote sensing satellites, as well as the communication network infrastructure. Also, the region houses several key vendors, which includes Google, Orbital Insight, Esri, Planet Labs, Trimble, and Maxar Technologies.
- On December 2017, the federal government of Canada has invested more than USD 50 million as a part of its commitment to the International Space Station (ISS) to pave the way for the development of new technologies in space robotics.
- Asia-Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea.
- Asia-Pacific is projected grow at the fastest growth rate, with growing number of startups as well as the rising investments by the government.
- On 2018, the Chinese government initiated its first comprehensive survey of geographical conditions. Hence, it is going to processed on the geographic investigation to the report on the country overall situation as well as the data on the soil, water as well as agriculture, these serves as a firsthand reference for the policymaking.
- Furthermore, as per the Morgan Stanley, it is projected that 35% of every mile traveled in India will be covered by shared miles.
- The Chinese government is also investing in the developing a spaceborne airborne observation system to enhance the national as well as the global ability in responding to the emergencies.
Global Geospatial Imagery Analytics Market: Key Players
Some of the key players operating in the market include Google, Hexagon AB, L3Harris Technologies, Inc., Maxar Technologies, Microsoft, Oracle, RMSI, TomTom NV, Trimble Inc., UrtheCast and among others.
Global Geospatial Imagery Analytics Market: Key Developments
- On March 2020, the Hexagon has launched the Luciad 2020 for the purpose of deliver faster as well as the more powerful 3D visualization and analysis capabilities and extend the portfolio with LuciadCPillar to incorporate advanced geospatial visualization and analysis into their applications.
- On May 2019, the Orbital Insight has launched GO platform to empower customers in monitoring the changes happening on earth.
- On December 2019, the Trimble launched the Trimble TerraFlex field software to enable easy as well as the accurate capturing of GIS features.
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