Pune,India, Dec. 11, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, global Geospatial Imagery Analytics Market Size was valued at USD 11.88 billion in 2022 and is projected to grow from USD 15.62 billion in 2023 to USD 109.84 billion by 2030, exhibiting a CAGR of 32.1% during the forecast period.
Geographical data from imagery sources such as drones, satellite imagery, UAVs, Geographic Information Systems (GIS), and others can be interpreted and analyzed by using geospatial imagery analytics. The market growth can be credited to the rise in the demand for location-based insights across diverse industries. Moreover, geospatial insights are being embraced by industries as a transformative tool for enhancing operational efficiency and overall decision-making processes.
Key Industry Development-
April 2022: Orbital Insight announced a partnership with Satellogic to deploy Satellogic’s high-resolution and high-frequency satellite imagery and full-motion video collections into its platform to enhance customer access to top-quality data, boosting revisit rates, and decreasing analytics costs.
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Key Takeaways-
- Geospatial Imagery Analytics Market Size is expected to flourish & reach USD 109.84 Billion in 2030
- The market is experiencing significant growth due to the rising demand for location-based insights across diverse industries.
- While geospatial analytics offers valuable insights, acquiring and processing relevant data can be an expensive task.
- Geospatial Imagery Analytics Market Size in North America was USD 5.06 Billion 2022
Discover the Leading Players Featured in the Report-
“Hexagon AB (Sweden), Satellogic (U.S.), CAPE Analytics (U.S.), Esri (U.S.), Geoimage (Australia), Maxar Technologies (U.S.), TomTom International BV (Netherlands), RMSI (India), EOS Data Analytics, Inc. (U.S.), Planet Labs PBC. (U.S.)”
Report Scope & Segmentation-
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 32.1% |
| 2030 Value Projection | USD 109.84 Billion |
| Base Year | 2022 |
| Geospatial Imagery Analytics Market Size in 2022 | USD 11.88 Billion |
| Historical Data for | 2017 to 2021 |
| No. of Pages | 180 |
| Segments covered | Imaging Type, Collection Medium, Application, End-user, |
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Drivers and Restraints–
Integration of ML and AI with the Solution to Escalate Market Growth
One of the major factors impelling the geospatial imagery analytics market growth is the utilization of Artificial Intelligence (AI) and Machine Learning (ML) with the solution. Automation and accuracy of image interpretation can be enhanced using these technologies, which allows the identification of objects, patterns, and changes in the landscape with greater precision.
However, the price and complexity related to processing and data acquisition may impede market growth.
Leading Segments Covered in this Report-
By Imaging Type
By Collection Medium
- Geographic Information System (GIS)
- Satellite Imagery
- Others (UAV, Drones, and others)
By Application
- Weather Conditions Monitoring
- Disaster Management
- Urban Planning/Development
- Natural Resource Exploration
- Others (Sales & Marketing Optimization, and others)
By End-user
- Defense & Security
- Healthcare
- Retail & Logistics
- Government
- Banking, Financial Services & Insurance (BFSI)
- Mining/Manufacturing
- Agriculture
- Others (Transportation, Education, and others)
Regional Insights-
North America Dominates by Leveraging Advanced Tools for Strategic Decision-Making
North America’s market thrives on the rising need for location-based insights, leveraging advanced geospatial imagery analytics. With a strong technological foundation and infrastructure, particularly in the U.S. and Canada, the region leads in adopting these tools for informed decision-making and competitive advantages.
Europe is observing substantial growth owing to the utilization of geospatial imagery analytics technology in industries such as transportation, forestry, and agriculture to enhance sustainability and efficiency.
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Competitive Landscape-
Strategic Partnerships and Enhanced Offerings Propel Revenue in the Market
Market players are focusing on boosting their existing product portfolio for offering flexible geospatial imagery analytics solutions equipped with distinct features. Moreover, partnership strategies are being deployed by several market participants to enhance their position while maximizing their revenue figures.
FAQs:
How Geospatial Imagery Analytics Market?
Geospatial Imagery Analytics Market size was USD 11.88 Billion in 2022. It is expected to reach USD 109.84 Billion by 2030.
How fast is the Geospatial Imagery Analytics Market?
The Geospatial Imagery Analytics Market will exhibit a CAGR of 32.1% during the forecast period, 2023-2030
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