Tag Archives: Geospatial Imagery Analytics Market

Geospatial Imagery Analytics Market: Making informed business decisions by having complete insights of market

Geospatial imagery analytics is a comprehensive solution system that provides imagery, both video and image data, of the earth. The data helps companies in different sectors in taking preventive and precautionary measures. With the use of global positioning systems (GPS) and geographical information systems, geospatial imagery analytics providers collect and gather data and then provide these data to end-users. Providers of geospatial imagery analytics are investing in building their own satellites to gather the most effective earth data for end-users. The geospatial imagery analytics market is expected to expand at a CAGR of 7.0% during the forecast period of 2018-2026.

Geospatial Imagery Analytics Market Revenue, Share, Key Players, Demand and Opportunities by 2023

The global geospatial imagery analytics market is growing at a CAGR of 28.7% during 2018–2023 and will reach $14.7 billion by 2023. Technological advancements in in this field and urge among enterprises to increase competitiveness are the major factors driving the growth of the market.

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On the basis of collection medium, the geospatial imagery analytics market is categorized into geographic information systems (GIS), satellites, unmanned aerial vehicles (UAVs), and others. Of these, the fastest growth during the forecast period is expected from the UAV category. This is attributed to the increasing adoption of UAVs by government bodies to gather geospatial information.

Geospatial Imagery Analytics Market – Increasing Penetration of Geographic Information System Technology Driving the Market

The global geospatial imagery analytics market was valued at US$ 4,567.0 Mn in 2016 and is expected to expand at a CAGR of 7.0% from 2018 to 2026 to reach US$ 8,951.5 Mn by the end of the forecast period. According to the report, the global geospatial imagery analytics market will continue to be influenced by a range of macroeconomic and industry-specific factors.

The global geospatial imagery analytics market is primarily driven due to rise in adoption of geospatial information system technology. Rise in number of connected mobile devices has led to increase in penetration of consumer navigation systems. Over the last few years, GIS has observed significant growth in disaster management and related applications including climate change, carbon management, flood management, etc.