Tag Archives: Geospatial Imagery Analytics Market

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.