“Commoditization of geospatial data is one of the factors driving the global geospatial imagery analytics market”
The global geospatial imagery analytics market is projected to grow from USD 2.77 billion in 2016 to USD 10.21 billion by 2021, at a CAGR of 29.8% between 2016 and 2021. The market for geospatial imagery analytics is growing across the globe due to convergence and integration of geospatial technology, increased security and safety needs, and commoditization of geospatial data. However, legal issues pertaining to restrictions in the data collection process, licensing, intellectual property rights, use of geospatial information, and storage of geospatial data, among others, are expected to restrain the market growth.
“The video analytics segment of the market is projected to grow at the highest CAGR during the forecast period”
By type, the video segment of the global geospatial imagery analytics market is estimated to grow at the highest CAGR during the forecast period. The increasing demand for video surveillance systems for perimeter detection, pattern recognition, counting & crowd management, and incident detection, among others is expected to drive growth of the video analytics segment during the forecast period.
“The Asia-Pacific geospatial imagery analytics market is projected to grow at the highest CAGR during the forecast period”
The Asia-Pacific geospatial imagery analytics market is expected to witness exponential growth and is projected grow at the highest CAGR during the forecast period. This is due to the increasing demand for geospatial imagery analytics solutions and services in this region. In the Asia-Pacific region, geospatial technologies have been utilized for rural and agricultural development over the last decade and their adoption is expected to increase further. Geospatial analytics is expected to be adopted in surveying and mapping of plantation crops. It is also expected to play a crucial role in the agricultural sector, as it assists in increasing yield, managing resources, predicting outcomes, and improving farming practices. Advanced IT infrastructure and government initiatives are expected to drive the adoption of geospatial analytics in this region.
Breakdown of profiles of primaries is represented below:
By Company Type: Tier 1- 30%, Tier 2 - 40%, and Tier 3 - 30%
By Designation: C-level - 72%, Director-level - 14%, and Others - 14%
By Region: North America - 57%, Europe - 14%, Asia-Pacific - 29%
Various key vendors profiled in the report are as follows:
1. Hexagon AB (Sweden)
2. DigitalGlobe, Inc. (U.S.)
3. UrtheCast Corporation (Canada.)
4. Trimble Inc. (U.S.)
5. Harris Corporation (U.S.)
6. KEYW Corporation (U.S.)
7. Google Inc. (U.S.)
8. EOS Data Analytics, Inc. (Ukraine)
9. Geocento (U.S.)
10. Satellite Imaging Corporation (U.S.)
Research Coverage: This study provides detailed segmentation of the geospatial imagery analytics market on the basis of type, collection medium, vertical, and region. By type, the market is segmented into image and video. By collection medium, the market is segmented into GIS (Geographic Information System), satellites, UAVs, and others. By vertical, the market is further segmented into defense & security; government; environmental monitoring; energy, utility & natural resources; engineering & construction; mining & manufacturing; insurance; agriculture; healthcare & life sciences; and others. The geographic analysis includes regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in the following ways:
1. This report comprehensively segments the global geospatial imagery analytics market and provides the closest approximations of the revenue numbers for the overall market and subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key drivers, restraints, challenges, and opportunities in the global geospatial imagery analytics market.
3. This report helps stakeholders to obtain better understanding of their competitors and gain more insights to enhance their position and business in the global geospatial imagery analytics market. The competitive landscape section includes new product launches, partnerships, agreements & collaborations, mergers & acquisitions, and expansions undertaken by the key players in the global geospatial imagery analytics market