What Has Been the Growth Trajectory for the Geospatial Imagery Analytics Market in Recent Years?
The geospatial imagery analytics market has seen considerable growth due to a variety of factors.
• The market size of geospatial imagery analytics has seen substantial growth in the past few years. It anticipates expanding from a volume of $14.73 billion in 2024 to $18.49 billion in 2025, thus plotting a compound annual growth rate (CAGR) of 25.5%.
Factors that have contributed to this growth during the historic period include the rising demand for location-centric services, managing emergencies and disasters, planning and development of smart cities, monitoring and conserving the environment, and applications in defense and intelligence.
How Does the Forecast Look for the Geospatial Imagery Analytics Market?
The geospatial imagery analytics market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the geospatial imagery analytics market is anticipated to expand significantly, reaching a value of $49.61 billion in 2029 with a compound annual growth rate (CAGR) of 28.0%.
This projected growth during the forecast period is linked to key factors such as climate change observation, infrastructure expansion initiatives, the rise of space tourism and exploration, worldwide connectivity strategies, healthcare and epidemiology research, economic progress and market intelligence, and attempts to counter unlawful activities. During this forecast period, the dominating trends will be the evolution of satellite technologies, cloud-based geospatial analytic platforms, applications in precision farming, urban planning and intelligent cities, and environmental supervision and climate change studies.
What Main Forces Are Fueling Expansion In The Geospatial Imagery Analytics Market?
The geospatial imagery analytics market is projected to experience growth, propelled by the escalating demand for small satellites. Generally weighing under 100 kg and analogous in size to suitcases, these satellites serve an indispensable role in imagery analytics. They offer a cost-effective means to dissect and analyze minute bits of information worldwide and provide reliable and precise results in small operational units. As per the U.S. Government Accountability Office's report in September 2022, approximately 5,500 active satellites were in orbit as of early 2022. Projections indicate that an additional 58,000 satellites could be launched by 2030. Consequently, this surge in demand for small satellites fuels the expansion of the geospatial imagery analytics market.
What Are The Primary Segments In The Global Geospatial Imagery Analytics Market?
The geospatial imagery analytics market covered in this report is segmented –
1) By Type: Video-Based Analytics, Imagery Analytics
2) By Geospatial Technology: Global Positioning System (GPS), Geographical Information Systems (GIS), Remote Sensing (RS), Unmanned Aerial Vehicles (UAVs)
3) By Deployment Mode: Cloud, On-Premises
4) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
5) By Application: Agriculture, Mining And Manufacturing, Defense and Security, Energy, Utility, And Natural Resources, Government, Healthcare, Insurance, Other Applications
Subsegments:
1) By Video-Based Analytics: Real-time Video Processing, Object Detection And Tracking, Pattern Recognition, Event Detection
2) By Imagery Analytics: Satellite Imagery Analysis, Aerial Imagery Analysis, Drone Imagery Analysis, Multispectral And Hyperspectral Imagery Analysis
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Which Key Trends Are Driving Changes In The Geospatial Imagery Analytics Market?
The key trend becoming prominent in the geospatial imagery analytics market is the advent of technological developments. Major players in the geospatial imagery analytics sector are debuting cutting-edge technological innovations to maintain their market stance. For instance, Google LLC, a software firm based in the United States, released Geospatial Creator in May 2023. This dynamic tool is designed to empower developers and creators to efficiently construct and distribute augmented reality (AR) experiences grounded in the actual world. It incorporates ARCore and Google Maps Platform technologies, enabling users to generate immersive content within minutes, circumventing the need for extensive coding abilities. The tool incorporates high-resolution 3D tiles to give an accurate rendition of the desired area. This particular feature allows content creators to accurately project their digital content within the physical environment.
Who Are the Key Players in the Geospatial Imagery Analytics Market?
Major companies operating in the geospatial imagery analytics market include:
• Oracle Corporation
• Hexagon AB
•Environmental Systems Research Institute Inc.
•TomTom NV
• Trimble Inc.
• RMSI Private Limited
•Planet Labs PBC
•Maxar Technologies Holdings Inc.
•L3Harris Technologies Inc.
• Google LLC.
• Zillion Info Tech Solutions Private Limited
• Orbital Insight Inc.
• Mapidea Ltd.
• Satellite Imaging Corporation
• Risk Management Solutions Inc.
• Fugro NV
•onXmaps
•GeoMoby
•GeoMoby
• Pitney Bowes Inc.
• AAM Pty Ltd.
• Critigen LLC.
• MDA CORPORATION LTD.
• PrecisionHawk Inc.
•Sparkgeo Consulting Inc.
What Is The Most Dominant Region In The Geospatial Imagery Analytics Market?
North America was the largest region in the geospatial imagery analytics market in 2024. The regions covered in the geospatial imagery analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
