Dublin, March 10, 2022 (GLOBE NEWSWIRE) -- The "Geospatial Imagery Analytics Market by Type (Imagery Analytics and Video Analytics), Collection Medium (Satellites, UAVs, and GIS), Application, Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The geospatial imagery analytics market is projected to grow from USD 9.1 billion in 2021 to USD 37.5 billion by 2026, at a CAGR of 32.8% during the forecast period.
The key factors driving the growth of this market include the rise of geospatial imagery analytics technologies and the increasing competition.
The spread of COVID-19 has been disrupting the world, businesses, and economies and has impacted the way of living of the masses and approaches adopted by enterprises for their business management. The COVID-19 pandemic has impacted all the elements of the technology sector.
The hardware business is predicted to have the most impact in the IT industry. Due to the slowdown of the hardware supply and the reduced manufacturing capacity, the IT infrastructure growth has slowed down. The software and service businesses are also expected to slow down for a short span of time. However, the adoption of collaborative applications, location-based applications, security solutions, big data, and AI is set to witness an increase in the remaining part of the year.
The pandemic has affected the geospatial imagery analytics market, but companies are still leveraging geospatial imagery analytics solutions and hardware for facility management, virus tracking, people tracking and management, and smart quarantining. Governments, as well as private companies across verticals, are adopting geospatial imagery analytics solutions to keep citizens indoors as well as track them.
Cloud segment to account for higher CAGR during the forecast period
The Geospatial imagery analytics market is bifurcated on the basis of cloud and on-premises. The market size of the cloud deployment mode is estimated to be larger and projected to have a higher CAGR during the forecast period.
The cloud-based deployment helps businesses more efficiently process and report data findings, enhance collaboration, and enable decision-makers to get faster access to business intelligence leading to its higher adoption in the Geospatial imagery analytics market.
Large Enterprises segment to hold a larger market share during the forecast period
The Large Enterprises segment is a faster-growing segment in the Geospatial imagery analytics market during the forecast period as cloud-based solutions and services help them improve business performance and enhance productivity.
The adoption of Geospatial imagery analytics solution and services among large enterprises is high due to the ever-increasing adoption of the cloud, and the trend is expected to continue during the forecast period.
Among regions, North America to hold largest market share during the forecast period
North America is expected to dominate the market due to early technology adoption and the presence of a large number of solution providers.
The growing technology investments and improving penetration of the retail and manufacturing vertical are expected to drive the market growth of APAC during the forecast period. China, Japan, and India have displayed ample growth opportunities in the Geospatial imagery analytics market.
Competitive Landscape
Major vendors offering geospatial imagery analytics solutions and services across the globe are
- Microsoft
- Oracle
- L3Harris Corporation
- Hexagon AB
- ESRI
- TomTom
- Trimble
- Alteryx
- RMSI
- Maxar Technologies
- Ola
- Planet Labs
- Orbital Insight
- UrtheCast
- Geocento
- Sparkgeo
- Mapidea
- ZillionInfo
- Geospin
- OneView
- Boston Geospatial
- SafeGraph
- Hydrosat
- GeoVerra
- Slingshot Aerospace
Premium Insights
- Increasing Adoption of Geospatial Technologies to Boost Market Growth
- Defense and Security Segment to Hold Largest Market Size During Forecast Period
- North America to Hold the Largest Market Share in 2021
- Disaster Management and Defense and Security to Hold Largest Market Shares in 2021
Market Dynamics
Drivers
- Rise of Geospatial Imagery Analytics Technologies
- Competitive Advantage
Restraints
- Lack of Expertise
- Regulations and Legal Issues
Opportunities
- Overcoming the Lacunae of Conventional Data Collecting and Tracking Methods
- Increasing Implementation of 5G Networks
Challenges
- Integration of Geospatial Imagery Analytics Data with Enterprise Solutions
- Reluctance to Adopt Advanced Analytics Technologies
- Geospatial Imagery Analytics Market: COVID-19 Impact
- Geospatial Imagery Analytics: Evolution
Case Study Analysis
- Defence and Security:Case Study - Geocento's Ship Detection and Monitoring the Seven Seas
- Healthcare and Life Sciences:Case Study - Carto Analyzes England's Response to COVID-19 By Using Data and Maps
- Insurance:Case Study - Esri Empowers Insurance Industry in India
- Energy, Utilities, and Natural Resources:Case Study - Geospoc Detects Solar Panel Anomaly
- Engineering and Construction:Case Study - Geospin's Analysis for Charging Infrastructure
- Government:Case Study - L3Harris Helped an Australian City Council for Tree Inventory for Leveraging Deep Learning
- Environmental Monitoring:Case Study - Hexagon Monitors the Forest Cover Changes in Madhya Pradesh, India
- Mining and Manufacturing:Case Study - Photosat Monitors the Oil Sands Mines of Alberta, Canada
- Agriculture:Case Study - Geospoc Monitors Crop Health, Growth, and Yield
Supply/Value Chain Analysis
Pricing Model Analysis
Porter's Five Forces Analysis
Technology Analysis
- Artificial Intelligence and Geospatial Imagery Analytics
- Machine Learning and Geospatial Imagery Analytics
- Internet of Things and Geospatial Imagery Analytics
- Cloud Computing and Geospatial Imagery Analytics
- Blockchain and Geospatial Imagery Analytics
Regulatory Implications
- Sarbanes-Oxley Act of 2002
- California Consumer Privacy Act
- Personal Data Protection Act
- Open Geospatial Consortium
- World Wide Web Consortium
For more information about this report visit https://www.researchandmarkets.com/r/gkkznu
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