Dublin, Nov. 04, 2022 (GLOBE NEWSWIRE) -- The "Geospatial Imagery Analytics Market - A Global and Regional Analysis: Focus on Application, Solution, and Country - Analysis and Forecast 2022-2032" report has been added to ResearchAndMarkets.com's offering.
The global geospatial imagery analytics market is estimated to reach $32.78 billion in 2032 from $24.25 billion in 2021, at a growth rate of 2.90% during the forecast period 2022-2032. Geospatial imagery analytics companies have witnessed a significant demand for applications such as disaster management, agriculture, cartography, and natural resources survey.
Market Lifecycle Stage
Geospatial data analytics has a long history since it started in the 1960s and was first used by Canada to use geographic information systems (GIS) to create a map-based inventory of natural resources. The first automated process of collecting geospatial data was developed by collaborating with IBM programmers for Canadian territory.
Today, the geospatial analytics market has changed significantly, and geospatial analytics has diverse applications. It is used for data collection, understanding the relationship between multiple data sources to analyze the trend, and accurate predictions. Geospatial analytics has spread over various applications such as weather monitoring, surveillance, urban planning, and disaster management. Geospatial imagery analytics have depended more on imagery from multiple sources, such as satellites, aerial vehicles, and aircraft.
Furthermore, the rise in the deployment of small satellites for Earth observation in low Earth orbit (LEO) has generated demand in the geospatial analytics market. The small satellites have made the imagery data more accessible and cost-effective. So, the users are dealing with a large influx of data, raising the demand for geospatial analytics. For instance, in January 2022, Planet Labs PBC, an Earth-imaging company, launched 44 SuperDove satellites onboard Space X's Falcon 9 rocket.
Impact
- The increase in adoption of artificial intelligence (AI) and machine learning (ML) for geospatial data analytics platforms has placed a high demand for the geospatial imagery market during the forecast period.
- Furthermore, rising in small-satellite deployment provides high-resolution, low-cost, and quick imagery delivery.
Market Segmentation
Segmentation 1: by Application
- Aviation
- Maritime
- Agriculture and Forestry
- Sustainability and Natural Resource Monitoring
- Oil and Gas
- Energy
- Logistics/Shipping
- Defense
- Civil Government
- Construction and Infrastructure Development
- Healthcare
- Surveying/Cartography
- Disaster Management
- Business Intelligence
- Finance and Insurance
- Mining
Segmentation 2: by Solution
- Data Acquisition
- Data Processing
- Analytics
- Integrated Delivery Platform
Segmentation 3: by Region
- North America - U.S., Canada
- Europe - France, Germany, Russia, U.K., and Rest-of-Europe
- Asia-Pacific - China, India, Japan, and Rest-of-Asia-Pacific
- Rest-of-the-World - the Middle East and Africa and Latin America
Demand - Drivers and Limitations
Following are the drivers for the global geospatial imagery analytics market:
- Increasing Need for Data-Driven Decision Making
- Increasing Threat Perception Related to Natural Disasters (Impact of Climate Change)
Following are the challenges for the global geospatial imagery analytics market:
- Presence of Legacy Systems Delaying Integration with Next-Gen Solutions
- Lack of Mutual Sharing of Data Across Regional Stakeholders
Following are the opportunities for the global geospatial imagery analytics market:
- Cheaper Geospatial Solutions for Small and Medium Enterprises
- Agriculture Sector Tackling Climate Change
- Increasing Role of Geospatial Data in Disaster Management
Key Market Players
- BlackSky Technology Inc.
- Capella Space
- Descartes Labs, Inc. (Antarctica Capital, LLC)
- EagleView Technologies, Inc.
- Esri
- GHGSat Inc.
- KSAT
- L3Harris Technologies, Inc.
- Maxar Technologies Inc.
- MDA Ltd.
- Planet Labs PBC
- Satellogic
- Spire Global, Inc.
- TomTom N.V.
- VETRO, Inc.
Key Topics Covered:
1 Markets
2 Application
3 Product
4 Region
5 Competitive Benchmarking and Company Profiles
6 Growth Opportunities and Recommendations
7 Research Methodology
Companies Mentioned
- BlackSky Technology Inc.
- Capella Space
- Descartes Labs, Inc. (Antarctica Capital, LLC)
- EagleView Technologies, Inc.
- Esri
- GHGSat Inc.
- KSAT
- L3Harris Technologies, Inc.
- Maxar Technologies Inc.
- MDA Ltd.
- Planet Labs PBC
- Satellogic
- Spire Global, Inc.
- TomTom N.V.
- VETRO, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/o4j2ju
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