New York, USA, Sept. 14, 2022 (GLOBE NEWSWIRE) -- A latest report on the global geospatial imagery analytics market published by Research Dive sheds light on the impact of the COVID-19 pandemic on the current and future scope of the market. This report is a useful study material for stakeholders, investors, market participants, and new entrants in the search for comprehensive insights on the impact of the COVID-19 pandemic on the market growth.
Key Highlights of the Geospatial Imagery Analytics Market Report
The COVID-19 pandemic has had a positive impact on the growth of the global market for geospatial imagery analytics in 2020. As per the report, the global geospatial imagery analytics market garnered $2,290.0 million in 2019 and is estimated to exceed $11,932.5 million, rising at a CAGR of 23.4% by 2027. In the present situation, the market size has surged owing to the growing demand for geospatial imagery analytics as a vital tool to develop infectious disease modeling.
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Factors Boosting the Geospatial Imagery Analytics Market Growth during the COVID-19 Crisis
An increasing number of people suffering from chronic conditions and severe illnesses such as COVID-19 infection is fueling the demand for emergency help and services. The COVID-19 virus has a tendency to spread rapidly in nearby places; i.e. this virus develops and clusters in some specific areas and gets transferred to adjoining areas. Therefore, geospatial data can be meaningfully used as a crucial tool to create infectious disease modeling. All these factors are boosting the growth of the global geospatial imagery analytics market.
Current Face of the Geospatial Imagery Analytics Market Due to COVID-19
Before the outbreak of the pandemic, the geospatial imagery analytics market was estimated to garner $3,279.2 million in 2020. In the present situation, the market size has amplified and reached up to $3,479.6 million in 2020. More, the CAGR of the market pre-COVID-19 was expected to be 20.1% in the 2020-2027 timeframe, however, in the present scenario, the market is expected to grow with a 23.4% CAGR by 2027.
The rise in the market growth is mainly owing to the growing severity of the virus and increasing cases of COVID-19 in the pandemic period. Market players are taking significant initiatives to make the most of geospatial imagery analytics techniques, which is expected to surge the market’s growth in the coming years.
Future Scope of the Geospatial Imagery Analytics Market
According to the report, the global geospatial imagery analytics market is expected to undergo continuous growth even after the end of the COVID-19 pandemic, owing to growing partnerships, investments in R&D activities, and new developments in the market. Some of the foremost players, such as
- TomTom International BV.
- Trimble Inc.
- L3Harris Technologies, Inc.
- Maxar Technologies
- RMSI
- ALTERYX, INC.
- HEXAGON
- Microsoft
- UrtheCast
- Oracle
and others, are anticipated to come up with innovative developments and pave way for lucrative opportunities for the geospatial imagery analytics market growth in the upcoming years. – Granular Research on Specific Segments or Regions of Geospatial Imagery Analytics Market & Avail Benefit of 10%OFF
For instance, in 2020, BlackSky, a leading company involved in geospatial intelligence and space operations, revealed the results of the analysis of satellite images from several U.S. cities that stated whether the people were obeying with social distancing norms and how the COVID-19 pandemic was wreaking economic downfall.
More about Geospatial Imagery Analytics Market:
- Geospatial Imagery Analytic Solutions to Offer Vital Information for Combating COVID-19 Pandemic
- Strategic Tie-Ups, In The Outbreak Of Covid-19, To Promote The Development Of The Global Geospatial Imagery Analytics Market
