Selbyville, Delaware,, Jan. 25, 2023 (GLOBE NEWSWIRE) —
The geospatial imagery analytics market valuation is anticipated to surpass USD 50 billion by 2032, as reported in a research study by Global Market Insights Inc.
The report reveals that the demand for wireless devices and location-based sensors is growing at a considerable rate every year. These devices allow businesses to collect location-specific information on certain events taking place in a territory, which is predicted to boost the market demand. Geospatial imagery analytics solutions help companies simultaneously analyze various events across different time zones and locations to make smarter & informed decisions.
The defense sector is also expanding at a notable pace in several regions owing to the rise in national security threats. This has increased the need to modernize traditional military technologies and security reforms. Geospatial imagery analytics can play a vital role in helping defense forces make strategic decisions, conduct daily operations smoothly, and counter asymmetric threats.
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The image-based analytics segment accounted for 75% market share in 2022. Businesses are increasingly adopting a wide range of geospatial technologies, including Geographic Information Systems (GIS), remote sensing, and other positioning systems, which may impact the installation of image-based analytics applications. Geospatial imagery service providers are also using drones and surveillance cameras to analyze video content and improve their daily operations, further contributing to product consumption.
The geospatial imagery analytics market from satellite imagery segment was valued at 30% revenue share in 2022. The spatial sector is witnessing rapid expansion as several new satellite navigation systems are being launched by space research organizations. The usage of advanced technologies, GNSS platforms, and imaging sensors is thus set to spur the demand for analytics software to analyze and interpret geodata sets. Government authorities are also investing in satellite research & development to facilitate improvements in mining, defense, and disaster management, among other application areas, in turn, promoting the usage of satellite imagery systems.
The mining applications is estimated to expand at 25% CAGR through 2032, due to growing demand for safe & secure mining operations is increasing steadily, considering the high risk of accidents in the industry. Many mining companies are therefore increasing their focus on extracting more value from their planning, mining, and data processing operations to make informed strategic decisions. This includes the usage of geospatial imagery analytics to gain more comprehensive insight into mining operations.
Middle East and Africa (MEA) geospatial imagery analytics market is poised to reach USD 2.5 billion by 2032. UAVs are being deployed on a large scale across the region’s construction, agriculture, disaster management, and government sectors. Defense and intelligence agencies are also integrating various GIS-based technologies, given the high importance of spatial data in these organizations. This data can support the agencies in making faster and more accurate decisions with respect to national security missions.
Major players involved in the geospatial imagery analytics market include AeroVironment, Alphabet Inc. (Google), Autodesk, Inc., Environmental Systems Research Institute, Inc. (ESRI), General Electric, GeoSpatila Analytics Inc, Oracle Corporation, Planet Labs PBC., Precision Hawk, Satellite Imaging Corporation, SNC-Lavalin Group, TomTom International B.V., and Trimble, Inc. These firms are focusing on diverse strategies, including partnerships, to strengthen their position in the market.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Geospatial imagery analytics market 360º synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM)
2.3 Regional trends
2.4 Analytics type trends
2.5 Deployment model trends
2.6 Collection medium trends
2.7 Application trends
Chapter 3 Geospatial Imagery Analytics market Insights
3.2 Impact on COVID-19 impact
3.2.1 North America
3.2.3 Asia Pacific
3.2.4 Latin America
3.3 Russia- Ukraine war impact on geospatial imagery analytics market
3.4 Geospatial imagery analytics benefits
3.4.1 Enhance data visualization
3.4.2 Analysis of sales performance
3.4.3 Asset management
3.4.4 Augments situational awareness and intelligence
3.4.5 Enhances transportation and logistics planning
3.5 Evolution of geospatial imagery analytics
3.6 Geospatial imagery analytics industry ecosystem analysis
3.6.1 GIS data collection software providers
3.6.2 GIS hardware providers
3.6.3 GIS analytics software provider
3.6.4 UAV providers
3.6.5 System integrators
3.6.7 Profit margin analysis
3.6.8 Vendor matrix
3.7 Technology & innovation landscape
3.7.1 Big Data Analytics
3.7.2 Artificial Intelligence (AI)
3.8 Patent analysis
3.9 Investment portfolio
3.10.1 North America
3.10.3 Asia Pacific
3.10.4 Latin America
3.11 Regulatory landscape
3.12 Impact forces
3.12.1 Growth drivers
18.104.22.168 Increasing demand for location-based services
22.214.171.124 Convergence of geospatial information with mainstream technologies
126.96.36.199 Growing demand for geospatial imagery analytics in the mining and construction sectors
188.8.131.52 Emergence of cloud-based geospatial imagery analytics
184.108.40.206 Rising demand for geospatial imagery analytics for national security and safety
3.12.2 Industry pitfalls & challenges
220.127.116.11 Stringent government policies regarding geospatial data
18.104.22.168 Data integration with enterprise solution
3.13 Growth potential analysis
3.14 Porter’s analysis
3.15 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.