Geospatial Imagery Analytics Market Size to Grow by USD 69.06 Billion by 2030 | The Brainy Insights
The global geospatial imagery analytics market is driven by governments throughout the world adopting geospatial analytic solutions in security and defense.
NEWARK, UNITED STATES, April 22, 2022 /EINPresswire.com/ — The global geospatial imagery analytics market is expected to grow from USD 5.85 Billion in 2020 to USD 69.06 Billion by 2030, at a CAGR of 28% during the forecast period 2021-2030. Due to the convergence and integration of mainstream technologies, commercialization of geospatial information, and the necessity for security and safety, the industry expects a tremendous increase in demand. In addition, governments all around the world are using geospatial imaging analysis solutions for defense and security. Geospatial imagery analytics is also supported by several government and private organizations.
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The imagery analytics segment led the market with a market value of around 4.36 billion in 2020.
The type segment is divided into video analytics and imagery analytics. The imagery analytics segment led the market with a market value of around 4.36 billion in 2020 because satellite technology has advanced to the point that satellites can now capture high-resolution photos. Such systems capture image-based geospatial information in the form of vector images and raster images, which include lines, points, and tabular images. These high-resolution photos are proving to be an invaluable resource for geospatial assessment and modelling.
The geographic information system segment will have the largest market share over the forecast period.
The collection medium segment is divided into satellites, geographic information system, unmanned aerial vehicles, others. During the forecast period, the geographic information system segment will have the largest market share. It is a mapping tool that can analyse geographical data that is georeferenced using any information including location. The location can be stated in longitude and latitude, zip code or address.
The on-premises segment led the market with a market value of around 3.77 billion in 2020.
The deployment mode segment is divided into cloud and on-premises. The on-premises segment led the market with a market value of around 3.77 billion in 2020 because of the enterprise-level deployment of geospatial imagery analytics solutions on their servers, which allows them to keep their material locally.
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The surveillance and monitoring segment led the market with a market value of around 1.53 billion in 2020.
The application segment is divided into construction and development, surveillance and monitoring, energy and resource management, disaster management, conservation and research, exhibition and live entertainment, other applications. The surveillance and monitoring segment led the market with a market value of around 1.53 billion in 2020.
Regional Segmentation Analysis:
The market is analyzed based on five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region emerged as the largest market for the global geospatial imagery analytics market with a 1.97 billion of the market revenue in 2020 because of advances in the utilisation of Internet of Things (IoT), big data, Machine Learning (ML), Artificial Intelligence (AI), and its integration with geospatial technologies to improve communication.
Competitive Analysis:
The major players of market include Alteryx, Esri, Geocento, Geospin, GeoSpoc, Google, Harris Corporation, Hexagon, Mapidea, Maxar Technologies, Microsoft, Oracle, Orbital Insight, Planet Labs, RMSI, Sparkgeo, TomTom, Trimble, UrtheCast and ZillionInfo among others.
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