North America Geospatial Imagery Analytics Market to grow rapidly over the forecast period due to the development of new satellite technologies.
— Geospatial Imagery Analytics Market trends will witness increasing traction, owing to rapidly advancing technologies that have allowed companies to adopt spatial tracking and imaging tools including remote sensors and wireless devices. The technology offers different ways in which maps could be produced and used by several public and private enterprises as well as communities. Researchers and GIS professionals using cloud computing to access any resourceful information related to geospatial data will expand the scope of geospatial imagery analytics market.
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The geospatial imagery analytics market in video-based geospatial imagery analytics solutions are expected to grow at a CAGR of over 25% during the forecast period due to the rising adoption of drones and surveillance cameras by businesses to easily analyze and utilize video content to support their daily operations. Geospatial Imagery analytics helps in managing fragmented video data generated from these platforms and enables the analysis of geospatial events.
Geospatial imagery analytics market in agriculture application is projected to show a growth rate of over 25% in 2025 due to the increase in the adoption of drones and remote sensing technologies to improve farming methods. The geospatial imagery analytics techniques are helping in reducing the effects of poor farming techniques and natural disasters by analyzing geospatial data captured by drones. These techniques ensure the safety of crops and the judicious use of natural resources. The government authorities are focusing on improving the farming techniques with the use of geospatial imagery analytics.
The defense and intelligence community utilizes geospatial imagery that is heavily dependent on image processing software, providing the benefits of multispectral imaging features. Hawkeye, a commercial satellite constellation operator, recently launched RFGeo that uses satellite generated data to introduce new geospatial analysis of data which the satellite delivers, in a standard format for a common tracking software. The company has also reached military market and has demonstrated the remarkable potential for geospatial imagery analytics market in partnership with the intelligence community.
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The North America region held the maximum share of over 35% in geospatial imagery analytics in 2018 due to the development of new satellite technologies. The government authorities in the region are focusing on increasing the investments in space research technologies. For instance, in December 2017, the federal government of Canada invested around USD 54 million as a part of its commitment to the International Space Station (ISS) to pave the way for the development of new technologies in space robotics.
Several companies are involved in the development and advancement of geospatial products that are experiencing high demand, with the fast-paced advancement of smart technologies, including Bentley Systems, AeroVironment Inc., Harris Corporation, PrecisionHawk, Inc. and Satellite Imaging Corporation. Strategic partnerships with other companies, governments and intelligence agencies will help bolster geospatial imagery analytics market size, which is estimated to surpass annual revenues of USD 8 billion by 2025.
Table Of Content For This Research Report:
Chapter 5 Geospatial Imagery Analytics Market, By Analytics Type
5.1 Key trends, by type
5.2 Image-based analytics
5.2.1 Image-based analytics market size
5.3 Video-based analytics
5.3.1 Video-based analytics market size
Chapter 6 Geospatial Imagery Analytics Market, By Deployment Model
6.1 Key trends, by deployment model
6.2.1 On-premise market size
6.3.1 Cloud market size
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