Geospatial Imagery Analytics Market
Geospatial Imagery Analytics Market Forecasts to 2030 - Global Analysis By Type (Imagery Analytics, Video Analytics and Other Types), Collection Medium (Geographic Information System (GIS), Satellite Imagery, UAV, Drones and Other Collection Mediums), Deployment Mode (Cloud, On-premises and Other Deployment Modes), Organization Size, Application, End User and by Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $15.46 BN |
|
Projected Year Value (2030) |
US $97.51 BN |
|
CAGR (2023 - 2030) |
30.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Geospatial Imagery Analytics Market is accounted for $15.46 billion in 2023 and is expected to reach $97.51 billion by 2030 growing at a CAGR of 30.1% during the forecast period. The field of study and technology known as geospatial imagery analytics focuses on the analysis of satellite or aerial imagery to extract useful data about the surface of the Earth. Geospatial imagery analytics makes it possible to identify, classify, and interpret a variety of features, including vegetation, land cover, urban development, and natural disasters. It does this by utilizing sophisticated algorithms and artificial intelligence. Moreover, numerous applications, such as national security, agriculture, urban planning, disaster response, and environmental monitoring, depend heavily on this technology.
According to the Consumer Technology Association, spending on smart cities was US$ 34.85 billion last year and is predicted to reach US$ 54.35 billion by 2026.
Market Dynamics:
Driver:
Growing requirement for services based on location
The need for geospatial imagery analytics is fueled by the growth of location-based services (LBS) in sectors like logistics, retail, and healthcare. Companies use location data to improve operational efficiency, customize customer experiences, and optimize supply chains. Additionally, the integration of geospatial analytics into various sectors is facilitated by the provision of essential spatial context required for efficient decision-making in the creation and provision of location-based services.
Restraint:
High setup costs
Implementing geospatial imagery analytics solutions comes with significant upfront costs that include hiring staff and purchasing cutting-edge technology. It may be difficult for organizations to allocate funds for qualified experts who can handle and analyze geospatial data. Furthermore, possible ways to reduce these upfront setup costs include the creation of cost-effective technologies, cooperative partnerships, and creative finance models.
Opportunity:
Rapid development in 5g technology
Opportunities for improved data connectivity and quicker communication arise with the widespread adoption of 5G technology. Applications in autonomous vehicles, augmented reality (AR), and other time-sensitive fields are made easier by the ability to process and analyze geospatial data in real-time. Moreover, with 5G networks high bandwidth and low latency, geospatial imagery analytics can provide more dynamic and responsive solutions.
Threat:
Accuracy and quality of data
Sustaining the dependability of geographic analytics necessitates continuous endeavors to tackle issues pertaining to data precision and quality. Accuracy can be reduced by making investments in cutting-edge data validation methods, frequent updates to satellite imagery, and the inclusion of ground truth data. Furthermore, maintaining the integrity of geospatial insights requires ongoing monitoring procedures and collaborations with data providers.
Covid-19 Impact:
The geospatial imagery analytics market experienced a notable impact from the COVID-19 pandemic, presenting both opportunities and challenges. Although supply chain disruptions and project delays initially presented challenges, growing awareness of the crucial role that geospatial analytics plays in pandemic response spurred demand. The rise in applications for remote monitoring, crisis management, and healthcare highlights the significance of technology in tackling global issues. Moreover, the market is positioned for steady growth as economies rebound and resilience gains traction propelled by a greater awareness of the critical role that geospatial imagery analytics plays in manoeuvring through complex and dynamic situations.
The Disaster Management segment is expected to be the largest during the forecast period
In the market for geospatial imagery analytics, the disaster management segment has the largest market share. The capability of geospatial imagery analytics to promptly and precisely evaluate and address natural disasters, such as hurricanes, floods, wildfires, and earthquakes, has made it an essential tool for disaster management organizations around the world. Additionally, effective disaster response plans can be planned and carried out with the help of geospatial analytics, which offers real-time situational awareness, predictive modeling, and post-event analysis. By assisting with damage assessment, evacuation planning, and resource allocation, technology eventually increases community resilience and lessens the effects of disasters.
The Environmental Monitoring segment is expected to have the highest CAGR during the forecast period
The environmental monitoring segment is projected to have the highest CAGR. Organizations and governments around the world are depending more and more on geospatial imagery analytics to track and evaluate changes in ecosystems, climate patterns, and natural resources as environmental concerns grow. Applications like monitoring deforestation, analyzing the quality of the air and water, and conserving biodiversity are covered in this section. Furthermore, proactive environmental management and sustainability goal compliance are made possible by the precise and real-time data insights made possible by the integration of cutting-edge satellite technology and analytics tools.
Region with largest share:
North America commands the largest share in the market. Its sophisticated infrastructure, widespread use of geospatial technologies in a wide range of industries, and a strong network of important industry participants are all considered contributing factors to the region's dominance. Using geospatial imagery analytics for applications ranging from urban planning, environmental monitoring, and healthcare to defense and security, the United States in particular has been at the forefront of this field. Additionally, contributing to North America's dominance in the global market are the existence of top providers of geospatial analytics, R&D projects, and government spending on cutting-edge satellite technologies.
Region with highest CAGR:
The region with the highest CAGR in the market is Asia-Pacific. The region has significant growth potential due to its rapid economic development, growing population, and increasing adoption of advanced technologies. The need for geospatial imagery analytics is being driven by government investments in infrastructure development, smart city initiatives, and disaster management in nations like China, India, and Japan. Moreover, the growing emphasis on environmental sustainability and the development of sectors like mining, healthcare, and agriculture encourage the use of geospatial analytics.
Key players in the market
Some of the key players in Geospatial Imagery Analytics market include L3Harris Corporation, Maxar Technologies, Microsoft, Alteryx, Hexagon AB, Google, Citrix Systems Inc., Hydrosat, Boston Geospatial, Ola, TomTom International BV, Planet Labs PBC, Harris Corporation, Oracle Corporation, Toshiba Corporation, Sparkgeo, UrtheCast Corporation and Satellite Imaging Corporation.
Key Developments:
In November 2023, L3Harris Technologies announced the signing of a definitive agreement under which an affiliate of TJC L.P. will acquire L3Harris’ Commercial Aviation Solutions business for $800 million. The acquisition includes a $700 million cash purchase price and $100 million earnout based on the achievement of certain 2023 and 2024 financial performance targets, which together represent an approximate 15x LTM 9/30 EBITDA purchase multiple.
In September 2023, Google and El Salvador have announced a $500 million strategic partnership to modernize the country’s government. Although details of the agreement are scarce, it will include digital government, digitizing processes such as electronic invoices and incorporating Google Cloud AI into education and healthcare. “El Salvador is moving forward. We believe technology and foreign investment are key for development. We are quickly becoming a hub for innovation.
In February 2023, The National Geospatial-Intelligence Agency awarded Maxar Technologies a five-year contract to provide commercial satellite imagery to U.S. allies. The contract is worth as much as $192 million, the Westminster, Colorado-based company said in a Feb. 8 statement. It includes high-resolution electro-optical imagery as well as synthetic aperture radar products, which uses radar to see through clouds and in dark conditions and detect things like material properties, precise movement and elevation.
Types Covered:
• Imagery Analytics
• Video Analytics
• Other Types
Collection Mediums Covered:
• Geographic Information System (GIS)
• Satellite Imagery
• UAV
• Drones
• Other Collection Mediums
Deployment Modes Covered:
• Cloud
• On-premises
• Other Deployment Modes
Organization Sizes Covered:
• Large Enterprises
• Small and Medium-Sized Enterprises (SMEs)
Applications Covered:
• Weather Conditions Monitoring
• Disaster Management
• Urban Planning/Development
• Natural Resource Exploration
• Sales & Marketing Optimization
• Other Applications
End Users Covered:
• Insurance
• Defense and Security
• Government
• Environmental Monitoring
• Energy, Utility, and Natural Resources
• Engineering and Construction
• Mining and Manufacturing
• Agriculture
• Healthcare and Life Sciences
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Geospatial Imagery Analytics Market, By Type
5.1 Introduction
5.2 Imagery Analytics
5.3 Video Analytics
5.4 Other Types
6 Global Geospatial Imagery Analytics Market, By Collection Medium
6.1 Introduction
6.2 Geographic Information System (GIS)
6.3 Satellite Imagery
6.4 UAV
6.5 Drones
6.6 Other Collection Mediums
7 Global Geospatial Imagery Analytics Market, By Deployment Mode
7.1 Introduction
7.2 Cloud
7.3 On-premises
7.4 Other Deployment Modes
8 Global Geospatial Imagery Analytics Market, By Organization Size
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises (SMEs)
9 Global Geospatial Imagery Analytics Market, By Application
9.1 Introduction
9.2 Weather Conditions Monitoring
9.3 Disaster Management
9.4 Urban Planning/Development
9.5 Natural Resource Exploration
9.6 Sales & Marketing Optimization
9.7 Other Applications
10 Global Geospatial Imagery Analytics Market, By End User
10.1 Introduction
10.2 Insurance
10.3 Defense and Security
10.4 Government
10.5 Environmental Monitoring
10.6 Energy, Utility, and Natural Resources
10.7 Engineering and Construction
10.8 Mining and Manufacturing
10.9 Agriculture
10.10 Healthcare and Life Sciences
10.11 Other End Users
11 Global Geospatial Imagery Analytics Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 L3Harris Corporation
13.2 Maxar Technologies
13.3 Microsoft
13.4 Alteryx
13.5 Hexagon AB
13.6 Google
13.7 Citrix Systems Inc.
13.8 Hydrosat
13.9 Boston Geospatial
13.10 Ola
13.11 TomTom International BV
13.12 Planet Labs PBC
13.13 Harris Corporation
13.14 Oracle Corporation
13.15 Toshiba Corporation
13.16 Sparkgeo
13.17 UrtheCast Corporation
13.18 Satellite Imaging Corporation
List of Tables
1 Global Geospatial Imagery Analytics Market Outlook, By Region (2021-2030) ($MN)
2 Global Geospatial Imagery Analytics Market Outlook, By Type (2021-2030) ($MN)
3 Global Geospatial Imagery Analytics Market Outlook, By Imagery Analytics (2021-2030) ($MN)
4 Global Geospatial Imagery Analytics Market Outlook, By Video Analytics (2021-2030) ($MN)
5 Global Geospatial Imagery Analytics Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Geospatial Imagery Analytics Market Outlook, By Collection Medium (2021-2030) ($MN)
7 Global Geospatial Imagery Analytics Market Outlook, By Geographic Information System (GIS) (2021-2030) ($MN)
8 Global Geospatial Imagery Analytics Market Outlook, By Satellite Imagery (2021-2030) ($MN)
9 Global Geospatial Imagery Analytics Market Outlook, By UAV (2021-2030) ($MN)
10 Global Geospatial Imagery Analytics Market Outlook, By Drones (2021-2030) ($MN)
11 Global Geospatial Imagery Analytics Market Outlook, By Other Collection Mediums (2021-2030) ($MN)
12 Global Geospatial Imagery Analytics Market Outlook, By Deployment Mode (2021-2030) ($MN)
13 Global Geospatial Imagery Analytics Market Outlook, By Cloud (2021-2030) ($MN)
14 Global Geospatial Imagery Analytics Market Outlook, By On-premises (2021-2030) ($MN)
15 Global Geospatial Imagery Analytics Market Outlook, By Other Deployment Modes (2021-2030) ($MN)
16 Global Geospatial Imagery Analytics Market Outlook, By Organization Size (2021-2030) ($MN)
17 Global Geospatial Imagery Analytics Market Outlook, By Large Enterprises (2021-2030) ($MN)
18 Global Geospatial Imagery Analytics Market Outlook, By Small and Medium-Sized Enterprises (SMEs) (2021-2030) ($MN)
19 Global Geospatial Imagery Analytics Market Outlook, By Application (2021-2030) ($MN)
20 Global Geospatial Imagery Analytics Market Outlook, By Weather Conditions Monitoring (2021-2030) ($MN)
21 Global Geospatial Imagery Analytics Market Outlook, By Disaster Management (2021-2030) ($MN)
22 Global Geospatial Imagery Analytics Market Outlook, By Urban Planning/Development (2021-2030) ($MN)
23 Global Geospatial Imagery Analytics Market Outlook, By Natural Resource Exploration (2021-2030) ($MN)
24 Global Geospatial Imagery Analytics Market Outlook, By Sales & Marketing Optimization (2021-2030) ($MN)
25 Global Geospatial Imagery Analytics Market Outlook, By Other Applications (2021-2030) ($MN)
26 Global Geospatial Imagery Analytics Market Outlook, By End User (2021-2030) ($MN)
27 Global Geospatial Imagery Analytics Market Outlook, By Insurance (2021-2030) ($MN)
28 Global Geospatial Imagery Analytics Market Outlook, By Defense and Security (2021-2030) ($MN)
29 Global Geospatial Imagery Analytics Market Outlook, By Government (2021-2030) ($MN)
30 Global Geospatial Imagery Analytics Market Outlook, By Environmental Monitoring (2021-2030) ($MN)
31 Global Geospatial Imagery Analytics Market Outlook, By Energy, Utility, and Natural Resources (2021-2030) ($MN)
32 Global Geospatial Imagery Analytics Market Outlook, By Engineering and Construction (2021-2030) ($MN)
33 Global Geospatial Imagery Analytics Market Outlook, By Mining and Manufacturing (2021-2030) ($MN)
34 Global Geospatial Imagery Analytics Market Outlook, By Agriculture (2021-2030) ($MN)
35 Global Geospatial Imagery Analytics Market Outlook, By Healthcare and Life Sciences (2021-2030) ($MN)
36 Global Geospatial Imagery Analytics Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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