Geospatial Imagery Analytics Market Research Report by Forecast to 2023
Posted by Kiran on February 18th, 2020
Geospatial Imagery Analytics Market Synopsis:
As per Market Research Future (MRFR), the global positioning system is expected to thrive at a CAGR of 24.57% and touch a valuation of USD 11.16 billion by 2023. The rise in requirement for location-based services is creating the need for geospatial analytics for surveillance and security applications. This is observed to act as a major factor that is likely to influence the geospatial imagery analytics market in the forecast period (2018–2023).
Geospatial technology is gaining popularity across verticals, such as defense & security, automobile, mining, agriculture, and others. These are some of the fast-growing industries and the application of geospatial technology in these industries can gain considerable traction for the global geospatial imagery market. Geospatial imagery analytics, such as geographical information system (GIS), defense & security, and remote sensing (RS) are becoming highly desirable among security firms and government organizations, along with SMEs and large enterprises.
They are extensively using Geospatial Imagery Analytics Industryto transform manually noted maps and records into digital databases. This feasibility and seamlessness offered by the technology are likely to boost the global geospatial imagery analytics market. Geospatial imagery analytics enables security and surveillance organizations to understand, and effectively track and monitor any potential threats or emergencies. This is adding to the momentum of the global geospatial imagery analytics market. On the contrary, the growing stringency of government norms for the use of geospatial information can hinder the market growth. However, the integration of deep learning and artificial intelligence in geospatial applications can generate lucrative growth opportunities for the market in the years to come.
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Geospatial Imagery Analytics Market Major Key Players:
MRFR listed well-known companies of the global geospatial imagery analytics market. They are; Harris Corporation, Hexagon AB, Environmental Systems Research Institute, DigitalGlobe, Trimble, Google, RMSI, KeyW Corporation, Planet Labs, Fugro NV, UrtheCast Corporation, and Satellite Imaging Corporation.
Geospatial Imagery Analytics Market Segmental Outline:
The global geospatial imagery analytics market is assessed by application, type, and end-users. By type, the market has is sectioned into video-based analytics and imagery analytics.
GIA Market Regional Outlook:
Europe is expected to lead in the global geospatial imagery analytics market growth. Infrastructural developments and the availability of expertise for satellite imagery analytics development are causes that can propel the growth of the geospatial imagery analytics market in Europe. Germany, followed by France, and Russia, are likely to draw good business for the regional market.
North America is anticipated to rank second in the global geospatial imagery analytics market growth. The geospatial imagery analytics substantial revenue owing to the high rate of adoption of geospatial imagery analytics and signal intelligence by wealthy and ever-expanding sectors, such as military & defense and automotive to analyze environmental threats. The US is likely to lead in the regional market, followed by Canada. Mexico is expected to exhibit a steady growth rate in the review period.
The geospatial imagery analytics in the Asia Pacific is expected to thrive at a high CAGR across the forecast period. The presence of proficient geospatial imagery analytics developers in countries, such as China is likely to contribute to the APAC market growth. In India, the market is expected to experience a sharp rise in its revenue owing to the growing support from the government for developing aerial capabilities for the nation.
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About the AuthorKiran
Joined: October 18th, 2019
Articles Posted: 184
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