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Geospatial Imagery Analytics Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2026

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Geospatial Imagery Analytics Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2026

January 24
13:20 2024
Geospatial Imagery Analytics Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2026
Google (US), Microsoft (US), Oracle (US), L3Harris Corporation (US), Hexagon AB (Sweden), ESRI (US), TomTom (Netherlands), Trimble (US), Alteryx (US), RMSI (India), Maxar Technologies (US), Ola (India), Planet Labs (US), Orbital Insight (US), UrtheCast (Canada), Geocento (UK), Sparkgeo (Canada), Mapidea (Portugal), and Slingshot Aerospace (US).
Geospatial Imagery Analytics Market by Type (Imagery Analytics and Video Analytics), Collection Medium (Satellites, UAVs, and GIS), Application, Deployment Mode, Organization Size, Vertical and Region – Global Forecast to 2026

The geospatial imagery analytics market is projected to grow from USD 9.1 billion in 2021 to USD 37.5 billion by 2026, at a CAGR of 32.8% during the forecast period. The key factors driving the growth of this market include the rise of geospatial imagery analytics technologies and the increasing competition.

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Cloud segment to account for higher CAGR during the forecast period

The Geospatial imagery analytics market is bifurcated on the basis of cloud and on-premises. The market size of the cloud deployment mode is estimated to be larger and projected to have a higher CAGR during the forecast period. The cloud-based deployment helps businesses more efficiently process and report data findings, enhance collaboration, and enable decision-makers to get faster access to business intelligence leading to its higher adoption in the Geospatial imagery analytics market.

SMEs segment to hold a larger market size during the forecast period

The SMEs segment is a faster-growing segment in the Geospatial imagery analytics market during the forecast period as cloud-based solutions and services help them improve business performance and enhance productivity. The adoption of Geospatial imagery analytics software and services among large enterprises is high due to the ever-increasing adoption of the cloud, and the trend is expected to continue during the forecast period.

According to IBM, geospatial imagery analytics is used to add timing and location to traditional types of data and build data visualizations. These visualizations can include maps, graphs, statistics, and cartograms that show historical changes and current shifts. This additional context enables a complete picture of events.

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Unique Features in the Geospatial Imagery Analytics Market

Data collection outside of the visible spectrum is made possible by the incorporation of remote sensing technology. This includes multispectral and infrared imaging, which makes advanced analytics possible for use in environmental monitoring, agriculture, and other fields.

Object detection, identification, and categorization within pictures are made possible by advanced analytics algorithms. Buildings, roads, trees, and water bodies are among the things that can be automatically detected.

One important element is seamless connection with platforms for Geographic Information Systems (GIS). Users can combine satellite imagery with other spatial data for in-depth research by utilising the geospatial imagery analytics tools that frequently interact with GIS applications.

Reduced manual labour is needed for analysis thanks to automated feature extraction capabilities that help extract relevant information from pictures. Data on infrastructure, land usage, and natural features are among the things this involves extracting.

Precision agriculture can benefit from specific features provided by geospatial imagery analytics solutions. This entails keeping an eye on crop health, evaluating soil conditions, and allocating resources as efficiently as possible using thorough imaging analysis.

Major Highlights of the Geospatial Imagery Analytics Market

Precision agriculture has witnessed a surge in the utilisation of geospatial imaging analytics. Analytics tools are used by farmers to track crop health, adjust irrigation, and raise total yield.

Initiatives related to smart cities and urban planning heavily rely on geospatial imaging analytics. In order to create more sustainable urban environments, it helps city planners analyse land use, transportation patterns, and infrastructure development.

GIS platforms and providers of analytics for geospatial imagery have been working together more. Thanks to this integration, users can conduct more thorough and perceptive analyses by combining satellite imagery with other geographical data.

Monitoring and responding to disasters now heavily relies on geospatial imagery analytics. Governments and organisations use technology to organise emergency responses, aid in recovery efforts, and evaluate the effects of natural catastrophes.

The expansion of commercial satellite constellations has enhanced worldwide coverage and increased the frequency of image acquisition. The frequency and availability of geospatial images for analytics applications are improved by this breakthrough.

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Top Key Companies in the  Geospatial Imagery Analytics Market

Some of the key players operating in the Geospatial imagery analytics market include Google (US), Microsoft (US), Oracle (US), L3Harris Corporation (US), Hexagon AB (Sweden), ESRI (US), TomTom (Netherlands), Trimble (US), Alteryx (US), RMSI (India), Maxar Technologies (US), Ola (India), Planet Labs (US), Orbital Insight (US), UrtheCast (Canada), Geocento (UK), Sparkgeo (Canada), Mapidea (Portugal), ZillionInfo (US), Geospin (Germany), OneView (Israel), Boston Geospatial (US), SafeGraph (US), Hydrosat (US), GeoVerra (Canada), and Slingshot Aerospace (US). These Geospatial imagery analytics vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global Geospatial imagery analytics market.

RMSI is a global leader in providing geospatial and engineering software solutions for risk, flood, telecom, climate change, utilities, and more. The company’s solutions address global issues, such as climate change, natural calamities, food security, human habitation, autonomous transportation, networks, and smart utilities. It mostly provides solutions across the entire geospatial value chain – from data enhancement to software development, modeling, analytics, and consulting.

Alteryx is one of the leading data blending and advanced analytics software companies. It provides an end-to-end data science and analytics platform for the enterprise. The company has been expanding its statistical and analytics capabilities, increasing its big data and SaaS connectivity, and delivering a cloud platform for analytics applications called Alteryx Analytics Gallery. Alteryx provides solutions and services to a wide range of industry verticals, including BFSI, healthcare, retail, transportation and logistics, oil and gas, real estate, communication, energy and utilities, education, manufacturing, media and entertainment, travel and hospitality, and public sector.

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