In geospatial imagery analytics, data is collected through geo satellites, mapping, GPS and geotagging and from many other sources. This gathered data is then analysed to create important information which issignificant and valuable for making business or organization’s important decision. Global geospatial imagery analytics market is expected to grow with a CAGR of 30% in the forecast period 2016-2023. The key factor growing geospatial imagery analytics market is the advancement of analytics technologies. Increasing demand of security and safety, commoditization of geospatial information is fuelling the geospatial imagery analytics market globally.Increasing adoption of location-based data and the rise indemand of interoperable solutions are the key factors impacting the market. Technological advancement in the geospatial imagery analytics such as remote sensing, global positing system, geographical information system and others are also increasing the global geospatial imagery analytics market. However, complexities involved in integration of enterprise resource management & global information system and growing need of open standards and interoperable platforms are two major challenges of the global geospatial imagery analytics market.
Global geospatial imagery analytics market report covers segmentation analysis on the basis of type, collection medium and verticals. Report further covers sub segmentation of type which includes images and video. The image segment is projected to hold the largest market share during forecast period 2016 to 2023. Existing use of earth imagery in applications across industry verticals, growing demand of high resolution imagery, and obtainability of low cost earth imagery sources are expected to help the image analytics segment hold the largest market share during the forecast period. On the basis of collection medium the report covers sub segmentation of GIS, satellites, unmanned aerial vehicles and others. Vertical segment is further categorized in to defence & security, government, environmental monitoring, energy, utility & natural resources, engineering & construction, mining & manufacturing, insurance, agriculture, healthcare & life science and others. Geospatial imagery analytics in healthcare & life sciences is expectedto drive this market segment during the forecast period.
The geospatial imagery analytics market is expectedto grow rapidlydue to the growth of analytics market and technological advancement in information & technology sector across the globe.The geospatial imagery analytics market is expected to have asignificant CAGR during the forecast period.
North America is estimated to increase the production of geospatial imagery analytics as geospatial imagery analytics have wide verticals such as defence & security, energy, utility & natural resources , government, environment monitoring, engineering & construction, mining & manufacturing, healthcare & life sciences, insurance, agriculture others. Geospatial imagery analytics market for Asia Pacific is also expected to witness steady growth during the forecast period primarily dueto the growth of imagery technologies coupled with the increasing demand for customization specifically in China and India.
Key Players of the market are Hexagon ab, Digital Globeinc, Urthecast Corporation, Trimbleinc., Harris corporation, Google inc and others. Mergersandpartnershipsarethe key strategies adopted by the companies in the globalgeospatial imagery analytics market. For Example: On 18th august 2016, Hexagon geospatial partnered with eGISassociates. Egis Associates works to address the need of product development and consulting services with geospatial industry. This partnership aims to provide best geospatial solutions to variety of clients including private and public enterprises.