Yahoo Finance Geospatial Imagery Analytics Market Size Projected to Reach $37.5 billion by 2026, growing at a CAGR of 32.8%: Report by MarketsandMarkets
Chicago, Dec. 19, 2022 (GLOBE NEWSWIRE) -- 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, according to report by MarketsandMarkets. Geospatial imagery analytics, often known as earth analytics, delivers video and picture data of the world. The data is used by businesses across numerous industries to identify potential risks and develop backup strategies. Satellite image data is used in geospatial imagery analytics. 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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188 – Tables
51 – Figures
244 – Pages
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Scope of the Report
Report Metrics | Details |
Market size value for 2026 | USD 37.5 Billion |
Market size available for years | 2016–2026 |
Growth Rate (CAGR) | 32.8% CAGR |
Base year considered | 2021 |
Forecast period | 2022–2026 |
Forecast units | USD Billion |
Segments covered | Type, Collection Medium, Deployment Mode, Organization Size, Vertical, And Region |
Geographies covered | North America, Europe, APAC, Latin America and MEA |
Geospatial Imagery Analytics Market Drivers |
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Geospatial Imagery Analytics Market Opportunities |
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Companies covered | 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) |
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 capacity to do complex, resource-intensive analysis on extremely big datasets from thin or mobile clients is one of the main advantages of implementing image analytics in the cloud. The requirement for powerful, specialised clients is reduced by transferring the analysis to the data, favouring lightweight apps that can call analysis functions over the web. 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. Also, due to increased accessibility and affordability, more SMEs are using geospatial technologies in their operations. SMEs have a significant appetite for more authoritative cross-border data that could enhance their product and service offerings, result in cost savings, and boost their competitiveness. The adoption of Geospatial imagery analytics software and services among SMEs is high due to the ever-increasing adoption of the cloud, and the trend is expected to continue during the forecast period.
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Healthcare and Life sciences segment to have a higher growth rate during the forecast period
The relationship between geospatial data and healthcare policy is basic, extensive, and dynamic. A civilization in which the ability to feed real-time health data into predictive systems and to tell individuals in real-time of the effectiveness (or failure) of healthcare interventions enables smart healthcare for smart cities. Geospatial imagery analytics also helps in decision-making by providing real-time information that can support decisions and deliver actionable insights for the vertical. It offers insights that can aid in enhancing the efforts put into patient care, enhance services, and improve existing procedures.
Asia Pacific to hold higher CAGR during the forecast period
Asia Pacific is showing a substantial rise in the adoption of Geospatial imagery analytics solutions and services during the forecast period. Government officials throughout the region are increasingly focusing on increasing investments in space research technologies, which will primarily outline the industry's growth. Meanwhile, the increasing deployment of novel satellite navigation systems is expected to support the development of the region's Geospatial Imagery Analytics Market.
With rising investments, prominent market players are constantly developing new solutions to strengthen their position in the industry landscape through new partnerships. Countries such as China, and Japan are focusing on enhancing the management of data to enable data-based business decisions and enhance business processes.
Major vendors in the global Geospatial Imagery Analytics Market 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).
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