Global Geospatial Imagery Analytics Market

MARKET SCOPE:

The global Geospatial Imagery Analytics market is projected to grow significantly, registering a CAGR of 12.4% during the forecast period (2024 – 2032).

Geospatial analytics involves the acquisition and manipulation of data based on geographic location. Utilizing a range of technological tools, including Global Positioning Systems (GPS), Geographic Information Systems (GIS), georeferencing, metadata, and remote sensing, this field enables precise modeling, trend analysis, and predictions. Geospatial analytics play a crucial role in filtering relevant and useful data from vast datasets, enhancing accuracy. The application of various analytical techniques, such as statistical analysis, facilitates the examination of geographical and spatial data. Leveraging software solutions capable of processing spatial data, generating maps, and employing analytical methods with GIS and geomatics, geospatial analytics provides valuable insights. Furthermore, the seamless integration of geospatial information systems into an organization's enterprise information systems serves as a major driver for the growth of the geospatial analytics market.

MARKET OVERVIEW:

Driver: Growing Demand for location-based insights across various industries worldwide is driving the market growth.

A significant driver for the geospatial imagery analytics market is the increasing demand for location-based insights across various industries. The integration of geospatial imagery analytics enables businesses to derive valuable information from satellite or aerial imagery, offering enhanced decision-making capabilities. Industries such as agriculture, urban planning, defense, and environmental monitoring leverage geospatial imagery analytics to gain insights into patterns, trends, and changes in geographic locations, thereby driving market growth.

Opportunities: Advancements in artificial intelligence (AI) and machine learning (ML) technologies are expected to pave the way for Geospatial Imagery Analytics market growth in the upcoming years.

An opportunity for the geospatial imagery analytics market lies in the advancements in artificial intelligence (AI) and machine learning (ML) technologies. The integration of AI and ML algorithms enhances the analysis of geospatial imagery, allowing for more accurate and real-time insights. This presents an opportunity for market players to develop and offer sophisticated analytics solutions that cater to the evolving needs of industries such as disaster management, infrastructure development, and precision agriculture, thereby expanding their market presence.

COVID IMPACT:

The COVID-19 pandemic has both posed challenges and created opportunities for the geospatial imagery analytics market. The crisis highlighted the importance of location-based data for tracking and managing the spread of the virus. This increased awareness has led to a surge in demand for geospatial analytics solutions in healthcare, logistics, and government sectors. However, the pandemic has also resulted in disruptions to the supply chain and delays in project implementations, impacting the market growth temporarily. The post-pandemic recovery phase is likely to witness an increased focus on resilient and data-driven solutions, offering opportunities for the geospatial imagery analytics market to rebound and thrive.

SEGMENTATION ANALYSIS:

The surveying segment is expected to account for the largest revenue share

The Geospatial Imagery Analytics market is projected to see the surveying segment emerge as the leading contributor to revenue, capturing the largest share in the market. This dominance is expected to be driven by several factors that highlight the crucial role of geospatial imagery analytics in surveying applications.

Surveying involves the collection and analysis of data related to the Earth's surface to understand and map its features. Geospatial imagery analytics plays a pivotal role in surveying by utilizing satellite imagery, aerial photographs, and other geospatial data sources to extract valuable insights. The accuracy and precision offered by geospatial imagery analytics make it an indispensable tool in various surveying activities. One significant driver behind the dominance of the surveying segment is the increasing demand for accurate and up-to-date geospatial information across industries. Surveying applications are widespread, ranging from urban planning, infrastructure development, and environmental monitoring to agriculture, forestry, and natural resource management. As organizations and governments emphasize efficient land-use planning and resource management, the need for precise geospatial data analytics in surveying becomes paramount.

Advancements in satellite technology, remote sensing, and image processing techniques further contribute to the growth of the surveying segment within the Geospatial Imagery Analytics market. These technological advancements enable the extraction of detailed information from imagery, facilitating comprehensive surveying and mapping activities. Additionally, the integration of geospatial imagery analytics with Geographic Information System (GIS) platforms enhances the capabilities of surveying applications, providing users with powerful tools for decision-making and spatial analysis. In conclusion, the expected dominance of the surveying segment in the Geospatial Imagery Analytics market underscores the critical role that geospatial imagery analytics plays in surveying activities across diverse industries, driving the demand for accurate and actionable geospatial information.

REGIONAL ANALYSIS:

The North American region is set to witness significant growth during the forecast period.

In 2022, North America dominated in terms of revenue share, primarily due to the extensive presence of key industry players offering geospatial analytics software and solutions within the region. Prominent companies operating in North America include DigitalGlobe, Alteryx, Inc., Harris Corporation, Trimble Navigation Ltd., Pitney Bowes, ESRI, and Google LLC. The region's market growth is influenced by factors such as the widespread adoption of emerging technologies like Big Data analysis, cloud computing, the Internet of Things (IoT), artificial intelligence (AI), and various business intelligence tools. Furthermore, the high number of available remote sensing satellites, coupled with the presence of high-speed internet and robust communication network infrastructure, along with the widespread adoption of Unmanned Aerial Vehicle (UAV) technology for geospatial data capture, is expected to contribute significantly to the market's expansion.

The United States, being a frontrunner in geospatial data infrastructure and a pioneer in GPS technology development, holds a global leadership position. With initiatives like the Wide Area Augmentation System (WAAS), a satellite-based augmentation system, and an efficient geodetic infrastructure, the U.S. serves as an exemplary model for governance mechanisms and data infrastructure. The global dependence on U.S. technologies has played a pivotal role in fostering market growth within the country. Other nations heavily rely on U.S. advancements, contributing to the robust expansion of the geospatial analytics market in the United States.

COMPETITIVE ANALYSIS

The global Geospatial Imagery Analytics market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.

Google

• In May 2023, Google introduced the Google Geospatial Creator, an advanced tool empowering users to craft immersive Augmented Reality (AR) experiences that combine accuracy with visually striking elements. This tool leverages Photorealistic 3D Tiles and ARCore from the Google Maps Platform, seamlessly integrating with Unity or Adobe Aero. Geospatial Creator offers a three-dimensional perspective of the world, enabling users to seamlessly position their digital content within the real-world environment, akin to the functionalities of Google Earth and Google Street View.

Hexagon AB

• In April 2023, Hexagon AB unveiled the HxGN AgrOn Control Room, a mobile application designed for managers and directors of agricultural enterprises to oversee real-time field operations. This app facilitates prompt identification and resolution of issues, resulting in time and cost savings. Furthermore, it contributes to enhanced safety measures by offering managers the ability to monitor the location and status of field workers.

Alteryx, Inc.

Bentley Systems Incorporated

ESRI

Fugro N.V.

General Electric Company

Google LLC

Foursquare

Trimble

Maxar Technologies Inc.

SAP SE

Scope of the Report

By Component

Software

Service

By Application

Surveying

Medicine & Public Safety

Military Intelligence

Disaster Risk Reduction & Management

Marketing Management

Climate Change Adaption (CCA)

Urban Planning

Others

By Type

Surface & Field Analytics

Network & Location Analytics

Geovisualization

Others

By Region

North America (the United States & Canada)

Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)

Asia Pacific (China, Japan, India, and Rest of Asia Pacific)

Rest of the World (the Middle East & Africa, Latin America, and Rest of The World)

Keys reasons to purchasing this report

It provides a technological development map over time to understand the industry’s growth rate and indicates how the Geospatial Imagery Analytics market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Geospatial Imagery Analytics submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.