Market Overview
The
Global Geospatial Imagery Analytics Market is expected to reach a value of
USD 9.1 billion in 2023, and it is further anticipated to reach a market value of
USD 50.5 billion by 2032 at a b The market has seen significant growth over the past few years and is predicted to grow significantly during the forecasted period as well.
![Geospatial Imagery Analytics Market Growth Analysis](https://dimensionmarketresearch.com/reportimage/Geospatial-Imagery-Analytics-Market.jpg)
Geospatial imaging analytics includes a set of tools that analyze data from GPS, satellite imagery, or maps to derive valuable insights for important business decisions, which utilizes big data & predictive analytics, benefiting both private & public sectors in decision-making, risk assessment, urban planning, disaster management, & climate analysis, providing more detailed images compared to 2D & 3D analyses.
Market Dynamic
The rapid development of analytics technology stands as the key driving force behind the global geospatial imagery analytics market's growth, with the growth in demand for geospatial imaging analytics propelled by the abundance of data from diverse sources like global navigation satellite systems, satellite remote sensing, aerial surveys, digital cameras, radar, & LiDAR. Deep learning &
artificial intelligence (AI) play an important role in automating the recognition of objects & patterns within satellite imagery.
However, strict government regulations pose a restraint to market expansion. On the flip side, the growth in adoption of location-based services is anticipated to fuel market growth over the projected period, as businesses & consumers alike recognize the value of location-based data & services for different applications.
Research Scope and Analysis
By Component
In terms of component, the software segment takes the lead in revenue contribution in 2023, majorly because businesses the growing in the adoption of software solutions to acquire location-based Business Intelligence (BI), allowing more informed decision-making, which is further propelled by the growing adoption of analytics software for purposes like forest management, environment monitoring, and traffic surveillance. In addition, the emergence of 4-dimensional GIS software augments the growth prospects of the software segment.
Further, the services segment is anticipated to witness rapid expansion during the forecast period, which can be attributed to the increase in demand for installation, training, & support services, which is driven by the rise in deployment of software & solutions. Government agencies & public safety organizations are using analytics for natural resource monitoring, infrastructure projects, border security, & vehicle safety enhancements. Further, companies are introducing Geospatial Analytics-as-a-Service to meet changing market demands.
By Type
In 2023, the surface and field analytics segment take the lead in revenue generation, highly due to its widespread adoption by government entities & private companies for many applications, like infrastructure development projects, water flow assessment, & the design of drainage systems, which is also instrumental in agriculture for analyzing topsoil erosion.
Further, the network & location analytics segment is anticipated to experience the fastest growth in the foreseeable future. Its rising popularity is driven by its increased utilization in optimizing marketing strategies and creating highly personalized promotional content. Location plays a pivotal role in geospatial analytics, enhancing the functionality and relevance of data analysis. It also enables real-time data organization and visualization, offering valuable insights and patterns for effective marketing activities, essential for expanding operations, exploring new markets, and achieving customer satisfaction.
By End User
The environmental monitoring sector stands out as the leading revenue generator in 2023 and is projected to show the most rapid growth in the future. The increasing concerns over environmental issues, like global warming, have increased the demand for geospatial technologies like Remote Sensing (RS) & Geographic Information Systems (GIS) for effective monitoring of environmental changes. These technologies use satellite imagery to map & assess the Earth's surface, aiding in the analysis of geospatial images to comprehend the impact of human activities on the environment. This valuable insight catalyzes conservation & preservation initiatives, addressing growing environmental apprehensions.
The Geospatial Imagery Analytics Market Report is segmented on the basis of the following
By Component
By Type
- Surface & Field Analytics
- Network & Location Analytics
- Geovisualization
- Others
By End User
- Environmental Monitoring
- Defense & Security
- Energy & Utility
- Engineering & Construction
- Others
Regional Analysis
The North American region maintains its dominant position in the global geospatial imagery analytics market, holding a significant
share of 37.1% in 2023, which can be attributed to the presence of large corporations & growing investments in advanced satellite systems. Further, the rapid adoption of technologies like
machine learning, big data, & cloud computing is expected to drive market growth in this region by improving data analysis & utilization.
![Geospatial Imagery Analytics Market Regional Analysis](https://dimensionmarketresearch.com/reportimage/Geospatial-Imagery-Analytics-Market-Regional-Analysis.jpg)
Also, the Asia Pacific region is anticipated to have significant market growth in the coming years, which is primarily driven by the growth in development projects driven by the growing demand for geospatial imagery analytics, mainly for urban planning in emerging economies. In addition, the rising need for location-based services & real-time information, along with the expanding e-commerce sector, is allowing the integration of geospatial imagery analytics systems, majorly for logistics & transportation requirements in the Asia Pacific region.
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The global geospatial imagery analytics market is highly competitive, characterized by many players offering diverse solutions, as key players focus on innovation, technology partnerships, & global expansions to gain a competitive edge. Small & niche players specialize in specific industry verticals, to meet the unique customer needs. The market is dynamic, with constant advancements, strategic collaborations, & product diversification driving competition and growth.
For instance, in July 2023, the global spatial technology provider, Locana, announced its partnership with OpenStreetMap US, an NGO committed to developing the OpenStreetMap (OSM) project. OSM's mission is to enhance access to top-notch geographical data, lessen the expenses associated with location intelligence, & empower a wide range of organizations to harness valuable insights from location data.
Some of the prominent players in the global Geospatial Imagery Analytics Market are:
- Microsoft
- Google
- ESRI
- UrtheCast
- Hexagon AB
- Oracle
- Geocento
- OneView
- Mapidea
- Hydrosat
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Geospatial Imagery Analytics Market:
The COVID-19 pandemic and the following economic recession significantly impacted the global geospatial imagery analytics market. As businesses & governments faced financial constraints & travel restrictions, the need for geospatial data & analytics services fluctuated. While sectors like healthcare & logistics saw increased utilization for pandemic response & supply chain optimization, industries like tourism & retail scaled back. The economic downturn led some cost-conscious organizations to defer or cut back on geospatial projects. However, the pandemic also highlighted the importance of geospatial information in crisis management, accelerating adoption in some areas. The market remains dynamic, with businesses and governments continuously adapting to evolving circumstances & leveraging geospatial analytics for various purposes.
Report Details
Report Characteristics |
Market Size (2023) |
USD 9.1 Bn |
Forecast Value (2032) |
USD 50.5 Bn |
CAGR (2023-2032) |
20.9% |
Historical Data |
2017 - 2022 |
Forecast Data |
2023 - 2032 |
Base Year |
2022 |
Estimate Year |
2023 |
Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
Segments Covered |
By Component (Software and Service), By Type
(Surface & Field Analytics, Network & Location
Analytics, Geovisualization, and Others), By End User
(Environmental Monitoring, Defense & Security,
Energy & Utility, Engineering & Construction, and
Others) |
Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
Prominent Players |
Microsoft, Google, ESRI, UrtheCast, Hexagon AB,
Oracle, Geocento, OneView, Mapidea, Hydrosat, and
Other Key Players |
Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Geospatial Imagery Analytics Market size is estimated to have a value of USD 9.1 billion in
2023 and is expected to reach USD 50.5 billion by the end of 2032.
North America has the largest market share for the Global Geospatial Imagery Analytics Market with a
share of about 41.2% in 2023.
Some of the major key players in the Global Geospatial Imagery Analytics Market are Volvo, ZF, Intel,
and many others.
The market is growing at a CAGR of 20.9 percent over the forecasted period.