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Global Geospatial Imagery Analytics Market Will Reach USD 21,200 Million by 2024: Zion Market Research
By Globenewswire

According to the report, the global geospatial imagery analytics market was valued at around USD 2,640 million in 2016 and it is expected to reach more than USD 21,200 million by 2024. The global geospatial imagery analytics market is expected to grow at a CAGR of around 30% between 2017 and 2024.

New York, NY, May 16, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Geospatial Imagery Analytics Market by Type (Image Analytics and Video Analytics); by Technology (GIS/GPS/GNSS, Remote Sensing, Mobile Mapping/Handheld, and Office & Field Software); for Application (Weather Monitoring, Security & Law Enforcement, Crisis Management, Climate Change Modeling, and Population Forecasting & Management); by Vertical (Defense & Security, Government, Environmental Monitoring, Mining & Manufacturing, Energy & Utility, Construction, Agriculture, Healthcare, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024".

According to the report, the global geospatial imagery analytics market was valued at around USD 2,640 million in 2016 and it is expected to reach more than USD 21,200 million by 2024. The global geospatial imagery analytics market is expected to grow at a CAGR of around 30% between 2017 and 2024.

Browse through 96 Tables & 37 Figures spread over 110 Pages and in-depth TOC on "Global Geospatial Imagery Analytics Market Size 2016: Industry Type, Share, Trends and Forecast, 2024”.

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Market Report Highlights

  • Geospatial analysis is a powerful tool which is widely used to address a number of issues, including climate change modeling, weather monitoring, human population forecasting, and animal population management.
  • Increasing advancement in analytics technologies is the key driving factor for the growth of the market. Rising demand for analyzing unstructured data for better decision making has increased the demand for the analytical tools thus opening opportunities for the geospatial imagery analytics market.
  • The image analytics segment acquired the major market share of around 60% in 2016. However, video analytics segment is expected to grow with highest CAGR of 32% over the forecast period. Increasing demand for video surveillance is anticipated to boost the demand for the video analytics segment.
  • Increasing global warming across the world has created the need for geospatial imagery analytics for evaluating the climate change. The climate change modeling segment is expected to register a CAGR of 31% in 2017-2024.
  • Remote sensing segment is expected to grow with the highest CAGR of 32% in the near future. In remote sensing, sensors are placed on airplanes or satellites. The data is collected in the form of images and video which is then analyzed with the help of the geospatial imagery analytic tools. The tools manipulate, analyze, and visualize the data which helps in making weather forecasts.
  • Geospatial technology has many applications in the energy & utility sectors. Geospatial technology provides transmission and distribution facilities and helps in maintaining the cost of electricity companies.
  • The healthcare industry is making wide utilization of GIS in areas of medical research and epidemiology to deliver better insight into data and analysis. Healthcare segment is expected to grow with highest CAGR of 34% in the near future.
  • Rapid digitalization across all the industries and technological advancements have fueled the growth of the geospatial imagery analytics market. North America region is expected to grow with highest CAGR of 33% over the forecast period.

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As per the analysis, increasing use of geospatial imagery analytics in security & law enforcement in order to identify the areas of criminal incidents and events and provide them with better resources when needed to prevent and apprehend the missions is increasing the demand of the geospatial imagery analytics tools in the security and the law enforcement sector. The segment, security & law enforcement is anticipated to grow at a rapid rate over the forecast years.

Increasing need for the real-time location tracking is the key driving factor for the growth of the geospatial imagery analytics market. Additionally, increasing huge amount of data from global navigation satellite systems, aerial surveys using photographic cameras, satellite remote sensing, digital cameras, radar, and LiDAR are increasing the demand for the geospatial imagery analytics market. 

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By type, image analytics segment held the largest market share of 60% in 2016. Technological advancement has increased the demand for image analytics segment. Rising need for face recognition, barcodes, and QR codes is expected to drive the demand for image analytics segment over the forecast period.

Weather monitoring segment is expected to grow with the highest CAGR of 32% over the forecast period. Increasing demand for accurate weather forecasts for temporal scales and different spatial information has triggered the demand for the segment. In order to better understand the future climatic variations and changes in the environment reliable information is required. Owing to these factors it is anticipated that the weather monitoring segment will register a significant growth in the coming years.

Browse the full report “Geospatial Imagery Analytics Market by Type (Image Analytics and Video Analytics); by Technology (GIS/GPS/GNSS, Remote Sensing, Mobile Mapping/Handheld, and Office & Field Software); for Application (Weather Monitoring, Security & Law Enforcement, Crisis Management, Climate Change Modeling, and Population Forecasting & Management); by Vertical (Defense & Security, Government, Environmental Monitoring, Mining & Manufacturing, Energy & Utility, Construction, Agriculture, Healthcare, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024” report at https://www.zionmarketresearch.com/report/geospatial-imagery-analytics-market

The technology segment is segmented into GIS/GPS/GNSS, remote sensing, mobile mapping/handheld, and office & field software. GIS is a computer-based tool which helps in analyzing the changing conditions of the earth. Geographic information system provides tools for analysis and manages location-based information of a range of statistics such as economic development opportunities, population characteristics, and vegetation. Thus, GIS segment held the largest market share of 33.81% in 2016. 

North America region is anticipated to grow with the highest CAGR of 33% over the forecast period. Geospatial imagery analytics offer benefits to the organizations by providing analyzed data. For the development of the smart cities, there is an increased requirement for exact base maps and utilities which is provided by the geospatial imagery analytics. Growing development rate of smart cities across the North American region is expected to boost the revenue of the geospatial imagery analytics market. 

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The report also covers detailed competitive outlook including company profiles of the key participants operating in the global geospatial imagery analytics market. The key players included in this market are Digitalglobe Inc., Environmental Systems Research Institute, EOS Data Analytics Inc., Fugro N.V., Geocento, Google Inc., and others. 

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The geospatial imagery analytics market has been segmented on the basis of type, technology, application, vertical, and region. 

Global Geospatial Imagery Analytics Market: By Type Segment Analysis

  • Image Analytics
  • Video Analytics

Global Geospatial Imagery Analytics Market: By Application Segment Analysis

  • Weather Monitoring
  • Security & Law Enforcement
  • Crisis Management
  • Climate Change Modeling
  • Population Forecasting & Management

Global Geospatial Imagery Analytics Market: By Technology Segment Analysis 

  • GIS/GPS/GNSS
  • Remote Sensing
  • Mobile Mapping / Handheld
  • Office & Field Software

Global Geospatial Imagery Analytics Market: By Vertical Segment Analysis

  • Defense & Security
  • Government
  • Environmental Monitoring
  • Mining & Manufacturing
  • Energy & Utility
  • Construction
  • Agriculture
  • Healthcare
  • Others

Global Geospatial Imagery Analytics Market: By Region Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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