Geospatial Imagery Analytics Market Size, Share, Opportunities, And Trends By Analytics Type (Image-based Analytics, Video-based Analytics), By Deployment Model (On-premises, Cloud), By Collection Medium (Geographic Information System (GIS), Satellite Imagery, UAV), By Application (Agriculture, Construction, Mining, Oil & Gas, Telecom, Government, Transportation & Logistics, Others), And By Geography - Forecasts From 2023 To 2028

The geospatial imagery analytics market is anticipated to grow at a high CAGR over the forecast period.

Rising disposable incomes and developments in analytics technology are driving the worldwide geospatial imaging analytics industry. Another important factor driving market growth is the increasing need for geospatial imaging analytics for national security and safety. The need for geospatial data in the mining, manufacturing, engineering, and construction sectors is expected to drive the global growth of the Geospatial imagery analytics market. Furthermore, technical breakthroughs in this field have increased the use of geospatial technologies such as remote sensing (R.S.), a global positioning system (GPS), and geographical information systems (GIS), leading to market expansion.

Introduction:

Geospatial imagery analytics is the practice of examining satellite or aerial images to get important insights and intelligence. It entails extracting geographical information from these photos, such as location, topographical features, land cover, and items of interest, utilizing advanced technologies such as computer vision, remote sensing, and machine learning algorithms. Geospatial imaging analytics is used in a variety of industries, including agriculture, urban planning, environmental monitoring, military and security, and transportation. The Geospatial imagery analytics market is expected to increase significantly in the coming years, owing to rising demand for precise and real-time geographical insights across a wide range of sectors. The systematic examination of satellite or aerial photographs utilizing cutting-edge technology such as computer vision, remote sensing, and machine learning algorithms is part of this developing discipline. Agriculture, urban planning, environmental monitoring, military and security, and transportation are among the industries that are increasingly relying on geospatial imagery analytics to extract valuable information ranging from location and topographical features to land cover and specific objects of interest. The market's rise is aided further by technological improvements, which enable more precise and efficient data extraction, interpretation, and decision-making. As organizations increasingly appreciate the strategic value of geospatial information, the industry is likely to see a healthy trajectory, creating unprecedented prospects for innovation and growth.

Drivers:

• Advancements in satellite technology are a prime market driver: Continuous advancements in satellite technology have resulted in the availability of high-resolution images, allowing for more thorough and precise geospatial analysis. The improved capabilities of satellites contribute considerably to the increased need for geospatial imaging analytics.
• The growing demand for location-based services is fueling the market growth: A primary driver is the expanding usage of location-based services in numerous industries such as agriculture, urban planning, transportation, and defence. Geospatial imaging analytics may help these industries optimize operations, improve decision-making, and increase overall efficiency.
• The rising need and trend of environmental monitoring is aiding in the market growth: With rising environmental concerns, there is a greater need for geospatial imaging analytics in applications such as monitoring deforestation, tracking climate change, and evaluating natural resource management. This is critical for long-term development and conservation initiatives and this technology provides all necessary tools for effective monitoring and hence is widely used.
• The various initiatives and regulations by governments across the world a propelling the market demand: Geospatial data is becoming increasingly important to governments throughout the world for improved governance, infrastructure development, and disaster management. Policies, investments, and laws that encourage the use of geospatial imaging analytics are propelling industry expansion.
• Recent technological advancements in remote sensing are a major market proponent: Continuous improvements in remote sensing technology, such as unmanned aerial vehicles (UAVs) and other aerial platforms, contribute to data source diversity. This results in more comprehensive and real-time geographic information, which fuels industry expansion.
• The advent of 5G technology has also created favourable market dynamics: The deployment of 5G technology improves data transfer speed and capacity, allowing for more efficient processing and analysis of huge geographical information. This allows for faster decision-making and more applications for geospatial imaging analytics.

Products offered by key companies:

• Land Cover Map, Hexagon AB: The land cover maps show several forms of land surface covering in metropolitan areas, allowing consumers to collect spatial data and track landscape changes over time. Roofs, cars, plants, grassland, and impermeable surfaces are among the more than 20 subject classifications they provide. The information is useful for urban planning, ecological modelling and analysis, heat mapping, and radio-frequency engineering.
• Maritime Situational Awareness, Satellogic: Satellogic provides actionable intelligence to meet national security objectives in the marine area while conserving resources. Their high-resolution, high-frequency imaging and full-motion video capabilities enable maritime surveillance and security organizations to detect and deter criminal behaviour at sea, such as illegal fishing, human trafficking, and unlawful transhipment.

Prominent growth is projected in the image-based analytics sector under the analytics type segment

The geospatial imagery analytics market is expected to develop significantly over the next several years, with image-based analytics emerging as a key category. Satellite technological improvements have ushered in an era of high-resolution pictures, allowing for thorough capture of image-based geographic data in both raster and vector forms, including lines, points, and tabular graphics. These detailed pictures are excellent geographic research and modelling tools, giving a lot of information for a variety of applications. As satellite capabilities advance, the demand for advanced imaging analytics is projected to skyrocket. These systems' capacity to acquire and interpret precise pictures enables a variety of applications, including urban planning, environmental monitoring, and disaster response. The geospatial data analytics market is thus expected to grow significantly, owing to image-based analytics' critical role in leveraging the wealth of information contained in high-resolution satellite data for informed decision-making and strategic planning.

The North American region is expected to hold a significant share of the geospatial imagery analytics market:

The North American region is expected to establish itself as a market leader in the geospatial imagery analytics market over the forecast period, owing to a dynamic and fast-expanding landscape. With an increasing need for location-based insights across several industries, the United States and Canada have been early adopters of geospatial imaging analytics to supplement decision-making processes and preserve a competitive advantage. The region is a technical innovation hotspot, with a well-established infrastructure for collecting and analyzing geospatial data. Furthermore, key market competitors are constantly improving their offers and increasing services to meet the growing demands of both enterprises and government bodies.

Key developments:

• onX, a digital navigation company collaborated with Planet Labs PBC, a satellite imagery supplier, to provide a new 'Recent Imagery' function in October 2023. This feature provides updated satellite imagery maps to onX app users every two weeks, boosting the user experience across the onX Hunt, onX Offroad, and onX Backcountry applications. This regular data update provides outdoor lovers with real-time information that allows them to engage in safer and more educated outside activities.
• Quant Data & Analytics, a supplier of data products and enterprise solutions for real estate and retail, partnered with Satellogic Inc. in August 2023 to use high-resolution satellite images from Satellogic to improve property technologies in Saudi Arabia and the Gulf area.

Segmentation:

• By Analytics Type:
  • Image-based Analytics
  • Video-based Analytics
• By Deployment Model:
  • On-premises
  • Cloud
• By Collection Medium:
  • Geographic Information System (GIS)
  • Satellite Imagery
  • UAV
• By Application:
  • Agriculture
  • Construction
  • Mining
  • Oil & Gas
  • Telecom
  • Government
  • Transportation & Logistics
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others