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Geospatial Imagery Analytics Market Size By Analytics Type (Image-based Analytics, Video-based Analytics), By Deployment Model (On-premise, Cloud), By Collection Medium (Geographic Information System (GIS), Satellite Imagery, UAV), By Application (Agriculture, Construction, Mining, Oil & Gas, Telecom, Government, Transportation & Logistics), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI2841
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

Geospatial Imagery Analytics Market size exceeded USD 6 billion in 2022 and is projected to expand at more than 20% CAGR from 2023 to 2032.
 

Several technological innovations are being introduced in image & video analytics, making it easier for companies to carry out their daily business operations. This is expected to increase demand for geospatial imagery analytics, which leverages time & location information captured by satellites, Unmanned Aerial Vehicle (UAV), and Geographic Information System (GIS) within the conventional data processes. Logistics & transportation companies are thus using location-based technologies on a large scale to enhance their fleet operations, which will further boost the industry progress.
 

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Advancements are also being made in various futuristic technologies, such as Artificial Intelligence (AI) and big data, which may increase the usage of geospatial imagery analytics solutions. Tech experts are intensifying their efforts to improve the analytical capabilities of these technologies. This will help industry players to improve their data-driven decision-making process.
 

However, one of the major factors impeding geospatial imagery analytics market growth is the increasing complexity of geospatial analytics systems. These systems are being integrated with remote sensing and other technologies to analyze the data, making them more complicated in their functioning. As new technologies are being added to enhance the capabilities of geospatial imagery analytics, it might become quite difficult for businesses to combine new applications with legacy ones.
 

Growing usage of video mapping software spurs adoption of video analytics solutions

Geospatial imagery analytics market size from the video analytics segment is estimated to record nearly 25% growth rate through 2032. This growth is credited to the robust adoption of video mapping software for a wide range of mobile inspections and monitoring operations. The software allows users to synchronize the playback of geospatial video files that have been collected simultaneously. This enables users to create seamless video footage, making it easier to identify and inspect suspicious activities, which may improve the usage of geospatial video analytics solutions.
 

Complexities of geospatial data storage triggers switch to cloud-based deployment model

In terms of deployment model, the cloud segment is predicted to observe more than 20% gains till 2032. The rising complexity associated with storing geospatial data is prompting enterprises to switch to cloud-based geospatial imagery analytics applications. With the rising popularity of cloud platforms, the adoption of cloud GIS is set to increase. With these solutions organizations do not need to focus on updating their infrastructure at regular intervals, making it more convenient for them to manage and map records on cloud, fueling product adoption.
 

Growing need for high-resolution & accurate geospatial data to promote UAV adoption

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In terms of collection medium, the UAV segment in the geospatial imagery analytics market is anticipated to exhibit over 25% CAGR through 2032. The strong demand for collecting accurate as well as high-resolution geospatial data is encouraging enterprises to adopt solutions such as UAVs. Drone manufacturers across the world are developing new and high-tech products to cater to the changing needs of defense, mining, agriculture, and construction sectors, further speeding up the production of UAVs.
 

Geospatial imagery analytics gain traction in BFSI and other applications

BFSI and other applications is poised to witness nearly 15% gains through 2032. These analytics solutions are being extensively used in sectors such as BSFI, as they facilitate safe monetary transaction route analysis and assist banks and financial institutions in managing their ATM networks efficiently. Geospatial imagery analytics also helps users in mapping their customer records. By using advanced maps and spatial analytics solutions, banking institutions can gain deeper insights into their relationships with clients to make informed decisions.
 

Launch of space projects supports deployment of geospatial imagery analytics solutions in Europe

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Europe geospatial imagery analytics market is slated to account for over 25% of the revenue share by 2032. Regional governments are introducing a variety of space-related projects and programs, offering financial and infrastructural support to space research organizations for smoother execution of their mission. Europe’s defense sector is also witnessing robust expansion, which has prompted authorities to invest in unique defense technologies. Geospatial analytics solutions are thus being widely used in a variety of defense and intelligence applications to facilitate the transmission of vital information in real time.
 

Product innovation initiatives by key players to strengthen industry outlook

Top companies operating in the geospatial imagery analytics market are Alteryx Inc., AeroVironment, Alphabet Inc. (Google), Autodesk, Inc., BlackSky, TomTom International B.V., Environmental Systems Research Institute, Inc. (ESRI), Fugro NV, General Electric, GeoSpatila Analytics Inc, Harris Corporation, Hexagon AB, Maxar Technologies, Oracle Corporation, Planet Labs PBC., Precision Hawk, Precision Hawk, Satellite Imaging Corporation, SNC-Lavalin Group, and Trimble, Inc., among others.
 

These leaders are focusing on strengthening their market presence through various strategies, including new product innovations. For instance, in October 2022, AcreTrader announced the launch of a new geospatial analytics platform, Acres. The platform provides simple and intuitive analysis of soil and crop information, public owner records, vegetation indexes, water usage, historical satellite imagery, comparable sales, and other areas.
 

COVID-19 impact on the industry trends

The COVID-19 pandemic had a positive influence on the development of geospatial imagery analytics industry as these applications were used by multiple organizations to analyze and interpret their customers’ changing buying patterns to foster their sales. The development of geospatial imagery analytics also witnessed significant development during the crisis. This was attributed to the increasing use of innovative technologies, such as AI and big data, by enterprises to maximize their efficiency and subsequently, propel their revenue margins.
 

The geospatial imagery analytics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:

Market Insights, By Analytics type

  • Image-based analytics
  • Video-based analytics

Market Insights, By Deployment model

  • On-premise
  • Cloud

Market Insights, By Collection medium

  • Geographic Information System (GIS)
  • Satellite imagery
  • UAV
  • Others

Market Insights, By Application

  • Agriculture
  • Construction
  • Mining
  • Oil & Gas
  • Telecommunication
  • Government
  • Transportation & logistics
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • ANZ
    • Southeast Asia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • South Africa
    • UAE
    • Saudi Arabia
    • Israel

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of geospatial imagery analytics crossed USD 6 billion in 2022 and is predicted to record more than 20% gains through 2032, due to the growing usage of location-based technologies in the transport & logistics sector.
The UAV segment is anticipated to exhibit over 25% CAGR through 2032, given the strong demand for collecting accurate as well as high-resolution geospatial data among enterprises operating in different industry verticals.
Europe is projected to held more than 25% of the revenue share by 2032, owing to the introduction of multiple government-sanctioned space-related projects and programs across the region.
Some of the reputed companies operating in the industry include Alteryx Inc., AeroVironment, Alphabet Inc. (Google), Autodesk, Inc., BlackSky, TomTom International B.V., Fugro NV, General Electric, GeoSpatila Analytics Inc, Harris Corporation, Hexagon AB, Oracle Corporation, Precision Hawk, Satellite Imaging Corporation, and Trimble, Inc., among others.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 351
  • Countries covered: 21
  • Pages: 300
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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