Geospatial imagery analytics are used for various applications such as agriculture, defense and security, mining and manufacturing, healthcare, and insurance.
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Geospatial Imagery Analytics Market – A Global and Regional Analysis.
According to this study, the market size of global geospatial imagery analytics was valued at $24.25 billion in 2021 and is projected to reach $32.78 billion by 2032.
The following factors are responsible for the increase in demand for geospatial imagery analytics:
- Increasing need for data-driven decision making
- Increasing threat perception related to natural disasters (impact of climate change)
The detailed study is a compilation of 75 market data tables and 17 figures spread through 164 pages.
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Analyst’s Take on the Market Projection
According to Arunkumar Sampathkumar, Principal Analyst, BIS Research, “The rising demand for geospatial imagery analytical services across multiple industries such as environmental monitoring, agriculture, energy, defense, business intelligence, finance, construction and infrastructure, and oil and gas will drive business opportunities for the key players in the geospatial imagery analytics market. Hence, the market is expected to grow significantly during the forecast period 2022-2032.”
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Existing Competitive Landscape
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are
- BlackSky Technology Inc.
- Capella Space
- Descartes Labs, Inc. (Antarctica Capital, LLC)
- EagleView Technologies, Inc.
- Esri
- GHGSat Inc.
- KSAT
- L3Harris Technologies, Inc.
- Maxar Technologies Inc.
- MDA Ltd.
- Planet Labs PBC
- Satellogic
- Spire Global, Inc.
- TomTom N.V.
- VETRO, Inc.and more.
Recent Developments in the Global Geospatial Imagery Analytics Market
- In September 2022, Satellogic signed a three-year agreement with the Government of Albania to build a dedicated constellation. The company’s high-quality imagery will resolve Albania’s significant issues, such as illegal construction, illegal crops, traffic management, wildlife monitoring, and border security.
- In September 2022, TomTom N.V. signed a partnership with Hyundai Motor Group (HMG) to provide its maps and real-time traffic data. HMG will use TomTom’s high-quality maps for its entire Europe vehicle lineup.
- In August 2022, Esri signed a renewed partnership with the National Technical Information Service (NTIS) of the US Department of Commerce. As per this partnership, NTIS would be able to access geospatial data in order to analyze and support government agencies in enhanced decision-making capabilities.
- In August 2022, BlackSky Technology Inc. received a contract from NASA to evaluate the quality of the company’s imaging data services for the Commercial Smallsat Data Acquisition (CSDA) Program. The company would provide its dawn-to-dusk imagery data for NASA’s Earth science mission.
Analytics to be the Leading Solution Segment for the Geospatial Imagery Analytics Market
The global geospatial customer base is adopting advanced street maps, satellite imagery, and route planners to gain location intelligence and identify the area of choice. Such intelligence merges the capabilities of geospatial technologies, data analytics, and artificial intelligence to visualize geographical patterns, routes, and spatial trends to plan, map, and optimize the positional dimension of geospatial data.
The global geospatial imagery analytics market by solution includes imagery delivery platform, analytics, data processing, and data acquisition. Out of these, the analytics solution is expected to dominate the market with a share of 42.60% in 2032.
Following the analytics solution, it will be the integrated delivery platform segment that is anticipated to emerge as the second dominant segment in the solution segment by 2032, growing at the CAGR of 2.86% during the forecast period 2022-2032.
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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