Geospatial Imagery Analytics Market size surpassed USD 2 billion in 2018 and is estimated to grow at a CAGR of over 20% from 2021 to 2027.
The geospatial imagery analytics market demand is driven by the increasing demand for GIS services for companies to understand customer preferences to increase sales in target demographics. Companies are using geospatial analytics to improve informed decision making. Government authorities are focusing on improving disaster management by analyzing data collected from satellites and GIS to reduce the impact of natural disasters such as earthquakes, floods and tsunamis. Authorities are investing heavily in satellite technology to capture high-resolution geospatial images and videos to reduce cross-border terrorist activity for national security. The growth of the Geospatial Image Analysis market has been accelerated by the adoption of GIS technology in the transportation and logistics sector. As transportation and logistics companies are looking for cost-effective solutions to optimize their fleet operations, geospatial analysis is helping these companies by providing information related to road conditions and traffic congestion.
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Geospatial Imagery Analytics Market: Key Segments
• The geospatial imagery analytics market is majorly segmenting into type, deployment mode, technology, application and vertical.
• On the basis of type, the market is bifurcated into video analytics and imagery analytics. The imagery analytics is expected to hold the high growth rate in the projected period, with the rising technological growth in the satellite technology. It is helps to enabled satellites to capture high-resolution images.
• On the basis of deployment mode, the market is sub segmented into cloud and on-premises.
• On the basis of technology, the market is divided into Geographical Information Systems (GIS), Global Positioning Systems (GPS) and Remote Sensing.
• On the basis of application, the market is sub segmented disaster management, construction, energy and resource management, surveillance and monitoring and others. The disaster management segment hold the highest share in the projected period. The GIS, as well as the satellite imagery serve as effective tools for the disaster management and also for monitoring of the natural disasters.
• On the basis of vertical, the market is bifurcated into government, defense and security, environment monitoring, engineering and construction, agriculture, healthcare, energy and utilities and other.
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