Geospatial Imagery Analytics Market is projected to grow with a 7.05% CAGR during the Forecast Period 2022-2030

Market Research Future published a Half-Cooked Research Report on the global geospatial imagery analytics market.

Regional Analysis

The market for geospatial imagery analytics is estimated to grow at a significant rate during the forecast period from 2023 to 2030. The Geospatial Imagery Analytics market industry is projected to grow from USD 22.1 Billion in 2023 to USD 35.6 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.05% during the forecast period (2023 - 2030). The geographic analysis of geospatial imagery analytics market has been studied for North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, Singapore, Australia, South Korea, and the rest of Asia-Pacific), and the rest of the world (including the Middle East & Africa, and South America).

Europe was leading the geospatial imagery analytics market in 2023. Europe has well-developed advanced infrastructure support for space & satellite applications. Government support for military and defense security & surveillance applications, and development of internet and communication platforms among others are some prime factors for the growth of geospatial imagery analytics market in this region. Europe is the central hub of the US and Canada for monitoring and operating satellite applications. Further, high technical and research expertise of European nations such as France and Russia in aerial, space & satellite subjects is expected to fuel the market growth in the coming years.

North America held the second largest share of the global geospatial imagery analytics market in 2018. The US dominated the market, followed by Canada. Development in AI and connected technologies developed security infrastructure of law enforcement agencies, and the defense sector are the prime factors driving the market in the region.

Asia-Pacific is projected to grow with the highest CAGR. China accounted for the highest market share of the Asia-Pacific geospatial imagery analytics market in 2023 due to its high focus on developing smart cities in the country. The increasing usage of drones and satellites for transportation and weather analytics is also one of the major driving factors fueling the market of geospatial imagery analytics in China. Whereas, India is expected to be the fastest growing market in geospatial imagery analytics in the coming years.

Key Players:

MRFR has considered Hexagon AB, Harris Corporation, DigitalGlobe, Environmental Systems Research Institute, Google, Trimble, RMSI, Planet Labs, UrtheCast Corporation, Fugro NV, KeyW Corporation, and Satellite Imaging Corporation as some of the key players in geospatial imagery analytics market.