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Geospatial Imagery Analytics Market Trends

ID: MRFR//6231-HCR | 100 Pages | Author: Shubham Munde| July 2024

Geospatial Imagery Analytics Market Overview

Geospatial Imagery Analytics Market Size was valued at USD 20.4 Billion in 2022. The Geospatial Imagery Analytics market industry is projected to grow from USD 22.1 Billion in 2023 to USD 52.7 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 32.1% during the forecast period (2024 - 2032). Increase in the adoption of smart city development, growing use of GPS devices, increasing focus on climate change, and technological advancements in GIS technology boost the market growth during the forecast period.Geospatial Imagery Analytics Market OverviewSource: Secondary Research, Primary Research, MRFR Database and Analyst Review

Geospatial Imagery Analytics Market Trends

Increasing focus on climate change boosts the market growth.

The impacts of climate change are interrelated among industries. Drought can harm human health and food production. Floods can spread dangerous diseases and impact infrastructure and ecosystems heavily. With impact of climate change human can face health issues which results in mortality, diminishing food availability, and decrease worker productivity. However, impacts are unpredictable and can only be analyzed through image data mappings taken through satellites.

In purview of this climate change analytics consulting companies are making special focus on geospatial images to analyze the data in real time manner. Many governments have taken initiatives towards greener economy and started looking for climate change impacts driving the market of geospatial imagery analytics.

Figure 1: Climate Change Market, 2019-2030, USD BnClimate Change Market, 2019-2030, USD BnSource: Secondary Research, Primary Research, MRFR Database and Analyst Review

Geospatial Imagery Analytics Market Segment Insight

Geospatial Imagery Analytics by Analytics Type Insights

Based on analytics type, the geospatial imagery analytics market is segmented into video-based analytics and imagery analytics. The imagery analytics segment has dominated the market with a share of 65.6% in 2022 and is also anticipated to grow at a CAGR of 7.16% through the forecast period. The market for image-based analytics is anticipated to expand rapidly throughout the projection period as a result of advancements in satellite technology that enable satellites to capture high-resolution images. Due to the simplicity with which high-resolution photos can now be acquired thanks to the numerous technological advancements in satellite technology, imaging analytics are used. Hence, due to these advantages, the market would witness more growth opportunities throughout the upcoming years.

On the other hand, due to the increased use of security cameras and drones by businesses to analyze and use video footage to support their daily operations, video-based analytics is predicted to experience substantial development at a CAGR of 9.31% through the forecast period.

Figure 2: Geospatial Imagery Analytics Market, by Analytics Type, 2022 & 2030 (USD Billion)Geospatial Imagery Analytics Market, by Analytics Type, 2022 & 2030Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

This expansion is attributed to an increase in the use of surveillance cameras and drones by businesses to use and analyze video content to support their everyday operations. Additionally, improvements in GNSS and tracking technology are anticipated to fuel market expansion. Utilizing location and geographic information allows advanced visualization and predictive analytics. This is made possible by the use of advanced technologies like AI and machine learning. The expanding use of GNSS and positioning technologies like GPS in the transportation and logistics industry improves operational effectiveness and performance, which further encourages the market for geospatial analytics to embrace GNSS technology.  

February 2023:In order to fulfill the rising need for geospatial goods and solutions that make use of SAR technology ly, Capella Space, a provider of high resolution Synthetic Aperture Radar (SAR) images for a variety of government and commercial applications, has launched its Analytics Partner Program.

February 2023:With their ArcGIS software acting as the top GIS software internationally, Esri has long been among the world's leaders in GIS software, location intelligence, and mapping. The Redlands, California-based company, which has introduced new software to the ArcGIS platform, recognized the trend in the industry towards smarter digital twins using imagery from UAVs, crewed aircraft, and satellites. They announced the debut of their ArcGIS Reality product earlier this month.    

Geospatial Imagery Analytics by Deployment Type Insights

Based on deployment type, the geospatial imagery analytics market is segmented into cloud and on-premises. The cloud segment led this market with a share of more than 60% in 2022. This segment is also predicted to grow at a CAGR of 10.2% through the forecast period. Companies are switching to cloud-based geospatial imagery analytics apps due to the growing complexity of geospatial data storage. The use of cloud GIS is expected to grow as cloud platforms gain prominence. Organizations can handle and map records on the cloud more easily with the help of these solutions because they no longer need to concentrate on updating their infrastructure regularly, which encourages product adoption.

On the other hand, the on-premises segment is also estimated to grow at a CAGR of 7.8% over the forecast period. Companies can install the GIS platform locally on their servers thanks to the on-premises deployment strategy. It also provides improved performance, greater security management, updated software, and personalized security settings. Over the upcoming years, all of these variables are expected to intensify the segment expansion.

Geospatial Imagery Analytics End-User Insights

Based on end-user type, the Geospatial Imagery Analytics market segmentation includes Government, Defense & Security, Engineering & Construction, Mining & Manufacturing, Agriculture, Insurance, Healthcare, Environment Monitoring, Energy, Utility, and Natural Resources, among others. The environment monitoring segment led this market with significant growth at a CAGR of 8.2% through the forecast period. By providing real-time data that may assist decisions and provide actionable insights for the vertical, environment monitoring is predicted to maintain its lead throughout the forecast period. It offers details that can give information pertaining to climate change.

However, the defense and security segment are the second largest segment and predicted to grow at a CAGR of 5.1% through the forecast period. The defense industry in Europe is likewise seeing rapid growth, which has spurred governments to invest in cutting-edge defense technologies. Additionally, the growing Geospatial Imagery Analytics (GIA) market trends will benefit the defense and government sectors in several ways. Additionally, acting right away will aid in catastrophe prevention. The epidemic had a significant impact on the value chain, but once it is under control, the market will finally flourish.

Geospatial Imagery Analytics Regional Insights

By region, this market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The North American region is expected to dominate the market with a CAGR of 5.81% through the forecast period. The market is expanding in this region as a result of increased investments in new or updated satellite systems. The explosion of photography and videography services as a result of the increased usage of drone technology to serve industrial clients in sectors like construction, agriculture, and disaster management is what is driving the market's growth. The rise of the regional market is facilitated by the existence of several industrialized economies, including Canada and the US, as well as the emphasis on innovations brought about by R&D and different technologies.

However, the Asia-Pacific region is expected to grow at the fastest rate, with a CAGR of 10.39% during the forecast period. Urban populations have rapidly increased as a result of the region's expanding economies, including those of India, China, and Indonesia. Due to this expansion, there is a significant demand for smart infrastructure, well-planned urban landscapes, and smart cities. Infrastructural advancements for 5G and the Internet of Things are being led by China, South Korea, and India. The APAC geospatial analytics market is anticipated to develop at the highest CAGR during the projected period as a result of these factors.

Figure 3: Geospatial Imagery Analytics Market, by Region Type, 2022 & 2030 (USD Billion)Geospatial Imagery Analytics Market, by Region Type, 2022 & 2030Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Furthermore, some of the major reasons driving the market expansion through 2032 include rising government agency investments in the creation of new satellite systems and the expanding usage of satellites and aerial-based positioning technologies to support surveying and mapping services.

Geospatial Imagery Analytics Key Market Players & Competitive Insights

Major players in the geospatial imagery analytics market, including Citrix Systems Inc., Toshiba Corporation, DigitalGlobe, Google, Fugro NV, Hexagon AB, Environmental Systems Research Institute, and others, are focusing on developing their business strategies.

The major market players in the geospatial imagery analytics business employ a range of methods. These significant actors employ various strategies, including market research, mergers, the introduction of new products, new businesses, acquisitions, partnerships, and collaborations.

Key Companies in the Geospatial Imagery Analytics market includes

  • Citrix Systems Inc.

  • Toshiba Corporation

  • DigitalGlobe Google

  • Fugro NV

  • Environmental Systems Research Institute

  • Hexagon AB

  • UrtheCast Corporation

  • KeyW Corporation

  • Satellite Imaging Corporation

  • Planet Labs

  • Harris Corporation

  • Orbital Insight

  • GeoSpoc

  • TomTom

  • RMSI

  • Geospin

  • Esri

  • Alteryx

  • Mapidea

  • Geocento

  • Oracle Corporation

  • Maxar Technologies

  • ZillionInfo

  • Sparkgeo

  • Ursa Space Systems

  • Capella Space

Geospatial Imagery Analytics Industry Developments

In September 2023, SkyFi, a prominent provider of Earth observation data, is pleased to introduce a significant advancement in data accessibility through the simultaneous release of two groundbreaking products: open data and SkyFi Insights. SkyFi establishes itself as the global geospatial center with the introduction of open data and SkyFi Insights. Users will no longer face technological difficulties or jargon-laden hurdles when accessing crucial Earth observation information. SkyFi is a user-friendly web and mobile application that enables users to easily access and utilize geospatial knowledge. SkyFi has incorporated Sentinel 2 data into its platform, enabling the provision of free and accessible geospatial data in the field of satellite imaging. This integration promotes cooperation, creativity, and accessibility. SkyFi is the pioneering company that provides exclusive access to unfiltered satellite data via a mobile application, marking a significant milestone in history. By providing daily updated global imagery, users can effortlessly access a vast amount of valuable and free information, thereby removing the conventional obstacles to entrance. SkyFi plans to incorporate other satellite sources in order to further enhance its open data offerings.

In December 2023, the UAE Space Agency initiated the operational phase of the Geo-Spatial Analytics Platform in collaboration with Bayanat. The platform will provide three essential services: enabling access to satellite imagery from international space agencies and top private companies, offering analytics reports generated by Artificial Intelligence (AI)-based algorithms, and hosting a market-place for space applications and AI Space-Based Models. These services will facilitate the attraction of prominent innovators, expedite the development process of space products, and contribute to the expansion of the UAE's economy. The implementation phase of the Geo-Spatial Analytics Platform is a crucial strategic move to enhance the UAE's standing as a prominent participant in the international space sector and promote sustainability. The platform will undoubtedly enhance our comprehension of Earth and climate alterations, as well as foster the advancement of scientific and technological capacities to mitigate these modifications.

Geospatial Imagery Analytics Market Segmentation

Geospatial Imagery Analytics Type Outlook

  • Video-Based Analytics

  • Imagery Analytics

Geospatial Imagery Analytics Deployment Type Outlook

  • Cloud

  • On-Premises

Geospatial Imagery Analytics End-User Type Outlook

  • Government

  • Defense & Security

  • Engineering & Construction

  • Mining & Manufacturing

  • Agriculture

  • Insurance

  • Healthcare

  • Environment Monitoring

  • Energy, Utility, and Natural Resources

  • Others

Geospatial Imagery Analytics Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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