Global Geospatial Imagery Analytics Market size was valued US$ 7.13 Bn. in 2020, expected to grow at a CAGR of 31.23% over 2021-2027, and it is expected to reach US$ 47.79 Bn. in 2027.
Geospatial Imagery Analytics Market Overview:
The Global Geospatial Imagery Analytics Market Image and video data of the world are provided via geospatial imaging analytics. Companies from a variety of industries utilise the data to develop contingency plans and forecast future hazards. Climate analysis, disaster response management, and urban planning are some of the most common applications of geospatial imaging analytics.
According to the report, nearly 80% of businesses have access to location data. By being able to pinpoint clients on a map, they can assist with geospatial analytics for business intelligence. Businesses can use zip code and address data to see where players are in relation to customers and decide where to open a store.
Historical Forecast Period:
Maximize Market Research report presents the analysis of each segment from 2021 to 2027 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2020to 2027.
Geospatial Imagery Analytics Market Overview and Dynamics:
The report covers comprehensive data on market drivers, restraints, emerging trends, and growth opportunities that can change the market dynamics of the end use industry. It provides an in-depth analysis of the Geospatial Imagery Analytics Market segments which include products, applications, and competitor analysis.
Looking ahead, the global geospatial imagery analytics market is expected to reach US$ 47.79 billion by 2027, rising at a CAGR of roughly 31.23 percent between 2021 and 2027. The MMR report's scope includes a full analysis of worldwide and regional markets for geospatial imagery analytics, as well as the reasons for differences in the industry's growth in different countries.
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Segmentation:
Agriculture is expected to have the greatest CAGR of 32 percent between 2021 and 2027. The increased adoption of drones and remote sensing platforms to improve farming operations by analysing geospatial data is one of the primary drivers driving this segment's rise.
The government is pursuing new ventures to improve farming processes through the use of remote sensing applications. In March 2017, for example, Punjab state authorities began using the PRSC's (Punjab Remote Sensing Centre) services to combat agricultural residue burning.
In 2020, the imaging analytics segment was estimated to be worth US$ Bn. Companies are increasingly using drones and surveillance cameras to use and evaluate video material to support their daily operations, which is driving this increase. During the projection period, the Unmanned Aerial Vehicles (UAVs) segment is predicted to grow at the fastest rate of 33 percent. This increase can be ascribed to the increased use of drones for surveying. Unmanned Aerial Vehicles (UAVs) are becoming more popular for extracting geospatial data as the cost of the hardware necessary to build them falls and sensor technology advances.
Key Players:
Regional Analysis:
Regional analysis is another highly comprehensive part of the research and analysis study of the Geospatial Imagery Analytics Market presented in the MMR report. Local development plans are often affected by the performance of Geospatial Imagery Analytics market. Our report briefly explains all the factors, market size, growth rate, import and export in regions covering North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This research has provided market trends, key opportunities, factors affecting of particular regions, to examine the global and domestic Geospatial Imagery Analytics market and these findings have been strategically presented in the report.
Competition Landscape:
Most of the key players present in the Geospatial Imagery Analytics Market are focusing on mergers and acquisitions to expand their geographic presence and gain a competitive edge. Meanwhile, some of the other players are updating their existing product portfolios and adding innovative screens to keep up with the high consumer demand and generate more sales.
Key questions answered in Geospatial Imagery Analytics Market report
- What was the market size of Geospatial Imagery Analytics Market in 2020 and forecast up to 2027?
- Which is the largest regional Geospatial Imagery Analytics Market?
- What are the major trends followed in Geospatial Imagery Analytics Market across different regions?
- Who is the key Geospatial Imagery Analytics Market companies leading the market?
- What are the key strategies adopted by the leading Geospatial Imagery Analytics Market companies in market?
- Unique data points of this report
- Statistics on Geospatial Imagery Analytics Market penetration and spending worldwide
- Recent trends across different regions in terms of adoption of Geospatial Imagery Analytics Market for various end-use.
- Notable developments going on in Geospatial Imagery Analytics Market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2020 (actual) and 2027 (forecast)
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