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(IT-NEWSWIRE.COM, October 08, 2020 ) The global geospatial imagery analytics market size is expected to grow from USD 6.9 billion in 2020 to USD 27.9 billion in 2025, at a Compound Annual Growth Rate (CAGR) of 32.1% during the forecast period. The key factors driving the geospatial imagery analytics market include the increasing adoption of location-based technologies and the need to understand the changing environment for sustainable development. The different applications of geospatial imagery analytics market include disaster management, construction and development, exhibition and live entertainment, energy and resource management, surveillance and monitoring, conservation and research and other applications, such as population forecasting and management, weather monitoring, and climate change modeling.
The defense and security industry vertical has been a competitive industry vertical that focuses on geospatial applications for border security operations. Using geospatial imagery analytics applications in the defense and security industry vertical is important for analyzing the shifting patterns in the war zone and support field operations through monitoring, predicting, and countering threats. It helps provide real-time views and insights of the impacted regions to improve the emergency response time in areas, such as country borders.
The geospatial imagery analytics industry comprises major solution providers, such as Google (US), Trimble (US), Maxar Technologies (US), Harris Corporation (US), RMSI (India), Hexagon (Sweden), TomTom (Netherlands), UrtheCast (Canada), Microsoft (US), Oracle (US), Alteryx (US), Esri (US), Orbital Insight (US), Planet Labs (US), GeoSpoc (India), Sparkgeo (Canada), Geocento (Oxfordshire), Mapidea (Portugal), Geospin (Germany), ZillionInfo (US).
North America is expected to account for the largest market size in the geospatial imagery analytics market by region during the forecast period. The region houses several key vendors, such as Google, Trimble, Maxar Technologies, Orbital Insight, Esri, and Planet Labs. Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period with the increasing number of startups and growing government investments. APAC constitutes major economies, such as China, India, and Japan, which are expected to register high growth in the geospatial imagery analytics market.
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