Global Penetration: Key instances of the Covid-19 impact on the Geospatial Imagery Analytics Market
Pune, Maharashtra,India, November 9 2020 (Wiredrelease) Origius Systems Private Limited –:The emergence of the COVID-19 outbreak has positively impacted the growth of the geospatial imagery analytics market. The sustainability of this market is mainly driven by the extensively increasing adoption of GIS services by businesses to understand customer behavior and to increase their sales. Furthermore, the majority of governmental bodies are concentrating on the improvisation of disaster management by analyzing the data gathered by GIS for minimizing the impacts of natural calamities such as cyclones, earthquakes, and floods. Though the industries across the globe, are shut down to reduce the effect of the outbreak, the geospatial imagery analytics market is significantly growing. This is majorly because of the integration of tools such as big data and AI can foster the geospatial imagery analytics solutions growth in the pandemic. Furthermore, due to the chaotic situation of the COVID-19 outbreak, businesses are concerned with customer loyalty and optimism, confidence, and trust. Thus, the majority of ventures can go for the adoption of geospatial imagery analytics for finding ways to help clients through this severe situation; and this will positively impact the global market, after the pandemic situation.
According to the recent publication of Research Dive, the global geospatial imagery analytics market is set to register a revenue of $11,932.5 million by 2027, at a 23.4% CAGR, over the projected period.
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The segmentation of the market has been done on the basis of analytics type, deployment modell, collection medium, application, and region. The report offers detailed information on vital segments, drivers, restraints, lucrative opportunities, and global leaders of the market.
Factors Affecting the Growth
As per our analyst estimates, the key role of artificial intelligence(AI) in geospatial imagery analytics propelling the growth of the global geospatial imagery analytics market. However, the legal issues and stringent government policies are expected to restrain the growth of the global geospatial imagery analytics industry, over the forecast period.
Image-Based Analytics shall have a Dominating Market Share During the analysis Period
Based on the analytics type, the global market for geospatial imagery analytics is categorized into image based analytics and video based analytics. The image based analytics market valued at $9,068.7 million in revenue in 2027 and is expected to rise at 22.8% CAGR. The growth of the image based segment is because it is highly utilized to find the geographic pattern in the data and visualize them in the map for the analysis of future risk.
The cloud-based deployment will be the Most Lucrative
Based on the deployment model, the global market is fragmented into on-premise, cloud. The cloud-based deployment will register a revenue of $5,727.6 million in 2027 and is expected to grow at 27.4% CAGR. However, The on-premise deployment model shall generate a revenue of $6,204.9 million in 2027 and is projected to increase at a CAGR of 20.4%.
The UAV (unmanned aerial vehicles) will have Rapid Market Growth, during the Forecast Period
Depending on the collection medium, the global geospatial imagery analytics market is broadly categorized into the geographic information system, satellite imagery, unmanned aerial vehicles, others. The market size for the Unmanned Aerial Vehicles was $412.2 million in 2019 and is expected to increase at a CAGR of 26.5% by 2027. The ventures across the world are utilizing majorly drones for collecting accurate, timely, and high-resolution data for surveying and mapping purposes.
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Agriculture sector shall have a Major Market Share in the Forecast Period
on the basis of application, the global macrket for geospatial imagery analytics is broadly categorized into agriculture, construction, mining, oil& gas, telecom, government, transportation & logistics, and, others. The agriculture sector will held significant market share and is projected to register a revenue of $549.6 million, in the forecast period at a 23.9% CAGR. The increasing adoption of remote sensing platforms and highly-advanced drones and to enhance the farming techniques by analyzing geospatial data is one of the major factors for the growth of the global market.
Geographical Analysis and Major Market Players
Based on the region, the geospatial imagery analytics market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific geospatial imagery analytics market valued at $3,126.3 million in 2027 and is expected to increase at a CAGR of 24.1% over the forecast timeframe. The extensively rising government investments in geospatial imagery solutions and the growing number of startups, particularly in India, China, and Japan, are expected to foster the growth of Asia-Pacific geospatial imagery analytics in the global market.
The leading players of the global geospatial imagery analytics market are Trimble Inc., Maxar Technologies, L3Harris Technologies, Inc., RMSI, HEXAGON, Microsoft, UrtheCast, TomTom International BV., Oracle and ALTERYX, INC.
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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