Geospatial imagery refers to the collection of videos or images from the outer or inner surface of the earth. Analysis of geospatial imagery data helps to provides current occurrences, past insights and future predictions related to the surface of earth. Geospatial imagery analytics also helps to predict changing earth’s environment and its impact. The global geospatial imagery analytics market is expected to have a CAGR of 30% during the forecast period 2016-2023. The key factor driving the global geospatial imagery analytics market is commoditization of geospatial imagery data. Convergence and incorporation of geospatial analytics with IT, telecommunication, and the internet is one of the important factors responsible for the increasing application and compliance of geospatial imagery analytics across government and private organization. Commoditization of geospatial data and its increasing demand for safety and security propels the growth of the market. However, high cost of initial deployment and replacement of geospatial imagery analytics are the major challenges faced by global geospatial imagery analytics market.
Geospatial Imagery analytics in organizations help to incorporate analytics with geographic information system for getting real time market intelligence and help in making business strategies. Technological developments in geospatial imagery analytics have increased the adoption of geospatial technologies such as remote sensing, global positioning system, geographical information system, etc. According to geospatial world forum organization, 74% users use mobile location service to get information. Increasing penetration of geographical information system technology in the service industry, increasing usage of location-based data and rising demand of open interoperable solutions, are also major factors enhancing the growth of the geospatial imagery analytics market. Egypt uses detailed geospatial information to help enhance its economy and increase the efficiency of its tax collection. In Spain, government uses geo spatial data to underpin the economic management of its agricultural sector. In Brazil, geospatial information is used to reduce crime rates. Republic of Korea, uses geospatial information to update its cadastral maps and to manage land ownership issues. Geospatial information is increasingly being relied on as a core part of a countries infrastructure.
Source: OBRC Analysis.
The report on global geospatial imagery analytics market includes type, collection medium and verticals.
Type is further segmented into:
- Images
- Videos
Collection medium of geospatial imagery analytics includes:
- Geographic information system
- Satellites
- Unmanned aerial vehicles
- Others
Verticals of geospatial imagery analytics includes:
- Defense & security
- Government
- Environmental monitoring
- Energy, utility & natural resources
- Engineering & construction
- Mining & manufacturing
- insurance
- Agriculture
- Healthcare & life science
- Others
The revenue for the above vertical segments is specific to global geospatial imagery analytics market. Moreover, the revenue for the above vertical segments is specific to global geospatial imagery analytics market. However, the total revenue of these applications in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up collection medium segment.
The global geospatial imagery analytics market report has been geographically segmented in:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America accounted for the highest revenue share in 2016 followed by Europe. North America is the dominating the global geospatial imagery analytics market due to wide technological advancements and increasing concerns for security North America is expected to dominate the geospatial imagery analytics market due to the presence of key market players, such as Digital Globe, UrtheCast Corporation, Trimble Inc., DigitalGlobe, Inc., Harris Corporation, and Satellite Imaging Corporation. With the growing adoption of such technology the US government invested about $8,367,110 in the geospatial industry for the year 2016 Asia Pacific is expected to grow with the highest CAGR in the forecast period. In rural areas, agriculture development sector over the last decades are increasing adoption of geospatial imagery analytics solution and services. Advanced IT infrastructure and government initiatives are expected to drive the adoption of geospatial imagery analytics in Asia Pacific. Increasing adoption of geospatial imagery analytics for defense and homeland security in are the factors driving the growth of geospatial imagery analytics market in APAC.
Global geospatial imagery analytics market report covers segmentation analysis on the basis of type, collection medium and verticals. Report further covers sub segments of type which include images and video.The image segment is expected to hold the largest market share during forecast period 2016-2021. Usage of earth imagery in applications across industry verticals, growing demand of high resolution imagery, and obtain ability of low cost earth imagery sources are expected to help the image analytics segment hold the largest market share during the forecast period. On the basis of collection medium geospatial imagery analytics market is segmented into GIS, satellites, unmanned aerial vehicles and others. Vertical segment is further categorized in to defense & security, government, environmental monitoring, energy, utility & natural resources, engineering & construction, mining & manufacturing, insurance, agriculture, healthcare & life science and others. Geospatial imagery analytics in healthcare & life sciences is anticipated to drive this market segment during the forecast period.
he major market players of the global geospatial imagery analytics market are:
- HEXAGON AB
- DIGITALGLOBE INC.
- URTHECAST CORPORATION
- TRIMBLE INC.
- HARRIS CORPORATION
- GOOGLE INC
- OTHERS
These companies use various strategies such as mergers& acquisition, collaboration, partnership and product launch. Whereas, merger &partnership is the key strategy adopted by the companies in the Geospatial Imagery Analytics market.
For Example: On 18th august 2016, Hexagon geospatial partnered with EGIS associates. EGIS Associates works to address the need of product development and consulting services with geospatial industry. This partnership aims to provide best geospatial solutions to variety of clients including private and public enterprises.
The report covers detailed analysis of companies which comprises of overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in geospatial imagery analytics market.
Key reason to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023
- Report includes detailed analysis of different segments such as type and verticals of geospatial imagery analytics.
- Identify and understand the strengths, opportunities, challenges and threat of the geospatial imagery analytics market.
- Covers details analysis of Porters 5 force model and other strategic models and also covers revenues, market share analysis, and competitive landscape analysis of major players of geospatial imagery analytics market.
- Detailed analysis of the various regulatory policies which affect the global geospatial imagery analytics market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global geospatial imagery analytics market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the geospatial imagery analytics market, with giving extensive SCOT analysis of key companies.
Key findings of the global geospatial imagery analytics market:
- Geospatial imagery analytics is growing across the globe due to convergence and integration of geospatial technology and increased security and safety needs
- North America held highest revenue share in 2016.
- Image segment held the large revenue share in 2016 due to use of earth imagery data adoption in various industry verticals.
- Partnership is the key strategy adopted by players of global geospatial imagery analytics market. For example, Hexagon geospatial partnership with eGIS associates, on 18th august 2016.
- Favorable government regulations and support
- Healthcare & life science segment is the major segment of verticals
- Defense & security segment is fastest growing segment