Geospatial Imagery Analytics Market to Surpass 72.84 Billion by 2030 Drives Due to Ongoing Expansion of 5G Networks
SkyQuest projects that the geospatial imagery analytics market will attain a value of USD 72.84 billion by 2030, with a CAGR of 26.0% over the forecast period (2023-2030). Two pivotal factors further amplify the growth prospects of the geospatial imagery analytics market. The ongoing expansion of 5G networks plays a significant role in bolstering the market’s potential.
Westford, USA, Jan. 18, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, the global geospatial imagery analytics market is experiencing robust growth driven by several key factors. The significant driver is the utilization of big data and artificial intelligence (AI) in developing geospatial image analytic solutions. These technologies empower businesses and organizations to extract valuable insights from vast volumes of geospatial imagery, enhancing decision-making processes across various sectors.
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- Pages – 157
- Tables – 125
- Figures – 77
The increasing adoption of location-based services is fueling a substantial demand for geospatial imagery analytics market across diverse industries. Sectors such as agriculture, defense, and urban planning are at the forefront of leveraging these technologies to gain a competitive edge.
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Prominent Players in Geospatial Imagery Analytics Market
- DigitalGlobe, Inc.
- Airbus Defense and Space
- UrtheCast Corp.
- Harris Corporation
- Google LLC
- Trimble Inc.
- Maxar Technologies Inc.
- Hexagon AB
- ESRI Inc.
- Planet Labs Inc.
- TomTom N.V.
- Geospatial Intelligence Pty Ltd
- Geosys Technology Solutions Inc.
- Fugro N.V.
- Oracle Corporation
- Earth-i Ltd.
- Satellogic S.A.
- Satellite Imaging Corporation
- The Sanborn Map Company, Inc.
- GeoSpoc Pte Ltd
On-Premises Segment is Expected to Grow the Market Due to the Enduring Demand for On-Premises Deployment Stems
On-premises segment is projected to exhibit a steady growth rate with a CAGR of 7.8% throughout the forecast period in the geospatial imagery analytics market. This enduring demand for on-premises deployment stems from the advantages it offers businesses.
The market in North America region is poised to assert its dominance in the geospatial imagery analytics market, expected to exhibit a robust CAGR of 5.81% over the forecast period. This forecast underscores North America’s pivotal role in the global geospatial imaging analytics arena.
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Cloud Segment is Expected to Dominate the Market Due to Growing Influence of Cloud-Based Solutions
Cloud segment is anticipated to dominate the market, accounting for over 60% of the geospatial imagery analytics market share during the forecast period. This dominance is underpinned by a projected CAGR of 10.2%, signifying the growing influence of cloud-based solutions in geospatial imaging analytics.
Regional markets in the Asia-Pacific region are poised to experience the most rapid growth throughout the forecast period, boasting a noteworthy CAGR of 10.39%. This projection underscores the dynamic and evolving landscape of the geospatial imagery analytics market.
A comprehensive analysis of the major players in the geospatial imagery analytics market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Geospatial Imagery Analytics Market
- Maxar Technologies Inc. recently made a significant stride in the geospatial industry by unveiling its WorldView Legion satellites. These satellites represent a remarkable advancement, promising to deliver high-resolution imagery while substantially augmenting the company’s capabilities for collecting and processing geospatial data. This development greatly enhances Maxar’s position as a critical player in geospatial imaging analytics, offering a wealth of data and insights to various sectors and industries.
- Maxar Technologies subsidiary, Digital Globe, recently introduced a cutting-edge geospatial analytics platform named GBDX Notebooks. This innovative platform empowers users to conduct advanced analytics on geospatial data by harnessing the power of cloud-based computing.
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Key Questions Answered in Geospatial Imagery Analytics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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