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(Wireless-NewsWire.Com, January 30, 2020 ) The geospatial imagery analytics market is estimated to be USD 3.41 Billion in 2017 and is projected to reach USD 13.21 Billion by 2022, at a CAGR of 31.1% from 2017 to 2022. This growth can be attributed to significant advancements in the field of geospatial imagery analytics with the introduction of artificial intelligence and Big Data.
The report provides a detailed overview of the competitive landscape, which presents information with respect to the positioning of 25 key vendors of geospatial imagery analytics solutions and services, based on their product offerings and business strategies.
Key players operating in the geospatial imagery analytics market include:
• Hexagon AB (Sweden)
• Harris Corporation (US)
• DigitalGlobe (US)
• Esri (US)
• Google (US)
• Trimble (US)
Europe is estimated to be the largest market for geospatial imagery analytics market in 2017. The growth of the geospatial imagery analytics market in Europe can be attributed to the developed infrastructure for image collection and calibration in this region, which, in turn, provides a favourable environment for the adoption of geospatial imagery analytics technology.
Based on type, the geospatial imagery analytics market has been segmented into imagery analytics and video analytics. The video analytics segment is projected to grow at a higher CAGR as compared to the imagery analytics segment from 2017 to 2022. The growth of the video analytics segment can be attributed to the increasing demand for satellites and drone video surveillance in various industries.
Based on collection medium, the geospatial imagery analytics market has been segmented into Geographic Information Systems (GIS), satellites, Unmanned Aerial Vehicles (UAVs), and others. The UAVs segment is projected to grow at the highest CAGR during the forecast period. The growth of the UAVs segment can be attributed to the increased adoption of UAVs owing to their cost-effectiveness over other collection mediums.
Based on vertical, the healthcare & life sciences segment of the geospatial imagery analytics market is projected to witness the highest growth from 2017 to 2022. This growth is primarily driven by the increasing deployment of geospatial imagery analytics solutions in value-based healthcare services and population health management.
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