DUBLIN--(BUSINESS WIRE)--The "Geospatial Imagery Analytics Market by Type (Imagery Analytics, Video Analytics), Collection Medium (Satellites, UAVS, and GIS), Application, Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global geospatial imagery analytics market size is expected to grow from USD 6,941 million in 2020 to USD 27,969 million in 2025, at a Compound Annual Growth Rate (CAGR) of 32.1% during the forecast period.
Major growth factors for the market include the increasing demand for location-based applications and the need to enhance surveillance operations.
Healthcare and life sciences industry vertical to grow at the highest CAGR during the forecast period
Based on industry verticals, the geospatial imagery analytics market is divided into defense and security; government; environmental monitoring; energy, utility, and natural resources; engineering and construction; mining and manufacturing; insurance; agriculture; healthcare and life sciences; and others (education, forensic, space and oceanographic exploration). The key areas that make use of location intelligence in hospitals are patient care and safety, regulatory compliances, and workflow optimization. The clusters of specific type of cancers and location of patients can be identified in different regions using the demographic data by georeferencing and mapping of the given data.
On-premises deployment mode to hold a higher market share during the forecast period
Organizations have been gradually recognizing the importance of geospatial imagery analytics and have started deploying them as per their needs. On-premises geospatial imagery solutions enable organizations and government bodies to handle data compliance, as well as security and regulatory requirements. Deploying these solutions can offer complete control over data, enabling organizations to securely connect its data to the existing data sources owing to the adoption of the on-premises deployment mode. These solutions are installed locally on the servers of the organization that directly host web traffic to the web maps, which are stored locally.
Asia Pacific to grow at the highest CAGR during the forecast period
The growth of the Asia Pacific (APAC) region can be attributed to the focus of countries, such as China, India, and Japan, on the adoption of new technologies and the need for further advancements to leverage these technologies. The increasing number of startups and growing government investments in geospatial technologies in APAC are expected to drive the adoption of geospatial imagery analytics software and services in the region. APAC constitutes major economies, such as China, India, and Japan, which are expected to register high growth in the geospatial imagery analytics market. Verticals such as defense and security, government, and environmental monitoring are expected to rapidly adopt geospatial imagery analytics applications in the region.
Market Dynamics
Drivers
- Use of AI and Big Data to Enhance Geospatial Imagery Analytics Solutions
- Presence of Significant Competition Among Market Players
Restraints
- Stringent Regulations and Legal Issues
Opportunities
- Growing Implementation of 5G Networks and the Increasing Number of IoT Devices
Challenges
- Integration of Geospatial Imagery Analytics Data with Enterprise Solutions
Companies Profiled
- Trimble
- Maxar Technologies
- Harris Corporation
- RMSI
- Hexagon Ab
- Tomtom
- Urthecast
- Microsoft
- Oracle
- Alteryx
- ESRI
- Orbital Insight
- Planet Labs
- Geospoc
- Sparkgeo
- Geocento
- Mapidea
- Geospin
- Zillioninfo
For more information about this report visit https://www.researchandmarkets.com/r/fd24q6
