The report highlights the growing demand for geospatial imagery analytics services in various sectors, including enterprise, government, transportation, logistics, and mining. The increasing adoption of GIS technology by businesses is attributed to the need for informed decision-making based on customer preferences and targeted demography. The government is also investing heavily in satellite technologies to capture high-resolution images and videos for disaster management and national security purposes. The use of geospatial analytics in transportation and logistics is providing cost-effective solutions for fleet optimization by providing real-time data related to road conditions and traffic congestion.
Moreover, the mining industry is also benefiting from geospatial imagery analytics solutions as it enables target mineral exploration, evaluation of mining conditions, model mine construction, and display of geochemical and hydrological data. The report suggests that the geospatial imagery analytics market is expected to reach USD 30.51 billion by 2026, indicating significant growth in the sector. The demand for safe and secure mining processes is driving the growth of the market, along with the need for informed decision-making and national security concerns.
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Top 10 Companies Operating in the Global Keyword Market:
AeroVironment Inc., Alphabet Inc., Autodesk, Inc., Bentley Systems Inc., Environmental Systems Research Institute, Inc. (ESRI), Fugro N.V., Harris Corporation, HEXAGON AB, , Maxar Technologies Inc., and Oracle Corporation, among others.
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The global market is further segmented into type and application:
Analytics Type Outlook (USD Billion; 2016-2026)
- Imagery Analytics
- Video Analytics
Source Type Outlook (USD Billion; 2016-2026)
- Geographic Information System
- Satellite Imagery
- UAV
- Others
End-Users Outlook (USD Billion; 2016-2026)
- Agriculture
- Construction
- Mining
- Oil Gas
- Telecom
- Government
- Transportation Logistics
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further key findings from the report suggest
- Video Analytics segment is set to experience the highest CAGR of 29.6% during the forecast period. This is owing to the increased utility of videos over images where weather changes and climatic aberrations can be monitored for determining weather conditions.
- Geographic Information System segment had held a market share of 33.9% in the year 2018. Geographic Information System utility uses a system of physical facilities to produce data to customers connected to those facilities throughout a geographical area, which helps in choosing consumers for a market.
- Mining segment is set to experience a CAGR of 28.0% during the forecast period. Geospatial imagery analytics is benefiting mining companies in target mineral research, evaluating mining provisions, model mine construction, and presenting geochemical hydrological data.
- Asia Pacific is forecasted to experience the highest CAGR of 29.0% during the forecast period. Countries like India, China, and Japan are rapidly catching up with the growth in the geospatial imagery analytics market. The increasing use of geospatial imagery data in insurance, agriculture, and engineering and construction businesses of Asia Pacific is fuelling the growth of the market in this region.
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