Geospatial Imagery Analytics Market - Driving Factors, Current Trends and Development Aspect to 2025
Agriculture application in geospatial imagery analytics market is projected to show a growth rate of over 25% in 2025 due to the increase in the adoption of drones and remote sensing technologies to improve farming methods. The geospatial imagery analytics techniques are helping in reducing the effects of poor farming techniques and natural disasters by analyzing geospatial data captured by drones. These techniques ensure the safety of crops and the judicious use of natural resources. The government authorities are focusing on improving the farming techniques with the use of geospatial imagery analytics. For instance, in March 2017, the Punjab state authorities started using services of the Punjab Remote Sensing Center (PRSC) to battle against crop residue burning. The PRSC uses remote sensing, GPS, and GIS to collect geospatial data to check stubble burning.
North America region held maximum share of over 35% in geospatial imagery analytics market in 2018 due to the development of new satellite technologies. The government authorities in the region are focusing on increasing the investments in space research technologies. For instance, in December 2017, the federal government of Canada invested around USD 54 million as a part of its commitment to the International Space Station (ISS) to pave the way for the development of new technologies in space robotics.
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The rising deployments of new satellite navigation systems are also aiding in the development of the geospatial imagery analytics market in the region. For instance, in March 2018, NASA launched the next-generation weather satellites for the National Oceanic and Atmospheric Administration (NOAA). Its Geostationary Operational Environmental Satellite-S (GOES-S) provides more accurate and detailed data to track extreme weather conditions and other hazards that affect the Western U.S.
Geospatial Imagery Analytics market is expected to surpass USD 8 billion over the forecast period due to the increase in the demand for location-based technologies, rising adoption of drones for surveillance, and growing investments in satellite technologies.
The video -based geospatial imagery analytics solutions are expected to grow at a CAGR of over 25% during the forecast period due to the rising adoption of drones and surveillance cameras by businesses to easily analyze and utilize video content to support their daily operations. Geospatial Imagery analytics helps in managing fragmented video data generated from these platforms and enables the analysis of geospatial events. The companies are also offering video recording and analysis systems, which are ideal for capturing videos for mobile mapping surveys, real-time reporting, and post-mission mapping. Such GPS-enabled video recording systems collect geo-referenced videos and support commercial survey, critical inspection, and surveillance projects.
The government authorities are focusing on the efficient use of geospatial imagery analytics to improve their disaster management to reduce the hazards occurring due to floods, earthquakes, and tsunamis. The adoption of geospatial imagery analytics by defense & intelligence agencies to identify & reduce cross-broader terrorist activities is another factor contributing significantly to geospatial imagery analytics market growth.
Drone manufacturers are developing new drones and aircraft to cater to the needs of customers in diverse industry verticals such as defense, mining, agriculture, and construction. For instance, in May 2017, QuestUAV launched DATAhawkAG all-round package for precision agriculture mapping. This new solution equipped with MicaSense RedEdge camera, the Q-100 DATAhawkAG helped to cover hundreds of hectares in a single flight and capture images in five discrete spectral bands that are designed to detect patterns correlated to plant stress and nutrient content.
UAV collection medium for geospatial imagery analytics market is expected to grow at a CAGR of over 25% during the forecast period due to the rise in the demand for timely, accurate, and high-resolution data for mapping & surveying purposes. The reduction in the cost required to fabricate UAVs and advancements in sensor technologies is enabling growing adoption of UAV platforms for aerial imaging applications. UAVs help in the collection of geospatial data in extreme harsh environment conditions in mines and oil & gas fields.
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On-premise geospatial imagery analytics solutions held the maximum market share in 2018 as organizations are deploying such platforms on their servers to store their content locally. The local storage helps organizations to have full control over their existing geodatabases and perform spatial analysis to identify new patterns, trends, and anomalies in the data. Organizations are using desktop-based GIS software to improve their decision-making capabilities with streamlined processing of spatial data. The companies present in the market are offering GIS software, which the enterprises can deploy on-premise. Some of the popular Desktop GIS software systems available in the market are ArcGIS, QGIS, ArcMap, and MapInfo Professional.
The complexities associated with the storage and maintenance of location-based data have enabled the growing adoption of cloud-based geospatial imagery analytics solutions across businesses. The integration of the cloud technology with geospatial applications has created a whole new architecture and scale for geospatial capabilities. This architecture fully leverages cloud storage and elastic computing capabilities to enable extensive sharing & integration of geospatial imagery data. Business organizations are using cloud-based software solutions to improve their functionality in many segments. For instance, in November 2017, Microsoft launched Azure location-based services to offer enterprise customers location capabilities. This new solution helped Microsoft's enterprise customers in making choices for using location data to solve issues such as asset location tracking, traffic congestion, and fleet management.
The companies operating in geospatial imagery analytics market are focusing on strategic acquisitions to enhance their geospatial capabilities. For instance, in February 2018, ESRI acquired ClearTerra Technology to integrate the location data extraction technology into its ArcGIS platform. This acquisition enabled the company to support unstructured data on the ArcGIS platform as it expands beyond public safety applications to include verticals such as utilities and energy. The companies operating in geospatial imagery analytics are also emphasizing on the development of new geospatial imagery analytics solution to match the changing demands of their customers. For instance, in May 2018, the company introduced the latest upgrade for its MapInfo Pro solution as MapInfo Pro version 17. This new release helped the company in matching the growing needs of businesses and government analysts.
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Rahul Varpe
Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid...