Geospatial Imagery Analytics Market Growing at a CAGR 32.8% | Key Player Microsoft, Google, Tomtom, Trimble, Maxar Technologies
The geospatial imagery analytics market is projected to grow from USD 9.1 billion in 2021 to USD 37.5 billion by 2026, at a CAGR of 32.8% during the forecast period. The key factors driving the growth of this market include the rise of geospatial imagery analytics technologies and the increasing competition.
Cloud segment to account for higher CAGR during the forecast period
The Geospatial imagery analytics market is bifurcated on the basis of cloud and on-premises. The market size of the cloud deployment mode is estimated to be larger and projected to have a higher CAGR during the forecast period. The cloud-based deployment helps businesses more efficiently process and report data findings, enhance collaboration, and enable decision-makers to get faster access to business intelligence leading to its higher adoption in the Geospatial imagery analytics market.
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SMEs segment to hold a larger market size during the forecast period
The SMEs segment is a faster-growing segment in the Geospatial imagery analytics market during the forecast period as cloud-based solutions and services help them improve business performance and enhance productivity. The adoption of Geospatial imagery analytics software and services among large enterprises is high due to the ever-increasing adoption of the cloud, and the trend is expected to continue during the forecast period.
According to IBM, geospatial imagery analytics is used to add timing and location to traditional types of data and build data visualizations. These visualizations can include maps, graphs, statistics, and cartograms that show historical changes and current shifts. This additional context enables a complete picture of events.
Some of the key players operating in the Geospatial imagery analytics market include Google (US), Microsoft (US), Oracle (US), L3Harris Corporation (US), Hexagon AB (Sweden), ESRI (US), TomTom (Netherlands), Trimble (US), Alteryx (US), RMSI (India), Maxar Technologies (US), Ola (India), Planet Labs (US), Orbital Insight (US), UrtheCast (Canada), Geocento (UK), Sparkgeo (Canada), Mapidea (Portugal), ZillionInfo (US), Geospin (Germany), OneView (Israel), Boston Geospatial (US), SafeGraph (US), Hydrosat (US), GeoVerra (Canada), and Slingshot Aerospace (US). These Geospatial imagery analytics vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global Geospatial imagery analytics market.
RMSI is a global leader in providing geospatial and engineering software solutions for risk, flood, telecom, climate change, utilities, and more. The company’s solutions address global issues, such as climate change, natural calamities, food security, human habitation, autonomous transportation, networks, and smart utilities. It mostly provides solutions across the entire geospatial value chain – from data enhancement to software development, modeling, analytics, and consulting.
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Alteryx is one of the leading data blending and advanced analytics software companies. It provides an end-to-end data science and analytics platform for the enterprise. The company has been expanding its statistical and analytics capabilities, increasing its big data and SaaS connectivity, and delivering a cloud platform for analytics applications called Alteryx Analytics Gallery. Alteryx provides solutions and services to a wide range of industry verticals, including BFSI, healthcare, retail, transportation and logistics, oil and gas, real estate, communication, energy and utilities, education, manufacturing, media and entertainment, travel and hospitality, and public sector.
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