The global geospatial imagery analytics market was valued at $2,290.0 million in 2019 and is anticipated to surpass $11,932.5 million by 2027, at a CAGR of 23.4%. Geospatial analytics integrates, collects, manipulates, and displays geographic information system (GIS) data and imagery including satellite photographs and global positioning system (GPS).
Geospatial imagery analytics is crucial to many geospatial projects as it has the ability to provide users with significant information such as area disturbance over time or change detection. The growth of the global market is mainly driven by the adoption of geospatial imagery analytics solutions, which is mainly because of the growing emphasis on improving construction planning using locational information. In 2020, the global market is projected to experience growth, unlike certain other industries due to the lockdown as a measure to contain the COVID-19 pandemic.
|Realtime BPS||*Estimated market Size, 2020,
|**Real Time market Size, 2020,
|20.1%||23.4%||328||USD 3,279.2 Million||USD 3,479.6 Million|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
The extensively increased usage of geospatial AI (artificial intelligence) to improve business efficiency in developed, as well as developing countries, is playing a considerable part in the growth of the geospatial imagery analytics market. The risen availability of geospatial data from remote sensing and satellites, the advancement of artificial intelligence significantly in machine learning, and the availability of massive computational power are massively impacting the growth of the global geospatial imagery analytics market. In addition, geospatial imagery analytics has huge significance in national labs, weather centers, agriculture, healthcare, defense agencies, transportation, insurance, and many more.
Moreover, geospatial AI analytics (GeoAI) has massive opportunities and applications in healthcare as location plays a significant role in both population and individual health. GeoAI provides meaningful insights regarding epidemiology, social and behavioral sciences, genetics and epigenetics, and infectious diseases to public health sectors, and IoT powered smart health cities. In addition, GeoAI is collated with rich sources, such as satellite imagery, social media streams, IoT sensors in smart cities, and personal sensing; thus this system can provide detailed information regarding important research and practice in more comprehensive ways.
In the last quarter of 2019, the COVID-19 pandemic has created an unprecedented global health situation. Majority of the economies across the world have implemented a complete industrial shutdown in order to combat the communal transmission of coronavirus. This lockdown has led to a considerable downfall in business operations. Though multiple businesses across countries are experiencing a decline, the global geospatial imagery analytics market will witness a significant impact during this COVID-19 outbreak. The communal spread of coronavirus is place-based; i.e. this virus emerges and clusters in certain places and is transmitted along particular pathways. Thus, geospatial data can be significantly used as a crucial tool to create infectious disease modeling.
In addition, as per the study of a researcher at the Institute for Disease Modeling, Seattle, high-quality geospatial data enables statistical models to provide risk factors, setting-specific characterization of disease transmission, and forecasts of pathogen and viral prevalence. These elements may lead to drive the demand for geospatial imagery technologies, which can eventually boost the growth of the global market, during the forecast period. Furthermore, the majority of governments across the world are utilizing geospatial imagery analytics as it is highly proactive in providing real-time information of COVID-19, tracking the spread of the coronavirus, and accurate and constant updation of the infected patient.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
As per the recent publication of Research Dive, it is expected that the global geospatial imagery analytics market shall witness exponential growth after the COVID-19 chaos. Also, to strengthen the global footprint in the global marketplace, several organizations across the globe are implementing various effective business strategies to tackle the impact of a post-COVID-19 pandemic. These strategies are technological breakthroughs, strategic collaborations, and advanced product development. For instance, in April 2020, Enel X, the leading Italian energy venture, has collaborated with HERE Technologies to generate a map-based solution to fight against the COVID-19 outbreak. By implementing these strategies enterprises of this field are preparing for the after-effect of COVID-19 pandemic.
In addition, the majority of the sectors such as retail, construction, logistics & transportation, agriculture, and manufacturing are strongly hit due to the COVID-19 pandemic outbreak. Thus, to sustain in the global market, these businesses are expected to adopt geospatial imagery technologies, post COVID-19 pandemic. Due to the capability of geospatial imagery analytics to visualize business objects on maps, it has become very easier for improving efficiency and decision making. Moreover, these technologies may help ventures to streamline the processing of both enterprise and spatial data for greater location awareness across business processes. These factors may lead to foster the growth of the global geospatial imagery analytics market, after the pandemic.
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Our group of skilled analysts provide a solution to help the companies to survive and sustain in this global pandemic. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts. Our study helps to acquire the following:
- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the Geospatial Imagery Analytics Market , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity