Global Geospatial Imagery Analytics Market to Gain $11,932.5 Million and Surge at a CAGR of 23.4% during the Covid-19 Crises - Exclusive Report by Research Dive

Research Dive
·4 min read

The global geospatial imagery analytics market is expected to witness positive impact during the Covid-19 pandemic. Rise in the advances of artificial intelligence (AI) are estimated to boost the global market growth during the pandemic.

New York, USA, April 20, 2021 (GLOBE NEWSWIRE) -- As per a new report analyzed by Research Dive, the global geospatial imagery analytics market was accounted for $2,290.0 million in 2019, and is estimated to cross $11,932.5 million by the end of 2027, at a growth rate of 23.4% during 2020-2027 timeframe.

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Factors Affecting the Market during the Covid-19 Pandemic

The geospatial imagery analytics industry is enhancing due to the availability of computational power, advances of artificial intelligence, and availability of geospatial data from satellites and remote sensing. Moreover, geospatial AI analytics offers insights on social & behavioral sciences, epidemiology, epigenetics, and genetics to the public health departments. These all factors are predicted to boost the market during the pandemic.

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Key Highlights of the Market:

1. The predicted CAGR of the geospatial imagery analytics market, prior to the outbreak of the COVID-19 pandemic, was 20.1% during the analyzed period.

2. The geospatial imagery analytics industry CAGR worldwide, as projected after the onset of the new coronavirus mayhem, is estimated to be 23.4% during the forecasted time period.

3. The market share of the geospatial imagery analytics industry in 2020, as anticipated before the COVID-19 crises began, was accounted for $3,279.2 billion.

4. The current market size of the geospatial imagery analytics market in 2020, after experiencing the COVID-19 outbreak, is $3,479.6 billion.

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Current Market Scenario during the Covid-19 Crises

The geospatial data can be utilized to generate infectious disease modeling and aid to curb the coronavirus infection. Furthermore, a researcher’s study at the Institute of Disease Modeling, Seattle, states that geospatial data offers risk factors, forecasts of viral & pathogen prevalence, and categorization of disease transmission. These all factors are responsible for the market growth during the estimated timeframe.

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Future Scope of the Market

Sectors such as construction, retail, logistics & transportation, manufacturing, and agriculture are adopting geospatial imagery technology to sustain businesses in the post pandemic period.

Key Players

1. UrtheCast
2. Oracle
3. Maxar Technologies
4. Trimble Inc.
5. L3Harris Technologies, Inc.
6. HEXAGON
7. RMSI
8. Microsoft
9. TomTom International BV.
10. ALTERYX, INC.

These market players are focusing on several strategies such as product revelations, research & development, and acquisitions of businesses for the market growth. For instance, in February 2021, EOS Data Analytics, a provider of satellite imagery, to cast off 7 optical EOS SAT satellites into the low earth orbit by the end of 2024. The aim of the company is to monitor farmlands, thus making this project agriculture oriented.

The report offers many strategies and ideas of the top industry players functioning in the industry such as the current strategic plans & developments, financial performance, SWOT analysis, and product/service range. Click Here to Get Absolute Top Companies Development Strategies Summary Report.

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