In terms of value, the global geospatial imagery analytics market is estimated to be $4.41 billion in 2020 and is projected to be $9.19 billion in 2025 at a CAGR 15.80% during the forecast period 2020-2025. The growth of the geospatial imagery analytics market is highly driven by the rise in the adoption of geospatial technology for various applications and industry verticals.
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Continuous technological advancements have resulted into the integration of geospatial technologies into systems of national security, scientific, and commercially operated satellites supplemented by enhanced enterprise GIS and Unmanned Aerial Vehicles (UAVs). Geospatial technologies such as GPS technology have assisted in managing agricultural and natural resources by providing satellite images.
However, the deployment of UAVs for collection geospatial information has increased in the past years and is expected to grow during the forecast period due to the potential capabilities of the UAVs. In the analysis segment, geovisualization is expected to grow at the highest CAGR in the geospatial imagery analytics market during the forecast period. The growth of this segment can be attributed to the importance of visual interaction with spatial data which plays a key role of discovering and comprehending geomorphological datasets, and a variety of methods exist such as simple overlay, panning and zooming, 2.5D, 3D, and temporal analyses.
The geospatial imagery analytics market has witnessed different market dynamics across various regions of the globe. The following figure represents the global geospatial imagery analytics market by region. It includes North America, Europe, Asia-Pacific, and Rest-of-the-World.
North America dominated the geospatial imagery analytics market with an estimated share of 42.5% in 2020. Its total market size is estimated to be $1.88 billion in 2020 and is projected to be $3.85 billion by 2025, registering a CAGR of 15.47% during the period 2020-2025. The U.S. is one of the prominent countries in this region, and it is estimated to have the highest market revenue of $1.17 billion in 2020 and projected to be $2.37 billion by 2025. The U.S government is aiming to explore the potential of commercial small satellites data to enhance its earth science data.
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Europe, which includes major regions such as U.K, Germany, the Netherlands, and Rest-of-Europe, is the also a prominent region for the geospatial imagery analytics market. The geospatial imagery analytics market in Europe is estimated to be of $1.04 billion in 2020 and is projected to grow at a CAGR of 15.55% during the forecast period 2020-2025. In Europe, U.K. is estimated to have the major market share in 2020, due to the continuous efforts by the country for deploying geospatial solutions.
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