The North America Geospatial Imagery Analytics Market would witness market growth of 28.9% CAGR during the forecast period (2021-2027).
The growing need for GIS services by organisations to identify client preferences and enhance sales in the targeted demography is driving the geospatial imagery analytics market. Businesses are turning to geospatial analytics to help them make more informed decisions. For national security reasons, the authorities are actively investing in satellite technology to acquire high-resolution geospatial photos and videos in order to reduce cross-border terrorist activity. The use of GIS technology in the transportation and logistics industries is driving the growth of the geospatial imagery analytics market. Geospatial analytics is assisting transportation and logistics organisations in their search for cost-effective solutions to optimise their fleet operations by giving information about road conditions and traffic congestion.
The advancement of smart cities necessitates the use of precise base maps and utilities, which geospatial imaging analytics technology can deliver. The geospatial imagery analytics market in this area is predicted to increase as a result of these factors. The demand for geospatial imagery analytics in a wide range of verticals like environment monitoring, defence & security, government, mining & manufacturing, engineering & construction, utility & natural resources, insurance, healthcare & life sciences, agriculture, and other markets in this geographical area is anticipated to propel the growth of the geospatial imagery analytics market in this region over the projected period.
As a result of increased expenditures in modern satellite systems in the area, North America is among the major users of geospatial imaging analytics. For example, as part of its efforts to the International Space Station (ISS), Canada's federal government contributed roughly USD 54 million in December 2017 to open the framework for the growth of new space robotics technology.
The US market dominated the North America Geospatial Imagery Analytics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $10,595.1 million by 2027. The Canada market is exhibiting a CAGR of 31.8% during (2021 - 2027). Additionally, The Mexico market would display a CAGR of 30.6% during (2021 - 2027).
Based on Type, the market is segmented into Image-based Analytics and Video Analytics. Based on Vertical, the market is segmented into Defense & Security, Engineering & Construction, Mining & Manufacturing, Government, Environmental Monitoring, Healthcare & Life Sciences, and Agriculture. Based on Collection Medium, the market is segmented into Geographic Information System (GIS) and Satellites. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Application, the market is segmented into Disaster Management, Construction & Development, Conservation & Research, Exhibition & Live Entertainment and Surveillance & Monitoring. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Geospatial Imagery Analytics Market is Estimated to reach $42.2 Billion by 2027, at a CAGR of 29.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Trimble, Inc., Microsoft Corporation, Google LLC, TomTom N.V., Hexagon AB, L3Harris Technologies, Inc., Planet Labs, Inc., Oracle Corporation, Alteryx, Inc.
By Type
By Vertical
By Collection Medium
By Deployment
By Organization Size
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By Country
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