U.S. Geospatial Imagery Analytics Market
Dublin, Nov. 27, 2023 (GLOBE NEWSWIRE) — The "U.S. Geospatial Imagery Analytics Market – A Regional Analysis: Focus on Application and Solution – Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The U.S. geospatial imagery analytics market is estimated to reach $8.38 billion in 2033, reveals the premium market intelligence study. The study also highlights that the market is set to witness a CAGR of 3.19% during the forecast period 2023-2033.
The factors attributing to the growth of the market include the rise in the adoption of emerging technologies, increasing demand for small satellites, and the overall growth of the U.S. geospatial imagery analytics market.
The U.S. geospatial imagery analytics market has experienced remarkable growth in recent years due to the increasing use of geospatial technologies in various industries such as transportation, agriculture, maritime, and defense.
The widespread adoption of artificial intelligence (AI), machine learning (ML), and cloud computing geospatial technologies led to the growth of geospatial imagery analytics in the U.S. Regional organizations are consuming large amounts of data generated through remote sensing, geographic information systems (GIS), global positioning systems (GPS), and internal mapping technologies.
For instance, in February 2023, IBM and the National Aeronautics and Space Administration (NASA)' Marshall Space Flight Center signed a collaboration to use artificial intelligence (AI) to process geospatial data quickly. The partnership includes the integration of AI with large datasets from NASA's Earth observation satellites for quicker and easier climate research analysis.
The U.S. geospatial imagery analytics market is characterized by intense competition, with several key players operating in the industry. Notable companies include BENTLEY SYSTEMS, INCORPORATED, BlackSky Technology Inc., Esri, Maxar Technologies Inc., and others. These companies heavily invest in research and development to introduce innovative products.
The market also features smaller and medium-sized companies offering specialized products. With the increasing demand for geospatial imagery analytics, the market is anticipated to experience significant growth in the coming years as more industries recognize the benefits of utilizing services such as remote sensing, environmental monitoring, infrastructure, and asset management.
The market can be segmented based on application and product, and it is expected to witness continued growth as key players and defense forces invest in advanced technologies to enhance performance and effectiveness, leading to new opportunities for growth and innovation in the sector.
Introduction to the U.S. Geospatial Imagery Analytics
New technologies, such as machine learning (ML) and artificial intelligence (AI), enable businesses and government organizations to analyze large amounts of data in real time for better decision-making. ML and AI algorithms excel in pattern recognition, predictive analysis, and automation, providing valuable insights, optimizing operations, and enhancing overall efficiency.
This digital revolution is not only enhancing decision-making processes but also shaping the future of industries across various sectors, including healthcare, finance, transportation, and more. Furthermore, high-resolution satellite images and geospatial data are becoming more widely available, which is one of the factors driving the growth of the market.
Furthermore, the rise in deployment of small-satellite constellations in the U.S. by various companies such as Capella Space, Descartes Labs, Inc., and Planet Labs PBC are capable of cost-effective geospatial solutions. The regional companies have access to high-resolution satellite imagery data through the Earth observation satellites in orbit.
There are approximately 1,000 Earth observation satellites, out of which more than 600 of these satellites are being operated by the U.S. Hence, deploying more satellites has decreased the satellite imagery acquisition cost and made it more affordable for geospatial services.
Furthermore, the region is collaborating with commercial geospatial service providers through contracts and partnerships for intelligence and defense needs. For instance, in March 2023, Planet Labs PBC announced that its wholly owned subsidiary, Planet Labs Federal, Inc., secured a contract from the National Reconnaissance Office (NRO) under the Strategic Commercial Enhancements (SCE) Broad Agency Announcement (BAA) program, with a specific focus on Commercial Hyperspectral Capabilities (CHC).
Industrial Impact
The U.S. geospatial imagery analytics market is witnessing rapid growth due to the growing demand for integrated domain awareness solutions, the deployment of small-satellite constellations, and the need for real-time data for surveillance or commercial purposes.
The increasing deployment of small satellites for Earth observation applications is another factor that is driving the geospatial imagery analytics in the region. In 2022, the region contributed more than 140 Earth observation satellites in orbit. The high-resolution remote sensing data is utilized by various geospatial imagery analytics providers for offering solutions to commercial and government organizations.
For instance, Planet Labs PBC, a satellite imagery data provider, manages terabytes of satellite datasets through its satellite constellation of more than 150 satellites. The company provides satellite imagery data access to users through its web-based tools, such as the application programming interface (API). However, compliance with regulations and international agreements regarding the collection, storage, and use of geospatial data can be complex and may vary by region.
Market Segmentation
Construction and Infrastructure Development in Application Section to Dominate the U.S. Geospatial Imagery Analytics Market
The construction and infrastructure development segment of the U.S. geospatial imagery analytics market is estimated to be $0.88 billion in 2022 and is expected to grow up to $1.34 billion by 2033, growing at a CAGR of 4.07%. The Building Information Modeling (BIM) industry's rapid evolution caused a significant impact on both the construction and the design industries.
BIM and GIS integration development brings a new way of thinking about construction and planning. This process includes a transition from 2D to 3D, building information modeling on the digital front. Additionally, GIS data is required to plan various infrastructure operations such as roads, trains, and airports.
Analytics in Product Section to Dominate the U.S. Geospatial Imagery Analytics Market by Solution
The U.S. geospatial imagery analytics market is expected to be dominated by analytics in 2023, with $2.57 billion in 2022 in terms of revenue, and is expected to reach $3.57 billion in 2033. In this market, there are companies such as Orbital Insight that offer AI-powered software platforms.
The Orbital Insight platform can perform analytics using a variety of geospatial data sources, including satellite and aerial images, location data, automatic identification system (AIS) data, and more. Similarly, EOS Data Analytics, a cloud-based solutions provider, offers the EOSDA platform for tasks such as crop monitoring, land observation, and forest monitoring. This platform leverages deep learning algorithms to analyze satellite imagery and deliver actionable insights.
Key Market Players and Competition Synopsis
Key players in the U.S. geospatial imagery analytics market analyzed and profiled in the study involve major U.S. geospatial imagery analytics companies providing solutions, respectively.
Moreover, a detailed market share analysis of the players operating in the U.S. geospatial imagery analytics market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Attributes:
Report Attribute
Details
No. of Pages
227
Forecast Period
2023 – 2033
Estimated Market Value (USD) in 2023
$6.12 Billion
Forecasted Market Value (USD) by 2033
$8.38 Billion
Compound Annual Growth Rate
3.2%
Regions Covered
United States
Markets Dynamics
Industry Outlook
U.S. Geospatial Imagery Analytics Market: Overview
Growing Integrated Domain Awareness Solutions Market
Access to New and Cheaper Data Sets
Impact of the Growing Small Satellite Market
Evolving Customer Requirements across Key Applications
Market Developments and Technology Trends
Emerging EO/SAR Data from Small-Satellite Missions
Aggregator Business Models Providing Access to Diverse Data Sources
Emerging Drone-Based Imagery Solutions
Artificial Intelligence (AI)/Machine Learning (ML)
3D Modeling/Digital Twin
Business Drivers
Increasing Deployment of Artificial Intelligence Capabilities
Growing Need for Data-Driven Decision-Making across Market
Business Strategies
New Product Launches
Startup and Investment Scenarios
Corporate Strategies
Partnerships, Collaborations, Agreements, and Contracts
Mergers and Acquisitions
Business Opportunities
Increasing Use of Geospatial Data to Create Sustainable Solutions
Business Challenges
Increasing Competition Due to Fragmented Market as a Result of Multiple Startups
Evolving Trend of Upstream Participants Delivering Downstream Services
Global Geospatial Imagery Analytics Market Scenario
Russia
Recent Developments in Russia
Key Manufacturers and Geospatial Imagery Analytics Providers in Russia
U.K.
China
Japan
Middle East and Africa
Key Geospatial Use Cases
Maritime
Agriculture
Defense
Healthcare
Oil and Gas
Market Share Analysis & Company Profiles
Albedo Space Corp.
AllSource Analysis
AiDash
BENTLEY SYSTEMS, INCORPORATED
BlackSky Technology Inc.
Capella Space
DataCapable Inc.
Esri
EOS Data Analytics, Inc.
GreenValley International
Keystone Aerial Surveys, Inc.
Locana
Maxar Technologies Inc.
Michael Baker International
NextNav Inc.
Planet Labs PBC
Spire Global, Inc.
Swift Navigation, Inc.
TerraGo Technologies
The Sanborn Map Company, Inc.
Trimble Inc.
Unearth Labs
Umbra Lab Inc.
VETRO FiberMap
VORTICS IMAGING
Weather Stream Inc.
Zonda
For more information about this report visit https://www.researchandmarkets.com/r/aw94wy
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
U.S. Geospatial Imagery Analytics Market
"We've more or less been saying potentially Saudi needs to just flush this thing out."
Chet Kapoor, who once described himself as "the guy who got coffee for the guy that made coffee," is now a pivotal figure in the technology landscape. He has advice for others who want to follow in his path. He suggests interning but offering to pay to work for admirable people. Once an intern for Steve Jobs, Kapoor shared insights with Fortune on his journey from a young dreamer to a highly successful entrepreneur. Don’t Miss: Funders on this alternative asset platform are earning more than 14%
Broadcom CEO Hock Tan was unsparing in his expectations about remote work during a meeting with his new employees.
Former Wall Street banker Randall Atkins got a lot more than he bargained for when he paid $2 million for a Wyoming coal mine without even seeing it in 2012. At the time, he planned to make money selling coal from his mine to other plants. That was before he conducted a study in conjunction with the Department of Energy and discovered he was sitting on a treasure worth more than the gross domestic product (GDP) of some small countries. It turns out that his coal mine was also home to an estimate
The very essence of a retirement nest egg lies in the concept of patient growth and compounding of investments over time. Its purpose is to offer a bountiful reserve of funds when one bids farewell to the workforce, ensuring a … Continue reading → The post Alarming Number of Working Americans Cash Out Retirement Accounts When Changing Jobs appeared first on SmartAsset Blog.
Imagine evenings spent on a sandy beach, weekends filled with family gatherings and afternoons engaged in hobbies. This or a number of other scenarios could be your retirement life. However, if you’re not properly prepared for taxes then it might end up taking more than you planned for from your fixed income. Luckily, the federal […] The post Common Tax Breaks for Retirees appeared first on SmartReads by SmartAsset.
For some people, retirement can feel a bit like the dog that caught the car. You've prepared for this moment your entire adult life, and you're certainly very happy to have gotten here but … well, now what? You've spent … Continue reading → The post Five Tips to Enjoy Life After Retirement appeared first on SmartAsset Blog.
You must have earned the income for it to be considered compensation for the purposes of contributing to an IRA.
Retail giant joins other big advertisers that are distancing themselves from X following Musk's support for an antisemitic post.
The SEC is suing crypto firm DEBT Box for allegedly defrauding investors out of nearly $50 million.
The company has suffered from the attrition of some TD Ameritrade customers and falling deposits. Those woes may soon be behind it, according to two analysts.
How much should you contribute to your 401(k)? The short answer is as much as you can, but there is more to it than that.
The White House’s new Supply Chain Resilience Council is meant to strengthen the supply chain, but supply chain stakeholders are not included. The post The president’s plan to strengthen US logistics appeared first on FreightWaves.
Walmart, America’s single biggest employer and largest company by revenue, said Friday it’s no longer advertising on the platform formerly known as Twitter. The departure follows owner Elon Musk amplifying antisemitic posts and flinging expletives at fleeing advertisers.
SHENZHEN, China (Reuters) -Toyota Motor has halted production on some ageing lines at a joint venture in China while operations continue as normal, the Japanese automaker said on Saturday after a media report that it was partially suspending production due to weak sales. The production halt at the Tianjin venture with China's FAW was a planned move, and Toyota is adjusting production based on "changes in the composition of vehicle models", a spokesperson said by email. Japan's Jiji news service said on Friday the world's largest automaker by sales was suspending some production as part of a major production adjustment in response to weak sales of gasoline-engine cars.
Retail giant Walmart on Friday revealed it no longer advertises on X, becoming the latest major corporation to pull ads from the Elon Musk-owned social media platform formerly known as Twitter.
The investments held in a Roth individual retirement account (Roth IRA) determine the return, not the interest rate. When you save for retirement in your Roth account, it’s important that you work toward a specific investment goal rather than just maximizing your yearly contributions to minimize your tax bill. If you have not yet determined an investment goal, here is a formula for estimating how much you’ll need in your nest egg to fund the retirement lifestyle that you want.
Little is known about Shein's leadership team and business practices. An imminent U.S. IPO might change that.
Electric-vehicle startup Fisker again cut its production forecast for the year, saying it is prioritizing liquidity while it holds talks to sell emission credits to automakers. Fisker on Friday said it now expects to produce just over 10,000 vehicles this year. Last month, Fisker [cut its production target](https://www.wsj.com/business/autos/ev-startup-fisker-has-lost-another-chief-accounting-officer-a876e09e) to between 13,000 and 17,000 vehicles for the year.
Temu's big spending on Facebook and Instagram ads has captured the attention of Meta stock analysts on Wall Street.