Geospatial Imagery Analytics Industry Opportunities, Growth Analysis, Segmentation, Emerging Technology, Gross Margin, C

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Geospatial Imagery Analytics Industry Opportunities, Trends, Emerging Technologies, Opportunity Assessment, Development Status, Competitive Landscape, Segmentation by Forecast to 2027

The global geospatial imagery analytics market is expected to exhibit a strong 24.57% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global geospatial imagery analytics market was valued at USD 3.22 billion in 2017 and is expected to rise to a valuation of USD 11.16 billion by 2023, according to the report. The report presents a detailed analysis of the market’s major drivers and restraints, including an assessment of the impact of the COVID-19 pandemic on the market.

Top Impacting Factors

As per the study conducted over the global geospatial imagery analytics market predicts some influential factors that are encouraging it to expand rapidly. The demand for geospatial imagery analytics and the emergence of its market is mainly accredited to the mounting demand for GIS services by businesses to understand customer preferences and increase sales in targeted demography.

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Regional Framework

From the viewpoint of geographical analysis, the global geospatial imagery analytics has been studied for the main regions of Europe, North America, Asia-Pacific, and the rest of the world. 

North America’s geospatial imagery analytics market is proposed to grasp the maximum industry share of over 34% by the year 2023, owing to a surge in investments in new satellite systems in the region. In the case of point, the study reveals that in December 2017, the federal government of Canada invested approximately USD 54 million as a part of its commitment to the International Space Station (ISS). It was conducted to pave ways for the development of new technologies in space robotics. The propagation of photography videography services owing to the rising popularity of drone technology to cater to industrial clients in sectors such as agriculture, construction, and disaster management has eventually spurred the geospatial imagery analytics market expansion in the region.

The market in the Asia-Pacific region also shows a high expectancy to inflate with the fastest CAGR during the forecast period. In this region, China is the leading country for the market as it has the most developed geospatial and satellite capabilities as compared to other nations in the region. Whereas, India is also ready to witness a high growth rate during the forecast period 2018-2023 in the occasion of continuous support from the government and developing aerial and space capabilities of the nation.

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