The cloud-based delivery model in the geospatial analysis market will see a decent growth rate of more than 25% between 2019 and 2025. The demand for cloud-based geospatial tools has risen sharply to regularly update a company’s infrastructure and to simplify the recording and management of data sets at a lower cost. Companies are now offering cloud GIS services through pay-per-use pricing models to enable more government agencies to access geospatial data. This will ultimately help consumers who do not have the skills and resources required to do GIS implementations.
Geospatial analytics market trends are becoming due to the rapidly advancing technologies that have enabled businesses to use spatial tracking and imaging tools such as remote -Sensors and wireless devices are becoming increasingly important. The technology offers a variety of ways to create and use maps by several public and private companies and communities. Researchers and GIS professionals who use cloud computing to access any imaginative information related to spatial data will expand the scope of the spatial data analysis industry.
Strategic partnerships with other companies, governments and intelligence agencies will help increase the market size for Empowering geospatial intelligence, which is estimated to exceed $ 8 billion in annual revenue by 2025. The defense and intelligence community uses geospatial data that is heavily reliant on image processing software and takes advantage of multi-spectral imaging capabilities. Hawkeye, a commercial satellite constellation operator, recently launched RFGeo, which uses satellite-generated data to introduce a new geo-analysis of the data provided by the satellite in a standard format for popular tracking software. The company has also reached the military market and, in collaboration with the intelligence community, has demonstrated the remarkable potential for the spatial image analysis industry.
The Geospatial Intelligence Center (GIC) in the US launched a new tool called Virtual for GSI users in July 2019 Inspection Studio (VIS) launched, which enables users to improve remote property assessment by using ultra-high resolution in aerial imagery. It can provide 360 degree property view and accurate measurement of area and distance calculations. The United States Automobile Association (USAA) has shown that it uses VIS in rapid claims assessment and settlement. Similar use cases will fuel the adoption of imaging solutions and bolster the market prospect for geospatial analytics. Governments appear to have their own spatial requirements – government agencies face critical challenges such as providing information in the event of an emergency or taking initiatives to build a smart community . The acquisition of geospatial data via various image acquisition sources gives them access to detailed information in order to make decisions, for example on agricultural areas, which cover the entire legal area and are regularly updated. These agencies are increasingly using the services of satellite imaging companies and are significantly contributing to the geospatial analytics market share.
The Asia-Pacific geospatial analytics market is expected to have a CAGR of more than 25% over the forecast period. The construction, marine, defense, and agriculture sectors use multiple aerial platforms such as surveillance cameras and drones to gather land-based information that GIS professionals can use to solidify their decision-making process. Government initiatives in Asia-Pacific countries to develop the space industry will help improve navigation systems to capture spatial imagery that can be used to support numerous industrial applications.
Several companies are developing and advancing Geospatial products that are in high demand with the rapid advancement of intelligent technologies including Bentley Systems, AeroVironment Inc., Harris Corporation, PrecisionHawk, Inc. and Satellite Imaging Corporation.
Due to extensive research and investment by public companies, the APAC industry size for geospatial analysis fast. The Union Mine Ministry in India is investigating the use of drones that could be used for mine-related functions such as monitoring, operating mines, reclaiming land after mining, and managing landfills. Large public sector entities such as the National Mineral Development Corporation, Hindustan Copper Limited, and government agencies such as the Geological Survey of India and Indian Bureau of Mines were involved in the exploitation of these drones.
Rahul Varpe is currently a contributor to Technology Magazine. Rahul is a trained communications engineer and began his career as a freelance writer alongside regular jobs. Rahul already has experience writing as well as marketing services and products …
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