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. The leading players operating in the global geospatial imagery analytics market are also profiled in detail in the report.
Regional Analysis:
Europe holds the largest share in the global geospatial imagery analytics market, followed by North America. These two regions have benefitted from the extensive investment from governments in the space exploration field. Germany, France, Russia, the U.S., and China are among the leading regional markets for geospatial imagery analytics.
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Competitive Leaderboard:
Leading players in the global geospatial imagery analytics market include Satellite Imaging Corporation, KeyW Corporation, Fugro NV, UrtheCast Corporation, Planet Labs, RMSI, Trimble, Google, Environmental Systems Research Institute, DigitalGlobe, Harris Corporation, and Hexagon AB.
In September 2018, DigitalGlobe, a vendor of geospatial imagery solutions, received a contract of USD 3.2 million from US defense advanced research projects agency (DARPA). Under this contract, DigitalGlobe has to provide an unclassified environment for geospatial cloud analytics platform. This platform, with the help of machine learning technology, is expected to help the military in getting real-time insights about the commercial data, that would help them in quick decision making.
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