Geospatial imagery analytics market to reach worth of USD 8,951.5 mn by 2026

According to the report, the growth rides on the back of the rapidly growing geographical information systems (GIS) market that is actively involved in end-use industries, mainly in the area of disaster management.

Geospatial imagery analytics market to reach worth of USD 8,951.5 mn by 2026
Geospatial imagery analytics market to reach worth of USD 8,951.5 mn by 2026

Geospatial imagery analytics market to reach worth of USD 8,951.5 mn by 2026

The global geospatial imagery analytics market stood at USD 4,567 million in 2016 and is expected to rise by 7.0% CAGR from 2018 to 2026, says a Transparency market research report. Expanding at this pace, the opportunities in the market is estimated to reach a worth of USD 8,951.5 million by 2026 end.

According to the report, the growth rides on the back of the rapidly growing geographical information systems (GIS) market that is actively involved in end-use industries, mainly in the area of disaster management.

The rising usage of GIS in climate change, carbon management, flood management, in integrating, analyzing, and detecting patterns in geospatial data is a notable factor propelling the growth of the geospatial imagery analytics market.

The substantial usage of location-based services among worldwide consumers is catalyzing the demand for geospatial imagery analytics solutions. Moreover, the rising need for navigation systems in several end-use industries is fueling the demand for geospatial imagery analytics solutions.

The staggering data volumes being generated from GPS devices, the world over, is a notable trend bolstering the demand for geospatial imagery analytics solutions. Moreover, the proliferating usage of connected mobile devices, particularly smartphones, in various economies of the world is fueling market growth.

The extensive demand for GIS for law and security in the government sector is accentuating the market growth. The overall market will greatly benefit from the rapid advances being made in GIS technologies and advancement in systems for extracting geospatial information.