The geospatial industry has been witnessing significant growth since the past five years and is continuing to do so due to the emergence of new technologies such as Artificial Intelligence (AI), big data, the Internet of Things (IoT), and Machine Learning (ML). Global studies have shown that geospatial readiness plays a crucial role in the adoption of digital innovation, contributing significantly to world’s Gross Domestic Product (GDP) as well as optimizing efficiency and cost-effectiveness of the economic sectors such as infrastructure, energy, agriculture, financial services, retail and logistics, and climate and environment, among others.

Geospatial analytics collects, analyzes, and displays Geographic Information System (GIS) data and imagery, including Global Positioning System (GPS) and satellite photographs. Geospatial data analytics depend on geographic data points and specific locations such as a zip code or address of service areas. These data are utilized for developing geographic models and data visualizations for more precise modeling and predictions of trends. The global population is adopting and is actively using advanced street maps, satellite imagery, and route planners to gain location intelligence and identify the area of choice. Such intelligence merges with the capabilities of geospatial technologies, data analytics, and artificial intelligence to visualize the geographical patterns, routes, and spatial trends to plan, map, and optimize the positional dimension.

The geospatial imagery analytics market is anticipated to have significant growth during the forecast period 2020-2025. Several factors, such as the rise in the adoption of emerging technologies, increasing demand for small satellites, and the overall growth of the geospatial industry, are adding to the growth of this market globally. Geospatial imagery analytics is one of the emerging geospatial developments, with the leading players actively partnering with each other to support various geospatial missions.

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The prominent players in the geospatial imagery analytics market adopted strategies of contracts, partnerships, agreements, and acquisitions to enhance their geospatial solutions and increase the adoption of these solutions in various industry verticals. The key players that are actively participating in the geospatial imagery analytics market are Hexagon AB, L3Harris Geospatial, Digitalglobe, Environmental Systems Research Institute (ESRI), Inc., Google, Trimble, RMSI, Planet Labs, Urthecast Corporation, and Fugro N.V. among others.