Global aerial imagery market is projected to reach $3,545 million by 2023, with 13.4% CAGR during 2017-2023. The aerial imagery market is expected to witness high growth due to its ability to provide instantaneous view, primarily required for town planning or construction of any water or thermal based project. Improved vantage point, to provide magnified view of large areas from distant angles to see the features of the earth’s surface clearly in their actual context, is also a prime driver for its increased demand.
The aerial imagery market has been gaining traction due to its increased adoption in multiple application areas, such as surveillance and monitoring, geospatial, energy and resource management, conservation and research, exhibition and live entertainment, disaster management, and construction and development.
This technology provides time freezing ability, by recording every instance of the earth’s surfaces to provide advanced imaging solutions, which is in high demand from various industries.
Insights on market segments As per the findings of the research, high oblique category will show highest growth during the forecast period. However, the vertical category in the aerial imagery market is expected to have largest market size in 2023.
Among all techniques, the sales of low oblique contributed the largest revenue to the global market till 2016, however, vertical type is expected to become the largest market by 2023. Among the various applications, surveillance and monitoring is expected to contribute the largest revenue during the forecast period. The fastest growth in the demand of aerial imagery will be witnessed from the defense industry; however, the government is expected to hold the largest market during the forecast period.
Rising incidences of natural disasters escalating the global market growth With increasing number of natural calamities such as earthquakes, fire, floods, cyclones and tornadoes occurring globally, governments of many countries are inclining towards the use of new imagery solutions to determine the actual loss of life and property.
The factor has been observed as a prime stimulant of growth of the aerial imagery market, in recent times. Also, the technology is nowadays being highly preferred to update the map information after disaster, as it provides high resolution images that are easy to understand for disaster management teams. It offers the ability to monitor and assess the potential damage from calamities, by enabling disaster management authorities to take corrective measures.
The aerial imagery market is also driven by new innovations in camera systems. Recent advancement in camera technology, including ultra-refined images with high pixels is fueling the demand for aerial imagery across all businesses. High definition cameras are getting widely used for small scale or large-scale images as they provide high resolution with great precision.
North America and Asia-Pacific to witness similar growth during the forecast period Geographically, the aerial imagery market is projected to witness similar growth in North America and Asia-Pacific, during the forecast period. The growth in the North American market will be led by increasing usage of this technology for mapping sky rise buildings, dams, and oils & gas plants in the region.
The upsurge in urbanization, along with purposed investment in smart cities in the region, is also expected to boost the growth of the North American aerial imagery market in the coming years.
Market heading towards consolidation The global aerial imagery market is moving towards consolidation as the market is witnessing acquisitions and partnerships among key players. The leading players such as EagleView Technologies Inc., Fugro N.V., Digital Aerial Solutions LLC, Google Inc., and Getmapping PLC, are focusing on technological improvements and integrated and joint innovation practices to build an entire new ecosystem for aerial imagery. This would further strengthen their position and market presence.
The aerial imagery market has also been witnessing some acquisitions, wherein companies are targeting to increase their market share by acquiring successful products and technologies of its competitors. For instance, EagleView acquired OmniEarth (provider of imaging satellites) at an undisclosed amount. EagleView aims to incorporate OmniEarth’s technologies to extract data from imagery to its own products, including analysis of aerial imagery.
Further, by gaining access to EagleView’s pictometry image library and product infrastructure, the OmniEarth team will be able to accelerate its development of advanced analytic solutions.
Our reports have been used by over 10K customers, including:
KEY FINDINGS Cannabis is a psychoactive drug which is mainly used for medicinal and recreational purposes. The global cannabis testing market is expected to rise at a CAGR of 11.44% over the forecast period of 2018-2026. The market is mainly being driven by an increase in the number of testing facilities acquired as a strategic...
KEY FINDINGS Text Analytics Market in Europe is expected to exhibit a substantial growth over the forecast period of 2018-2026 by growing at a CAGR of 19.80%. Monetizing of social media analytics, the emergence of multilingual text analytics to break the language barrier, growing social media and smartphone users and the...
KEY FINDINGS Asia-Pacific dominated the global polyolefin market by accounting for the highest revenue share in 2017, and it is expected to continue its dominance throughout the forecast period of 2018-2026 by exhibiting a CAGR of 6.85%. MARKET INSIGHTS The availability of cheap skilled labour...
KEY FINDINGS The Global population health management market is expected to rise at a CAGR of 20.78% over the forecast years of 2018-2026. The key factors driving the market growth are increasing healthcare expenditure, government spending, rising need for cost-effective healthcare for the growing geriatric population, the...
KEY FINDINGS Cannabis testing is majorly carried out to detect the presence of heavy metals, impurities, residual solvents, pesticides or chemicals in order to assure the safety of cannabis for medicinal use. The North American cannabis testing market is expected to grow at a healthy CAGR of 10.51% over the forecast years...
KEY FINDINGS The global text analytics market is predicted to grow at a CAGR of 17.44% during the forecast period of 2018-2026. The major factors contributing to this market growth are increasing industry-specific applications of the market and monetization of social media analytics. MARKET INSIGHTS The...