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U.S. Geospatial Imagery Analytics Market will Record an Upsurge in Revenue during 2023-2033

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BIS Research
U.S. Geospatial Imagery Analytics Market will Record an Upsurge in Revenue during 2023-2033

U.S. Geospatial Imagery Analytics refers to the analysis of satellite and aerial imagery using advanced technologies like AI and machine learning to extract valuable information and insights about geographic areas. It is used for applications such as environmental monitoring, disaster response, urban planning, and national security.

The U.S. geospatial imagery analytics market is estimated to reach $8.38 billion in 2033 from $6.04 billion in 2022, at a growth rate of 3.19% during the forecast period 2023-2033. This market analysis aims to assess the state of geospatial imagery analytics providers in the U.S. and further identify their pain points that could be solved through relevant consulting solutions. This study captures the state of the U.S. geospatial imagery analytics market along with key participants and their profiles. The investigation utilized primary research to identify specific pain points and USPs of the survey respondents. Further, secondary research was conducted to compile market information to complement the company profiles of the survey respondents.

Geospatial imagery analytics delivers valuable insights to a wide range of users in various fields. These geo-referenced images come in two primary formats: raster and vector images. Raster images, sometimes referred to as bitmaps, consist of individual colored pixels. In contrast, vector images are created using mathematical formulas, allowing them to be scaled infinitely without losing quality. Geospatial imagery analytics finds applications in diverse sectors, including agriculture, defense and security, mining and manufacturing, healthcare, and insurance.

Industrial Impact of U.S. Geospatial Imagery Analytics Market

The U.S. geospatial imagery analytics market is witnessing rapid growth due to the growing demand for integrated domain awareness solutions, the deployment of small-satellite constellations, and the need for real-time data for surveillance or commercial purposes.

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The increasing deployment of small satellites for Earth observation applications is another factor that is driving the geospatial imagery analytics in the region. In 2022, the region contributed more than 140 Earth observation satellites in orbit. The high-resolution remote sensing data is utilized by various geospatial imagery analytics providers for offering solutions to commercial and government organizations.

Recent Developments in the U.S. Geospatial Imagery Analytics Market

  • In August 2023, Umbra Lab Inc. secured a significant SBIR Phase II contract valued at $1.25 million from AFWERX. This contract is focused on addressing critical challenges within the Department of the Air Force (DAF), specifically in the realm of space-based moving target indication (MTI). Umbra would harness its cutting-edge, cost-effective space systems, known for their wide-bandwidth capabilities and unique paired flight operation. Umbra’s goal is to develop and demonstrate maritime and ground-moving target indication capabilities.
  • In August 2023, BlackSky Technology Inc. and Rocket Lab U.S., Inc. signed an agreement for five launches of BlackSky's satellites. This increased the capacity of BlackSky's constellation and introduced new capabilities. BlackSky's next-generation Gen-3 satellites were designed to produce images with up to 35-centimeter resolution.
  • In July 2023, Spire Global, Inc. was selected by RDC Aviation to provide its customers with insights into global flight and aviation data. Spire delivered its flight report, which uses satellite and ground-based automatic dependent surveillance-broadcast (ADS-B) data to provide actionable metadata about flights, aircraft, and airlines. RDC would use Spire's data to analyze airport charges and navigation costs for its database of over 3,000 airports. This data would be used to help airlines and airports make informed decisions about pricing and operations.

Scope of the Study

The U.S. geospatial imagery analytics market has gained significant importance over three years (2021-2023) due to the increasing demand for advanced geospatial intelligence, enhanced situational awareness, and more effective decision-making capabilities across various sectors.

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The research study is based on extensive primary interviews (in-house industry players, market leaders, and experts) and secondary research (a host of paid and unpaid databases), along with analytical tools to predict the forecast analysis for the study period. With the help of these, the U.S. geospatial imagery analytics market study provides a broader perspective of the industry.

Key Questions Answered in this Report:

  • What are the futuristic trends in the U.S. geospatial imagery analytics market, and how is the market expected to change over the forecast period 2023-2033?
  • What are the key drivers and challenges faced by the companies that are currently working in the U.S. geospatial imagery analytics market?
  • How is the U.S. geospatial imagery analytics market expected to grow during the forecast period 2023-2033?
  • What are the opportunities for companies to expand their businesses in the U.S. geospatial imagery analytics market?
  • Which region is expected to be leading the U.S. geospatial imagery analytics market by 2033?
  • What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
  • What is the current and future revenue scenario of the U.S. geospatial imagery analytics market?
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