Geospatial Imaging Market Size, Share, COVID-19 Impact Analysis, By Platform (Drones, Vehicle Mounted Device, Mobile, and Backpack), By Application (Corridor Mapping, Engineering, Environment, Exploration, ADAS, and Others), By End-Use Industry (Infrastructure, Transportation & Logistics, Real Estate, Energy & Utilities, and Others) and Regional Forecast, 2023-2030

The global geospatial imaging market size was valued at USD 1.73 billion in 2022 and is projected to grow from USD 2.02 billion in 2023 to USD 5.84 billion by 2030, exhibiting a CAGR of 16.4% during the forecast period. North America dominated the geospatial imaging market with a market share of 34.68% in 2022.

Geospatial imaging is the process of capturing, analyzing, and interpreting imagery and data of the Earth's surface and its features. It utilizes technologies such as mobile mapping systems, aerial photography, Light Detection and Ranging (LiDAR), and remote sensing. It has a wide range of applications across various end-user industries such as infrastructure, environmental monitoring, exploration, transportation & logistics, and others.

The process involves the use of specialized sensors and technologies to collect data from different sources. These sources include aircraft equipped with cameras or LiDAR sensors or ground-based systems. The collected imagery and data are processed and analyzed using advanced software and algorithms. This comprises image enhancement, geometric correction, feature extraction, classification, and spatial modeling. The rising demand for 3D maps of cities and road networks is expected to drive the geospatial imaging market growth from 2023 to 2030.

COVID-19 IMPACT

COVID-19 Positively Impacted Market Due to Increased Adoption of Remote Sensing and Monitoring Capabilities

The COVID-19 pandemic increased the need for remote sensing and monitoring capabilities in various sectors, such as public health, urban planning, and disaster management. Geospatial imaging technologies played a crucial role in monitoring the spread of the virus, assessing the impact on healthcare systems, tracking population movement, and analyzing compliance with social distancing norms. Moreover, travel restrictions, lockdown measures, and safety concerns disrupted field data collection activities for geospatial imaging projects. Aerial surveys, on-site mapping, and data acquisition faced delays or cancellations, affecting project timelines and data availability. However, most of the aerial survey requirements were fulfilled with the help of satellite imagery. Furthermore, the pandemic created opportunities in healthcare and crisis management. From identifying high-risk areas to optimizing healthcare resource allocation, geospatial imaging services offered valuable insights and support in managing the crisis.

LATEST TRENDS

Integration of Artificial Intelligence (AI) & Machine Learning (ML) Techniques is a Prominent Market Trend

Technological advancements are the key trends gaining popularity in the market. Major players in the market are focusing on developing technologically advanced solutions by integrating Artificial Intelligence (AI) and Machine Learning (ML) to analyze geospatial data by automating image analysis, object detection, and change detection. AI and ML algorithms can process large datasets more efficiently. They can extract meaningful insights and automate repetitive tasks in geospatial data analysis.

For instance, in September 2022, Picterra SA, a Switzerland-based geospatial imaging ML SaaS platform for detecting objects, monitoring changes, and spotting patterns in satellite, drone, and aerial imagery, introduced a groundbreaking data curation technology for geospatial imagery. The company's latest innovation enabled users to gain deeper insights into their datasets and enhance the accuracy of their models.

By analyzing image variability, this unique technology helped GIS and data science teams identify areas where new training data should be added to optimize model performance. Furthermore, multi-sensor integration, cloud computing & big data analytics, integration of geospatial data with the Internet of Things (IoT), and strategic partnerships and collaborations are also key trends in the market.

DRIVING FACTORS

Rising Demand for 3D Maps of Cities and Road Networks will Catalyze Market Growth

Rapid urbanization and infrastructure development projects around the globe will require accurate geospatial data for effective planning, land management, and infrastructure monitoring. 3D maps enable users to visualize their surroundings which makes it easier to identify landmarks, navigate complex road networks, and understand the spatial relationships between different factors. Geospatial imaging plays a crucial role in mapping urban areas, assessing land use patterns, and supporting infrastructure projects, such as transportation networks, smart cities, and utility planning which will propel market growth.

For instance, in September 2022, Bentley Systems, Inc., a U.S.-based infrastructure engineering software company, and Genesys International, an India-based company that offers advanced mapping and geospatial content services, announced their partnership for a 3D City Digital Twin Solution in Urban India, the first of its kind by an Indian company. Powered by Bentley's OpenCities 365, this extensive mapping and surveying project will capture a significant portion of urban India. Furthermore, navigation & location-based services, smart city initiatives, and disaster management are expected to propel the market growth.

Development of Autonomous Vehicles to Boost Geospatial Imaging Market Share

Autonomous vehicles heavily rely on accurate geospatial data for mapping, navigation, and situational awareness. They require real-time geospatial data to understand dynamic environments, such as live traffic conditions and construction zones. Unlike standard maps, which lack daily updates on construction zones and driving regulations, maps powered by specific geospatial data can provide real-time information. This includes details on parking ramp usage, thereby enhancing the user experience. The spatial data also helps autonomous vehicles to assess road networks, parking facilities, and charging stations.

For instance, in January 2022, according to BloombergNEF, a total of 21 passenger car models equipped with LiDAR were announced by 17 automakers across the world, either in production or set to be released soon. Many leading car manufacturers, including Mercedes-Benz, Nissan, BMW, Stellantis, Volkswagen, and Volvo have already expressed their plans to incorporate LiDAR into their sensor suites for Advanced Driver Assistance Systems (ADAS) and Autonomous Driving (AD) in their upcoming car models.

RESTRAINING FACTORS

Data Security, Privacy Concerns, and Higher Data Storage Requirement to Hamper Market Growth

Data security, privacy concerns, and higher data storage requirement are anticipated to hinder the market growth. Geospatial data contains confidential and valuable information. It includes information on the location of military bases, important infrastructure, and other private properties. Any breaches or unauthorized access to this data will cause serious threats to countries and organizations.

For instance, in July 2021, according to a report by cybersecurity researchers from WizCase, mapsonline.net, a website owned by PeopleGIS, a Massachusetts-based company that offers information management software to local governments in Massachusetts, New Hampshire, and Connecticut, had a security lapse. This resulted in the exposure of over 1.6 million files and more than 1,000 GB of data from various municipalities in the U.S. Furthermore, as the industry evolves and data collection methods improve, the demand for higher data storage capabilities will increase, which poses a challenge for storage infrastructure and costs.

SEGMENTATION

By Platform Analysis

Vehicle Mounted Devices to Dominate Market due to Rapid Development and Maintenance of Infrastructure

By platform, the market is categorized into drones, vehicle-mounted devices, mobile, and backpacks. The vehicle-mounted device segment will dominate the market share owing to the rapid development and maintenance of infrastructure. Vehicle-mounted devices refer to cutting-edge devices installed on a vehicle to capture detailed three-dimensional (3D) data of the surrounding environment using laser beams.

Drone imaging is the fastest-growing segment due to the rising demand for aerial imaging from the construction and agriculture sectors. Drone imaging refers to using UAVs (Unmanned Aerial Vehicles) equipped with cameras or sensors to capture high-resolution images or data from the air. Drone imaging is commonly used in various fields, such as surveying, construction, agriculture, and environmental monitoring for efficient and accurate data collection and analysis.

By Application Analysis

Corridor Mapping Applications to Gain Traction with Rising Demand for Imagery Services from Construction Sector

By application, the market is bifurcated into corridor mapping, engineering, environment, exploration, ADAS and others. The corridor mapping segment dominated the market and is expected to register significant growth during the forecast period due to the increasing demand for imagery services from construction sector. Corridor mapping refers to the process of capturing and mapping a linear area or route, such as a road, railway, pipeline, or power line.

The ADAS segment is expected to be the fastest growing segment during the forecast period due to increasing focus on vehicle safety and autonomous vehicles. Advanced Driver Assistance System (ADAS) is a technology that assists drivers in operating a vehicle more safely and efficiently. ADAS systems use sensors, cameras, and other devices to monitor the surrounding environment and provide real-time information to the driver.

By End-User Industry Analysis

Increasing Demand for Surveying and Mapping from AEC Industry to Boost Product Use in Infrastructure Industry

The market, by end-user industry, is segmented into infrastructure, transportation & logistics, real estate, energy & utilities, and others. The infrastructure segment dominated the market in the base year due to the rising demand for surveying and mapping from Architecture, Engineering & Construction (AEC) industry. Infrastructure includes roads, highways, bridges, tunnels, overpasses, rail, airports, and others.

The transportation segment is expected to be the fastest-growing segment due to the rising demand for spatial information for transportation networks, infrastructure, and assets. Transportation & logistics refers to the management and movement of goods, services, and people from one location to another.

REGIONAL INSIGHTS

In terms of geography, the market is divided into North America, Europe, Asia Pacific, and the Rest of the World.

North America dominated the market and was valued at USD 0.60 billion in 2022. This growth is attributed to the presence of major service providers, such as Fugro N.V., Trimble Inc., NV5 Global, Inc., ESRI Inc., and others. For instance, in March 2023, NV5 Global Inc., a company specializing in technology, conformity assessment, and consulting solutions, acquired Axim Geospatial for an undisclosed amount. This acquisition broadened NV5's expertise in the federal defense and intelligence sectors and reinforced its leadership in providing geospatial utility solutions. Axim's exceptional enterprise Geographic Information Systems (GIS) is expected to further enhance NV5's GIS capabilities by offering cloud-managed services, ensuring secure and scalable options to meet the increasing demand for GIS data and analytics.

Europe captured the second-largest market share in the base year. This market growth is due to the increasing adoption of geospatial technologies for asset management and environmental control. Moreover, the presence of major vehicle OEMs who intend to boost autonomous vehicles in European countries is also expected to propel the market growth in this region.

Asia Pacific held a significant market share in the base year and is expected to be the fastest-growing region during the forecast period. The market’s rapid growth in this region is owing to the expanding construction industry in countries, such as India, China, Japan, the Philippines, and other emerging countries. Furthermore, the rising demand for geospatial imagery analytics solutions for precision agriculture is also expected to boost market growth.

The market in the rest of the world is expected to grow significantly during the forecast period. The growth is attributed to the increased adoption of geospatial imagery analytics in end-user industries such as exploration, energy, utilities, and natural resources. Furthermore, modernization and new infrastructure projects are also anticipated to drive market growth.

KEY INDUSTRY PLAYERS

Drone Imaging, Emerging Markets, Technological Advancements, and Innovations are Key Focus Areas of Leading Players

The global geospatial imaging market share is relatively fragmented with key players such as Fugro N.V., Trimble, Inc., NV5 Global, Inc., ESRI Inc., Hexagon AB, Cyient Limited, Woolpert Inc., and others. Major players are focusing on drone imaging, emerging markets, technological advancements, and innovations to increase their market share. For instance, in May 2022, RailTel Corporation of India Ltd and Esri India, a provider of GIS software and solutions, signed a Memorandum of Understanding (MoU) to deliver cloud-based GIS solutions to government sector users. The collaborative offerings will encompass software, cloud infrastructure, and associated services, enabling government organizations to transition from on-premises infrastructure to cloud and GIS solutions.

LIST OF KEY COMPANIES PROFILED:

• Asia Air Survey Co., Ltd (AAS) (Japan)


• Cyient Limited (India)


• ESRI, Inc. (U.S.)


• Fugro N.V. (Netherlands)


• Hexagon AB (Sweden)


• NV5 Global, Inc. (U.S.)


• Pasco Corporation (Japan)


• Surdex Corporation (U.S.)


• Trimble, Inc. (U.S.)


• Woolpert Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2023 - NV5 Global, Inc., a U.S.-based company that provides technology, conformity assessment, and consulting solutions, completed the acquisition of L3Harris Technologies, Inc.'s commercial geospatial technology and software business, known as Visual Information Solutions (VIS). This strategic acquisition reinforced NV5's commitment to expand its geospatial imaging product and service offerings through a subscription-based model. It will also enhance NV5's ability to provide geospatial information management and analytics, further solidifying its support for the defense and intelligence communities.


• March 2023 - NV5 Global, Inc., a U.S.-based company that provides technology, conformity assessment, and consulting solutions, announced that its subsidiary, Axim Geospatial, LLC, had secured national security geospatial contracts worth USD 9 million from intelligence agencies and the Department of Defense. The awarded orders encompass the development and integration of reliable geospatial intelligence (GEOINT) derived from both conventional and unconventional sources.


• February 2023 - Environmental Systems Research Institute, Inc. (ESRI) introduced the ArcGIS Reality software, a cutting-edge solution for high-precision 3D mapping and digital twin creation. This platform seamlessly integrates Geographic Information Systems (GIS) with reality mapping data to generate accurate and detailed digital representations of various environments. These capabilities enable the construction industry, urban planners, and even entire nations to efficiently capture and visualize their physical landscapes using imagery data.


• February 2022 - Woolpert Inc. acquired eTrac Inc. for an undisclosed amount. eTrac Inc. is a vessel-based hydrographic survey and marine technology firm that conducts custom and integrated marine services for projects across the U.S. and its territories. The services encompass various aspects such as hydrographic surveying and bathymetric mapping data collection and processing for coastal mapping, navigation safety, and nautical charting. Additionally, underwater imagery and aerial LiDAR data are utilized for change analysis, while providing vessel positioning and monitoring services.


• September 2021 - Woolpert Inc., U.S.-based premier Architecture, Engineering, Geospatial (AEG) and strategic consulting firm acquired AAM Pty Limited for an undisclosed amount. This acquisition helped Woolpert increase its geographical presence and capabilities in mapping activities in the Asia Pacific region. AAM Pty Limited is an Australian geospatial services company that specializes in aerial mapping, surveying, GIS, and the development of innovative geospatial imaging processes and technologies.

REPORT COVERAGE

The market research report provides a detailed market analysis. It comprises all major aspects such as R&D capabilities and optimization of the operating services. Moreover, the report offers insights into the market share, trends, regional analysis, porter’s five forces analysis, and competitive landscape of various companies profiled in the report, and highlights key industry developments. In addition to the above-mentioned factors, it mainly focuses on several factors that have contributed to the global market growth in recent years.

Report Scope & Segmentation