Global Aerial Imagery Market Expected to Reach US$ 4,169.1 Million by 2024: According to BlueWeave Consulting
Published Date | 2018 October 30
Global aerial imagery market to reach $4,169.1 million by 2024
Global Aerial Imagery Market accounted for revenue of around $1,800 million in 2017 and is anticipated to grow at a CAGR of above 12% during the forecast period. The aerial imagery market is expected to witness high growth as it provides an instantaneous view which is necessarily required for town planning or construction of any water or thermal based project. Aerial imagery offers improved vantage point, which provides a bird-eye view of large areas to see features of the earth’s surface in their spatial context. It also provides time freezing ability by recording the exposure instance of the earth surface. In addition, aerial imagery uses broad sensitivity of the film for capturing quality images that cannot be perceived through human eyes.
Increased usage of Drone-based technology driving the aerial imagery market across the globe
The market for Aerial Imagery is witnessing a comparable disruption as drone-based technology is reshaping the industry landscapes and is getting widely-adopted across sectors- from agriculture to defence intelligence. Increased usage of drone for urban planning, forestry and geology are anticipated to drive the demand for the aerial imagery market. Drone is an unmanned aircraft which is equipped with different state of the art technology such as infrared and digital cameras that can be controlled by a remote control system. Drones are not required to carry data links that add weight and complexity, and are thus, used by various government authorities to create maps instead of relying on central mapping authorities (manual mapping). Drones are gaining adoption in construction sites as they provide a full view of the infrastructure from different angles to make strategic decisions for mapping roads, parking, and open space. Large scale capital projects and infrastructure maintenance are getting benefitted from aerial imagery conducted through drones, which are also known as UAV. Images collected through drones not only perform hazardous work but also make it easy for businesses to acquire image sets with great precision and in a cost-effective manner.
Aerial Imagery Market: Scope of the Report
The global aerial imagery market is segmented on the basis of product type, application type, and vertical type. On the basis of product type, the market is segmented into low oblique, vertical, and high oblique. The sale of low oblique aerial imagery contributed the largest revenue to the global aerial imagery market in 2017 and is estimated to witness the highest growth during 2018-2024. On the basis of application, the market is segmented into surveillance & monitoring, geospatial, energy & resource management, conservation & research, media & entertainment, disaster management, and construction & development. The demand for aerial imagery for use in energy & resource management applications is expected to grow at the fastest rate, during the forecast period. However, with aerial imagery being predominantly used in various surveillance and monitoring purposes, this application segment is expected to continue generating the highest revenue in the global market, during the forecast period. Based on Vertical, the market is segmented into government, energy & mining, defense, agriculture & forestry, media & entertainment, civil engineering & archaeology, and others. Government industry led to the use of aerial imagery and generated the highest revenue for the global market among all end-user industries, in 2017.
The market to witness the fastest growth in Asia-Pacific during the forecast period
On the basis of region, the market is segmented into five parts namely North America, Europe, Asia Pacific, Middle-East, Africa and Latin America. North America was the largest region in the global aerial imagery market in 2017 and it is estimated to grow over a CAGR of 18.1% during 2018-2024.
High competition among key players in the market
Some of the global strategic developments during the research, depict the global aerial imagery market is moving towards consolidation. The leading players are focusing especially on technological improvements, and integrated and joint innovation practices to build an entirely new ecosystem for aerial imagery. This would further strengthen their position and market presence, globally. Some of the major companies operating in this industry include Eagle View Technologies, Fugro N.V., Digital Aerial Solutions LLC, Google Inc., Kuncera International Inc., Blom ASA, Getmapping PLC, and Nearmap Ltd.
Market Segmentation: Global Aerial Imagery Market
· Low oblique
· High oblique
· Surveillance & monitoring
· Energy & Resource management
· Conservation & Research
· Media & Entertainment
· Disaster Management
· Construction & Development.
· Energy & Mining
· Agriculture & forestry
· Media & Entertainment
· Civil Engineering & archaeology
In addition, the report provides analysis of the aerial imagery market with respect to the following geographic segments:
· Rest of Europe
Asia Pacific (APAC)
· Rest of Asia Pacific
· Rest of Latin America
· South Africa
· Saudi Arabia
Rest of Middle-East
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