Geospatial imagery analytics is used to leverage and recognize the unique characteristics of unstructured geospatial data (geospatial images and videos). The method helps understand the specifications and intricacies of an area by identifying the patterns and relations in a geographic space and the changes they experience over time. The global geospatial imagery analytics market was expected to reach $3,196.2 million in 2017, and it is further projected to grow at a CAGR of 28.7% in the near future.

Apart from satellites, geospatial imagery is collected through geographic information system (GIS) and unmanned aerial vehicles (UAVs). Out of these, images generated through GIS proved most productive for such service providers in 2017. This is because maps obtained through GIS make it easier to understand the geographical information than reading the information from a spreadsheet.

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Geospatial imagery analytics is then used to derive useful business insights from these maps. Technological advancements are driving the adoption of geospatial imagery analytics. The manual processing done for analyzing any pattern or demographic change in large datasets, after the images have been captured by collection mediums, make the whole process slow, complex, and monotonous.

In order to deal with this, service providers are focusing on integrating the deep learning, artificial intelligence (AI), and big data technologies in geospatial imagery analytics and are integrating these in their services rapidly. Various industries, such as banking, financial services insurance (BFSI), disaster management, retail e-commerce, and military, are getting beneficial results from these technological advancements. The demand for these services has risen considerably in the recent past as these technological advancements enable end-users with a faster and more-efficient analysis of data.

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A great opportunity for geospatial imagery analytics market players has arisen due to the increasing use of location-based services (LBS), which make use of such technology. According to a study, the number of users utilizing LBS in the U.S. alone grew from around 196 million to nearly 219 million during 2016–2017. This rise in the use of these services is due to the increasing number of internet-enabled devices around the world.

Location-based features are generally integrated in internet-connected devices to help consumers in the interpretation of real-time maps for useful insights. At the core of LBS are geospatial data analytics services. Hence, the growing adoption of smartphones and the quick sharing capability of hyper-local information is leading to the rising adoption of LBS, thereby further creating growth opportunities for the vendors providing these services.