Global Aerial Imagery Market – Analysis and Forecast (2014 - 2024)

Industry Insights by Type (Vertical, Low Oblique and High Oblique), by Application (Surveillance and Monitoring, Geospatial, Conservation and Research, Construction and Development, Disaster Management, Exhibition and Entertainment, and Energy and Resource Management), by End User (Government, Civil Engineering and Archaeology, Defense, Energy and Mining, Media and Entertainment, Agriculture and Forestry, and Others)

Status : Published
Published On : Jul, 2018
Report Code : VRICT5020
Available Format : PDF
Industry : ICT & Media
Page : 138

Industry Overview

The global aerial imagery market is anticipated to reach USD 5.2 billion by 2024, at a CAGR of 14.5% during 2018-2024. The high growth of this market is attributed towards the ability of aerial imagery to provide sudden view that is primarily used in construction activities such as development of thermal or water-based project. Moreover, improved vision point that helps in providing augmented view from distant angles of larger area in order to witness surface of earth in more authentic manner is the major factor driving the growth of the market.

Market Segmentation

Insight by Type

On the basis of type, the aerial imagery market is segmented into vertical, low oblique and high oblique. Among these segments high oblique category is expected to witness fastest growth of 15.3% CAGR during the forecast period and the vertical imagery segment is projected to generate revenue of USD 1.9 billion by 2024.

GLOBAL AERIAL IMAGERY MARKET SHARE, BY TYPE (2017)

  

Insight by Application

The aerial imagery market on the basis of application is segmented into surveillance and monitoring, geospatial, conservation and research, construction and development, disaster management, exhibition and entertainment, and energy and resource management. The technology is gaining huge popularity in various segments as it enables the organizations in recording and monitoring surface of the earth that deliver advanced imaging resolutions and ability to freeze time. Among the various applications, surveillance and monitoring application account for the largest revenue in the market with more than 20% share in 2017.

Insight by End User

Different end users in the aerial imagery market include government, civil engineering and archaeology, defense, energy and mining, media and entertainment, agriculture and forestry, and others. Government is the largest end user of these solutions, accounting for more than 30% revenue in the aerial imagery market, globally.

Industry Dynamics

Growth Drivers

Increasing adoption of aerial imagery in several areas such as surveillance and monitoring, energy and resource management, geospatial, conservation and research and disaster management is the major factor driving the growth of aerial imagery market. Moreover, frequent occurrence of natural calamities across the globe such as floods, fire, earthquakes, tornadoes and cyclones are extensively revamping the usage of new imagery solutions in order to visualize actual loss of property and life.

Additionally, this technology is extensively gaining huge momentum in order to chart information after disaster occurrence since it offers images with high resolution that are understandable and easy to access by the teams of disaster management. Rapid innovation in cameras is further driving the growth of the aerial imagery market. Technological upgradation in cameras such as inclusion of ultra-refined images with high resolution pixels is bolstering the demand for these solutions across several business enterprises.

Challenges

The increasing geometric distortion in images and security concern related to no-fly zones (NFZ) are the major factors hindering the growth of the aerial imagery market across the globe.

Industry Ecosystem

Globally, industry players in aerial imagery market are leveraging market growth through partnership agreements and acquisitions. The key players are further focusing upon technological advancements to develop novel environment for aerial imagery. This is further strengthening the market presence and position of these organizations in the global market.  

Geographic Overview

Geographically, North America accounted for the largest revenue of USD 841.8 million and is also expected to witness the fastest CAGR of 15.5% during the forecast period in the market. The region is the largest market owing to increasing technological advancement in mapping of sky rise buildings, oil & gas plants and dams. Additionally, increasing investment in smart city regions and expansion in urbanization is expected to further bolster the growth of aerial imagery market in North America. Moreover, Asia-Pacific is expected to witness considerable growth during the forecast period due to increasing demand for surveillance and monitoring in order to resist global threats.

GLOBAL AERIAL IMAGERY MARKET, BY REGION (2017)

  

Competitive Insight

The aerial imagery market is observing acquisitions by the key players, also there are companies that are increasing their market share by technological advancements and new product development. Some of the major players in the aerial imagery industry are EagleView Technologies, Inc., Fugro N.V., Digital Aerial Solutions LLC, Google Inc., Kucera International Inc., Blom ASA, Getmapping PLC, Nearmap Ltd., High Eye Aerial Imaging Inc., and NRC Group ASA.


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